Introduction
The registration, aka registry of the property, is a crucial step. In Pakistan, different authorities are involved in the registration process. Therefore, the registration process is complicated and takes months to complete.
Anzo Marketing is your reliable investment partner and will guide you in the registration process and help you get through every step. It will also assist you in arranging the documents as per the requirements. Read further to know what is the process for property registry in Pakistan.
Registration of Immovable Property
It is important to register immovable property. It includes buildings, land, or anything attached to the Earth. Registration is important as it protects the rights of the owners. It also helps smooth ownership transfer in case of sale or inheritance. Moreover, it ensures the safety of your property from encroachers. Another major function of the registry is bringing your property into the official records, which will help the tax-paying process. Looking at the function of the property registry in Pakistan, it is evident how important it is to register your property.
Documents Requirement for Registry Process in Pakistan
The Board of Revenue is responsible for the process of registration of lands in Pakistan. In the year 1855, it was formed for registration. It also serves in the maintenance of land and property records and the preparation of maps.
A list of documents released by the Board of Revenue is required for the registration process. They are as follows:
- Original Title Deed of Seller
- Sale Deed
- NOC (No Objection Certificate)
- Power of Attorney
Difference Between Registration and Transfer of Property
We can acquire the ownership of property by two means: registration and transfer. When the property in New City Paradise or anywhere is officially recorded under the owner’s name, it is known as registration. Whenever the ownership is transferred from one person to another, it is known as the transfer of property.
There are certainly other differences in registration and transfer. For example, registration can do the recognition of any property. In contrast, registration usually does not need registration to transfer any property. Moreover, registration is done once in a lifetime, while property transfer is an ongoing process.
Additionally, for the registration of any property, the government body must be involved in it. However, in the transfer process, the involvement of government bodies is not necessary. Private bodies can also get involved in the transfer process.
Registration Processes in Different Cities in Pakistan
Different steps are involved in the registration process of properties in different major cities of Pakistan. First, let us look at the procedure for Karachi and Lahore.
Procedure for Karachi
Different steps are involved in the registration process in Karachi. They are as follows:
| Steps | Duration |
| To obtain a NOC for sale/ Sales certificate | Seven days |
| Conducting an online title search | One day |
| Creating sale/purchase agreements using the standard online templates | One day |
| Paying the stamp duty, registration fee, etc. | One day |
| To take the receipt of payment to the stamp office | One day |
| Registration and execution of deed before the sub-registrar | Three days |
Procedure for Lahore
Some standard steps are required for the procedure of registration in Lahore. They are as follows:
| Steps | Duration |
| Obtaining the Fard (Ownership Certificate) | One day |
| Creating sale/purchase agreements using the standard online templates | One day |
| Paying the stamp duty, registration fee, etc. | One day |
| Registration and execution of deed before the authority | Eight days |
Real Estate Scams in Property Registration
Registration of the property has its benefits. However, there are different scams in the registration process as well. There are various instances where people have scammed others due to forged and false documents.
Sometimes the registration is done under a false name, and the buyer thinks he is buying the property from the right person, but it is not the case.
Also read: What to Look For When Viewing a Property?
It’s advised to identify and verify the owner of the property. It is also suggested to verify the documents of the property. As a result, you would be able to avoid any scams.
Conclusion
In conclusion, the keynotes we can take from the blog are the importance of registration and the steps you need to follow. In addition, the procedures of property registry in Pakistan in different cities and the guidelines to avoid any scams in real estate are also mentioned.
