As to the news, the FBR ( Federal Bureau of Revenue ) has lowered the fair market value of property in Islamabad after consulting with stakeholders including the FRP ( Federation of Realtors Pakistan).
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As per the information, residential and commercial plots in the federal capital are valued at Rs2,000 per square foot for less than 5 years old and Rs1,000 per square foot for building over 5 years old.
On December 15, 2021, FBR fixed a value of Rs1,50,000 per square yard in sector E7, but the tax department notified a value of Rs250,000 per square yard of all sizes in E7. Meanwhile, in B17 Islamabad, the property value assessed by FBR with or without land possession is Rs20,000 and Rs12,000 respectively, but FBR has set the value of the land for this community at Rs55,000.
Likewise, the property price per square yard at Bani Gala will be Rs28,000 when FBR previously announced a value of Rs36,363 per square yard. As per the information, the F-8's flats & apartments properties are worth Rs25,000 per square foot, but FBR has announced a value of Rs260,000 per square foot.
In addition, FBR has set the cost of commercial property in the Blue Area at Rs6,80,420 per square foot, and the new value price of commercial property, including shops, will be Rs48,611 per square foot.
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