Deep information for the purchase or the process of oath -affidavit files | PakLandHub.com

What to buy? Understand the process of allocated or affidavit for secure property investment

Since 2004, I have been educating property customers and dealers equally, making them informed decisions about buying and selling property. My goal is to equip the clients with confidence in the market to go into the market. I have always believed that knowledge is key to making a safe and stable investment, and I have tried my best to educate my clients through various channels like website, forums, emails and groups. However, there are still many questions, especially from newcomers to the property market in Lahore. A common question that I get is it is to buy a File allocated Or a The affidavit file.

https://www.youtube.com/watch?v=sjeqtvf87ka

In this article, I will explain both actions and help you understand the difference, so you can make a decision on buying property in Lahore.

What is the difference between allotted and affidavit?

When the property developer announces a new phase in Lahore (for example, Phase 10), they issue files for the ground at this stage. The property can be divided in different ways, and each file represents a piece of land.

1. File allocated: This file is related to one Allocated It is given to the person who initially acquired the land. After buying the land from the developer, the buyer has the option to keep the file in his name, move it to someone else, or sell it. The allocated file promises a specific land plot to the buyer, but the exact plot will not be available immediately. It may take some time to allocate the official plot to the buyer.
2. The affidavit file: An oath file represents this The first allotment Land in the development phase. It is usually released to the original buyer, and is linked to the developer’s promise. After the affidavit is released, the buyer has a more regular right over the property, and they can either sell it, move it to someone else, or complete the development process.

Both actions lead to the same consequences in terms of final land ownership, but there are some important differences on how transactions are and what rights they give.

Property Buying Process: Allotment vs Oath

In Lahore, when a new phase is launched by a developer, they declare land and either start offers. Oath files Or Allocated files. The main difference is in the ownership level to the buyer at the time of purchase.

• Allotted file: If you buy the allotted file, you are buying the land promise effectively at the announced phase. The man allocates the land to you, and you can choose whether to keep it in your name, move it, or sell it. The file transfer process usually takes two weeks to four weeks. Since this is preliminary, the buyer has some flexibility in dealing with the file and can make decisions based on his needs.
• The oath file: The affidavit file usually contains the first land allotment. This file represents more official claims of property, and the transaction process can be a bit smooth. Although the transition process takes the same time (two weeks to four weeks), buyers often find that the affidavit file provides strong legal status and more secure transactions.

Key reservations for investors

1. Price difference: The affidavit file is usually higher than the allotted file. The reason for this is that the affidavit file represents the first allotment and is less likely to be involved in taxes or legal matters. In addition, when selling the affidavit file, there is no capital gain tax in Lahore, which is a huge advantage for many investors.
2. Tax and Documents: If you are an investor using White Money (legally acquired funds) or seek a safe transaction, the affidavit file is often a preferential choice. The reason for this is that the transaction is generally documentary and registered, which provides security to the buyer. On the other hand, buyers who prefer to deal with black money can choose the allotted file, as it has less legal complications.
3. Third party payment: With an affidavit file, you may not get a sales contract in most cases. The reason for this is, in many cases, the money is ended instead of a third party directly to the seller. This can sometimes cause complications in the transition process, especially if the parties involved are not properly documentary.
4. Risks with allocated files: Some investors or developers may request cash payment, or ask the buyer to pay for third party accounts. Although this is a common practice in Lahore, it may be a threat to buyers who do not fully understand the process. Always make sure that whatever transaction you enter is documentary and legally safe.

Result: Which one should you choose?

To choose between one File allocated And a The affidavit file Depending on your investment strategy and your risk tolerance levels. If you want A Safe and documentary transactions, The affidavit file May be the best option for you. However, if you are looking for flexibility and potentially reduce the lower costs File allocated There may be a viable option, though you need to be careful about the lack of third -party payments and formal sales contracts.

Before making a decision, make sure you Teach yourself correctlyFor, for, for,. Since buying property in Lahore can be complicated. Whether you are dealing with someone File allocated Or The affidavit fileAlways confirm the transactions through legal channels and make sure your funds are safe.

The final indication: If you are not sure about this process, it is always a good idea to consult a leading real estate agent or a lawyer who can guide you in the process of buying and ensures that everything It should be handled properly.