Dear all,
Do you know of any safe way to buy property in pakistan from abroad? Are there any reliable services / agents who can do this for you?
I am mainly interesting in investing in small properties in the islamabad or lahore region. Your suggestions would be helpful.
@Muhammad Farhan, Sorry but I personally do not think it is wise to trust anybody whom you do not know well with making your property investments in Pakistan. Ideally you need to visit yourself to make the final deal/payment/processiong of paperwork or have a trusted family member take care of this. If you cannot do either my sincere advise is to not take the risk.
It depends on type of property or developer. Although, in any case a personal visit, face to face deal and proper documentation is highly advised. Anyways, here are possible scenarios
Type A: Open Land (Registry Inteqal) Not recommended, unless some trustful person (close family or blood relative) can buy it for you.
Type B: Normally the Housing Projects/Societies have an Official Account for Payments. Sometimes these accounts can be dedicated for overseas and sometimes they are mixed for both local and overseas client. Typical Examples, Capital Smart City have Dedicated Payment Portal to book/pay installments and on same portal details of booked plot/unit gets updated. Also, like DHA doing it through Roshan Digital Account, etc. There are a lot that follow same practices of receiving amounts in official bank accounts!
-- Get the Account Details on Official Stamped Letter Pad
-- Make Payments and Maintain Each Document of that online transfer. There shouldn't be an issues as long as money landed in right account.
Hope it helps ...
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* Make sure to be explicit about plot number and details. Try to maintain all communication via official Email.
* Not sure if Roshan Digital provides best exchange and and taxes? may be some one more inofrmed can update on that!
In terms of Housing projects, one should only go for authentic projects and societies.
DHA,BT, CSC facilitates Overseas Pakistanis through Emails, Portals and Call Centers, which is great and one can buy hassel free for overseas.
In case of CDA, all the transfer procedure in buying and selling have to be done through High Commission which is secure and well documented.
In installment options, you can directly take the plot through society without any 3rd party involvement, only go for authentic and on ground projects.
For an overseas Pakistani's I would only recommend CDA and DHA properties.
Many thanks everyone for your suggestions. I think it makes sense to do this in person once I visit Pakistan, or request my blood relative.
Yes this would be the best