Here we explain in detail the process of registering a list of documents for the registration you need to buy a property in Pakistan. Click here to see luxury apartments in Gulberg Lahore.
Various fears and concerns, such as missing out on the best opportunity, negotiating and trading, attestation of the documents, or very long procedures often make a person think before investing in real estate.
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Here we explain in detail the process for registering a list of documents you need to register your property or the house for sale you bought in Pakistan.
Mother act
In real estate, it is essential to have a full ownership history in matters of undisputed ownership. This document (Mother’s Deed) is considered one of the most necessary when buying or selling real estate. It is a legal document that shows complete information about real estate transactions, the number of times the real estate has been sold or bought, the number of people involved, and their details. In addition, it also contains full details of previous property owners and individuals who have been involved in the sale of properties.
Deed of sale
It is one of the most important documents in the registration process of your property. This deed is important, especially when buying a house. It gives details about the parties (buyer and seller). This document is required to confirm that you now own the property and that you are now taking full ownership. In addition, it can be used for legal purposes if necessary.
Encumbrance Certificate
This document contains evidence of legally recorded real estate transactions against any real estate, such as transfers of ownership or mortgages. This certificate is a document confirming that the home for sale you have purchased has no mortgage history and no outstanding loans attached to it.
Approved plan of the property
The anti-burglary campaign in major cities has made it mandatory to have a property card document approved by local authorities. The paper is similar to the statement that the county authorizes the map and design of the property. You can build according to the approved housing plan.
Property tax receipts
It has been suggested that you carefully review all property tax receipts. And take all necessary steps to ensure that the house you plan to buy is not responsible. And that all taxes have been paid. If the sellers of your home assure you that the full amount of property tax has been paid. But if you refuse to show a receipt, it’s time to take a closer look at the receipts. Different property taxes include Stamp Duty, Withholding Tax, CGT (Capital Gains Tax), Advance Tax, and CVT (Capital Value Tax).
Proxy
The power of attorney of the document gives a person all rights to rent or sell real estate on behalf of the real estate partner or owner of the real estate. By signing this document, you will be given full rights to do anything with the property. And no one can take legal action against you. When registering your Pakistani property, you must obtain and provide this Power of Attorney document. Otherwise, the company or previous owner who helped you locate your home cannot be held responsible for any future accidents.
Completion Certificate
The primary certificate required at the time of registering your property is the Certificate of Completion. Moreover, this certificate also serves as confirmation that the house is now ready for the residents. This document shows that the structure of the house was built according to the approved plan. In addition, it also contains information about all legal property owners.
Each city has the authority that issues the certificate of completion to the owner of the property. For the people of Lahore, it’s LDA; karachiites, it’s SBCA; for the people of Islamabad it’s CDA, and so on. Click here to see residential apartments in Lahore.
