DHA Karachi: On November 1, 2024, the Federal Board of Revenue (FBR) issued updated property valuations for the city’s residential, commercial, and industrial zones under SRO 1724(I)/2024
The new values, which replace the 2022 rates, attempt to standardize valuations of taxes based on current economic realities.
Prime locations like the Defence Housing Authority (DHA) and Clifton have seen the greatest values. For example, DHA Karachi Phase V in Zamzama achieved an enterprise built-up rate of Rs75,000 per sq ft and a residential built-up rate of Rs60,000 per sq ft.
At the same time, the Army Officers Housing Scheme near the National Stadium charged Rs50,000 per square foot for open plots, rising to Rs75,000 per square foot for commercially developed areas.
The Air Force Officers Housing Scheme, Baloch Colony assessments are Rs30,000 per sq ft for open homes and Rs45,000 per sq ft for commercial built-up units.
Federal B Area plots in mid-tier locations start at Rs1,400 per square foot for open residential and Rs12,000 per square foot for commercial built-up.
According to the paper, the commercial open land in Nazimabad costs Rs12,000 per square foot.
Open plots in industrial zones, such as the Korangi Industrial Area, are worth Rs2,600 per square foot, whereas built-up industrial sectors get Rs3,400 per square foot.