FBR Announces New Property Rates for Islamabad

The Federal Board of Revenue has announced revised property values in Islamabad, introducing updated FBR property rates for residential and commercial properties. According to an official notification, the new rates aim to align property valuations with current market conditions and will be used for tax purposes in the federal capital.

As per the notification, property values have been increased by 15 to 75 percent depending on location and property type. Both residential and commercial properties are included in the revised valuation list issued by the tax authority.

The FBR stated that under the new rates, the market value of immovable property will be determined according to the updated schedule. Capital gains tax and withholding tax will now be charged based on these revised valuations.

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The notification further explained that for residential constructed properties up to five years old, the new rate has been set at Rs 3,000 per square foot. For buildings older than five years, the rate has been fixed at Rs 1,500 per square foot.

According to the FBR, all previous valuation rates stand cancelled after the issuance of the new SRO. These updated FBR property rates will now be applied to all relevant property transactions in Islamabad.