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These FAQs will guide you through the ins and outs of Pakistan’s real estate market.
A Commitment that ensures that people who own those files will be given a plot after some time
A file refers to a specific area that has not been balloted, meaning possession has not been granted, and no construction can occur. There are many housing societies in Pakistan that offer plot files.
Balloting refers to allocating plot numbers in a specific real estate project. The market offers two types of balloting.
Booking Ballot – Projects are offered on an instalment plan, and applicants book their ballots.
Plot Ballot – A random draw in which each file is allotted a plot number.
A mutation is a verification record for transferring ownership of a property from one individual to another.
The term refers to the record of rights, a document maintained to determine and verify rights for immovable properties.
Any property that is willingly transferred from one person to another, without any money transaction, is known as a gift.
Yes, a co-sharer is legally allowed to sell the property, but only their share of the property.
Yes, foreigners can own land in Pakistan. However, they must go through several legal procedures to become eligible for purchasing a property.
Pakistan’s land records are maintained by the District Administration Revenue department. The department is also responsible for deciding on the property’s boundaries for division and ownership.
Stamp duty is a government tax on the transfer of property. In most cases, the responsibility for paying the stamp duty lies upon the buyer. However, sellers can also volunteer to pay this tax.
You only require one document to own a property which is a deed that verifies the transfer of property from one person to another. The act can be allotment letters, a sale certificate, or simply a sales deed.
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