Practical Approaches in Property Documentation

Mr. Fahim Akhtar ( CEO of Al Ansar Associates )

I specially thanks Mr. Fahim Akhtar CEO of Al Ansar Associates who share with us his years of experience. For Mr. Fahim Akhtar i just want to say that he is encyclopedia of Property Documentation and it is our honour to have such a member like him. Adam Ali Abdullah.

In every business you must clear that all agreements,promises will be in written on agreement paper not oral. In property matters every agreement must be written and signed by both parties.

“DO ANY WORK OR AGREEMENT WITH ANYONE BUT IT MUST BE WRITTEN.SO,IN FUTURE OR AFTER THAT YOU WILL BE SECURED FROM ANY TYPE OF PROBLEM"

In property matters believing anyone is good.But not believing anyone is more good.

Things to check before the deal starts :

-Must check layout in the map/master plan.
-Approved part-plan must have officer`s signature.
-Land department only transfer the property.
-Must check record of property in the layout
-Try to avoid dealing plots having number R-25/A.If it is approved then you can deal it.
-Must check the size of the property in the layout if the size of the property e.g if you said to purchaser that its size is 120 sq.yards and later it is found that its size is 100 or 110 sq.yards then it will effect the brokerage of the agent.
-If you do not have experience then Please do not deal ST plots.
-Plots having R-25/A number is 90% fake files.

DEAL STARTED :

· Sale agreement must be made,Must check date in ready-made sale agreement.Date must be accurate.
· Don`t sign any open sale agreement and signed the agreement after reading its clauses.
· Don`t sign any agreement in receiving cheque,if you signed a document you will be bond by signing it.
· Don`t take or give cash payment.Once somebody snatched or stole the cash payment.You will be suspected as a thief or criminal.
· Do not deal with people or builders who have not having good reputation in the market.
· If you purchase or deal a property in which having any person only power and the owner was died.Must take signatures of all relative with NIC copies.Must check the photograph on the NIC.because its changed with no difficulty.
· Everything must be original in the file of the property during the agreement.
· Note at the back of the file:
· Numbers of original documents and NIC photocopy.
· Must check name on the NIC.
· Pay order will be canceled by the NIC copy.
· At the time of the agreement.No documents should be CTC(Certified Trure Copy).If it has a CTC document then 10% or 20% down value from its original market value.
· At the time of making a agreement with a woman,witness will be any elder brother,husband or anyone else elder in her home.So that he will not claim that this agreement is made by forcing her or etc.
· Purchaser takes original agreement and Seller takes photocopy or duplicate.
· If you make an agreement and you think that anything wrong will be happened.Then you should make a pay order with the exact date of your time of payment.So that the seller will not claim in the court against you.

Procedure of Transfer :

· You cannot challenge the staff of the competent authority.Nothing is possible without Bribe.
· Without giving bribe you will suffer from very hard challenges.
· If you are experienced you can calculate the amount of bribe etc.
· If you are at the final stage of sale agreement.

FILE BASIC DOCUMENTS :

· Allocation/Allotment Order.
· Possession Order.
· Acknowledgement.
· SITE Plan.
· Occupancy Challan.

· FEW THINGS FOR ALLOTMENT ORDER:-
· Allotment number should be printed for e.g KDA/1931/216 with pen.
· If the numbers at the allotment were different then it is a fake allotment order.
· Challans will be first of 10% then 40% then 25% then 25%.
· In the allotment order it is written that “Originally Alloted to Mr.etc.Sometimes it is written Alternate,Exchange,Shifting,Shiftees,CM Quota,Defence Quota,Auction.

· ALTERNATE:-
· Alternate one where KDA mistakes.

· EXCHNAGE:-
· Exchange means an owner writes a application to KDA and KDA issues him a new allotment order then it is exchanged

· SHIFTING:-
· Shifting means in reality that KDA take possession of the place and give people possession of any other place to make bridge etc.

· SHIFTEES:-
· If people are already living on land and KDA wants to regularize its called Shiftees.In it no physical possession is given a stamp has punched written that physical possession was handed over.

· CM QUOTA:-
· Alloted to people by Chief Minister of the State.
· It’s a political matter.Please try to avoid it and would not involve in it.

· DEFENCE QUOTA:-
· Alloted to army officers.KDA will not deal it till the NOC of the said property will be issued by the GHQ (General Head Quarter).

· AUCTION:-
· It’s a file purchased by someone ine the auction, it is the most cleared file without any kind of cheating.Auction plots mostly of Commercial category.

FEW THINGS WHICH HELP YOU IDENTIFY & CHECK THAT THE FILE IS FAKE OR ORIGINAL :

· The whole file is written will One Pen.
· Challan is of big amount for e.g Each challan is of 2 lacs.
· Challans and pay orders doesn`t have any number.
· You can check the paper of the file.If you touch the paper you will not find any difference in it.
· Full payment was made in the cost of challan without any pay order and challan.It is of FULL CASH.
· Handwriting must be changed.Use of smalls and capital letters.
· Must verify the file from KDA and other department.Don`t finalize before verifying.
· It is not possible that the file will be lost or stolen from the KDA record.Because any outsider will not enter the KDA record room.
· Allotment order,charges of 10 rupees per yard
· Complete the documentation.
· Govt Officer always sign with Black Fountain Pen.
· Fake files signed by Ball pens.
· KDA verifies the challan from its department Incharge Verification Cell I.V.C.
· Check validity of lease form 5 check it because it is valid for 2 months.
· Must check the validity of form in KDA before statement.
· Indemnity bond both of seller and purchaser
· KDA Bond 100 rupees and other Indemnity bond of 50 rupees.Purchaser is responsible for dues and other.

NON-UTILIZATION FEES (N.U.F) :

· Calculation for NUF:-
· 240 sq.yards plot rate @ 2100/=
· 240 x 2100=504000
· 50,4000 x 6= 30,240 per month

· NUF is for open plot.Prove of construction is for build property
· PT13 will be given first
· Then PT1 if you will not argue
· Then PT10 will be given

· Taiser town and Hawksbay dealers should take special powers and use form 0 which is used for allotment and form 1 for transfer must be filled by the seller.
· 16 photographs
· Colour copy of NIC and expense of 2000/=.Only liabilities of seller but the expense is for the purchaser.
· KDA declaration form must be filled by the seller.

AMALGIMATION :

· Means to join two plots in one.
· Authorized Person: D.D.O and Master Plan Group Officer M.P.G.O
· Residential Charges:Upto 240 sq.yards Rs.50.
· Above 240 sq.yards Rs.100

BIFIRCATION :

· Means spiliting one plot into two and it is only for plot of 800 sq.yards
· Rs.150 per sq.yards
· Commercial plot must be of 1500 sq.yards and spilit into 750 sq.yards each.
· Rs.300 per sq.yards
· Industrial Plot must be of 2000 sq.yards and spilit into 1000 sq.yards each.Rs.300 per sq.yards.

REGISTRAR OFFICE :

Residential Sale Deed :

· Stamp duty 3%
· Registeration fees 1%
· Town tax 1%
· Capital Value Tax (C.V.T)

· C.V.T applies for sale types only.
· Gift does not have any consideration that’s why it doesn’t have any Town tax but C.V.T applies.

GIFT DEED :

· Stamp duty 3%
· Registeration fees 1%
· C.V.T

RELIQUISHMENT DEED :

· For registeration advertise a public notice in the newspaper and the person who died his death certificate is necessary.Fees of this deed is 1% + 1%.

MORTGAGE DEED :

· 3% stamp duty
· 1% registeration fees
· LOAN x 3%
· Value must be calculated LOAN = 10,000
· 10,000 x 3/100=300
· For clearance of loan stamp paper of 600rs and of 80rs for registeration of redumption.

RACTIFICATION :

· Only for title document
· Stamp paper of 100rs.
· Registeration fees 40rs

· Ractification includes location
· EAST
· WEST
· NORTH
· SOUTH

RELEASE DEED :

· Stamp duty 1%
· Registeration fees 1%

SURRENDER DEED :

· Stamp duty 1%
· Registeration fees 1%

· Value divided by Share is for Co-owners.

PLEASE FEEL FREE TO ASK QUESTIONS REGARDING YOUR PROPERTY DOCUMENTATION MATTERS AND YOU CAN ALSO SHARE YOUR EXPERIENCES, VIEWS AND SUGGESTIONS.

PLEASE NOTE THAT ABOVE MENTIONED INFORMATION IS PROVIDED KEEPING IN MIND THE PROPERTY DOCUMENTATION PROCEDURES AND APPROACHES FOLLOWED AND PRACTICED IN KARACHI PAKISTAN REAL ESTATE MARKET AND THERE MAY BE SOME CHANGE IN RULES AND PROCEDURES IN OTHER PARTS OF THE WORLD.

YOUR COMMENTS ARE HIGHLY APPRECIATED.