The federal government has increased rental rates for commercial buildings leased by federal institutions.
Under the new policy, the per square foot rate for commercial buildings in Islamabad and Rawalpindi has been raised from Rs 80 to Rs 180.
The Ministry of Housing and Works issued a notification regarding the revised rental rates. According to the notification, the new rates will also be applicable to other major cities of Pakistan.
In Lahore, the rental rate of commercial buildings has increased from Rs 60 to Rs 135 per square foot, while Karachi’s rate has increased from Rs 50 to Rs 113 per square foot.
In Peshawar, the rate has been revised from Rs 35 to Rs 79 per sq ft, and in Quetta, the rate has been raised from Rs 30 to Rs 68 per sq ft.
For cities across the country outside these six major urban centres, the rate has been increased from Rs 35 to Rs 79 per square foot.
The revised rental rates will apply to cases where government departments rent commercial buildings from private owners.
Ministries and divisions have also been given permission to increase rental rates by up to 5% based on their specific needs.
In the case of buildings with central air conditioning, rental rates will increase by 25% above the established limit.
