The Federal Board of Revenue (FBR) has revised the valuation of immovable property in the rural areas of Islamabad Capital Territory (ICT), linking it to the latest rates issued by the Additional Deputy Commissioner (Revenue)/District Collector. An SRO issued on Thursday stated: "The Federal Board of Revenue is pleased to make the following further amendment to its Notification No. S.R.O. 644(I)/2026, dated 16th April, 2026: In the aforesaid Notification, for paragraph 3, the following shall be substituted: Valuation of Rural Areas of Islamabad Capital Territory shall be taken as per the latest valuation issued from time to time by the Additional Deputy Commissioner (Revenue)/District Collector, Islamabad."
Through S.R.O. 2060(I)/2026, the FBR has also determined fair market values of immovable properties in various areas of Abbottabad under Section 68 of the Income Tax Ordinance, 2001, superseding the earlier S.R.O. 1679(I)/2024 issued on October 29, 2024. Under the revised schedule, residential and commercial open plots have been assigned separate rates per marla across different localities.
For residential plots, the valuation in Main Bazaar, Sadar Bazaar, Jinnah Masjid Bazaar, Sarafa Bazaar, Gurdwara Gali, and Kutcheri Road has been set at Rs1.25 million per marla, while Abbottabad Bazaar is valued at Rs970,000 and Iqbal Road at Rs800,000 per marla.
For commercial open plots, the highest valuation of Rs5.8 million per marla is assigned to Main Bazaar and adjoining specified areas. Abbottabad Bazaar is valued at Rs4.4 million, while Mansehra Road (from Fawara Chowk to Mian Gi Hotel) is set at Rs4 million per marla.
Other commercial valuations include Rs3.1 million per marla for Jinnahabad, Rs3 million for Havelian Bazaar and Nathia Gali Main Road, and Rs2.5 million for areas including College Road Mandian, Old College Road Mandian, Comsats Road, Murree Road, and Changla Gali. The notification also specifies valuation rates for newly constructed residential and commercial properties based on the building's age.
Properties up to five years old will be valued at Rs2,000 per square foot, buildings between five and 10 years old at Rs1,000 per square foot, and buildings older than 10 years at Rs500 per square foot. These rates will be added to the applicable land/property valuation rates specified in the notification.
This move is expected to streamline tax collection and ensure that property valuations reflect current market trends in these regions. The FBR has directed all relevant regional tax offices to implement these changes immediately.
Taxpayers are advised to consult the detailed annexures provided in the SRO for specific locality-based rates to ensure compliance with the updated tax filing requirements. Market experts suggest that these adjustments are part of the government's broader strategy to document the real estate sector and increase revenue collection from high-value urban and rural land transactions.
The revised valuations are expected to impact property transaction costs, including capital gains tax and stamp duties, across the specified regions of Abbottabad and the rural outskirts of the federal capital.