I have a plot of 200 yard in korangi township karachi,if i calculated the value of my plot which specified in fbr notification.The value of my plot is 360,000. But the real market value of this plot is 80 lakhs. What’s this? I didn’t understand the new property notification, kindly help.
If you buy this plot you pay taxes and duty at the FBR rate of Rs 360,000 (9% if you are non filer) and as a seller you pay only gain tax if you are selling it within 3 years of purchase.
Within few years time FBR will increase its rate to match market rate. :(