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, “Difference Between Registry
and Inteqal in Pakistan |Registry vs Mutation |رجسٹری
اور انتقال میں فرق” on the channel “Legal Opinion Law
Chambers”
The author says that when you purchase a property and you
transfer that to your name, it refers to registry. However, it is not always necessary
that you purchase a property, as sometimes, someone (such as parents) may give
you their property as a gift. This gift is referred to as gift deed (not sale
deed). There is also a surrendered deed, in which you pass your property to
someone. This is also a registered document.
When you purchase a property and it transfers to your name,
it has to be registered in the registrar office. It is referred to as registry.
It is a valid document, in which there is a stamp, and you pay duties, such as
FBR duty. After all these actions, the property transfers to your name. So, you
become the owner of that property.
The other thing is that of “inteqal” (mutation) for which
there is record in the revenue department. Usually, inteqal is considered in
the context of tax collection. So, initially some person was the owner of a
property and now it has been transferred to your name. Initially, they were
paying taxes, and now you will have to pay taxes. This process is usually under
the authority of “patwari”. “Inteqal” can take place only after registry.
Nevertheless, ownership is considered on registered sale deeds, as per the
rulings of court, and “inteqal” is only a revenue collection document.
Follow my Hashtag #behtareenkitalaash on Youtube: https://www.youtube.com/hashtag/behtareenkitalaash
Sources:
Legal Opinion Law Chambers - https://www.youtube.com/watch?v=QxtqqWeBj1k
