FBR notifies a raise in valuation of Karachi property

ISLAMABAD: Federal Board of Revenue (FBR) has increased the valuation of property in Karachi by upto 25 percent while maintaining 11 categories of the properties in the metropolitan, ARY NEWS reported.

According to a notification issued by the FBR, the evaluation price of the properties in Karachi has been raised by upto 25 percent.

“11 categories have been maintained for the city with properties in category one witnessing a rise in valuation on residential and commercial properties by 12.5 percent and 20 percent respectively,” it showed.

In category A-one, the valuation of open residential plot is being increased by Rs8,125 per square yard, followed by residential build property by Rs9,000 per square yard.

For commercial in A-one category, the rate of open plot has been raised by Rs30,000 along with Rs11,250 per square yard increase for a build-up property.

Thus the residential open plot in A-one category is valued at Rs73,125 per square yard along with residential build-up property at Rs81,000 per square yard.

For commercial in A-one category, the per square yard valuation for open plot is being set at Rs180,000 by the FBR followed by Rs101,250 for build-up property and Rs7,313 for apartments.