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The Federal Board of Revenue (FBR) is expected to increase the valuation rates of immovable properties in 42 cities this month to align them with the fair market value.

The FBR plans to issue new property valuation tables in September 2024. Previously, the FBR had updated these valuation tables on September 13, 2022. The proposed revisions for the 42 cities are based on the location and the fair market value of various parts of each city.

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The cities affected by the FBR’s increase in property valuation rates include Abbottabad, Attock, Bahawalpur, Chakwal, Dera Ismail Khan, Dera Ghazi Khan, Faisalabad, Ghotki, Gujranwala, Gujrat, Gwadar, Hafizabad, Haripur, Hyderabad, Islamabad, Jhang, Jhelum, Karachi, Kasur, Khushab, Lahore, Larkana, Lasbela, Lodhran, Mandi Bahauddin, Mansehra, Mardan, Mirpurkhas, Multan, Nankana, Narowal, Peshawar, Quetta, Rahim Yar Khan, Rawalpindi, Sahiwal, Sargodha, Sheikhupura, Sialkot, Sukkur, and Toba Tek Singh.