Rising valuation rates have also pushed up transfer fees.
ISLAMABAD (Dunya News) – The Federal Board of Revenue (FBR) has increased property valuation rates from 25 percent to 110 percent.
Rising valuation rates have also pushed up transfer fees. This measure was taken to collect more taxes on properties including commercial, residential properties, flats and apartments.
The council also extended the capital value tax to 40 towns from 20 towns. These cities included Abbottabad, Attock, Bahawalpur, Bhawalnagar, Chakwal, Dera Ismail Khan, DG Khan, Faisalabad, Ghotki, Gujranwala, Gujrat, Gwadar, Hafizabad, Hyderabad, Islamabad, Jhang, Jheleum, Karachi, Kasur, Khushab, Lahore, Larkana, Lasbella, Mandi Bhauddin, Manshera, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot, Sukkur and Toba Tek Singh.
Meanwhile, people connected to the construction industry have raised concerns about the increase in valuation rates and said it will affect the real estate sector.
Here is the list of property valuation rates
‘; var i = Math.floor(r_text.length * Math.random()); document.write(r_text[i]);