The Federal Board of Revenue (FBR) has issued revised official property rates for Islamabad, applicable to both residential and commercial properties. The new rates reflect an increase of 15 to 75 percent across different categories.
According to the notification, the updated rates will determine the market value of immovable property and will be used for calculating capital gains tax and withholding tax.
Under the new valuation system, constructed residential properties up to five years old have been set at Rs 3,000 per square foot, while properties older than five years are now valued at Rs 1,500 per square foot.
The notification further stated that all previous property rates have been cancelled following the issuance of the new SRO. The move is expected to impact property transactions, taxation, and overall real estate valuations in the federal capital.
