ISLAMABAD ( WNAM REPORT): Chairman Foreign Delegation Committee of the Islamabad Estate Agents Association, Chaudhry Mazhar, has termed the Federal Board of Revenue’s (FBR) decision to withdraw the new property valuation table as a welcome step for the real estate sector and investors. He said that the recent valuation table was not in line with the ground realities of the market, which had led to severe stagnation in the buying and selling of properties.
Chaudhry Mazhar
He stated that FBR’s decision would not only address the concerns of the business community but would also help restore confidence in the real estate sector. Chaudhry Mazhar emphasized that instead of unilateral decisions, the valuation process should be carried forward through consultation with stakeholders so that transparency, market liquidity, and continuity of investment can be ensured.He further added that the property sector holds the status of a backbone in the national economy, and any unrealistic decision in this sector directly impacts other allied industries as well.
