Property Rates to be Revised in Upcoming Budget, Says Punjab Govt.

After consultation with the respective jurisdictions, Punjab Government on Thursday 22nd April has taken a stance to revise the valuation table rates upwards.

Official Spokesperson statement included that All of the Deputy Commissioners and collectors of the districts received an Official letter from Punjab’s board of revenue under Section 27-A of the Stamp Act 1899 read with Punjab Stamp. The Valuation table must be notified before the upcoming Accounting year on 30th June 2021.

There are total of Three valuation rates exist for the properties:

1. Notified By FBR
2. Notified By DC’s in their Jurisdiction
3. Actual Valuation or Market Valuation according to the specific areas.

The Spokes Person of the Federation of Pakistan Chamber of Commerce and Industries for real estate Ehsan Malik held a meeting with Punjab’s Revenue board Member Hayyat Tarrar, Both Agreed to improve the valuation tables of Properties in the Province.

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