ByKarachi, Pakistan: The Federal Board of Revenue (FBR) has issued an updated notification, S.R.O. 1724(I)/2024, establishing revised fair market values for immovable properties within Karachi. Exercising its authority under sub-section (4) of section 68 of the Income Tax Ordinance, 2001, and superseding the previous Notification No. S.R.O. 345(I)/2022 dated March 2, 2022, the FBR has set new valuation benchmarks.
This adjustment is aimed at ensuring that property valuations align with current market realities, enhancing transparency in real estate transactions, and supporting FBR’s goal of a fair tax collection system. Property owners, buyers, and real estate professionals within Karachi are advised to refer to the updated rates as the new fair market values are now effective.
This measure aligns with FBR’s broader objective to ensure accurate property assessments and to minimize discrepancies between official valuations and prevailing market prices across the country.
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For specific property rates and additional details, visit the official Property Valuation (Rates) by FBR.
