The Federal Board of Revenue (FBR) has determined the new fair market value of immovable residential and commercial properties in different areas of Lahore.
According to details, the FBR has notified new property valuations of more than 1,200 areas of the provincial capital, with the new rates coming into effect immediately.
Let’s have a look at the rates of residential and commercial properties of different sizes in some of the areas of Lahore.
Sr. No. | Area | Size | Value [Residential] (Rs.) | Value [Commercial] (Rs.) |
1. | Abdalian Society | Per Marla | 1.5 million | 4 million |
2. | Societies adjoining Canal Bank beyond Thokar | Per Marla | 1.35 million | 2.75 million |
3. | Bahria Town | Per Marla | 1.35 million | 2.75 million |
4. | EME Society | Per Marla | 1.3 million | 4.95 million |
5. | Iqbal Avenue | Per Marla | 1.4 million | 2.65 million |
6. | Johar Town | Per Marla | 1.6 million | 3.15 million |
7. | Johar Town (Main Roads) | Per Marla | 2.1 million | 4.25 million |
8. | Valencia Town | Per Marla | 1.5 million | 4.25 million |
9. | Raiwind Main Bazar | Per Marla | 1.25 million | 2.75 million |
10. | Park View (River Edge) | Per Marla | 1.2 million | 2.65 million |
11. | Allama Iqbal Road | Per Marla | 1.45 million | 2.8 million |
12. | Saddar Bazar | Per Marla | 1.85 million | 6.75 million |
13. | Cantonment Boards | Per Marla | 3.15 million | 6.5 million |
14. | Garden Town Main Boulevard | Per Marla | 2.8 million | 5.3 million |
For residential plots, a filer will now be required to pay an income tax of Rs. 1.5 million on a 10 marla plot and a non-filer Rs. 3 million. For commercial plots, a filer will now be required to pay an income tax of Rs. 4 million and a non-filer Rs. 8 million.
Note here that the last time the FBR had notified the property valuations for Lahore was on 1 December 2021.
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