Notification of official property rates in 56 major cities issued

The Federal Board of Revenue (FBR) has released the notification of official property rates in 56 major cities.

Property rates rose by about 5 percent to equal 80 percent of the market rate.

The old rates of 11 cities including Karachi, Lahore, Islamabad, Rawalpindi are currently maintained.

Certain changes in FBR were made under the Transformation Plan

Property rates remained unchanged in Quetta, Gwadar, Multan, Bahawalpur, Lasbela, Rahim Yar Khan and Sargodha.

According to FBR, the rates of other 45 cities including Peshawar, Abbottabad, Faisalabad, Gujarat have been changed.

Property rates in Attock, Haripur, Hyderabad, Wazirabad, Sahiwal, Gujranwala, Bahawalnagar, Bannu, Bhakkar, Chakwal, Chiniot, DI Khan, DG Khan, Murree, Ghoda Gali, Jhang, Ghotki, Jhelum, Kasur and Kohat. have been updated.

FBR in notification says that new property rates have been issued in Khushab, Hafizabad, Kotli Sattian, Larkana and Lodhran.