This is a million-dollar question which is in everyone’s mind that is related to real estate business in Pakistan. Since the new government formed, real estate prices are clearly showing bearish trends in all areas constantly. A huge selling pressure is being observed in the real estate business. In this article we will try to figure out the reasons and factors.
Downfall of Prices:
Previous Finance minister Ishaaq Dar imposed extra taxes on all transfers of properties. It was the start of falling prices of real estate. Real estate business is the best choice of investors anywhere but with friendly business environment.
1st 100 days of the PTI Government:
Since the government formed, immediately after a well-designed media campaign launched against the government to prove them incapable in result Pakistan Stock Exchange crashed badly, subsequently an economic panic situation arises across the country, moreover currency devaluation impacted negatively. Do not worry; this situation is fizzled out already.
Government looks determine in FBR (Federal Board of Revenue) reforms and few measures already taken in this regard. A task force has started working on tax reforms. This is also one of the factors about current real estate market scenario.
No doubt there are most of investment part in real estate is legitimate and people’s hard-earned money but in the same time real estate is the charming option for those who carries black money earned through unfair means like kick-back, tax evasion etc. Due to a massive crack-down on corrupt elements in Pakistan is also a reason of selling pressure in the Pakistan’s real estate especially in posh areas.
Encouragement of Exports:
Government looks very much concerned about export friendly policies for the manufacturers. This is the most effective source to build the foreign reserves. If the government succeeds to achieve the set goals, revolution can be seen in real estate business in Pakistan.
Ease of doing Business:
Commerce and Finance ministry officials have started working on “Ease of doing Business” since the Prime Minister Imran Khan has mentioned repeatedly about it in different speeches. A task force is also formed and they are working to start on one window operation for new startups and investors to start the business.
At the moment, as per government statement 75000 jobs allocated to the Pakistanis since the CPEC started. In the days to come as CPEC projects will be taking place a big number of investors, businessmen and entrepreneurs are expecting to come to Pakistan. Foreigners can be a good tool to generate the economic activity. Although it is hard to find the full detail of CPEC projects but many areas are declared as industrial areas. Simply CPEC would be a great factor to boost the Real Estate business among others.
Real Estate vs. Stock Exchange:
Real estate market likely to be stock Exchange market Asad Umar Minister of Finance says. It’s not as simple as Minister said, Shares markets practices under rules & regulations but real estate sector in Pakistan is totally a gray area business. It is a time taking procedure but it’s possible as we know 1st world real estate sector deals under a set mechanism which is helpful for both seller and purchaser.
Forecast of Real Estate Business in Pakistan:
Keeping in the view of above factors we can assess the future market of real estate in Pakistan would be a prime business in Pakistan. It also depends on the quantum of government reforms achievements.
A wise Japanese economist’s famous saying is, ‘’Any Country’s economy can be gagged with real estate prices if getting increase means economy is growing’’.
All the above scenario will no doubt favor the overall progress and prosperity of real estate business in Pakistan.
To put money into real estate is the favorite market of the investors, now a days. It is considered a sensible use of money to get profit but Market is full of frauds/scams. While sale and purchase of properties, to hire a real estate agent has become a trendy need to tackle the market terminologies. A professional real estate agent knows the market values of property, he can help to find the land you are looking for, in market prices.
1-Online Form filling website:
Everything is getting computerized, in online marketing we have to deal number of frauds, you can only safe yourself from them, only if you can identify them.
Online websites of real estate where you have to submit the registration form of your personal information including your id card number, your credit/debit card number or bank account number. These are called online robbers, where many professional people trapped especially overseas Pakistani.
2-Sale of one land to more than one person:
This is very common fraud that real estate agent collect advance of one land from different parties.
3-Fake Registry Papers:
Few agents or other people collect the information of a specific property and make a fake registry of this land. On the behalf of documents many people got trapped and pay full payment to them.
4-Low cost Bungalow:
In some cases, it is observed that overseas Pakistani, who have property in Pakistan, hire a caretaker for the house, who act to be the owner of the house. He can fool you by trapping you in way that the hires an agent, who approaches you in way that a bungalow which is of 5 crore and someone purchasing it in 1 or 2 crores, because owner is going to left the country. Many people get trapped in such scenario.
In some cases, overseas choose the option of renters, and renter sale the house as owner and move somewhere else.
5-Replacement of Unmarked plot:
It is also observed that if you buy a plot in a non-developed area and pay full amount, do hurry to mark the boundaries of plot and register it. Otherwise, your land may replace to another, if someone pay heavy amount than you because market rates of property getting higher day by day.
A group who occupied the land of people, in very practical way and most of the time targeted people are overseas Pakistanis. Be aware of renters in this case, they can also occupy your land and sale it.
Fake agents can fool the both parties, buyer and seller. He may receive heavy amount of commission from both parties or he may ask you to give the advance payment of the property to him. But do not trust him and pay amount to the real owner of the land.
Precautions to save yourself from scams:
Rightdeed.com helps you by provide precautions to avoid these frauds.
If you are hiring an agent, you have to make sure that agent is experienced or not. It will help you to know that he is fake or real. If you are new in real estate market do not hire an unexperienced agent. If you do not find any information about experience of agent, he might be fake or have less experienced. If you get successful to hire an experience agent with negotiated commission. He can help you to find the land you are looking for.
Make sure land is registered and not occupied. And registry papers are original.
When you payed full payment of property, do register it and mark the boundaries of your land.
DHA Gujranwala Files 10 Marlas for sale is the hottest real estate topic these days. Most of the potential investors are interested in the DHA Gujranwala Files 10 Marlas for sale due to the reason that it is the best and most secure investment opportunity in that locality. As you know that at Rightdeed.com we always try to bring you the latest property updates as well as our optimum efforts are to make all the property related issues simpler for you.
The investors who are interested in purchasing the DHA Gujranwala Files 10 Marlas for sale must be aware of the through proper channel procedure of the allotment and file transfer along with the proper guide line for all that process. Our real estate experts at Rightdeed.cm have analyzed the whole procedure and devised this guide for File purchase and transfer. If you act upon all these points, your file will be transferred at yours name or vice versa with any sort of hindrance.
How to Start the Process?
The most important thing you should keep in mind before you properly start the procedure of DHA Gujranwala Files 10 Marlas for sale or purchase is that:
You (allot tee / transferor) desiring to transfer your plot or share will have to appear in DHA Office in Person.
Before you start the proper process of DHA Gujranwala Files 10 Marlas for sale, you will have to produce the following documents in this regard:
Application addressed to the Secretary requesting for transfer of allotment of plot.
An Affidavit on a PRs. 50/- duly attested by the Oath Commissioner
Original allotment / transfer / allocation or intimation letter
Attested Photocopies of Computerized National Identity Cards of both parties
You cannot possess any sort of Demand Certificate, site plan etc.; before transfer.
Clearance regarding TIP / Property Tax / House Tax
Redemption deed in case of mortgaged property
Bank clearance letter and original permission to mortgage will also have to be provided by the transferor
It must be noted that any of the above-mentioned documents shall not bear any sort of cutting and over-writing in the contents.
DHA Gujranwala Files 10 Marlas for sale transfer procedures
For further carrying on the transfer procedure of DHA Gujranwala Files 10 Marlas for sale you must present the all the above documents with minor changes about which you will get guidance from the DHA office or your agent. However, if you are living abroad and want to indulge in the process of DHA Gujranwala Files 10 Marlas for sale then the transfer procedure may change with the following additions:
In case the member cannot personally show himself in DHA Gujranwala Office his or her representative will have to get the specimen of general power of attorney from Transfer Desk.
After the filling, up of requisite particulars you will have to report to Pakistan Embassy / High Commission in order to attest all such submitted documents on your behalf.
After the proper completion of the previous step Pakistan Embassy / High Commission will officially submit the power of attorney to the camp office of foreign affairs respectively
After the general power of attorney is being collected, the attorney will have to visit the Registrar of local court for preceding the registration process.
After that it is up to the Registrar / Sub Registrar that he or she may submit the documents through official or personal channel to foreign affairs office for further verification purposes.
Urgent Transfer of DHA Gujranwala Files 10 Marlas for sale
It is very satisfying that the urgent transfer of DHA Gujranwala Files 10 Marlas for sale can be carried out within one day now, applying the condition that if any of the parties (seller or buyer) agrees to pay PRs 34,000.00 as urgent transfer fee. The notable point in this regard is that this rule shall not be applicable to the constructed buildings and is specific for the plots. Moreover, urgent transfer letter will be issued on next working day.
We hope that if you want to buy any sort of file, specifically the DHA Gujranwala Files 10 Marlas for sale, all the above guide lines would prove to be more than useful for you. In case you have any sort of enquiries, feel free to write in the comments section.