{"id":23185,"date":"2016-10-05T17:57:05","date_gmt":"2016-10-05T12:57:05","guid":{"rendered":"http:\/\/www.zameen.com\/blog\/?p=23185"},"modified":"2020-06-16T14:33:26","modified_gmt":"2020-06-16T09:33:26","slug":"revision-expected-in-fbr-valuation-tables-for-dha-developments","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/revision-expected-in-fbr-valuation-tables-for-dha-developments.html","title":{"rendered":"Revision expected in FBR valuation tables for DHA developments"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23190 aligncenter\" src=\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/Revision.jpg\" alt=\"Revision\" width=\"600\" height=\"350\" srcset=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/10\/Revision.jpg 600w, https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/10\/Revision-300x175.jpg 300w, https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/10\/Revision-537x313.jpg 537w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<p>I have talked to different agents from major cities across Pakistan and have received similar feedback on the <a href=\"http:\/\/www.zameen.com\/blog\/property-valuation-tables-for-major-cities-in-pakistan.html\" target=\"_blank\" rel=\"noopener noreferrer\"><u>valuation tables<\/u><\/a> issued by the Federal Board of Revenue for <u>taxation<\/u> purposes. These agents are of the view that no universal rule can be applied to estimate the value of property even in the same locality, let alone prepare a rate list of property throughout the country.<\/p>\n<p>The FBR valuation tables have left many genuine buyers, authentic investors and even sellers so confused that property <a href=\"http:\/\/www.zameen.com\/blog\/lda-starts-seeing-trickle-down-effects-of-property-taxes.html\" target=\"_blank\" rel=\"noopener noreferrer\"><u>transaction volume has seen a major drop<\/u><\/a> throughout the country. Please note that, as directed by the FBR, the Advance Tax and Capital Gains <a href=\"http:\/\/www.zameen.com\/blog\/the-dilemma-of-deadlock-on-determining-fair-market-value.html\" target=\"_blank\" rel=\"noopener noreferrer\"><u>Tax on property<\/u><\/a> transactions carried out after July 01, 2016 will be calculated per the FBR rates given in the valuation tables and not on the Deputy Collector\u2019s rate.<\/p>\n<p>So naturally, it is only logical to demand that these rates be made more realistic. Well, I have good news for you; the government is actually looking to revise valuation tables by bringing them down, at least in the DHA developments initially. \u00a0According to a news source, the government may reduce the valuation table rates of property in DHA by one third as, reportedly, DHA authorities complained that property valuation rates for DHA were much higher than the rates quoted for Bahria Town. The authority raised these concerns before the Finance Minister Ishaq Dar who asked the FBR to address this issue, according to the news source.<\/p>\n<p>However, it is not clear if the rates will be fixed now or after the next budget. Please note that property rates quoted in valuation tables for properties in Peshawar and different cities of Sindh have also received similar criticism but no intention of fixing these rates has been expressed by the authorities concerned. Furthermore, the announcement of an <a href=\"http:\/\/www.zameen.com\/blog\/amnesty-scheme-for-real-estate-sector.html\" target=\"_blank\" rel=\"noopener noreferrer\"><u>amnesty scheme for the property sector<\/u><\/a> is also expected, the expected terms and details of which will be shared in my next article.<\/p>\n<p>Meanwhile, I would like to get your take on the expected correction in the FBR valuation tables for DHA so don\u2019t forget to comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have talked to different agents from major cities across Pakistan and have received similar feedback on the valuation tables issued by the Federal Board of Revenue for taxation purposes. These agents are of the view that no universal rule can be applied to estimate the value of property even in the same locality, let alone prepare a rate list of property throughout the country. The FBR valuation tables have left many genuine buyers, authentic investors and even sellers so confused that property transaction volume has seen a major drop throughout the country. Please note that, as directed by the FBR, the Advance Tax and Capital Gains Tax on property transactions carried out after July 01, 2016 will be calculated per the FBR rates given in the valuation tables and not on the Deputy Collector\u2019s rate. So naturally, it is only logical to demand that these rates be made more realistic. Well, I have good news for you; the government is actually looking to revise valuation tables by bringing them down, at least in the DHA developments initially. \u00a0According to a news source, the government may reduce the valuation table rates of property in DHA by one third as, reportedly,&hellip;<\/p>\n","protected":false},"author":18,"featured_media":23190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[3288],"persona":[],"class_list":{"0":"post-23185","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-latest-update-on-property-taxes","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Revision expected in FBR valuation tables for DHA developments - Zameen News<\/title>\n<meta name=\"description\" content=\"I have talked to different agents from major cities across Pakistan and have received similar feedback on the valuation tables issued by the Federal Board\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/revision-expected-in-fbr-valuation-tables-for-dha-developments.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revision expected in FBR valuation tables for DHA developments - Zameen News\" \/>\n<meta property=\"og:description\" content=\"I have talked to different agents from major cities across Pakistan and have received similar feedback on the valuation tables issued by the Federal Board\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/revision-expected-in-fbr-valuation-tables-for-dha-developments.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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