Revision of Value of Immovable Properties of Karachi

Government of Pakistan Revenue Division Federal Board of Revenue ***** Islamabad, the 1st December, 2021. NOTIFICATION (Income Tax) S.R.O. 1551(I)/2021.- In exercise of the powers conferred by sub-section (4) of section 68 of the Income Tax Ordinance, 2001 (XLIX of 2001) and in supersession of its Notification No. S.R.O. 837(I)/2021 dated the 23rd July, 2019, the Federal Board of Revenue is pleased to determine the following fair market value of immoveable properties as specified in columns (2) to (9) of the Table below, in respect of categories of areas of Karachi as specified in column (1) thereof, namely:- KARACHI Categ Residential Residential Commercial Commercial Industrial Industrial Flats / Amenity ory open plot Built up open plot per Built up open plot Built up apartme plot per per square property per square yard property per per property nts per square yard square yard square yard square per square yard yard square yard yard (1) (2) (3) (4) (5) (6) (7) (8) (9) A-I 73,125 81,000 180,000 101,250 - - 7,313 37,375 I 45,000 56,250 123,750 73,125 12,124 3,105 6,188 23,000 II 22,800 30,800 106,875 56,250 13,824 3,336 3,375 10,925 III 12,000 16,875 28,600 28,800 6,000 3,336 2,138 5,750 IV 9,563 11,250 38,250 16,875 - - 1,688 4,888 V 6,000 7,800 10,140 11,375 - - 944 1,680 VI 1,665 4,995 3,600 5,994 - - 605 840 VII 35,520 44,400 127,650 61,050 - - 7,770 17,920 VIII 9,990 15,540 48,000 49,248 - - 3,330 5,040 IX 11,000 13,200 - - - - 2,750 - X 12,320 14,300 - - - - 3,220 - Notes: (i) Values in the above Table are in rupees; (ii) Value is per square yard of the covered area of ground floor plus covered area for the additional floors; (iii) Commercial property built up value is per square yard of the covered area of the ground floor plus covered area of the additional floors, if any; (iv) built up industrial property value is per square yard of the plot area per square foot;

(v) the value in respect of a residential building consisting of more than one storey shall be increased by 25% for each additional story i.e. value of each storey other than ground floor shall be calculated @25% of the value of the ground floor; (vi) a property which does not appear to fall in any of the categories shown in the Appendix below shall be deemed to fall I the adjacent lowest category of the Appendix; (vii) whether the land has been granted for more than one purpose. viz residential, commercial and industrial, the valuation in such a case shall be the mean/average prescribed rate; (viii) a flat means the covered residential tenement having separate property nit number/sub- property unit number; (ix) in residential, multi storey building, additional storey shall be charged if it consists of bed room and bath room; (x) the rates for basements of built in commercial property in categories I,II,II and IV shall be Rs. 13,500 per square yard; and (xi) High Rises at Serial Number No. 37 of Appendix means a building with Storeys above ground plus five. (xii) The Value of Residential built up property is allowed to be reduced according to the following criteria: Sr. No Age of Built up Structure Percentage Reduction in Value 1 Upto 5 Years No reduction allowed 2 5 to 10 Years 5% 3 10 to 15 Years 7.5% 4 15 to 20 Years 10% 5 More than 20 Years Value equal to open plot i. The Value of built up property (Flats and Apartments) is allowed to be reduced according to the following criteria: Sr.No Age of Built up Structure Percentage Reduction in Value 1 Upto 5 Years No reduction allowed 2 5 to 10 Years 10% 3 10 to 20 Years 20% 4 20 to 30 Years 30% 5 More than 30 Years 50%

(xiii) area-wise categories are in the following Appendix. APPENDIX AREA-WISE CATEGORY FOR VALUATION IN KARACHI S.No. Area Residential Commercial Industrial Flats Category Category Category Category 1. Abdullah Haroon Road 1 A-I I I 2. Akhtar Colony III III Il III 3. Al-Falah Cooperative Housing III 11 II III Society 4. Al-Hilal Cooperative Housing 1 1 I I Society 5. Ali Basti V V Il V 6. Aminabad Ill III II III 7. Area Facing Drig Colony(PIA IV IV II IV green Col) 8. Artilary Maidan Quarters 1 1 I 1 9. Ashraf Nagar IV IV II IV 10. Azam Basti III III l I 111 11. Baba ABhit Island IV IV II lV 12. Bakshan Village 1 V IV II IV 13. Baldia Town VI VI II Vl 14. Baloch Colony I I I III II III 15. Bandar Quarters 1 I I 1 16. Bath Island A-I II A-I A-I 17. Bath Island Facing Khayaban E A-I A-I A-I A-I Iqbal Road 18. Behar Colony Clayton Road III III I I Ill 19. Bhori Bazar III A-I L III 20. Bombay Bazar I A-I L I 21. Burns Road L l L I 22. Chando V image PS Defence IV IV II iv 23. Chanesat Goth V V II V 24. Civil Lines A-I I I I A-I 25. Clifton Bock-I II II II II 26. Clifton Quarters Excluding Shireen A-I I II A-I Jinnah Colony and Clifton Bock-I 27. Daraklisahn Cooperative Housing II1 11 I I llI Society 28. Defence Housing Authority Phase A-I l L II I, 11, 111& V 29. Defence Housing Authority Phase I A-I l L II V 8 VI 30. Defence 1-housing Authority Phase A-I l L II

VII 31. Defence Housing Authority Phase Vl1 Extension, Phase VlII & A-I l L II Phase V111 Extension 32. Defence Housing Authority High - - - A-I Rises 33. Deh Khata IV IV II IV 34. Dehli Colony III III II III 35. Depot Line L l L I 36. Doda Village V V II V 37. Ejaz Colony III III II lI! 38. Fatima J innah Colony L l L I 39. Firdous Colony II 11 I 111 40. Frere Quarters L l 1 I 41. Future Colony V V 11 V 42. G. Allan road I I I I 43. Garden East Quarters A-I I I A-I 44. Garden West Quarters I I I I 45. Ghulam Hussain Qasin Quakers I I I I 46. Gizri Village IV l V II IV 47. Government Approved Katchi VI VI II VI Abadies 48. Gul Bai V V I V 49. Gulistan-e-Johar II II II Ill 50. Gulshan-e- Faisal I I I I 51. Haji Mureed Goth V V II V 52. Harchaiidrai Vishandas Quarters II II L II1 53. Hasrat Mohani Colony IV IV II IV 54. Hawks Bay IV IV II IV 55. Hyderabad Colony III HI II III 56. I.I. Chundrigar Road I A-I I I 57. Iqbal Colony III III II III 58. Ishaqabad IV IV II IV 59. Jacobline (Inluding Lines Area) II II I II 60. Jamoria Colony III III II III 61. Jamshed Quarters I I I I 62. Joria Bazar II A-I I I 63. Junna Market I I I I 64. K.D.A. Scheme No.l & 1A A-I I I A-I 65. K.P.T. Industrial Area - - - - 66. Kagzi Bazar I I I I 67. Karachi Administrative Cooperative A-I I I A-I Housing Society 68. Karachi Cooperative Housing A-I I I A-I

Society 69. Kausar Niazi Colony V V II V 70. Khaliquzaman Colony III III II III 71. Khanto Colony V V II V 72. Khokhrapar V V II V 73. Khudadad Colony III III II III 74. Kiamari IV IV II IV 75. Laiqabad V V II V 76. Lawrance Quarters II II I II 77. Lea Quarter III III II III 78. Liaqatabad IV IV II IV 79. Liquat Ashraf Colony VI IV II VI 80. Lyari Quarters V V II V 81. M.A Jinnah Road I I I I 82. Mahajir Colony VI VI II VI 83. Mahmoodabad III III II IV 84. Manghopir Road & Adjacent VI VI II VI Locality 85. Manora IV IV II IV 86. Maripure IV IV II IV 87. Market Quarters I I I I 88. Marriot Road II A-I I I 89. Metrovil I IV IV II IV 90. MolJee Street I I I I 91. Muslim Colony II II I II 92. Muslim Leage Quarter III III III III 93. Mustafa Abad V V II V 94. Nafisabad III III II III 95. Nasim Colony V V II V 96. Navel Colony IV II II IV 97. Nazimabad II II I II 98. Neelum Colony III III II III 99. Nepiar Quarter II I II II 100. Nevel Colony IV II II IV 101. New Golimar V V II V 102. New Challi 1 A-I I I 103. Old Frere Street I I I I 104. Old Golimar V V II V 105. Old Town Quarters I I I I 106. Orangabad Quarters IV IV II IV 107. Orangi Town V V II V 108. P.I.B. COLONY III III II III 109. P.S. Mahmoodabad I I I 110. Pak Colony III III II III

111. Pakistan Employees Cooperative A-I A-I I A-I Housing Society 112. Paposh Nagar Quarters IV IV II IV 113. Paria Street I I I r 114. Parsi Colony (Silence Towers) I I II I 115. PasbanMuhallah V V II V 116. Peerabad V V II V 117. Preedy Quarters I I I I 118. Qaidabad V V II V 119. Qasimabad IV IV II IV 120. Queens Road Quarters I A-I I I 121. R.A. Lines I I I I 122. Rafa e Aam Cooperative Housing III III II III Society 123. Railway Quarters I A-I I I 124. Ram Bagh Quarters I I I I 125. Ram Sawami Quarters 11 11 I 11 126. llanchor Quarters 11 11 L 11 127. Rizvia Colony II 11 L II 128. Sadar Bazar Quarters 1 l L l 129. Saeedabad IV IV 11 lV 130. Saleh Mohammad Street Housing I A-I I I Society 131. Sands Pit V V 1I V 132. Sarafa Bazaar L A-I I A-I 133. Shahrah e Iraq I 1 1 I 134. Shahrah e Liaqat (Farriar Road) I I 1 I 135. Shahrah-e-Faisal I A-I I 1 136. Shahrah-e-Liaquat (Frere Road) I I I I 137. Shershah Colony & Village V V 11 V 138. Shireen Jinnah Colony VIII VII I VIII VIII 139. Sindhi Muslim Cooperative A-1 1 I A-I Housing Society 140. Siraj Quarters I A-I I I 141. SITE Industrial Area - - I - 142. Soldier Bazar Quarters II lI I 11 143. South Napier Road 1 1 I I 144. Tahilram Quarters 11 11 I II 145. Up Muhajireen Society V V 11 v 146. Upper Gizri PS Gizri A-I I I A-I 147. Usmani Colony Society Near Ill III 11 III Rizvia Col 148. WadhomalOdhoram Quarters II I II II 149. Waheedabad V V II V 150. Wilayatabad lV IV 11 IV

151. Zaibunnisa Street I A-I I I 152. Air force Officers Cooperative I I II I Housing Society at Scheme-33 153. Askari I,II,II,IV,V A-I A-I - - 154. Bahria Town Karachi superhighway X X X X (excluding precinct 1,2,5,8,19 and Jinnah Commercial & Midway Commercial (A&B) 155. Bahria Town Karachi superhighway - I - II Jinnah Commercial & Midway Commercial (A&B) 156. Bahria Town Karachi superhighway I I II II precinct 1,2,5,8,19 157. Bhutta Village V V II V 158. Bin Qasim (Pipri Excluding V V I V Gulshan-e-hadeed) 159. Buffer Zone 14-A,14-A,15-A-I,15- III I I III A-II MI 160. Cattle Colony V V III V 161. Chandni Chowk KDA Scheme-7 III 162. Commercial plots facing on Jinnah - I - II Avenue Scheme-33, (Sector-40) 163. Darus salam and Lucknow I I II III Cooperative Society. 164. Defence Officers Housing Scheme, A-I A-I A-I I Malir 165. Deh Dring IV IV II IV 166. Deh Thanno V V II V 167. Dehli Mercantile A-I A-I I I 168. DHA Phase-IX DHA City Sector 1 IX IX - IX & #) 169. DHA Phase-IX DHA City V V - V (excluding sector 1 & 3) 170. Dhoragi Cooperative Housing A-I A-I I A-I Society 171. Dring Cantonment III III II III 172. Federal B Area II II I III 173. General Society/Defence Officers A-I A-I II A-I Housing Socity near Stadium Road, Karachi 174. Gulistan e Jauhar (Block- I I I III 1,2,3,14,15,16) 175. Gulistan e Jauhar (excluding- II II II III 1,2,3,14,15,16) 176. Gulnar Cooperative Housing Society I I I II 177. Gulshan-e-Hadeed IV IV I IV 178. Gulshan-e-Iqbal Block (4,6,7,) I I I I 179. Gulshan-e-Iqbal Block-17 A-I A-I I A-I

180. Gulshan-e-Iqbal Excluding Block II II I III (4,6,7&17) 181. Gulshan-e-Jamal Project-II II II I III 182. Gulshan-e-Maymar (Sector 51/52) II II III III 183. K.B.R. V V II V 184. K.D.A. Officers Housing Society A-I A-I I A-I 185. K.D.A. Scheme No.1 & 1A A-I A-I I A-I 186. Kolachi Co-operative Housing I I III I Society 187. Korangi Insustrial Area II II II II 188. Korani Township V V II V 189. Landhi Insustrial Area III III II III 190. Landi Township KDA IV IV II IV 191. Malir Cantonment III III III IV 192. Malir City V V II V 193. Metrovil 2 Corridor Area III III II III 194. Metrovil II & III KDA V V II V 195. Model Colony III III III III 196. Modern Colony III III II III 197. Muhammad Ali Cooperative A-I A-I I A-I Housing Society 198. National Cemetn Employees II II I II Cooperativ 199. NORE-II A-I A-I - A-I 200. North Karachi (All sectors except 1 III III II III to 6) 201. North Karachi Industrial Area V IV II IV (Sector-12) 202. North Karachi sector 1 to 6) IV IV II IV 203. North Nazimabad (excluding block- I I I I O,Q,R,S,T) 204. North Nazimabad Block- O,Q,R,S,T II II II II 205. Nusrat Bhutto Colony V V II V 206. Pakistan Railway Employees Coop V V - IV Housing Society, Project 2A-1, Depot Hill Station 207. Port Qasim V IV II IV 208. Qasba Colony V V II V 209. Saudabad IV IV II IV 210. Scheme-33 (excluding Metroville- IV IV II IV III) 211. Shah Faisal Colony V V II V 212. Shah Faisal Town III III II III 213. Shah Latif Town Scheme-25 KDA VI VI II VI 214. Shanti Nagar V V II V 215. SITE II Superhighway V IV II IV 216. Surjani Town (Scheme V V II V No.41)Remaining

217. Surjani Town (Scheme No.41) Sub- V V II V Sector 4. The valuation of Built-up constructed residential property will be considered on the same rates as open plot residential property if the aging of construction is over thirty years. _______________________________________________________________________________________ [F.No. 1(121)R&S/2017] ( Tariq Iqbal ) Secretary (Rules & SROs)