ICT, Abbottabad rural properties: FBR revises valuation mechanism

ISLAMABAD: The Federal Board of Revenue (FBR) has revised the valuation mechanism for immovable properties in rural areas of Islamabad Capital Territory (ICT) and Abbottabad, linking their valuation to the latest rates issued from time to time by the Additional Deputy Commissioner (Revenue)/ District Collector, Islamabad, through an amendment to its earlier notification dated April 16, 2026, issued on November 5, 2026, under Section 68(4) of the Income Tax Ordinance, 2001.

In this regard, the FBR has issued two notifications revising the property valuation framework for Abbottabad and rural areas of Islamabad Capital Territory (ICT), with the new measures taking effect through notifications dated November 5, 2026.

Through SRO 2060(I)/2026, the FBR has determined fresh fair market values of immovable properties in various areas of Abbottabad under Section 68 of the Income Tax Ordinance, 2001, superseding the earlier SRO 1679(I)/2024 issued on October 29, 2024.

Under the revised valuation schedule, residential and commercial open plots have been assigned separate rates per marla across different localities.

For residential plots, the valuation in Main Bazar, Sadar Bazar, Jinnah Masjid Bazar, Sarafa Bazar, Gurdwara Gali and Kutcheri Road has been set at Rs1.25 million per marla, while Abbottabad Bazar has been valued at Rs970,000 and Iqbal Road at Rs800,000 per marla.

For commercial open plots, the highest valuation of Rs5.8 million per marla has been assigned to Main Bazar and adjoining specified areas. Abbottabad Bazar has been valued at Rs4.4 million, while Mansehra Road (from Fawara Chowk to MianGi Hotel) has been set at Rs4 million per marla.

Other commercial valuations include Rs3.1 million per marla for Jinnahabad, Rs3 million for Havelian Bazar and Nathia Gali Main Road, and Rs2.5 million for areas including College Road Mandian, Old College Road Mandian, Comsats Road, Murree Road and Changla Gali.

The notification also specifies valuation rates for constructed residential and commercial properties based on the age of the building. Properties up to five years old will be valued at Rs2,000 per square foot, buildings more than five years and up to ten years old at Rs1,000 per square foot, and buildings older than ten years at Rs 500 per square foot. These rates will be added to the applicable land/property valuation rates specified in the notification.

Separately, through SRO 2061(I)/2026, the FBR has amended its earlier notification SRO 644(I)/2026, dated April 16, 2026, concerning the valuation of immovable properties in rural areas of Islamabad Capital Territory.

Under the amendment, the valuation of rural areas of Islamabad Capital Territory will now be determined in accordance with the latest valuation issued from time to time by the Additional Deputy Commissioner (Revenue)/ District Collector, Islamabad.

Copyright Business Recorder, 2026