Investment Guide for Overseas Pakistanis in Real Estate

This article will share a complete investment guide for overseas Pakistanis in real estate.

Pakistan’s real estate sector is the top growing industry with a fruitful outcome for investment. Like the other segments of the society, overseas Pakistanis, who are the driving force behind sending billions of dollars in remittances to Pakistan annually, are always keen to invest in Pakistan, especially in the real estate sector. However, they can’t step forward to make their dreams a reality due to their lack of knowledge. If someone tries to make a fortune change, he falls prey to some real estate agents’ dubious and deceptive lobbies. Therefore, the result is that his investment sinks, and he gets bankrupt.

In your case, if you are an overseas Pakistani and want to invest in Pakistan’s real estate sector, we are here to give you an investment guide to invest in real estate and make your future secure.

Several things need to be considered before investment. However, as we give a complete investment guide for overseas Pakistanis in real estate, you need to read this article with your eyes open.

An investment guideline for overseas Pakistanis in real estate

Following is the explicit and clear guideline for overseas Pakistanis to invest in real estate.

Find your niche

The first thing you need to consider before stepping into the hot water of the real estate is to ask yourself a straightforward question, “Where do you want to buy the property; in a housing society or someone’s property.” When you think about a property, you need to move toward the other steps.

A complete investment guide for overseas Pakistanis in housing societies

In housing societies, there are several things you need to consider before embarking on investment. For that purpose, read the following.

The legal status of the housing society

it would help if you found out the legal status of the housing society. Suppose a housing society falls under a municipal authority like Lahore Development Authority (LDA), Rawalpindi Development Authority (RDA), Capital Development Authority (CDA), Peshawar Development Authority (PDA), and Karachi Development Authority (KDA). In that case, you need to visit the office of the concerned development authority and check the legal status. You can also make sure of the legal status of a housing society by visiting merely the website of CDA, RDA, LDA, etc.

Development status of the society

Remember, being an overseas Pakistanis, you are not aware of the ground realities of a housing society. Therefore, don’t trust the rhetoric about a place you have not checked yet. The best advice or help you can seek from is a friend in Pakistan. It would help if you asked him to provide the ground reality of a housing society. Suppose the development work is in total pledge; better to invest. In contrast, if the housing society has no development work, better to avoid it.

Park View City and Capital Smart City have a more significant setup for overseas Pakistanis in the shape of Overseas Block.

Track record of the housing society

If society has started the balloting of the plots, you need to invest in it. If there are still no indications of the balloting or giving possession of the plots, you need to ignore it and seek a better place for investment.

Read more about Capital Smart City and Lahore Smart City.

Papers required for overseas Pakistanis to invest in real estate

Following are the papers required for overseas Pakistanis to invest in real estate and earn a good profit.

• A copy of your passport (valid passport, not an expired one)
• A CNIC copy (not an expired one)
• Six passport sizes photos (subjected to the demand and requirements of the concerned housing society).
• Fresh photocopy of Pakistan’s departure stamp.
• A photocopy of a foreign country’s entrance stamp.
• Next of kin name

Note: all these documents need to be verified by the concerned authorities.

Investment guide for overseas Pakistanis in property

The terms and conditions for buying a property from an individual are slightly different. For that purpose, you need to consider the following things.

Hire a legal service consultant

As you are out of the country and you are not in a position to visit Pakistan to buy someone’s property. Therefore, the best possible thing you need to do is hire a consultant who will review the following things to ensure no fraudulent or scams on the property.

• The property you want to buy has its papers, and there is no other claimer of the property. The property belongs to one person, and that person is the one you are making a deal with.
• The property seller has possession of the property both on paper and on the ground.
• The property is clear, and no dues are left on the owner’s behalf.
• The property seller must hand over all the legal and ownership documents of the property to you or your agent.