Things to Think About Before Purchasing the Property

Purchasing property in Pakistan in 2022 is not an easy task if you are not aware of the basic knowledge of the real estate market. There are a number of things to keep in mind while making a purchase in this industry. No doubt the investment in this industry is a lucrative investment and you could make a huge profit by investing your savings and capital. 

Housing societies like New Metro City Gujar Khan and Capital Smart City Islamabad of course safe investment ventures in the real estate sector in Pakistan. But still, the end-users or business communities who are willing to invest their money in real estate projects need proper guidance and assistance from reputable firms like Makaan Solutions.

That is why we come up with the most important subject and information that investors should know before their step toward real estate investment. The information we are going to share with you should be kept in mind while buying a property in Pakistan.

Consider Location

The first thing you should know before purchasing a property in Pakistan is location. The location of the property should be accessible from different routes and easy to reach. It is crucial for an investor to check the location of the plot or house, for example, if you are going to purchase a plot in CSC Islamabad. 

The location of this society is accessible from different routes and near to M-2 Motorway. Most importantly the society is near to Islamabad International Airport. 

How can this help an investor? It is helping the investors because the overseas will be able to reach society from the airport within a few minutes, similarly, the local investors from different regions in the country will be able to reach society through the M-2 Motorway interchange easily.

No Objection Certificate

The second most important thing to know about before purchasing a property in the Pakistan Real Estate market is the No Objection Certificate. Because the NOC-Approval is the guarantee of your investment that you wouldn’t face any loss and your investment is safe. 

Only invest in those properties and plots of the society that are approved by the relevant development authorities. Land Development Authorities like Capital Development Authority in Islamabad, Rawalpindi Development Authority in Rawalpindi, Lahore Development Authority in Lahore, and Tehsil Municipal Administration in different big cities in Pakistan issue the approval and NOC to different housing societies and Properties.

Owner and Developers

If you are going to invest in a society then think about the owner and developers of the society. The reputable and well-known developers of the real estate market will never fail you in your investment. Your investment will be in a safe project and you will be able to make a good profit if you buy a plot in that society for resale purposes.

For buying a property from an individual there are a lot of things you should keep in mind, you will have to do a market search to know the current prices, the importance of location, and the property holder’s documents and legal status.

In the real estate industry in Pakistan, when an individual wants to buy a property from a seller the following things should be considered:

• Check Market Price
• Check Documents
• Pay Bayana
• Ink an Agreement
• Use Pay orders
• Demand a copy of the sale agreement

The above things should be checked by the buyer this will take a bit of time to search and make the purchasing process legal. But in the end, the buyer will have their own property in their hands that will actually belong to him/her.

Contact the real estate firm or agent

The real estate firm or agent are playing an important role in the real estate market, they lead the buyer and seller to go through a legal process. If an investor does not have any time for all this, he could simply hire an agent. The real estate agent has knowledge of the market prices, know the importance of location, and is responsible for the whole process.

Similarly, the Real Estate firm is helping thousands of investors, guiding them in their investments. The firms not only help the end-users in purchasing a property or plot but also assist those who are willing to invest for the purpose of business and financial growth.

Conclusion

Before purchasing a property in Pakistan in 2022 keep the factors we have discussed in the article above. Your process of buying a plot in a society or purchasing a property from an individual will be simpler if you contact a real estate agent. The agent will look after all the legal processes for you. 

If you are still having problems or want to invest in top housing societies in Pakistan then contact the top real estate firm in Pakistan Makaan Solutions.