Real Estate Appraisal Value will be Reduced: Federal Tax Office

From 1 January 2023, the Federal Revenue Commission will compare property value rates in Lahore’s 1,271 districts with district collectible prices. 

Lahore residential and commercial property prices updated by FBR. 

In order to determine the fair market value of properties, the Board has revised downward the values of residential and commercial properties in various areas of Lahore, while the scope of property valuations has been expanded in some areas.

The board has assessed the fair market value of real estate related to the Lahore area as per recent announcements.

Pursuant to the Stamp Act of 1899, according to the Punjab State Board of Revenue, district collectors are entitled to give notice of estate rates in areas under their authority. After correcting the scorecard anomalies, the district collector is authorized to complete the scorecard to other officers or stakeholders of the committee.

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