ISLAMABAD: The Federal Board of Revenue (FBR) has revised criteria for calculation of values of commercial properties, buildup industrial properties, built-up properties, amenity plots, high-rise buildings and residential buildings in Karachi.
The FBR has issued S.R.O. 144(I)/2025 to amend S.R.O.1724(l)/2024 here on Tuesday to clarify valuation related issues. The issues were raised by tax experts and the real estate sector in Karachi.
The same valuation tables of S.R.O.1724(l)/2024 would remain intact but the procedure for calculation of values has been clarified for different categories of properties. According to the notification, (a) values in the Table are in rupees.
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(b) Value is per square foot of the covered area of the ground floor plus covered area for the additional floors.
© Values for the amenity plots shall be 50% of the residential plots of the respective area.
(d) Commercial property built up value is per square foot of the covered area of the ground floor plus covered area of the additional floors. If any.
€ Buildup industrial property value is per square foot of the entire plot area plus covered area of the plot per square foot.
(f) Value in respect of a residential building consisting of more than one storey shall be increased by 25% for each additional storey i.e. value of each storey other than
Ground floor shall be calculated @25 percent of the value of the ground floor.
(g) A property which does not appear to fall in any of the categories shown in the property valuation table shall be deemed to fall in the adjacent highest property.
(h) Whether the land has been granted for more than one purpose viz. residential, commercial and industrial, the valuation in such a case shall be the mean/average prescribed rate.
(i) A flat means the covered residential tenement having separate property unit number/sub-property unit number.
Copyright Business Recorder, 2025
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