As an overseas pakistani, i am interested in investing in a plot or home in islamabad.
I want to purchase via cda, bahria or defence, as these investments are considered less risky.
I have a few questions, which need clarification:
1) i only have an overseas nicop card. Will this be enough to complete any purchase (plot or home)
2) can the plot or home be in joint names (i.E. My wife)
3) what other documents would i need to complete the purchase or transfer
4) how long does the purchase take, once finalised with an agent.
I look forward to hearing from you.
Yes
Yes
You will need your passport sized photographs in addition to the NICOP and ofcourse the payorders :-)
Other documents fee/tax receipts /CVT stamp duty etc. Will be prepared by your dealer, make sure you check each and every receipt etc. So that your dealer may not overcharge you for these.
- It depends upon you, if you have the full payment ready, normal transfer will usually require almost a week in DHA, though urgent transfer can be made by paying additional fee.
Please make sure whether you are a tax filer or not, transfer your money to Pakistan through legal ways and keep a record of your foreign remittance to avoid any trouble with the FBR.
Aur koshish karein k dealer koi banday ka puttar ho, warna apko teeka lag sakta hai rate mein
Hahahahahaha Fahad, well answered.
Ali, i agree with above ans.
Regards
Non possession area is risky wherever you buy even in DHA or CDA. Only go for on ground plot with ready possession.
Thank you gentlemen - some very good advice indeed.
Just a few more clarifications please......
1) Is there anything else required to prove your ID, other than the NICOP ( for example a birth certificate, or a passport). It sound like that everything is driven by the NICOP card, and nothing else required. Please would you confirm?
2) also regarding Fahad sahib's suggestion about the remittance - what is the best method to move this from the UK to Pakistan? Also - what if I just turned up with the cash?
3) are you aware or can you suggest some reputable agents working in Islamabad?
I look forward to your responses.
Thank you
Hi Sorry to ask my question in the middle. I am bit desperate as I am travelling to morrow and Estate agent is no giving me full picture. I am buying in Topcity for 6.3 million pak rs. I am non filer overseas. So what I understopopd is as below.
So for 63 lac property, apprently i have to pay 2+3+4= 9% tax (Non File Overaseas)? which is approx 567,000. I spoke to the dealer in TopCity1 and he said if the sale is complete during this week there is no tax due.
Is it true or I am going into a trap?
Please open a seperate question brother - you are confusing the readers. You might get a quicker response
@ Ali
Lol.. Theres no need of birth certificate because u r an adult holding a NICOP. Ofcourse you will need your passport for travelling :-) , but as far as purchasing a property is concerned, U DONT NEED IT.
IMO bringing cash is not a wise option at all, search for other options like UBL etc..
@ Mr. Ahsan
Ur dealer is totally lying about exemption from tax, garmi ho sardi ho andhi ho toofan ho tax tau dena parega.