The Federal Board of Revenue (FBR) has notified of new property rates in Lahore. In a notification, the FBR has determined new fair market value of immovable properties (residential and commercial) in different areas of Lahore.
According to the notification, the FBR has issued revised property rates for 1.235 areas of the city. The valuation of property has been doubled in most cases, while several new areas have been added to the list as well. The new property rates in Lahore have come into effect immediately.
The complete list of revised property rates in Lahore is available for download as a PDF at the official website of the Federal Board of Revenue (FBR).
It bears mentioning that at the new rates, the buyer, who is a filer, must pay an income tax of Rs. 150,000 for a residential plot of 10-marla, while a non-filer will have to pay an income tax of Rs. 300,000. As for the commercial plot, the income tax would be Rs. 400,000 for a filer and Rs. 800,000 for a non-filer.
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