The Federal Board of Revenue (FBR) has issued a notification revising the official valuation of residential and commercial plots across Islamabad. Under SRO 2390, new valuation rates now apply for property purchases and sales in the federal capital.
The updated rates cover 68 specific locations across residential, commercial, and rural areas. These new tables reflect current fair market values, helping close the gap between declared transaction prices and actual value.
FBR officials stated the revision will directly impact property transaction taxes. It will affect the calculation of capital gains tax and withholding tax, potentially resulting in higher tax liabilities for undervalued deals. The primary objective is to increase transparency and reduce under-reporting in real estate dealings.
Read: FBR Faces Rs412 Billion Revenue Shortfall in Tax Collection
All stakeholders including real estate developers, investors, buyers, and sellers—must now use these updated valuation tables for official purposes. Adherence to these legal rates and broader tax laws is now mandatory under the new system.
This property valuation update aligns with a broader enforcement push. FBR Chairman Rashid Langrial recently detailed a vigorous nationwide crackdown against tax evaders and smugglers.
He revealed that 30 individuals suspected of under-reporting income have already received notices. The FBR has also obtained complete data on those who failed to file returns or filed incorrect ones.
A Chief Commissioner for Enforcement has been appointed to oversee all related operations. The FBR now compiles daily reports on actions taken against tax evaders, signaling a sustained effort to improve compliance and revenue collection.
