ISLAMABAD: The Federal Board of Revenue (FBR) Tuesday substantially raised values of residential and commercial immovable properties in Islamabad Capital Territory to bring rates at par with the real market values.
Now, the owners of residential and commercial properties would also have to pay tax on superstructure of these properties in Islamabad.
The FBR has replaced the valuation tables of immovable properties of Islamabad with the new table.
For example, values have increased manifold of residential and commercial immovable properties in posh sectors including sector E7, sector F7, sector F6 and sector F8.
The FBR has done classification of immovable properties under the new SRO. The new values of immovable properties would be applicable from December 8, 2025.
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In this regard, the FBR has issued S.R.O. 2392(I)/2025 here on Tuesday.
FBR’s field formations in other cities are also revising values of the immovable properties. Regional Tax Office Lahore has constituted a committee for updation of the valuation tables of immovable properties in Lahore.
Under the new categorization, the new valuation tables have been issued on the values of residential and commercial Open Plots (with possession), Open Plot (Without possession), Built-up Apartments/Flats and areas etc.
According to the notification, the FBR will determine the fair market values of immoveable properties in Islamabad.
The value of residential and commercial superstructure shall be (a) Rs 4000 per square foot if the superstructure is up to five years old and (b) Rs. 3000 per square foot if the superstructure is more than five years old.
The valuation of Rural Areas of Islamabad Capital Territory shall be taken as notified dated July 1, 2025 by Additional Deputy Commissioner (Revenue)/ District Collector lslamabad.
In case of conflict in rates of a particular area the higher of the two values shall apply, the notification added.
Copyright Business Recorder, 2025
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