There are four rates for property valuations applicable in Pakistan, including DC rates and FBR rates. Except for 22 notified cities where FBR rates apply, the DC rate is applicable across the country. This is why DC rates need to be updated across the board.
Recently Federal Board of Revenue Chairman Shabbar Zaidi has announced that the DC valuation of property will be made equivalent to market value from July 1 onwards. He elaborated that the provincial revenue authorities will increase the DC rates to match their market value after the said date.