LAHORE: Beginning on January 1, 2023, the Federal Board of Revenue will compare its value rates to the district collector prices for immovable properties located in 1,271 regions of Lahore. (Reported by news source)
The tariffs for both residential and commercial properties in Lahore have been updated by the FBR.
Although the Board updated the values of residential and commercial immovable properties located in various parts of Lahore downward in order to fix fair market value of immovable properties, the coverage of the valuation of the property was expanded in some regions.
The Board has evaluated the immovable assets’ fair market value in relation to areas of Lahore, according to the most recent announcement.
In accordance with the Stamp Act of 1899, the Collectors of districts are authorised to notify rates of immovable properties in the regions under their authority, according to the Board of Revenue Punjab.
Following the removal of any abnormalities in the valuation tables, the District Collectors are authorised to engage any additional officer or stakeholder in the committee for finalizing the valuation tables.
