ISLAMABAD: The Federal Board of Revenue (FBR) has announced a significant revision to the property valuation criteria for various property types in Karachi, including residential, commercial, and industrial properties. This update, detailed in S.R.O. 144(I)/2025, is aimed at addressing concerns raised by tax experts and stakeholders in the real estate sector.
Key changes include determining property value based on the square footage of both the ground floor and additional floors, with amenity plots valued at 50% of the corresponding residential plot value in the area.
The revision also outlines that the existing valuation tables remain the same, while clarifying specific calculations for commercial and industrial properties. For multi-story residential buildings, property value will increase by 25% for each additional floor, based on the ground floor’s value.
Properties that don’t fit any defined category will be assessed at the value of the adjacent highest property, and land with multiple uses (residential, commercial, industrial) will have an average valuation based on the respective categories.
The update further defines a flat as a covered residential unit with a separate property or sub-property unit number.
