The Federal Board of Revenue (FBR) on Tuesday issued property valuation tables for major cities of the country for the purpose of calculation of capital gain tax.
The valuation has been agreed between business community and FBR in recent parleys which concluded last Saturday and announced by Finance Minister Senator Ishaq Dar said a statement issued by FBR here.
The valuation shows various categories of open and constructed plots.
Property prices in Karachi
Under category ‘A-One’ the prices are as follows (per square yard):
- Residential plots – Rs35,000
- House – Rs40,000
- Commercial property – Rs100,000
- Flats – Rs 5,000 (per square feet)
This category comprises areas of Dhoraji, Clifton, Civil Line, DHA phase one and two.
Under category ‘One’ the prices are as follows (per square yard):
- Residential plots – Rs25,000
- House – Rs32,000
- Commercial property – Rs75,000
- Flats – Rs4,500 (per square feet)
The areas of DHA phase four and six, Bombay Bazaar, Burns Road, and Fatima Jinnah Colony make up category ‘One’.
Under category ‘Two’ the prices are as follows (per square yard):
- Residential plots – Rs12,000
- House – Rs20,000
- Commercial property – Rs60,000
- Flats – Rs2,500 (per square feet)
Defence Housing Scheme Malir, Federal-B Area, and Firdouse Colony make up category ‘Two’.
Under category ‘Three’ the prices are as follows (per square yard):
- Residential plots – Rs6,000
- House – Rs13,000
- Commercial property – Rs25,000
- Flats – Rs1,500 (per square feet)
Category ‘Three’ comprises areas of Bufferzone, KDA Scheme 7, Darakshan Cooperate Society, and Dehli Colony.
Property prices in Islamabad
According to the FBR notification the prices of plots in the federal capital have been increased from Rs22,000 to Rs56,000 per square yard in Sector-7.
Similar to Sector-7, the following areas of federal capital have seen price increase (per square yard):
- Sector F-6: from Rs18,000 to Rs48,000
- Sector F-11: from Rs18,000 to Rs42,000
- Sector G-7: from Rs16,000 to Rs41,000
- Jinnah Avenue: from Rs75,000 to Rs114,000
The prices of plots in Sector-11 and Sector I-8 have been set at Rs. 26,000 and Rs. 38,000 (per square yard).
The property prices have doubled in Islamabad’s Blue Area.
Ground floor shops in the Supermarket area are priced at Rs123,000 per square yard.
In Sector F-8 the ground floor is priced at Rs58,000 and Sector F-9 is priced at Rs70,000 per square yard.