Property business is among the top businesses that promise high lucrative returns to both buyers and sellers in Pakistan.
According to a recent survey, the real estate industry is one of the leading and growing sectors in Pakistan and therefore real estate market provides secure and safe investment opportunities throughout the year.
Furthermore, the real estate sector’s contribution to the state’s overall GDP is around 3% and is growing with new luxury real estate developments across Pakistan.
So, if you want to invest or buy a property or want to enter this business, you must know about Pakistan’s laws related to property selling and buying to fully profit from your investments and invested money.
Both organizations and individuals who are in the real estate industry must know all these laws and consequently avoid any wrong transactions.
What is Property?
According to Oxford Dictionary, the property is “a thing or things belonging to someone; possessions collectively.”
Types of property:
There are two types of property;
This category includes houses, farmhouses, apartments, plots, and more. In short, this type primarily refers to real estate.
This category includes all the properties (assets) that are mobile and can be moved from one site to another such as, automobiles, cash, and jewelry.
Property Laws in Pakistan
Here we will go through the main property laws for selling and buying property in Pakistan. You can read out each in detail by simply clicking on the given links.
There are 8 parts of the Registration Act 1908. This Act is all about the documentation of the immovable property and penalties related to the property documentation.
As the name represents, this regulation is all about the stamps and stamp papers. There are 8 chapters related to stamps in Stamp Act 1899 and below is the title of each chapter:
This property Law is about the maintenance of property records, collection, and assessment of land revenue, and all related issues related to land revenue. There are 15 chapters in Land Revenue Act 1967.
1882, TRANSFER OF PROPERTY ACT
This Law is solely related to the transfer of property in Pakistan. It is comprised of 8 chapters in the Transfer of Property Act 1882clarifying all the laws regarding the transfer of any property. If you want to invest and not get into complicated Laws and regulations and have a safe and lucrative investment, we are here to assist you throughout the process and get the best opportunity right now in the real estate market for you. Leave us a message and our expert agents will get back to you shortly to brief you regarding all the current projects in Pakistan that can promise higher capital gain, higher ROI, and a higher resale market in all of Pakistan’s major cities.