In 2024, the Federal Board of Revenue (FBR) in Pakistan released updated property valuation rates for Abbottabad, impacting Abbottabad property prices significantly. This official valuation table by the FBR helps in establishing fair market values for immovable properties in Abbottabad, including residential and commercial sectors. If you’re buying, selling, or investing in property in Abbottabad, understanding this updated FBR property valuation 2024 is crucial for making informed real estate decisions.
Table of FBR issued property valuation for Abbottabad 2024
| Sr.No | PLACE NAME | Residential
Open Plot (Sq ft) |
Residential
Built-up (Sq ft) |
Commercial
open plot (50 feet both sides of main road) (Sq ft) |
Commercial
Built-up (Sq ft) |
| 1 | Main Bazar, Sadar Bazar, Jinnah Road, Masjid Bazar, Sarafa
Bazar, GurdwaraGali, Kutcheri Road |
7,090 | 10,636 | 13,393 | 20,089 |
| 2 | Abbottabad Bazar | 5,790 | 8,640 | 13,695 | 20,542 |
| 3 | Iqbal Road | 6,066 | 9,191 | 7,169 | 11,029 |
| 4 | Mansehra Road | 4,504 | 10,478 | 15,993 | 23,897 |
| 5 | Jinnahabad | 8,211 | 16,422 | 13,480 | 17,770 |
| 6 | Habibullah Colony | 9,191 | 18,382 | – | – |
| 7 | Kaghan Colony | 5,607 | 11,213 | – | – |
| 8 | Bilal Town | 3,768 | 6,783 | 7,721 | 11,581 |
| 9 | Murree Road | 3,676 | 9,191 | 8,272 | 12,868 |
| 10 | Mirpur | 6,618 | 9,191 | 11,765 | 12,868 |
| 11 | NathiaGali | 7,353 | 12,000 | 12,868 | 17,868 |
| 12 | Donga Gali | 8,272 | 12,000 | 12,868 | 7,574 |
| 13 | Thandiani | 3,676 | 5,200 | 2,574 | – |
Source of the Above Table: FBR
FBR Property Valuation 2024 for Abbottabad and Its Impact on Market Prices
The FBR Property Valuation 2024 table provides updated market rates for various property types in Abbottabad, offering essential reference points for property taxation, transfers, and real estate transactions. This valuation plays a crucial role in establishing transparent property prices, and its adjustments reflect current market trends. For property stakeholders in Abbottabad, understanding these updated rates is vital for making informed decisions.
Key Property Types in Abbottabad
Residential Open Plot
A residential open plot refers to undeveloped land intended for future residential projects, such as homes or apartment buildings. These plots are vacant and ready for development.
Residential Built-up Plot
A residential built-up plot includes land that already has a structure, such as houses or apartments. The valuation for this property type factors in both the land and the existing buildings.
Commercial Open Plot
This category pertains to commercial open plots, which are vacant land suitable for future commercial development. These plots are usually located along main roads, making them prime locations for businesses.
Commercial Built-up Plot
A commercial built-up plot consists of land with existing commercial buildings like shops or offices. These properties hold added value due to their potential for business operations and investment.
How to Read the Abbottabad Property Valuation Table
The FBR’s 2024 property valuation table includes detailed columns that help users understand property prices across different areas in Abbottabad. Here’s how to interpret the columns:
- Residential Open Plot (Sq ft): This shows the fair market value per square foot for undeveloped residential plots, assisting buyers and sellers in assessing prices for vacant land intended for housing.
- Residential Built-up Plot (Sq ft): This column reflects the market value per square foot for developed residential plots, such as houses or apartments, providing clear guidance for transactions involving completed residential properties.
- Commercial Open Plot (50 feet both sides of main road) (Sq ft): This displays the value per square foot for commercial plots along main roads. Such locations are highly valued due to their strategic importance for businesses.
- Commercial Built-up Plot (Sq ft): This reveals the market value per square foot for land with existing commercial buildings, helping businesses evaluate properties in sought-after commercial areas.
Purpose and Importance of the FBR Valuation in Abbottabad
The FBR’s property valuation serves several important functions, contributing to the stability and transparency of the real estate market:
- Property Taxes: The valuation serves as a foundation for calculating property taxes, ensuring fair and consistent taxation across different property types and areas in Abbottabad.
- Property Transfers: Accurate valuations streamline property ownership transfers by providing standardized rates, helping to avoid discrepancies in pricing.
- Real Estate Transactions: The valuation table offers transparency, allowing buyers and sellers to base their negotiations on fair market rates. This clarity leads to smoother, more reliable transactions.
Understanding the FBR Property Valuation Increase in Pakistan
The increase in FBR property valuations across Pakistan is a reflection of rising property values driven by changing market dynamics. By updating the valuations, the FBR ensures that property prices in Abbottabad remain aligned with current market conditions, which supports equitable taxation. These higher valuations often signal a thriving real estate sector, making Abbottabad an appealing location for investors and homeowners.
Final Thoughts on FBR Property Valuation 2024 for Abbottabad
For anyone involved in the real estate sector, from buyers and sellers to investors, understanding the FBR property valuation 2024 for Abbottabad is essential. By providing a standardized measure for Abbottabad property prices, the FBR valuation table offers transparency and consistency in property transactions, ensuring that all dealings are fair and equitable.
Note:
This table is specific to Abbottabad and the values listed are only valid for that district. Property values can vary significantly across different regions in Pakistan.
Source: Click here to learn more about Valuation of Immovable Properties
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