Registry of property in Pakistan can be a complicated process that usually takes several months to complete, and requires visits to several of the concerned authorities.
Graana.com, Pakistan’s smartest property portal, provides a detailed overview of the property registration process in Pakistan, along with the various steps involved, as well as a list of the required documents.
Why Is the Registration of Immovable Property Important in Pakistan?
The registration of an immovable property helps protect the rights of the owner and it is a crucial part of property rights in Pakistan. Secondly, it ensures the smooth transfer of property ownership in the event of a sale or inheritance. Thirdly, it helps protect the property from potential encroachers.
Lastly, it serves as an official record of the property that you can use for tax purposes. Thus, the registration of an immovable asset is an important part of Pakistan’s legal and property system.
Documents Required for Property Registration in Pakistan
In Pakistan, properties are registered through the Board of Revenue. It was established in 1855 for the maintenance of land records, preparation of cadastral maps, and registration of properties.
The Board of Revenue has released a list of documents that you will require for the registry of property in Pakistan, which is as follows:
- The original title deed of the seller
- Sale deed
- No Objection Certificate (NOC)
- Power of attorney
Difference Between Registration and Transfer of Property
There are two main ways to acquire ownership of a property: registration and transfer. Registration is the process of officially recording the ownership of property in the name of the owner. Transfer, on the other hand, is the process of transferring ownership of property from one person to another.
There are several key differences between the two. Firstly, you will generally require registration for property ownership to be officially recognized, while transfer does not usually require registration.
Additionally, registration is typically a one-time event, while transfer can be ongoing. Moreover, registration is typically done by a government body, while transfer can be done by either a government body or by private individuals.
Procedure for Karachi
Following are six steps that you need to follow to register your property in Karachi:
|Obtaining a sales certificate/NOC for sale||7|
|Conduct online title search||1|
|Create sale/purchase agreement using standard online templates||1|
|Payment of stamp duty, registration, fee, etc.||1|
|Receipt of payment is taken to stamp office||1|
|Execution and registration of the deed before the sub-registrar||3|
Procedure for Lahore
Listed below are the standardised steps that you need to take to register your property in Lahore:
|Obtain the ‘Fard’ (ownership and non-encumbrance certificate)||1|
|Create a sale/purchase agreement using standardised online templates||1|
|Payment of the stamp duty, capital value tax, town tax, and registration fee||1|
|Execution and registration of a deed before the registration authority||8|
Real Estate Scams in Property Registration
The registration of the property is an essential part of any real estate transaction. This process ensures that the records are up to date and accurate.
However, there have been cases of real estate scams in which property registration has been used to defraud buyers. For instance, registration is usually done under a false name or with forged documents. As a result, the buyer thinks they are purchasing the property from the rightful owner, when in fact, they are not.
If you are planning to buy a property, it is important to be aware of these scams and to take steps to protect yourself. For example, you should always verify the identity of the seller before the registry of property in Pakistan. You should also check that the registration is being done under the correct name and with verified documents.
How to Invest Right?
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