Revision of Value of Immovable Properties of Karachi

Government of Pakistan Revenue Division Federal Board of Revenue ***** Islamabad, the 2nd March, 2022 Notification (Income Tax) S.R.O. 345(I)/2022.- 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. 1551(I)/2021, dated the 1st December, 2021, 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 catagories of areas of Karachi as specified in column (1) thereof, namely:- Table KARACHI Category Residential open plot Residential Built up property Commercial Amenity Commercial Industrial Industrial Built Flats/apartmen per square yard per square yard Built up plot per open plot per open plot per up property ts per square property per square square yard square yard per square foot foot square yard yard (1) (2) (3) (4) (5) (6) (7) (8) (9) A-I 73,125 81,000 180,000 103,500 - - 7,313 37,375 I+ - - 160,000 80,000 -- - - - 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 46,000 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 52,000 33000 - - 2,750 6,000 X 12,320 14,300 60,500 36,300 - - 3,220 7,000 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 entire plot area plus covered area of the plot per square foot; (v) 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 in 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. 44 of Appendix means a building with Storeys above ground plus five. (xii) The value of residential built up property(including basement and first floor) is allowed to be reduced according to the following criteria:- Percentage Reduction in Sr.No Age of Built up Structure Value No reduction allowed 1 Upto 5 Years 5% 2 5 to 10 Years 7.50% 3 10 to 15 Years 10% 4 15 to 20 Years 5 More than 20 Years Value equal to open plot

(xiii) The value of built up property (Flats and Apartments) is allowed to be reduced according to the following criteria:- Percentage Reduction in Sr.No Age of Built up Structure 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% (xiv) The value of commercial built up property is allowed to be reduced according to the following criteria:- Percentage Reduction in Sr.No Age of Built up Structure Value 1 Upto 10 Years No reduction allowed 2 10-15 Years 5% 3 15 to 20 Years 8% 5 More than 20 Years 10% (xv) The value of Commercial Plots of Defence Housing Authority facing Khayaban is increased by 10%; (xvi) The value of commercial built up excluding ground floor is reduced by 25%; (xvii) The value of Residential Plots (Defence Housing Authority) of following categories may be decreased by 25%:- 1 Nala facing plot 2 Commercial facing plot 3 School facing,mosque facing plot/Graveyard facing plot. 4 Rear plot (Back Side plot)/Triangle plot *Rear plot is the one lying behind the front portion only connected with separate narrow corridor and not visible from road. (xviii) Area-wise categories are in the following Appendix:- APPENDIX AREA-WISE CATEGORY FOR VALUATION IN KARACHI Residential Commercial Industrial S.No. Area Flats Category Category Category Category 1 Abdullah Haroon Road 1 A-I I I 2 Air force Officers Cooperative Housing Society at Scheme-33 I I II I 3 Akhtar Colony III III Il III 4 Al-Falah Cooperative Housing Society III 11 II III 5 Al-Hilal Cooperative Housing Society 1 1 I I 6 Ali Basti V V Il V 7 Aminabad Ill III II III 8 Area Facing Drig Colony(PIA green Col) IV IV II IV 9 ArtilaryMaidan Quarters 1 1 I 1 10 Ashraf Nagar IV IV II IV 11 Askari I,II,III,IV,V A-I A-I - - 12 AzamBasti III III l I 111 13 Baba Bhit Island IV IV II lV Bahria Town Karachi superhighway (excluding precinct 1,2,5,8,19 14 X X X X and Jinnah Commercial & Midway Commercial (A&B) Bahria Town Karachi superhighway Jinnah Commercial & Midway - I - II 15 Commercial (A&B) 16 Bahria Town Karachi superhighway precinct 1,2,5,8,19 I I II II 17 Bakshan Village 1 V IV II IV 18 Baldia Town VI VI II Vl 19 Baloch Colony I II III II III 20 Bandar Quarters 1 I I 1 21 Bath Island A-I II A-I A-I 22 Bath Island Facing Khayaban E Iqbal Road A-I A-I A-I A-I 23 Behar Colony Clayton Road III III I I Ill 24 Bhori Bazar III A-I I III 25 Bhutta Village V V II V

26 Bin Qasim (Pipri Excluding Gulshan-e-hadeed) V V I V 27 Bombay Bazar I A-I I I 28 Buffer Zone III I I III 29 Burns Road I l I I 30 Cattle Colony V V III V 31 Chandni Chowk KDA Scheme-7 III 32 Chandio Village PS Defence IV IV II iv 33 Chanesar Goth V V II V 34 Civil Lines A-I A-I I I A-I 35 Clifton Bock-I I A-I II I Clifton Quarters Excluding Shireen Jinnah Colony and Clifton 36 A-I A-I II A-I Bock-I Comisioner Society and humayun street(DHA phase VII extension 37 II II II II & VIIIextension) Commercial plots facing on Jinnah Avenue Scheme-33, (Sector-40) 38 - I - II 39 Daraklishan Cooperative Housing Society III II II III 40 Darussalam and Lucknow Cooperative Society. I I II III 41 Darussalam and Lucknow Cooperative Society. I I II III 42 Defence Housing Authority Phase I, II, III,IV,V,VI,VII,VIII A-I I+ I II Defence Housing Authority Phase VII Extension, Phase VIII 43 A-I I I II Extension (excluding commissioner society and humayun street) 44 Defence Housing Authority High Rises - - - A-I 45 Defence Officers Housing Scheme, Malir A-I A-I A-I I 46 Deh Drig IV IV II IV 47 Deh Khata IV IV II IV 48 Dehli Colony III III II III 49 Dehli Mercantile A-I A-I I I 50 DehThanno V V II V 51 Depot Line L l I I 52 DHA Phase-IX DHA City (excluding sector 1 & 3) V V - V 53 DHA Phase-IX DHA City Sector 1 & 3 IX IV - IX 54 Dhoragi Cooperative Housing Society A-I A-I I A-I 55 Doda Village V V II V 56 Drig Cantonment III III II III 57 Ejaz Colony III III II lII 58 Fatima Jinnah Colony L l L I 59 Federal B Area (Block-1,2,3,7,8,9,14,15,16,17,18 & 19) III III III III 60 Federal B Area (Block-4,5,6,10,11,12 & 13) II II II II 61 Firdous Colony II 11 I 111 62 Frere Quarters A-1 A-1 1 A-1 63 Future Colony V V 11 V 64 G. Allan road I I I I 65 Garden East Quarters A-I I I A-I 66 Garden West Quarters I I I I General Society/Defence Officers Housing Socity near Stadium 67 A-I A-I II A-I Road, Karachi 68 Ghulam Hussain Qasin Quakers I I I I 69 Gizri Village IV l V II IV 70 Government Approved Katchi Abadies VI VI II VI 71 GulBai V V I V 72 Gulistan-e-Jauhar (Block-2,3,14,15,&16) I I I II 73 Gulistan-e-Jauhar (excluding block-2,3,14, 15 &16) II II II III 74 Gulnar Cooperative Housing Society I I I II 75 Gulshan-e- Faisal I I I I 76 Gulshan-e-Hadeed IV IV I IV 77 Gulshan-e-Iqbal Block (4,6,7) I I I I 78 Gulshan-e-Iqbal Block-17 A-I A-I I A-I 79 Gulshan-e-Iqbal Excluding Block (4,6,7&17) II II I III 80 Gulshan-e-Jamal Project-II II II I III 81 Gulshan-e-Maymar (excluding sector W, Y & Z) IV IV III IV 82 Gulshan-e-Maymar (Sector 51/52) II II III III 83 Gulshan-e-Maymar (Sector W, X & Z) II II III III

84 Haji Mureed Goth V V II V 85 HarchaiidraiVishandas Quarters II II I II1 86 HasratMohani Colony IV IV II IV 87 Hawks Bay V V II V 88 Hyderabad Colony III III II III 89 I.I. Chundrigar Road I A-I I I 90 Iqbal Colony III III II III 91 Ishaqabad IV IV II IV 92 Jacobline (Inluding Lines Area) II II I II 93 Jamoria Colony III III II III 94 Jamshed Quarters I I I I 95 Joria Bazar II A-I I I 96 Junna Market I I I I 97 K.B.R. V V II V 98 K.D.A. Officers Housing Society A-I A-I I A-I 99 K.D.A. Scheme No.1 & 1A A-I A-I I A-I 100 Kagzi Bazar I I I I 101 Karachi Administrative Cooperative Housing Society A-I I I A-I 102 Karachi Cooperative Housing Society A-I I I A-I 103 KausarNiazi Colony V V II V 104 Khaliquzaman Colony III III II III 105 Khanto Colony V V II V 106 Khokhrapar V V II V 107 Khudadad Colony III III II III 108 Kiamari IV IV II IV 109 Kolachi Co-operative Housing Society I I III I 110 KorangiInsustrial Area II II II II 111 Korani Township V V II V 112 Laiqabad V V II V 113 LandhiInsustrial Area III III II III 114 Landi Township KDA IV IV II IV 115 Lawrance Quarters II II I II 116 Lea Quarter III III II III 117 Liaqatabad IV IV II IV 118 Liquat Ashraf Colony VI IV II VI 119 llanchor Quarters 11 11 I 11 120 Lyari Quarters V V II V 121 M.A Jinnah Road I I I I 122 Mahajir Colony VI VI II VI 123 Mahmoodabad III III II IV 124 Malir Cantonment III III III IV 125 Malir City V V II V 126 Manghopir Road & Adjacent Locality VI VI II VI 127 Manora IV IV II IV 128 Maripure IV IV II IV 129 Market Quarters I I I I 130 Marriot Road II A-I I I 131 Metrovil 2 Corridor Area III III II III 132 Metrovil I IV IV II IV 133 Metrovil II & III KDA V V II V 134 Model Colony III III III III 135 Modern Colony III III II III 136 MolJee Street I I I I 137 Muhammad Ali Cooperative Housing Society A-I A-I I A-I 138 Muslim Colony II II I II 139 Muslim Leage Quarter III III III III 140 Mustafa Abad V V II V 141 Nafisabad III III II III 142 Nasim Colony V V II V 143 National Cemetn Employees Cooperativ II II I II 144 Navel Colony IV II II IV 145 Nazimabad II II I II 146 Neelum Colony III III II III

147 Nepiar Quarter II I II II 148 Nevel Colony IV II II IV 149 New Challi 1 A-I I I 150 New Golimar V V II V 151 NORE-II A-I A-I - A-I 152 North Karachi (All sectors except 1 to 6) III III II III 153 North Karachi Industrial Area (Sector-12) V IV II IV 154 North Karachi Industrial Area (Sector-12) V IV II IV 155 North Karachi (sector 1 to 6) IV IV II IV 156 North Nazimabad (Block-B & F) I I I I 157 North Nazimabad (excluding Block-B & F) II II II II 158 Nusrat Bhutto Colony V V II V 159 Old Frere Street I I I I 160 Old Golimar V V II V 161 Old Town Quarters I I I I 162 Orangabad Quarters IV IV II IV 163 Orangi Town V V II V 164 P.I.B. COLONY III III II III 165 P.S. Mahmoodabad I I I 166 Pak Colony III III II III 167 Pakistan Employees Cooperative Housing Society A-I A-I I A-I Pakistan Railway Employees Coop Housing Society, Project 2A-1, VI VI - VI 168 Depot Hill Station 169 Paposh Nagar Quarters IV IV II IV 170 Paria Street I I I I 171 Parsi Colony (Silence Towers) I I II I 172 Pasban Muhallah V V II V 173 Peerabad V V II V 174 Port Qasim V IV II IV 175 Preedy Quarters I I I I 176 Qaidabad V V II V 177 Qasba Colony V V II V 178 Qasimabad IV IV II IV 179 Queens Road Quarters I A-I I I 180 R.A. Lines I I I I 181 Rafa e Aam Cooperative Housing Society III III II III 182 Railway Quarters I A-I I I 183 Ram Bagh Quarters I I I I 184 Ram Sawami Quarters 11 11 I 11 185 Rizvia Colony II 11 I II 186 Sadar Bazar Quarters 1 l I l 187 Saeedabad IV IV 11 lV 188 Saleh Mohammad Street Housing Society I A-I I I 189 Sands Pit V V 1I V 190 Sarafa Bazaar I A-I I A-I 191 Saudabad IV IV II IV 192 Scheme-33 (excluding Metroville-III) IV IV II IV 193 Shah Faisal Colony V V II V 194 Shah Faisal Town III III II III 195 Shah Latif Town Scheme-25 KDA VI VI II VI 196 Shahrah e Iraq I 1 1 I 197 Shahrah-e-Faisal I A-I I 1 198 Shahrah-e-Liaquat (Frere Road) I I I I 199 Shanti Nagar V V II V 200 Shershah Colony & Village V V 11 V 201 Shireen Jinnah Colony VIII VII I VIII VIII 202 Sindhi Muslim Cooperative HousingSociety A-1 1 I A-I 203 Siraj Quarters I A-I I I 204 SITE II Superhighway V IV II IV 205 SITE Industrial Area - - I - 206 Soldier Bazar Quarters II lI I 11 207 South Napier Road 1 1 I I 208 Surjani Town KDA Scheme-41 VI VI III VI

209 Tahilram Quarters 11 11 I II 210 Up Muhajireen Society V V 11 v 211 Upper Gizri PS Gizri A-I I I A-I 212 Usmani Colony Society Near Rizvia Col Ill III 11 III 213 Wadhomal Odhoram Quarters II I II II 214 Waheedabad V V II V 215 Wilayatabad lV IV 11 IV 216 Zaibunnisa Street I A-I I I ________________________________________________________________________________________________________________________ [File No. 1(121)R&S/2017 ( Muhammad Masood Ahmed Gorsi ) Secretary (Rules & SROs)