Commercial rental rates for federal offices hiked

The federal government has increased the 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 Rs80 to Rs180

The Ministry of Housing and Works issued a notification regarding the revised rental rates. According to the notification, the new rates will also apply to other major cities across Pakistan.

In Lahore, the rental rate for commercial buildings has been increased from Rs60 to Rs135 per square foot, while Karachi’s rate has gone up from Rs50 to Rs113 per square foot.

In Peshawar, the rate has been revised from Rs35 to Rs79 per square foot, and in Quetta, the rate has been raised from Rs30 to Rs68 per square foot.

For cities across the country outside these six major urban centres, the rate has been increased from Rs35 to Rs79 per square foot.

The revised rental rates will apply to cases where government departments rent commercial buildings from private landlords.

The ministries and divisions have also been given permission to increase rental rates by up to 5% depending on their specific needs.

In the case of centrally air-conditioned buildings, rental rates will increase by 25% over the set limit.