Post 6/30: What are plot files, and their value in comparison to possession plots?

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I thought of learning about different aspects of Pakistan, as I want to do something for it. Therefore, I started with some of the well-known indices or reports that would help me in gaining more information about Strength, Weakness, Opportunity, Threat (SWOT). These were 12 posts. You can search my posts related to Pakistan by typing: #UsmanZafarParacha_Pakistan

Now, I have been learning about real estate business in Pakistan. I have started from Youtube videos and hopefully during my learning Journey, I will get some more useful resources to move ahead in this learning and perhaps entering into the real estate business.

I have seen a video, titled, “What Is Plot File? | Plot File Kya Hoti Hai? | Team Makaanshop” on the channel “Makaanshop”

The host of the video tells that plot files are files for plots, which may not actually exist physically. These files are presented by dealers to buyers, so that buyers may get assured that they will eventually get a physical land. Plot files are usually of lower value as compared to actual plot value. After paying for plot files, location of the plot is told when dealers start giving physical plots and also the possession of the plot is allotted to buyers. So, in this way, plot files are different from plot possessions. Again, plot files are only in documents, without actual location, without plot number (street number), and in the whole society, a buyer does not know where his actual plot would or would not lie.

Plot files are usually issued by dealers in a society. These files are verified by serial number that can be found through websites of dealers. Usually, serial number is that same as that of the currency note (rupee) attached to the file. If the number of the currency note and file are same, the file can be considered original.

Sometimes some issues may arise in the case of selling plot files. For instance, a land may consist of 1000 Kanals, but dealers may have already sold files for 1500 Kanals for the same land. In this case, it is important to deal with dealers with authentic proof of dealership and with No Objection Certificates (NOCs). However, investment in plot files is not considered a safe investment as compared to plot possession.

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Source:

Makaanshop - https://www.youtube.com/watch?v=W8A-y7fQWTE