This update, communicated through S.R.O. 144(I)/2025, aims to address concerns raised by tax experts and stakeholders in the real estate sector.

The FBR has clarified the calculation procedures for different property categories.

Key points include that the value is determined per square foot for the ground floor and additional floors, and that amenity plots will be valued at 50% of residential plots in the area.

The existing valuation tables remain unchanged. According to the notification, the following key points have been outlined:

1. Values in the table are expressed in rupees.

2. The valuation is based on the square footage of the ground floor and any additional floors.

3. Amenity plots are valued at 50% of the corresponding residential plots in the area.

4. The built-up value for commercial properties is calculated per square foot of the ground floor and any additional floors.

5. The value of built-up industrial properties is determined per square foot of the entire plot area, including the covered area.

6. For residential buildings with multiple stories, the value increases by 25% for each additional floor, calculated based on the ground floor’s value.

7. Properties not fitting any specified category will be assessed at the rate of the adjacent highest property.

8. If land serves multiple purposes (residential, commercial, industrial), the valuation will be the average rate prescribed for those categories.

9. A flat is defined as a covered residential unit with a separate property or sub-property unit number.

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Properties that do not fit existing categories will be assessed at the adjacent highest property rate.

This overhaul is expected to streamline property assessments and enhance transparency in the valuation process.