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Guide for Property Transfer in Bahria Town
Transferring property in Bahria town is not a difficult process if you have enough knowledge of the requirements and procedures. Here is a list of things you need to know and follow if you want to complete this process smoothly. This procedure applies to all Bahria projects which include Karachi, Lahore, Islamabad, and Rawalpindi. The procedure is simple and doesn’t take long as in the case of other housing-societies.
In order to transfer the ownership of a property from one person to another, you need to know about the following documents:
Original Allotment Letter
No Demand Certificate
Buyer’s two passport-size photos
Copies of CNIC (both seller and buyer)
Bank receipt of the transfer fee
Bank receipt of any outstanding charges (if any) at the time of transfer
Demand Draft or pay-order of the balance amount
Transfer Procedure of property in Bahria town
Set of Transfer papers that are prepared by the selling party through a real estate professional.
Let’s view these elements in detail and see how you can transfer property in Bahria town with ease. Firstly, getting a good deal is not an easy thing. A good amount of research about the market prices would really help you to know the right price for your property. It is much more convenient to hire a real estate agent and get a good deal. A good agent may ask for 1-2% of the selling price but it is worth spending as they know how to sell. They would get you a better price and deserve to be paid. Once you have found and negotiated with a buyer, a written agreement is recorded and signed by both parties for the buying/selling of a property and have Commercial Plots for Rent in Islamabad
This agreement contains all the necessary information about the deal. It contains the identity of parties, their contact information, the selling price, agreed-upon terms & conditions and time frames for payment plus, the transfer of the property. It must also include the total price, “biyana” amount and the remaining payable amount that the buyer would pay within the set time period.
The owner of the property also needs to apply for NDC (No Demand Certificate) from the society’s office. You have to pay a small fee and they’ll provide you with the certificate with a good turnaround after verification of all the paid dues. NDC is usually valid for fifteen days so the owner needs to apply for NDC just before handing over the property to the buyer.
The seller prepares a set of transfer papers or documents, which takes a few days. If you seek help from a professional, it may take just a day or two to complete the transfer papers. The demand draft is prepared by the buying party.
To transfer the property, both parties should be present physically. They sign the transfer in the presence of witnesses and hand over the necessary documents to each other. For the selling and purchasing of the property, there are a few taxes as well that should be paid by both parties. More details about these taxes can be sought from the local land department.
Summarizing all the procedures, let’s see how can you ensure a successful transfer within days. You have to first, prepare the necessary documents and finalize the deal with the buying party. Once agreed, you need to visit the Bahria Town Customer care office and ask for relevant documents and templates. You have to then ask for a No Demand Certificate from the official. Once all the fees and dues are declared to be paid, you get the NDC. On the day of transfer, the buyer and seller should be present at the customer care center. The buyer can legally authorize another person as his representative through an authority letter that contains CNIC and other details of both the buyer and his representative. You would need to pay the transfer fee through the bank. Fill in the required forms and transfer of registration. Attach documents, certificates, CNIC copies, photos, etc. After completing the necessary procedures, the Bahria admin will transfer your property to the buyer.
You can also get information regarding the transfer procedure over online portals. In fact, you can also get your ideal home over the internet. You can look for Offices for Rent in Islamabad online as well and check out some amazing houses. The results will also guide you completely on what procedure you need to follow in order to get the house or property transferred to your name, especially if the property is in Bahria Town.
One of the most reliable sites in this respect is Gharbaar. Gharbaar portal eliminates the need to hire a real-estate agent and instead provides live online support to guide customers through the process.
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