ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday issued the notification announcing the newly set property prices in Islamabad and Karachi.

According to the notification, Karachi has been divided into nine categories and residential and commercial plots have been assigned different prices.

Moreover, FBR has set prices for the already constructed residential and commercial properties.

Property prices in Karachi

Under category 'A-One' the prices are as follows (per square yard):

• Residential plots - Rs35,000
• House - Rs40,000
• Commercial property - Rs100,000
• Flats - Rs5,000 (per square feet)

This category comprises areas of Dhoraji, Clifton, Civil Line, DHA phase one and two.

Under category 'One' the prices are as follows (per square yard):

• Residential plots - Rs25,000
• House - Rs32,000
• Commercial property - Rs75,000
• Flats - Rs4,500 (per square feet)

The areas of DHA phase four and six, Bombay Bazaar, Burns Road, and Fatima Jinnah Colony make up category 'One'.

Under category 'Two' the prices are as follows (per square yard):

• Residential plots - Rs12,000
• House - Rs20,000
• Commercial property - Rs60,000
• Flats - Rs2,500 (per square feet)

Defence Housing Scheme Malir, Federal-B Area, and Firdouse Colony make up category 'Two'.

Under category 'Three' the prices are as follows (per square yard):

• Residential plots - Rs6,000
• House - Rs13,000
• Commercial property - Rs25,000
• Flats - Rs1,500 (per square feet)

Category 'Three' comprises areas of Bufferzone, KDA Scheme 7, Darakshan Cooperate Society, and Dehli Colony.

Property prices in Islamabad

According to the FBR notification the prices of plots in the federal capital have been increased from Rs22,000 to Rs56,000 per square yard in Sector-7.

Similar to Sector-7, the following areas of federal capital have seen price increase (per square yard):

• Sector F-6: from Rs18,000 to Rs48,000
• Sector F-11: from Rs18,000 to Rs42,000
• Sector G-7: from Rs16,000 to Rs41,000
• Jinnah Avenue: from Rs75,000 to Rs114,000

The prices of plots in Sector-11 and Sector I-8 have been set at Rs26,000 and Rs38,000 (per square yard).

The property prices have doubled in Islamabad's Blue Area.

Ground floor shops in the Supermarket area are priced at Rs123,000 per square yard.

In Sector F-8 the ground floor is priced at Rs58,000 and Sector F-9 is priced at Rs70,000 per square yard.