|No.||Procedure||Time to Complete||Associated Costs|
|1||Advertisement of transaction in newspapers inviting objections
A Public notice in two different newspapers having circulation of 100,000 copies, in English and in Urdu news paper, inviting objections/claims should be placed. After publication, there is a seven-day waiting time for arrival of objections, if any. Advertisement is published in local newspapers (dailies) having a large circulation.
Agency: Local Newspaper
|8 days||PKR 10,000|
|2||Hire deed writer or lawyer to draft sale purchase agreement
It is common practice in Pakistan to hire a lawyer to draft the sale purchase agreement. People who cannot afford lawyers hire a deed writer costing around PKP 1,000.
|1 day||PKR 5,000|
|3||Payment of stamp duty, capital value tax, Town tax and registration fee
The following payments must be made:
Fees are paid at the Government Treasury or National Bank of Pakistan, an autonomous bank jointly owned by Government of Pakistan and public, who issue receipt of money which is taken to the Stamp office of the Government.
Agency: Government Treasury or National Bank of Pakistan
|1 day||2.5 % of the property price (Capital value tax) +3% of property price (stamp duty) + 1% of property price (registration fee)+ 1% Town Tax|
|4||Obtaining a Non-Objection Certificate
The Deputy District Officer Revenue and the District Officer Revenue, at Town and city level respectively, issue a “No Objection Certificate” in favour of the Seller permitting the sale of the property, provided that the entire amount due and payable in respect of the property has been satisfied.
Agency: District Officer Revenue
|1 day||included in Procedure 3|
|5||Receipt of payment is taken to Stamp Office
The receipt of payment obtained in Procedure 4 is taken to the Stamp Office of the Government. The Stamp office will, upon production of receipt, issue a stamp paper of the value (money deposited) on the Sale Deed. Such typed stamp paper will be presented later before the Registrar, who registers the change of ownership.
Agency: Stamp Office of the Government
|1 day||no cost|
|6||Execution and registration of the deed before the registration authority
The conveyance deed must be executed before the registering authority. Execution of the deed is done before the Sub-Registrar of Conveyance/Assurances of the area, official responsible under the Registration Act. Registration of the deed automatically follows the execution of sale deed. A receipt is issued immediately, but the deed is delivered a few weeks later. The name of the buyer is recorded in the new deed, showing the change in ownership.
The buyer will conduct post registration Procedures, such as changing the name at the utility companies, property taxation and municipal services.
Agency: Sub-Registrar of Conveyance/Assurances