Hi friends,
We are buying an apartment is Pakistan, my hubby wants to buy it by his name but some people told us that the KDA maintains his website so transfer of properety is not possible now a days so you have to buy it on power of attorney and power of attorney goes to some blood relative.
The people live abroad how can they buy a property by his name ?? What is the procedure?
Any experience plz share.
Thanks in advance.
Re: Buying Property in Pakistan ..... Need Suggestions
As far as ur hubby has Pakistani ID card (or even POC / NICOP) he can buy property in his own name. I'd suggest he goes to Pakistan for a week or so & sign the papers himself rather than giving any power of attorney.
Good luck.
Re: Buying Property in Pakistan ..... Need Suggestions
If their any possibility that you are here but you cane buy porperty in Pakistan by your own name.
Re: Buying Property in Pakistan ..... Need Suggestions
Hi friends,
We are buying an apartment is Pakistan, my hubby wants to buy it by his name but some people told us that the KDA maintains his website so transfer of properety is not possible now a days so you have to buy it on power of attorney and power of attorney goes to some blood relative.
The people live abroad how can they buy a property by his name ?? What is the procedure?
Any experience plz share. Thanks in advance.
I was in Pakistan and got to see some stuff first hand. SO BIG WARNING TO ALL INTERESTED IN REALESTATE IN PAKISTAN RIGHT NOW.
You must verify the property / project (such as apartments) first hand. Who is the company, how much history do they have? etc etc. There are whole projects where construction companies book flats and then vanish or the project is on hold for 2 years. So make sure its an established company and it is a safe project.
For old properties or developmental sites in new areas such as Gawadar, the whole thing is a "FILE" that is bought and sold. SO BE CAREFUL!!
Don't end up buying a "file".
Now as far as whose name it will be in, then you can do that by being there and getting a NICOP or CNIC made there. (New Pakistani ID).
My information is from realestate agents directly so I am not making this stuff up.
Re: Buying Property in Pakistan ..... Need Suggestions
I suggest you talk to a realtor down there. He'll expect his goods but in the end it'll pay off cause I know a guy that does it that way and now he's got plots and stuff.
Re: Buying Property in Pakistan ..... Need Suggestions
Jias u guys should go to pakistan for that..............
Re: Buying Property in Pakistan ..... Need Suggestions
Some of our relatives told us that we can buy property without going to Pakistan. Any idea about that.
Re: Buying Property in Pakistan ..... Need Suggestions
No one can stop you buying property in Pakistan, IF you are a Pakistani national.
Check with Hunters & Hunters Pakistan. They are UK based company but they do have offices in Pakistan and UAE. Mostly they are dealing with properties in Islamabad, but they did find me some in Karachi.
Re: Buying Property in Pakistan ..... Need Suggestions
Buying Property in Pakistan,
Unlike other countries where real-estate is considered rock solid investments, in Pakistan it is one of the most risky business. one can buy what ever hi wants to, but the real question is if he can really owe it, while he is not in Pakistan.
In most cases relatives do this "favor" , as they knows the best where the real owner is and when he 'll be here. they join hands with land-mafia kind of ppl and sell the property. and owner of the property is left with the deed papers and courts dates ( which goes on for min. 15 - 20 years)
So my Suggestion is if u need to buy a property to commercial purpose, goto a well known real-estate agent, check the documents ( best way is to ask for loan from bank mortaging the same doc. and bank will tell if papers are GOOD).
In your particular case, i smell a rat, who ever told u that u cannot buy property in Pakistan is simply dont know anything or just fooling you arround. even Non-Pakistani Citizens can buy land in Pakistan ( they dont want to buy or they dont buy is another story)
Re: Buying Property in Pakistan ..... Need Suggestions
"The KDA maintains their website so transfer of properety is not possible now a days and you have to buy via power of attorney"
Is this true or somebody trying to misguide us.
Re: Buying Property in Pakistan ..... Need Suggestions
What is web address for Karachi Development Authority, i tried to google it couldn't locate it!
any body any help???
Re: Buying Property in Pakistan … Need Suggestions
This might help you. Check it out.
Re: Buying Property in Pakistan … Need Suggestions
I know LDA website not KDA
Check might be helpful since property registration info if not same but may be similar.
Re: Buying Property in Pakistan ..... Need Suggestions
property in pak is a BiG headche......n as far as my knowledfe goes amantul alona covered all aspect...DONT EVER GIVE UR MONEY TO ANYONE...i wonder wat makes ur relatives say dat :D....hehehheh...its better u go there n see
sometimes paper of property are fake n sometimes there is a Qubza.. sometimes no such thing exist dat u r looking for...n sometimes u cant buy them cuz its govt property...sometimes ppl invest ur money under their name, n since u trust them dats y no legal agreements were being made...n results on case n pk have huge history of property cases dat run generation to generation...so Beware!!!!