ISLAMABAD – The Federal Board of Revenue (FBR) has issued revised valuation of immovable property in Islamabad region.
“In exercise of the powers conferred by sub-section (4) of section 68 of the Income Tax Ordinance,2001 (XLIX of200l) and in supersession of its Notification No. S.R.O. 1180(l)12022, dated 27th Jttly,2022, the Federal Board of Revenue is pleased to determine the following fair market values of immoveable properties as specified in columns (3), (4), (5) and (6) of the Table below in respect of areas of Islamabad as specified in column (2) thereof,” read the notification.
It stated that the value of residential and commercial superstructure shall be Rs4000 per square foot if the superstructure is up to five years old in.
It added that the value will be Rs3000 per square foot if the superstructure is more than five years old.
“In case of conflict in rates of a particular area the higher of the two values shall apply,” the notification said.
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