{"id":23211,"date":"2016-10-06T18:06:03","date_gmt":"2016-10-06T13:06:03","guid":{"rendered":"http:\/\/www.zameen.com\/blog\/?p=23211"},"modified":"2020-06-16T14:31:29","modified_gmt":"2020-06-16T09:31:29","slug":"fbr-valuation-tables-arent-perfect-for-sindh-javed-bilwani","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-valuation-tables-arent-perfect-for-sindh-javed-bilwani.html","title":{"rendered":"FBR valuation tables aren\u2019t perfect for Sindh: Javed Bilwani"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-23213 aligncenter\" src=\"http:\/\/www.zameen.com\/blog\/wp-content\/uploads\/2016\/10\/property-tax-2.jpg\" alt=\"property-tax 2\" width=\"600\" height=\"350\" srcset=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/10\/property-tax-2.jpg 600w, https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/10\/property-tax-2-300x175.jpg 300w, https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2016\/10\/property-tax-2-537x313.jpg 537w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<p>The valuation tables released by the Federal Board of Revenue (FBR) on July 01, 2016 for the purpose of property tax calculation have met with criticism by real estate brokers, investors, property owners and even from industrialists. In some cases, these concerns do seem valid as the scale to measure property size and the categories to classify different property types aren\u2019t the same in all provinces of Pakistan.<\/p>\n<p>Based on the reservations expressed by the DHA, there might be a <a href=\"http:\/\/www.zameen.com\/blog\/revision-expected-in-fbr-valuation-tables-for-dha-developments.html\" target=\"_blank\" rel=\"noopener noreferrer\">revision in valuation tables for DHA projects<\/a>. With these revisions, concerns of other stakeholders should also be addressed. Reportedly, rates quoted in the FBR valuation tables for properties in many areas of Peshawar are higher than their market rates. Furthermore, <a href=\"http:\/\/www.zameen.com\/blog\/old-dc-rate-stands-valid-for-several-cda-sectors-in-islamabad.html\" target=\"_blank\" rel=\"noopener noreferrer\">Old DC rate is still applicable<\/a> for calculating property taxes in different zones of Islamabad.<\/p>\n<p>A detailed autopsy of the valuation tables has been done by the Pakistan Hosiery Manufacturers and Export Association (PHMEA). PHMEA Chief Coordinator Jawed Bilwani wrote a letter to the prime minister on behalf of the industrial and commercial sectors, identifying some major discrepancies in <a href=\"http:\/\/www.zameen.com\/blog\/property-valuation-tables-for-major-cities-in-pakistan.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR valuation tables<\/a>. Coming direct from the industrial sector, this feedback can\u2019t be based on personal interest or in support of the black money that had, reportedly, made the real estate sector too expensive for common people and genuine buyers.<\/p>\n<p>According to Bilwani, property in Sindh is measured in square yards, while in Baluchistan, property is measured\u00a0in square feet. In Punjab and Khyber Pakhtunkhwa marla is the unit of measurement for property area, the size of which is not the same in all cities of these two provinces. He also highlighted that property in Sindh is categorised into commercial, residential, and industrial plots, with industrial property further classified into built-up and open plot categories. Whereas, there is no industrial category in the FBR valuation tables issued for properties in Punjab, Khyber Pakhtunkhwa and Baluchistan.<\/p>\n<p>Balwani has also identified that the per square foot rate mentioned in <a href=\"http:\/\/www.zameen.com\/blog\/fbr-releases-property-valuation-tables-for-real-estate-in-karachi.html\" target=\"_blank\" rel=\"noopener noreferrer\">Karachi\u2019s FBR valuation tables<\/a> for Category I and II industrial plots is the same for built-up properties, but it is different for open plots, which is unfair. And as there is no industrial category to impose FBR\u2019s new taxes on the industrial property in other provinces, this categorisation for property in Sindh is quite discriminatory.<\/p>\n<p>This doesn\u2019t end here, Bilwani also finds the FBR rates for developed areas housing industrial plots unjustifiable. According to him, the per square foot construction cost of industrial plot in Karachi lies between PKR 800 and PKR 1000 but the government has fixed the FBR rate at PKR 3,000 for calculating property tax.<\/p>\n<p>Bilwani is of the view that the FBR rates will leave adverse effects on Karachi \u2013 a city from where 54 percent of the total tax is earned by the authority. Let\u2019s see how FBR responds to discrepancies pointed out by Bilwani.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The valuation tables released by the Federal Board of Revenue (FBR) on July 01, 2016 for the purpose of property tax calculation have met with criticism by real estate brokers, investors, property owners and even from industrialists. In some cases, these concerns do seem valid as the scale to measure property size and the categories to classify different property types aren\u2019t the same in all provinces of Pakistan. Based on the reservations expressed by the DHA, there might be a revision in valuation tables for DHA projects. With these revisions, concerns of other stakeholders should also be addressed. Reportedly, rates quoted in the FBR valuation tables for properties in many areas of Peshawar are higher than their market rates. Furthermore, Old DC rate is still applicable for calculating property taxes in different zones of Islamabad. A detailed autopsy of the valuation tables has been done by the Pakistan Hosiery Manufacturers and Export Association (PHMEA). PHMEA Chief Coordinator Jawed Bilwani wrote a letter to the prime minister on behalf of the industrial and commercial sectors, identifying some major discrepancies in FBR valuation tables. Coming direct from the industrial sector, this feedback can\u2019t be based on personal interest or in support of&hellip;<\/p>\n","protected":false},"author":18,"featured_media":23213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[3306,129],"persona":[],"class_list":{"0":"post-23211","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-update-on-property-tax","9":"tag-zameen-com","10":"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>FBR valuation tables aren\u2019t perfect for Sindh: Javed Bilwani - Zameen News<\/title>\n<meta name=\"description\" content=\"The valuation tables released by the Federal Board of Revenue (FBR) on July 01, 2016 for the purpose of property tax calculation have met with criticism\" \/>\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\/fbr-valuation-tables-arent-perfect-for-sindh-javed-bilwani.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR valuation tables aren\u2019t perfect for Sindh: Javed Bilwani - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The valuation tables released by the Federal Board of Revenue (FBR) on July 01, 2016 for the purpose of property tax calculation have met with criticism\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-valuation-tables-arent-perfect-for-sindh-javed-bilwani.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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