Categories
Property Law

What is Capital Value Tax on Real Estate in Pakistan ?

Capital Value Tax on Real Estate Related Transactions in Pakistan

The Capital Value Tax is applicable in urban areas for residential property exceeding an area of one kanal and in case of commercial properties without any threshold of land area or size of the property.

The Capital value tax at the rate of 2 percent of recorded value has been levied vide Finance Act, 2006.

Where the value of such property is not recorded, the CVT is payable at Rs. 50 per square yard of land area.

All transfers falling under the scope of purchase, gift, exchange, surrender, power of attorney and relinquishing the rights have been subjected to the capital value tax. However, transactions between spouses, parents, grand parents, brothers and sisters through gift and inheritance have been excluded from its purview.

Submit Your Query For a Legal Advice

 
Law Firm in Pakistan dealing with Commercial and Residential Property and Litigation Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582

Categories
Property Law Real Estate Deals

How foreigners can invest in Pakistan real estate

Foreigners living in Pakistan could be discouraged to rent or buy property here in the sense that a little bit lengthy and lethargic process which can take several months to complete. The following post discusses the process in detail as well as why the government needs to relax the process in order to attract foreign investment in Pakistan real estate sector.

Following are the documents that foreigners are required to submit to the home department if they wish to rent or buy property in Pakistan.

  1. An employment letter from the company they’re currently working for, declaring the nature of their job, the duration of their employment along with the contact details of the company per se.
  2. A copy of their passport, along with the copy of a valid visa with six recent, passport size photographs.
  3. They are also required to submit a copy of the landlord/realtor’s CNIC.
  4. Additionally, the owner of the property in question also needs to submit attested copies of proof of ownership.
  5. Last but not the least, the law requires a contract to be drafted in the name of the occupant of the property. In case, a new tenant occupies the property, he’s legally required to get a new contract otherwise strict legal action would be taken against him.

Violation of the above mentioned procedure may lead to prosecution of the tenant, the landlord or both.

The whole of this process is daunting to say the least and keeps foreigners from investing in Pakistan real estate. The refusal on part of government to let foreigners freely buy and sell property in Pakistan is due to security concerns.

Contact us or For more information and articles relating to Pakistani Laws, you may visit our blog

 

Irfan Mir Halepota & Associates

Karachi Office

Office # E-26, Executive Floor,
Glass Tower,
Khayaban-e-Iqbal (Clifton Road),
Teen Talwar, Clifton,
Karachi, Sindh,
Pakistan.

Telephone No.  +92-21-35642634
Mobile Phone No. +92-321-2057582
Mobile Phone No. +92-300-8233580

Email: info@irfanlaw.com
Website: https://www.irfanlaw.com

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

Regular Website:  https://www.irfanlaw.com

 

 

Categories
Property Law

Can I Save My House From Foreclosure in Karachi Pakistan, If the Auction Date Is Only a Few Weeks Away?

Can I Save My House From Foreclosure in Karachi Pakistan, If the Auction Date Is Only a Few Weeks Away?

Foreclosure isn’t a swift process in Pakistan spcially in Karachi, and banks can take anywhere from a few months to a year or more to auction off your home. Once you receive formal notice of an auction date, however, the time you have to save your home is drawing to a close. Fortunately, foreclosure doesn’t have to be inevitable. You still have options to prevent the foreclosure even if the auction date is mere weeks away.

Filing for bankruptcy is a last resort because of the extensive damage a bankruptcy does to your credit rating. Nevertheless, a bankruptcy can prove invaluable in your quest to save your home. 

When you file your bankruptcy case, a stay prevents any creditors from pursuing you for your debts -– this includes foreclosing on your home. The court will set a payment plan that allows you to stay in your home and pay off your delinquent mortgage balance over a specific period.

Negotiate With Lender

If you haven’t had an open line of communication with the lender from the beginning, start now. A looming auction date generally indicates that its too late to negotiate a short sale or apply for a loan modification, but your lender may agree to other foreclosure alternatives.
If your lender approves a forbearance, for example, it will temporarily postpone your mortgage payments and the foreclosure auction, giving you more time to come up with the delinquent amount. Your lender may also agree to accept a deed-in-lieu of foreclosure. In a deed-in-lieu arrangement, you sign over the home’s title to the lender and walk away. Although a deed-in-lieu doesn’t allow you to keep your home, it does prevent a foreclosure that would haunt your credit history for years to come.

Go to Court

If you have reason to believe that any aspect of the foreclosure process was fraudulent, you have the right to sue your lender and ask that the judge either postpone or terminate foreclosure proceedings. If you choose this route, you must demonstrate specific reasons why the court should halt the foreclosure. For example, if the lender did not follow state-specific foreclosure procedures, or the loan terms are blatantly predatory, a judge may postpone or cancel the auction date. Even if the court merely postpones the auction date, this postponement provides you with crucial time to explore other property-saving options.

Pay the Balance

If you had the necessary cash to pay off your delinquent mortgage, you likely would have done so by now. Beneficial changes to your financial situation, however, such as a loan from a family member or an unexpected inheritance, could give you the ability to bring your delinquent mortgage current. If your lender accepts the payment, the foreclosure process stops and you can resume making your normal monthly payments. If your lender demands that you pay off the loan in full, you must pay off your mortgage in its entirety before the lender will cancel the foreclosure sale.

 

Submit Your Query For a Legal Advice

For rapid response you can also submit your Query at WhatsApp on +92 321 205 7582 For a Legal Advice
 
Law Firm in Pakistan dealing with Civil Litigation, Commercial, Intellectual Property, Real Estate and Family Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582


Categories
Property Law

Rights of Tenant under Sindh Rented Premises Ordinance

There are also rights of Tenant under the Sindh Rented Premises Ordinance.

Tenant must ensure that he makes payment of the rent either through a crossed cheque, or where payment is made through some other mode, then a receipt must be obtained from the landlord. In case the landlord unlawfully or unjustifiably attempts to evict the tenant, the tenant may file a case in the competent court of law in Karachi in addition to availing other legal remedies as advised by his counsel.

Generally Landlord pressurize the Tenant to execute tenancy agreement for 11 months only, by saying and making estate agent as witness that this is law to execute agreement for 11 months only. There is nothing mentioned in any law book that the tenancy agreement must be executed for eleven months only.

Under the Law rent of the premises is to be increased 10 per cent after every eleven months. It is also an other practice is available in Karachi which is in violation of Sindh rented premises ordinance, that the landlord pressurizes the tenant to enhance rent at 10 per cent after every eleven months.

As per Law rent is to be increased 30 percent after completion of three months, in this way landlord increase rent as per his choice after eleven months which is totally illegal and unjustified, the tenant can claim for recovery of amount which is received by landlord in violation of law.

The tenant can also apply for fixation of fair rent if the landlord is receiving rent more then market value prevailing in locality.

There are many other rights available to the tenant, which can be discussed in detailed.

Irfan Mir Halepota & Associates

Karachi Office

Office # E-26, Executive Floor,
Glass Tower,
Khayaban-e-Iqbal (Clifton Road),
Teen Talwar, Clifton,
Karachi, Sindh,
Pakistan.

Telephone No.  +92-21-35642634
Mobile Phone No. +92-321-2057582
Mobile Phone No. +92-300-8233580

Email: info@irfanlaw.com
Website: https://www.irfanlaw.com

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

Regular Website:  https://www.irfanlaw.com

 

 

Law Firm based in Karachi and Islamabad having well experienced Advocates and Lawyers in the fields of Civil Litigation and Property Law.
E-26, Executive Floor, Glass Tower, Clifton,
Karachi, Sindh
PK
Phone: +923212057582

Supreme Court of Pakistan, Islamabad. The Registry of the Supreme Court is also at Karachi.

Categories
Property Law

The Illegal dispossession Act, 2005

The Illegal dispossession Act, 2005 is an Act to cure the activities of the property grabbers
WHEREAS it is obedient to protect the lawful owners and occupiers of immovable properties from their illegal or forcible dispossession therefrom by the property grabbers;

The Illegal dispossession Act, 2005 extends to the whole of Pakistan and It shall come into force at once.

Section 3 of the act describes the Prevention of illegal possession of property, which says that no one shall enter into or upon any property to dispossess, grab, control of occupy it without having any lawful authority to do so with the intention to dispossess, grab, control or occupy the property from owner or occupier of such property.

Sub Section 2 of the acts says that whoever contravenes the provisions of the sub-section (1) shall, without prejudice to any punishment to which he may be liable under any other law for the time being in force, be punishable with imprisonment which may extend to ten years and with fine and the victim of the offence shall also be compensated in accordance with the provisions of section 544 of the Code.

The procedure of Investigation is that upon a complaint the Court may direct the officer-in-charge of a police station to investigate and complete the investigation and forward the same within fifteen days to the Court. If Court may extend the time within which such report is to be forwarded in case where good reasons are shown for not doing so within the time specified in this sub-section.

If the Court is satisfied that none of the persons are in possession immediately before the commission of the offence; the Court may attach the property until final decision of the case. In case of attachment, the methods of its management safeguard against natural decay or derioration shall be determined by the Court.

If during trail the Court is satisfied that a person is found prima facie to be not in lawful possession, the Court shall as an interim relief direct him to put the power or occupier as the case may be, in possession.

On conclusion of trail, if the Court finds that an owner or occupier of the property was illegally dispossessed or property was grabbed in contravention of section 3, the Court may, at any time of passing order under sub-section (2) of that section direct the accused or any person claiming through him for restoration of the possession of the property to the owner or , as the case may be, the occupier, if not already restored to him under section 7.

The Court may, where it is required, direct the officer-in-charge of the police station for such assistance as may be required for restoration of the possession of the property to the owner or as the case may be, the occupier.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

For more information please visit our website

Website Home page:  http://www.irfanlaw.com

Contact:          +92 (0)321 205 7582

Law Firm based in Karachi and Islamabad having well experienced Advocates and Lawyers in the fields of Civil Litigation and Property Disputes Settlement Law.
E-26, Executive Floor, Glass Tower, Clifton,
Karachi, Sindh
PK
Phone: 03212057582

Categories
Property Law

CANTONMENTS RENT RESTRICTION ACT, 1963

Cantonments Rent Restriction Act, 1963 is an Act to make provisions for the control of rent class of buildings within the limits of the cantonment areas and for the eviction of tenants there from. It is expedient to make provision for the control of rents of certain class of buildings within the limits of the cantonment areas, for the eviction of tenants therefrom.

As per definations in the Cantoment Rent Restriction Act, 1963 ‘building’ means any building or part of a building, whether residential or not, together with all fittings and fixtures therein, if any, and includes any gardens, grounds, garages and outhouses attached or appurtenant to such building or part, and vacant land, but does not include any place of religious worship;to.

 

The provisions the of the Cantonments Rent Restriction Act and any rule or order made thereunder shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force, or in any instrument or document.

Every application under the Cantonments Rent Restriction Ac shall be filed with the Controller who shall either hear it himself or assign it to an Additional Controller for hearing and disposal.

 

The Controller shall, on an application by the tenant or landlord of building, fix fair rent for such building after holding such enquiry as he may think fit. The fair rent shall be fixed after taking into consideration the factors i.e.  the rent of the same building or similar accommodation in similar circumstances prevailing in the locality at the time of, and during the period of twelve months prior to the date of, the making of the application. In some cases the rise, if any, in the cost of construction and of the repair and maintenance charges as well as changes in the existing taxes after the commencement of the tenancy; and the rental value of the building as entered in the latest assessment list of the Cantonment Board as proposed under Section 72 of the Cantonments Act, 1924 (II of 1924).
The fair rent fixed shall be payable by the tenant from the date to be fixed by the Controller which shall not be earlier than the date of filing of the application.

Every dispute between a landlord and his tenant relating to the increase of rent shall be decided by the Controller. Provided that the Controller shall in no case allow any increase beyond seven and a half per centum of the cost of the addition, improvement or alteration made in the building or, beyond the amount of the additional tax payable by the landlord, as the case may be.

No landlord shall, without just or sufficient cause cut off or withhold any of the amenities enjoyed by the tenant. A tenant in occupation of a building may, if the landlord has contravened the provisions of this section, make an application to the Controller complaining of such contravention. If the Controller, on inquiry finds that the tenant has been in enjoyment of the amenities and that they were cut off or withheld by the landlord without just or sufficient cause, he shall make an order directing the landlord to restore such amenities, or authorising the tenant to provide the same and to incur such expense thereon as the Controller may specify, and any sum so spent by the tenant shall be adjustable against the rent payable by the tenant in respect of that building.

After the commencement of the Cantonments Rent Restriction Act, no tenant, whether before or after termination of his tenancy, shall be evicted from the building in his possession or occupation in execution of a decree passed after such commencement, except in accordance with the provisions of this section. A landlord who seeks to evict his tenant shall apply to the Controller for an order in that behalf, and the Controller may, after giving the tenant a reasonable opportunity of showing cause against the application, make on order directing the tenant to put the landlord in possession, if he is satisfied that the tenant has not paid or tendered the rent to the landlord within fifteen days of the expiry of the time fixed in the agreement of tenancy for payment of rent, or in the absence of such agreement, within sixty days following the period for which the rent is due; or any other order as he deems fit as per law.

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

Regular Website:  https://www.irfanlaw.com

Supreme Court of Pakistan, Islamabad.

For rapid response you can also submit your Query at WhatsApp on +92 321 205 7582 For a Legal Advice
 
Law Firm in Pakistan dealing with Civil Litigation, Commercial, Intellectual Property, Real Estate and Family Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582


Categories
Property Law

Property Disputes Settlement in Karachi

Irfan Mir Halepota & Associates is a leading Law Firm in Karachi, Pakistan, which is well known to resolve all types of the disputes of Real Estates sale or purchase of Distress Properties in Karachi, Pakistan. We can clear and solve any kind of disputes related to your property, because the word “impossible” is not available for lawful owner of the property and person who has actual right, we believe when there is a will, there is a way.

Today in Real Estates and Properties, there are so many types of disputes like there may be disputes between family members, fake-forged and fabricated documents, rights of partition, Forceful occupation, Forceful Trespassing, Landlord and Tenant disputes, back steps from sale agreements, shortage of finance, Collaboration Dispute, Multiple sale of the same property, pending litigation, bank mortgage, private loan, private mortgage etc. creating a bad name of your valuable property in the market.

All the Real Estates with any of aforesaid dispute can be resolved by adopting proper procedure of law by taking care of in all respects for clearing all the disputes. All the disputes are taken care of by Well Experienced, Expert and Able Professionals Lawyers to resolve as per property Laws of Pakistan.

Honesty, Transparency and Secrecy of Every transaction and dealing is the basis of our success in the society.

We are skilled and professionally qualified team lawyers undertakes personal pain for their respective clients, with full attention, understanding all aspects and sensitiveness of the client’s Requirements in order to provide complete satisfaction to their Clients. We charge as per the seriousness and nature of dispute and our efforts made for resolving the same.

 

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

Regular Website:  https://www.irfanlaw.com

Law Firm based in Karachi and Islamabad having well experienced Advocates and Lawyers in the fields of Civil Litigation and Property Law.
E-26, Executive Floor, Glass Tower, Clifton,
Karachi, Sindh
PK
Phone: +923212057582

Supreme Court of Pakistan, Islamabad. The Registry of the Supreme Court is also at Karachi.

Categories
About us Litigation Property Law

Legal Notice

Irfan Mir Halepota & Associates believe that disputes can be resolved by negotiations, conferences by dedicated efforts in a cost effect way.  Hence we always endeavor to resolve disputes by initiating negotiations or by cautioning other party to settle out of court by way of Legal Notices. If no positive response is received after legal notice then matter is to be taken up in the court of Law.

We are commonly engaged by our clients to issue legal notices for recovery matters, default in installment of a financial facility, default in payment schedule, breach of terms and conditions of contracts and guarantees, violations of constitutional provisions of Pakistan and matters of libel and slander under the Law of Tort and Defamation.

Hence upon excessive demand and  wide range of our clients we are also now facilitating our clients to furnish instruction for issuance of legal notices online. This service is introduced in Pakistan for the first time by our Law Firm and we are proud to lead our Nation in the field of Law.

What we can do online for you?

  1. Draft Legal Notices.
  2. Draft Reply to Legal Notices.
  3. Draft Public Notices.

How to Engage us?

This document can be drafted and be made available for Rs. 10,000 (Pak Rupees). Including all delivery charges in Pakistan. Please note that if more than Carbon Copies to more than two recipients will be charged at Rs. 1000/- per five recipients.
You can choose to have your documents emailed to you, or sent to the recipient by first class post. We aim to prepare your documents by the end of the three working days, although in practice we normally start preparing your document within hours of receiving payment.

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

Regular Website:  https://www.irfanlaw.com

Law Firm based in Karachi and Islamabad having well experienced Advocates and Lawyers in the fields of Civil Litigation and Property Law.
E-26, Executive Floor, Glass Tower, Clifton,
Karachi, Sindh
PK
Phone: +923212057582

Supreme Court of Pakistan, Islamabad. The Registry of the Supreme Court is also at Karachi.

 

Categories
Property Law

SALE, PURCHASE AND TRANSFER OF PROPERTY REAL ESTATE IN PAKISTAN

SALE, PURCHASE AND TRANSFER OF PROPERTY/REAL ESTATE IN PAKISTAN

OUR LAW FIRM advises and assists clients in sale, purchase and leasing of commercial, agricultural and residential properties in Karachi, Paksitan. We successfully complete the whole process of verification and registration of title documents, procurement of revenue documents “Farad” and get mutation of names in the revenue record.

In developed countries people sell, purchase and transfer property through Law Firms and get avoid from fraud and legal complications. But unfortunately in Pakistan, people directly go for this business, without verification of the title deeds and legal status of the property and get trapped in frauds and legal complications.

After visiting the properties shown by Estate Agent or Property Consultants. The best and safe way to sell, purchase and transfer of property is firstly to consult with lawyer for verification and checking the legal status of the property and then to enter into full written agreement by setting out all the terms and conditions in it. This would save you from property frauds, legal complications and loss of your money.

We initiate speedy legal proceedings against the offenders of Land Grabbing, Illegal Possession of property and Transfer of property by fraudulent manner.

OUR Law Firm provides clients with the best legal services to handle business transactions and deals of all sizes, including contracts and/or agreements pertaining to buying and selling property, leasing for the lessee or lessor, sales and maintenance of real estate and farms and vacant land.

OUR Law Firm has a wide range of practice areas in relation to registration. We guide clients in accordance with the Registration Laws of the Real Estate applicable in Pakistan. In collaboration with our partners, we empower clients to obtain the rights on their ownerships.

OUR Law Firm has experienced litigators, who appear for clients before all levels of the Pakistani courts in order to fight on behalf of them, for both the plaintiff and the defendant, before all stages of arbitration panels and the various forms of the ADR as well as representing them in all attempts to attain an amicable settlement with their opponents.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Submit Your Query For a Legal Advice

For rapid response you can also submit your Query at WhatsApp on +92 321 205 7582 For a Legal Advice
 
Law Firm in Pakistan dealing with Civil Litigation, Commercial, Intellectual Property, Real Estate and Family Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582


Categories
About us Litigation Property Law Real Estate Deals

Enforcement of Foreign Judgement & Decree in Pakistan

Enforcement Foreign Judgement Decree Pakistan KarachiEnforcement of Foreign Judgement in Pakistan. The Section 44.A. describes the procedure for enforcement of Foreign Judgments in Pakistan, which is reproduced as under :-

(1) Where a certified copy of a decree of any of the superior Courts of the United Kingdom or any reciprocating territory has been filed in a District Court, the decree may be executed in [Pakistan] as if it had been passed by the District Court.

(2) Together with the certified copy of the decree shall be filed a certificate from such superior Court stating the extent, if any, to which the decree has been satisfied or adjusted and such certificate shall, for the purposes of proceedings under this section, be conclusive proof of the extent of such satisfaction or adjustment.

(3) The provisions of section 47 shall as from the filing of the certified copy of the decree apply to the proceedings of a District Court executing a decree under this section, and the District Court shall refuse execution of any such decree, if it is shown to the satisfaction of the Court that the decree falls within any of the exceptions specified in clauses (a) to (f) of section 13.

Explanation 1.-“Superior Court” with’ reference to the United Kingdom, means the High Court in England, the Court of Session in Scotland, the High Court in Northern Ireland, the Court of Chancery of the County Palatine of Lancaster and the Court of Chancery of the County Palatine of Durham.

Explanation 2.-“Reciprocating territory” means 1[the United Kingdom and such other country or territory as] the 3[Central Government) may, from time to time, by notification in the 3[official Gazette], declare [to be reciprocating territory for the purposes of this section; and “superior Courts”, with reference to any such territory, means such Courts as may be specified in the said notification.

Explanation 3.-.”Decree”, with reference to a superior Court, means any decree or judgment of such Court under which a sum of money is payable, not being a sum payable in respect of taxes or other charges of a like nature or in respect of a fine or other penalty, and

(a) With reference to superior Courts in the United Kingdom, includes judgments given and decrees made in any Court in appeals against , such decrees or judgments, but

(b) In no case includes an arbitration award, even if such award is enforceable as a decree or judgment.

Submit Your Query For a Legal Advice

 
Law Firm in Pakistan dealing with Commercial, Intellectual Property and Litigation Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582