The Federal Board of Revenue (FBR) has reduced property valuation rates across various sectors of the federal capital by up to 33% in a fresh notification, aiming to improve tax collection and align rates with market conditions.
This marks the third time the FBR has revised property values downward in Islamabad. Officials said the move follows demands from traders and reflects current real estate market trends.
According to the notification, significant reductions have been made in multiple sectors:
In Sector B-17, the rate for possession plots has been cut from Rs. 30,000 to Rs. 21,000 per square yard, while non-possession plots have been reduced from Rs. 15,000 to Rs. 10,500 per square yard.
In Sector C-14, valuation has been lowered from Rs. 30,000 to Rs. 21,000 per square yard. Sector C-15 saw a decrease from Rs. 25,000 to Rs. 17,500, while in C-16 rates were reduced from Rs. 20,000 to Rs. 14,000 per square yard.
In Sector D-12, rates dropped from Rs. 130,000 to Rs. 91,000 per square yard, and in D-13 from Rs. 16,000 to Rs. 11,500.
Sector E-12 valuations were reduced from Rs. 56,000 to Rs. 39,200 per square yard. In F-15, the rate for non-possession farmhouses was cut from Rs. 20,000 to Rs. 12,500 per square yard.
Among G sectors, G-13 saw a reduction from Rs. 100,000 to Rs. 70,000 per square yard, while G-14 decreased from Rs. 45,000 to Rs. 31,500. Sectors G-15 and G-17 were reduced from Rs. 25,000 to Rs. 17,500, and G-16 from Rs. 15,000 to Rs. 10,500 per square yard.
In Sector I-11, rates were cut from Rs. 40,000 to Rs. 28,000 per square yard, while in I-14 they were reduced from Rs. 40,000 to Rs. 28,500.
However, valuation rates in prime sectors remained unchanged. In E-7, rates stay at Rs. 225,000 per square yard, while in F-6 and F-7 they remain at Rs. 210,000 per square yard.
FBR officials said the revisions are part of broader efforts to document the real estate sector and expand the tax base.