20 Important factors You should Verify before booking or buying a house in Karachi

Author: Awais Kayani
20 Important factors. Verify before buying a house in Karachi

In Pakistan there are procedures, there are series of forms that you have to fill and there are many checks and balances that you have to do.

As for Karachi and Sindh as well, check and balance are the most important part. Whether the prices make sense or not, is the builder trustworthy? What is the master plan of the building? Being updated is essential when you’re investing your hard-earned money in the real estate market.

So ever wondered how to buy a house in Karachi? But before buying or booking any property (Apartments, plots, houses, or shops) in Karachi and Sindh’s real estate, here are the 20 Important factors one must know.

  1. Confirm whether the open plots housing schemes’ layout plans are approved by the masterplan department, Housing Development Authority (HDA), Sindh Town Planning Authority, or by any appropriate authority.
  2. Confirm that The Project’s building plan is approved by the SBCA (Sindh Building control authority)
  3. Verify whether builder/developer has obtained NOC from SBCA for Buyers’ Publicity.
  4. Verify whether the information presented for projects such as plot number, address, and location, Builder/Developer company name, number of floors, covered area, Price of units, payment plans, and date of possession - is as per the information published on SBCA Website.

At The Time of Booking a House/Property

  1. Along with Builder/developer and SBCA, signings on the stamp paper. The signing on the stamp paper must be done according to the ordinance section 12 (4) through the SBCA model agreement Stamp paper.

The model agreement stamp paper must be verified through All Builder and Developer, ABAD’s selected representative, within 15 days.

  1. Information of your booking of the unit must be included in the agreement of SBCA, mentioned in (5). The information of booking includes all the relevant information including unit number, number of floors, covered area, Price of units, payment plans, documents, charges, date of possession, etc.
  2. Builder/developer cannot change or increase the installments or payment schedule before approving it from ABAD selected representative.

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After Booking your house/Property

  1. Payment of dues for approved units must be done as per schedule at the time of construction of the project. The payment as per schedule should be done as per the NOC, given by SBCA, to the builder/developer of the project. Any other monthly, quarterly or half-yearly installments should be avoided.
  2. Check the construction progress time and time again. Upon knowing the construction progress rate/speed is affected or delayed, or also the time frame for completing phase would not be achieved, then further payment for the project should be halted.

Upon unusual delays or complete halt of construction, the buyer should inform the design section of SBCA

  1. Payment must be made on the company name of the builder/developer through cross-check or pay the order. Avoid giving out payments to any other person or banking agent.
  2. Upon a change in the management or director(s) of builder/developer, halt any payments that are due and report such event to SBCA.

Before possession of the house in Karachi / Sindh

  1. Verify your unit before possession.
  2. The builder has approved the completion plan from SBCA and has acquired a residential certificate from SBCA as well.
  3. Verify that project has water, electricity, and gas has a regular connection.
  4. Verify that residential features are present in the project such as Parking, health care facility, elevator, backup generator, fire extinguisher, and emergency routes.

After Possession of house in Karachi / Sindh

  1. Get the sublease of your unit registered under your name from the builder and developer.
  2. All allottees and residents should form a residential society. After one year of construction, the residential society should take the responsibility of maintenance.
  3. The project maintenance should be contracted from SBCA registered maintenance company.
  4. The builder is responsible for the maintenance for one year. Any problem related to the structure must be fixed for one year, and for fixtures, the builder is responsible for 6 months from the finish of the project.
  5. For further inquiry you can contact Redbox, we can help you for free with our expert consultancy.

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Real Estate Investment has many advantages, from being a stable and great source of passive income to building your equity. There are many ways to appreciate your net worth but investing in Real Estate provides the most value. We have listed Apartments for sale.

You may contact us at Redbox, A Real Estate Company if you have any queries regarding any investment. You may read our other articles to fulfill your investment knowledge base and what’s in trend right now. You can also contact the author of this article at Awais.Business420@gmail.com if you have any queries.

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