Business
FBR raises immovable property valuation rates in major cities
FBR jacks up rates of immovable property in 40 selected major cities across Pakistan.
Islamabad: The Federal Board of Revenue (FBR) has increased the valuation rates of immovable properties in major cities including Lahore, Karachi, and Islamabad.
According to details, FBR has issued a notification regarding the property prices for major cities of the country. FBR has increased the valuation rates by 25 to 110 percent. Hike in valuation rates has also increased the transfer fee.
This step has been taken to collect more taxes from the properties including commercial, residential, apartments and flats.
THe notification further stated that The FBR has increased the valuation rates of selected 40 cities manifold. These cities included Abbottabad, Attock, Bahawalpur, Bhawalnagar, Chakwal, Dera Ismail Khan, DG Khan, Faisalabad, Ghotki, Gujranwala, Gujrat, Gwadar, Hafizabad, Hyderabad, Islamabad, Jhang, Jheleum, Karachi, Kasur, Khushab, Lahore, Larkana, Lasbella, Mandi Bhauddin, Manshera, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot, Sukkur and Toba Tek Singh.
Meanwhile, people linked to construction business have raised concerns over increase in valuation rates and said that this will affect the property sector.
-
Pakistan 22 hours ago
Petition to file case against Punjab CM for wearing Police uniform
-
Pakistan 1 day ago
Imran Khan nominates Hamid Raza as chairman PAC
-
World 2 days ago
Zionists' attempt to sacrifice animals in Al-Aqsa Mosque failed
-
Sports 1 day ago
Fourth T20I match: Imad can be part of Pakistan’s squad against New Zealand
-
Pakistan 2 days ago
Plea filed in SC for implementation on national action plan 2014
-
Regional 21 hours ago
Trump’s team keeps promising to increase inflation
-
Entertainment 1 day ago
Actor Madiha Rizvi remarries after 1.5 year of divorce
-
Sports 1 day ago
Pak vs NZ: Muhammad Rizwan, Irfan Khan ruled out of T20I series