ISLAMABAD (Kashmir English): The Federal Board of Revenue (FBR) 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. Multan received new changes which only affected particular areas instead of implementing citywide revaluation.
The revisions were introduced through amendments to the earlier 2024 notification, with only certain localities and property categories updated. Faisalabad adopted an approach that allowed FBR to modify property listing while keeping its complete valuation system untouched.
The officials explained that the changes served to improve market value assessments, which applied to specific urban areas. The Bahawalpur revision concentrated on DHA Bahawalpur and the Askari Housing Scheme. Gujranwala introduced new property valuations which applied to defence and Askari schemes and to upscale private housing projects such as Palm City.
The Federal Board of Revenue in Sialkot changed specific serial numbers while establishing new value rates for residential open plots and constructed properties across different locations.
The officials implemented these changes to establish more accurate property values for official use without conducting complete revaluation procedures throughout entire cities. The property valuation framework in Islamabad had already undergone three separate revisions during the current year.
A notification issued in December last year was first suspended, then revised downward in February, and later amended again. The Federal Board of Revenue established a new valuation system, which allows a 10% to 35% reduction for multiple urban sectors through its April 16 notification as a response to stakeholder concerns while offering financial relief to both buyers and sellers.
