ByMultan, Pakistan: The Federal Board of Revenue (FBR) has issued a new notification, S.R.O. 1729(I)/2024, to revise the fair market values of immovable properties in Multan. This update, effective November 1, 2024, has been made under sub-section (4) of section 68 of the Income Tax Ordinance, 2001, and supersedes the prior Notification No. 1267(I)/2022 dated August 1, 2022.
The updated values aim to reflect the current market rates for properties across various residential, commercial, and agricultural classifications within Multan. Property owners, real estate investors, and tax professionals are encouraged to review the revised valuations to ensure compliance with the latest tax requirements.
This initiative is part of the FBR’s ongoing efforts to enhance the transparency and accuracy of property valuations, aligning declared values more closely with actual market conditions and improving revenue collection from real estate transactions.
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For specific property rates and additional details, visit the official Property Valuation (Rates) by FBR.
