Karachi, February 12, 2025 – The Federal Board of Revenue (FBR) has revised property valuation rates across various localities in Karachi, aiming to align official property values with the actual market rates. This move is expected to impact real estate transactions, tax calculations, and overall market dynamics.
Key Updates in Property Valuation
The revised rates will affect residential, commercial, and industrial properties. Here are some notable adjustments:
- Residential Properties – Price changes based on infrastructure developments and demand.
- Commercial Properties – Adjustments reflecting increased business activity.
- Industrial Properties – Valuation updates considering industrial growth and zoning.
New Rates for Select Karachi Localities
The following areas have seen significant valuation adjustments:
- Abdullah Haroon Road – Rs. 5,000 per sq. ft.
- Air Force Society – Rs. 30,000 per sq. ft.
- Akhtar Colony & Alfalah Society – Rs. 1,400 per sq. ft.
- Ali Basti – Rs. 700 per sq. ft.
- Askari I, II, III – Rs. 1,100 per sq. ft.
- Askari IV – Rs. 8,200 per sq. ft.
- Askari V – Rs. 15,000 per sq. ft.
- Bahria Town Karachi – Revised significantly due to increased demand.
Impact on Real Estate Transactions
This revision has three major implications:
- Higher Property Taxes – As valuation increases, the tax payable on property transactions will rise.
- Increased Transparency – The new rates reduce underreporting and fraudulent transactions.
- Market Stability – Real estate investors and buyers will have a clearer picture of property worth.
The real estate industry is reacting cautiously, with buyers and sellers assessing how the revised rates impact their investments.
