FBR to finalise property valuation rates after consultation with industry

ISLAMABAD: The property valuation rates will be finalised by the Federal Board of Revenue (FBR), after consultation with industry stakeholders.

This was announced by National Assembly Standing Committee on Finance and Revenue Chairman Faiz Ullah Kamoka, while addressing the business community at the Islamabad Chamber of Commerce and Industry (ICCI).

Prior to this, the board extended the increase in valuation rates for immovable property in 40 major cities until January 16, 2022.

This extension came after the board announced a case-to-case basis review of the valuation table by consulting valuation experts of the State Bank of Pakistan (SBP) and various realty stakeholders. Until then, the new rates have been suspended till mid-January 2022.

 

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