| Procedure 1. | Obtain a non-encumbrance certificate |
| Time to complete: | 2 - 5 days |
| Cost to complete: | PKR 50 |
| Comment: | The non-encumbrance certificate shall be obtained by the seller and this should be tendered to the buyer in verification of the fact that the property is free from all encumbrances. This would be issued by the Sub registrar / Tehsildar concerned. |
| Procedure 2. | Fill a Challan Form 32-A with the Treasury Office and obtain Stamped Paper |
| Time to complete: | 3 days |
| Cost to complete: | 2% of the property value |
| Comment: | All the instruments are charged with a stamp duty, mentioned in the table appended with the Stamp Act, 1899. Stamped papers of different denominations are available either from Treasury Office or from Stamp Vendors. In Sialkot stamp papers are obtained from the provincial government's Treasury. |
| Procedure 3. | Deed Writer prepares the deed on the Stamp Paper |
| Time to complete: | 1 day |
| Cost to complete: | PKR 2000 |
| Comment: | Stamp papers, once purchased, shall be taken either to a lawyer or a Certified Deed Writer who shall scribe an instrument of lease hold right together with all the necessary recitals and operative terms and conditions in the deed. This deed shall inter alia contain all the details regarding the parties, the property transacted, its value, rights, easements available etc. mentioned at length. |
| Procedure 4. | Pay Transfer of Immovable Property Tax (TIP) |
| Time to complete: | 1 day |
| Cost to complete: | PKR 250 +1% of property value |
| Comment: | Since the property is situated within the municipal limits, the concerned Town Municipal Administration (TMA) would charge 2% of the sale consideration as Transfer of Immovable Property Tax (T.I.P. Tax) which is collected by a contractor of the TMA sitting in the Registrations Circle concerned. The concerned Official goes through the deed, verifies the value/sale consideration with government notified rates of the Area and accordingly issues the receipt for payment of TIP Tax. He further affixes a seal on the Sale Deed, in acknowledgment of the Municipal/ TIP Tax. |
| Procedure 5. | Execute and register of the deed of sale at the registration office |
| Time to complete: | 10 - 15 days |
| Cost to complete: | 1% of property value |
| Comment: |
Both parties along with their witnesses will appear before the Sub-registrar for registration of the Sale Deed. Sale Deed will be accompanied by following documents: 1. Two photo copies of Sale Deed; 2. national identity cards of signatories and witnesses; 3. Documents of proof of ownership of vendor; 4. Corporate resolutions of the parties. 5. 2 photos each of vendor and vendee. Sub-registrar will scrutinize the documents and verify that the proper stamp duty is paid. Vendee will deposit the registration fee in Sub- registrar's office that will stamp the Sale Deed. Sub-registrar will verify identity of the parties and their witnesses who shall sign the Sale Deed and its copies. The parties and witnesses will also sign the register kept in Sub-registrar's office that evidences that the Sale Deed was presented for registration. The Sale Deed will be retained by the Sub-registrar's office in order to complete departmental formalities and verifications. The Sub-registrar's office, after completion of all formalities and verification of documents, endorses the Sale Deed and allots a serial number to it. The original copy will be returned to seller which shall be considered a duly registered Sale Deed. One copy of the Sale Deed shall be posted in a register kept at registration office called ""Book 1"" for record. |
| Procedure 6. | Mutate title at the Revenue Officer |
| Time to complete: | 3 days |
| Cost to complete: | PKR 20 |
| Comment: | The buyer takes the sale deed to the concerned Revenue Officer for affecting entries of mutation in his favor in the Revenue Record. The Revenue Officer, after making the due scrutiny, enters the mutation as to this transaction and as to the ownership of the buyer. The buyer obtains the copy of this sanctioning of the mutation which further ratifies and affirms his title qua the property in question. |
| Procedure 7. | Enter sale deed at the Excise & Taxation Department |
| Time to complete: | 14 - 21 days |
| Cost to complete: | no cost |
| Comment: | The vendee takes the sale deed, along with a written application to the concerned Excise & Taxation Department and gets himself entered into their records as the owner. |