- September 17, 2020
- Posted by: Shehreen Shaikh
- Category: Blog
Investment in Capital Smart City is indeed a lifetime opportunity. Because of the high Return on Investment (ROI), investors usually opt to resell their plots at much higher prices. However, they might face difficulties in Capital Smart City Plot Transfer Procedure.
In particular, overseas individuals massively invested in this Smart City project of Pakistan. Royal Business Solutions (RBS) has provided each of our worthy clients the best possible services to ease the buying a plot process in Capital Smart City. For now, if you are overseas or local and confused about the Plot or File Transfer Procedure, then we will explain this process in detail.
Before actually proceeding to the main step, first of all, you required some essential documents. It includes
- National Identity Card (NIC) of buyer and seller
- Membership Letter
- Paid slip of Transfer & MS fee
- Paid slip of Outstanding dues
Step 1. Requesting File Transfer
It is the first step in plot transfer. You will get “Transfer Request Performa” from the management. All of the aforementioned required documents along with Performa are need to be submitted to capital Smart City management.
Step 2. Issuance of SOD
After the formal receiving of the transfer request with essential documents, the company will provide you SOD. “SOD stands for Statement of Dues”. The SOD is a detailed sheet explaining your payment history. It will also explain if any amount is left on the seller side.
Step 3. Clearance of dues
Once you have received SOD, you are bound to clear all the remaining dues. These dues are usually your unpaid installments. After payments, the seller will submit documents along with payment receipts in order to obtain NDC.
Step 4. Issuance of NDC
NDC stands for “No Demand Certificate.” It is issued to main seller after you clear all the dues. The acquirement of NDC is necessary to carry on this process.
Step 5. Presence in front of Transfer Officer
After the issuance of all the required certificates, the buyer and seller both have to present in front of Transfer Officer on designated date and time. At this time, you need to bring following documents.
- Original NIC
- Original membership letter
Transfer procedure duration
After this presentation, your plot file will be sent to the transfer procedure. This process will take 1 month. After that, a transfer letter would be issued to a new buyer and so is the plot file.
What if the buyer is overseas?
Capital Smart City has vast investors’ lot from out of Pakistan. In order to maximize the convenience for them, Capital Smart City has provided special ease. It is named as “Power of Attorney”.
In this regard, the buyer will allot power of attorney to that individual that particular person will serve as a representative of the buyer.
What if the seller is overseas?
If the seller is overseas, then they will have to acquire a GPA. It is particularly acquired from the respective country consulate and embassy. This particular GPA is then attested from Pakistan’s foreign office.
In order to know more about Plot Transfer Procedure, Watch this video.