FBR Reduces Property Valuation Rates in Five Cities of Punjab

The Federal Board of Revenue has reduced the valuation rates for immovable properties in five major cities of Punjab, making targeted changes in selected areas rather than carrying out a blanket revaluation.

The revised rates, which took effect on April 22, 2026, apply to Faisalabad, Gujranwala, Multan, Bahawalpur and Sialkot. The new valuation tables will be used to calculate federal taxes, including capital gains tax and withholding taxes on property transactions.

The FBR issued separate notifications for the changes in Punjab, including SRO650(I)/2026 for Multan, SRO651(I)/2026 for Faisalabad, SRO652(I)/2026 for Bahawalpur, SRO653(I)/2026 for Gujranwala and SRO662(I)/2026 for Sialkot.

The latest exercise was aimed at bringing notified property values closer to prevailing market rates in selected localities, particularly in high-value housing schemes and emerging urban areas, while keeping the broader valuation framework intact.

In Multan, the new changes were selective rather than part of a citywide revaluation. The revisions were introduced through amendments to the earlier 2024 notification, with only certain localities and property categories updated.

A similar approach was adopted in Faisalabad, where the FBR amended identified locations and property entries without replacing the overall valuation structure. Officials said the changes were meant to fine-tune market values in selected urban zones.

In Bahawalpur, the revision focused mainly on DHA Bahawalpur and the Askari Housing Scheme. In Gujranwala, updated valuations were introduced in defence and Askari schemes, as well as upscale private housing projects such as Palm City.

In Sialkot, the FBR revised specific serial numbers and updated rates for residential open plots and built-up properties in selected locations.

Officials said the changes were intended to make official property values more realistic while avoiding a full-scale revaluation across entire cities.

In Islamabad, the property valuation framework had already gone through multiple revisions this year. A notification issued in December last year was first suspended, then revised downward in February, and later amended again.

More recently, the FBR offered a further reduction of 10% to 35% in valuation rates in several urban sectors through a notification issued on April 16 to address concerns raised by stakeholders and provide relief to buyers and sellers.