KARACHI – Federal Board of Revenue of Pakistan revised property valuations for Karachi, announcing new rates for immovable properties.
A notification shared by tax agency said “In exercise of the powers conferred by sub-section (4) of section 68 of the Income T. Ordinance, 2001 and in supersession of its Notification No. S.R.O. 345(1)/2022, Federal Board of Revenue is pleased to determine the following fair market value of the immoveable properties as specified in columns (3) to (9) of the Table below.”
FBR Property Rates for Karachi 2024
Defence Housing Authority (DHA) in port city remains highly sought after and Property values in DHA vary significantly, with residential open plots starting around Rs20,000 per square foot and reaching up to 50,000, depending on the specific phase and location.
Built-up residential properties generally range from 25,000 to 70,000 per square foot, particularly in newer areas. Commercial open plots can be valued between 40,000 and 80,000 per square foot, reflecting high demand for business establishments, while built-up commercial properties typically range from 50,000 to 100,000 per square foot.
Bahria Town remains leading real estate development in Karachi, renowned for its modern infrastructure and extensive amenities. Property values vary across different precincts. In Bahria Town Karachi (superhighway, excluding certain precincts), residential open plots are priced at 1,100 per square foot, with built-up properties at 2,600.
Commercial open plots are valued at 4,250 per square foot, while built-up commercial properties are priced at 1,900. Industrial open plots are around 2,150, and industrial built-up properties are at 700 per square foot. In contrast, Bahria Town Karachi (superhighway precincts 1, 2, 5, 8, 19) sees slightly higher rates, with residential open plots at 1,400 and built-up properties at 3,000, reflecting better amenities and desirability.
FBR increases property valuation rates in 56 cities [Download PDF]
