The Federal Board of Revenue of Pakistan (FBR) has issued an S.R.O. 2300(I)/2022 dated 27-12-2022 under which property valuation rates in majority of Lahore have been decreased. Though there are some areas in the city where the same has been increased. This has been done to bring immovable properties in 1,271 regions of Lahore into compliance with the latest DC (district collector) rates as of January 1, 2023. If you need to know the latest property valuation rates in any area of Lahore, click on the link above. To find the previous or old property valuation rates in Lahore, click on S.R.O. 348(I)/2022.
This is a reflection of the present day Pakistan where recession and ever increasing inflation has decreased the demand, resulting in decrease in property valuation rates. The city’s real estate and property sector has been experiencing a slump for sometime. With the increasing cost of construction materials and labor, there is no immediate hope of the property sector getting back into action.
Let us know what you make of this news. And if you are looking to buy, rent or sell property anywhere in Pakistan, do check out OLX Pakistan’s property listings.
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