Punjab govt to revise property rates in upcoming budget
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April 22, 2021
ISLAMABAD: Punjab government has decided to revise upward its valuation table rates of properties in consultation with the stakeholders for their respective jurisdictions for the upcoming budget 2021-22, it is learnt.
Currently, there are three different valuation rates exist for properties as one notified by FBR, second valuation rates notified by DC in their respective districts and third actual valuation of the property on the basis of the actual value market value of property in each area of city or town.
According to official communication, sent out by Punjab’s Board of Revenue to all deputy commissioners/district collectors, stating that the collectors of districts are empowered to notify the rates of immoveable properties in the area of their jurisdictions under Section 27-A (1) of the Stamp Act, 1899 read with Punjab Stamp (Valuation Table in respect of Immoveable Property) Rules 1999. T