Your role

1. Purpose
Residential, commercial, sale, Rent
2. Access
a. Public spaces like parks, schools, hospitals, businesses, Main access road
3. Context
Neighborhood, Front Road, side building heights, neighborhood

4. Bylaws?
. Environment,
5. Plot condition?
Soil condition, depth of the plot. Seismic listing, structural system,
Corner/nor corner
Plot orientation and dimension
6. Utilities
Mobile connection

Buying a Plot information
1. Choosing from suitable options
a. Mindset for economic land is a risk
b. Contact Famous developers & Govt approved societies only
c. Check the current status of the project developer from the revenue department
d. Prefer physical visit of site locations only
2. NOC & other approval
a. Investment is waiting for approval schemes is risk/gambling
b. Information about Gas, Water & Electricity approvals from LDA
3. Consider tiny technicalities
a. Avoid extra-coated brochures
b. Avoid sky-promising facilities
c. Red flag if development is not even started but just in words
d. Cross-check the following
i. Payment plan
ii. Processing fee
iii. Registration fee
iv. Development charges
v. Possession charges
e. Take the developer’s writing if these are not mentioned
4. Deadlines & other details
a. Written details about the completion of development works
b. Amenity details about your plot
c. Any investigation process on your developer
5. Information about market rates
a. Prices for the same plot may vary
b. Brochures of different societies
c. Physical visit of every site
d. Get in touch with different property dealers
e. There is always a margin of 10% to 15% in every plot rate
f. Cross the market before giving the final rate
6. Estate agent’s commission
a. Usually 1% of total property value
b. Some charge almost 2%
c. Must negotiate the agent’s commission
7. Transfer of ownership of plot
a. Buying directly from the developer would be only named not transferred
b. Both parties visit the relevant office for NDC
8. Applying for NDC – No Demand Certificate
a. NDC is proof that shows there are no dues on the seller
b. Both parties appear at the office of the relevant society
c. Allotment letter by the seller
d. Seller fills a form and attaches
i. Attested copy of allotment letter
ii. Photocopies of buyer’s CNIC
iii. Photocopies of seller’s CNIC
e. The procedure usually takes 2 days
f. Can be fast-forwarded in a day by paying a double fee
g. Relevant officer confirms there are no pending dues by the seller
h. This includes
i. Pending property tax
ii. Membership fee
iii. Utility bills
iv. Society fee
v. Development charges
vi. Possession charges
i. As soon as the property owner clears the dues, the NCD is issued
9. Buying agreement
a. Buyer’s affidavit
b. Seller’s affidavit
c. The agreement to sell the plot
10. Procedure of payment
a. No cash or check
b. Pay order only
c. Deposited in specific bank & branch
d. From here transfer of the plot starts
11. Transfer of Plot
a. Transfer application form
b. Original allotment letter
c. NDC
d. Transfer affidavit and its two attested copies
e. Affidavit by the buyer
f. The plot selling agreement
g. Membership application along with 2 passport-sized photos of buyer
h. Attested copies of buyer and seller’s CNIC
i. Attested CNIC photocopies of two witnesses
j. The original document of the statement issued by the accounting office on payment of dues
12. Payment of agent’s commission
13. Collection of allotment letter

Other considerations:-

1. Do a background study
2. Find the real value of the land
3. Find the right agent
4. Assess the land
5. Negotiate
6. Token money
7. Verify allotment and transfer letter
8. Pay using a bank pay order
9. Do not forget the Copy of the Sale Agreement
10. Pay partial token money
11. Get to know the Master Plan
12. Know the Developer