How to Get the Property Valuation Certificate in Pakistan, Step-by-Step Guide

By Xtremes Marketing | Published Apr 6 2022 2:54AM

How to get the property valuation certificate in Pakistan

Are you a landlord or a real estate business owner in Pakistan? Do you wish to invest in real estate and want to know about the valuation certificate of the property? If you find it interesting to know more about the property in Pakistan then we collected some important information for you in this blog. You would be very curious about the worth of your real estate, as you would be looking for information about, “How to get the property valuation certificate in Pakistan”. There are some of the legal and basic procedures highlighted whenever you are dealing in real estate in Pakistan. Pakistan's property valuation certificate format is very simple and unique and can only be provided by the concerned department.To get the financial stability and attain a legal position in the real estate business you would need to review your Property Documents in Pakistan by the relevant authority. Not just the Property Valuation Certificate in Pakistan covers you with a legal shield but also lets you explore more opportunities. As a real estate business owner, you would also need a property valuation certificate for a visa which means this blog holds great relevance for you!

About Valuation Certificate of Property

There are tons of reasons to know about the property valuation certificate if you are buying or selling property inside Pakistan. This blog has all the technical details which would help you answer all your question related to “How to get the property valuation certificate in Pakistan”. A property Certificate is one of the most sensitive documents in the real estate industry of Pakistan.

Which department is responsible for the issuance of the Property Valuation Certificate in Pakistan

The Federal Board of Revenue Govt. of Pakistan is the solely responsible department inside the country which deals with all types of real estate operations whether it’s taxation or other online services. When the property valuation is processed legally and more professionally than it can help assess the current target property price in an open and competitive real estate market. Understanding the importance of documents related to property in Pakistan is very important.

What is a property valuation certificate in Pakistan?

Property valuation involves the assessment of real estate on several factors including the property location, design, structure history, soil testing, positioning, etc. A professional sales agent or surveyor would collect all your relevant information and assess them before providing you with a legal property valuation certificate. You can review the received Property valuation certificate format Pakistan for your property and check the different factors highlighted in it. The documents are processed through different legal parameters and standards leading to a finalized value for the real estate inside Pakistan. You should also consult with a sales expert or consultant to get a property certificate in Pakistan.

Property Valuation Certificate Format Pakistan

A property Valuation certificate has a unique format and design. Experts in property valuation certificates know well about the essential data required for compiling a property valuation certificate in Pakistan. Following are some essential elements included in Pakistan's Property valuation certificate format.

Your Personal information:

Name of the Owner and related personals
The Applicant’s Name
The Copy of CNIC or Passport and mentioned Details
The Applicant's Valid Address

The Property Information:

Authentic Location of the Property
The Existing age of the real estate
The existing conditions of the real estate or property
The existing Quality conditions of the Construction of the property
Details about the orientation/locality or, more simply, what's on around the property
Accessibility to the property.

Details about the Valuations Analysis:

The total size or covered area of the real estate or building
Details about the Construction Cost of the house, shop, commercial area, or other building, etc.
The finalized Competitive Market Value of the property
Actual details about the physical existence or conditions of the constructed property or real estate

Importance of Property Valuation Certificate for Visa

One of the critical questions is what the "Importance of a Property Valuation Certificate is for Visa?" Why do you even need the Property Valuation Certificate (PVC) for any property? We have a simple answer to this complicated and confusing query, "Property Valuation Certificate (PVC) expresses or shows the financial capabilities or position in the home country of the person applying for any opportunity or visa." Property Valuation Certificate empowers a single person or group of people (i.e., families) or sponsors organization whenever it's a case of immigrating to any foreign country. In some cases, students who are going for foreign studies/education also must have a Property Valuation Certificate (PVC).

Why do you need a valuation certificate to go abroad?

Any country offering you a visa or opportunity for immigration would require knowing about your financial capabilities.
The Property Valuation Certificate shows or expresses your financial strength, which is a good way to offer you more opportunities in business.
Without financial capability, you can't initiate or process immigration to other countries.

How to Get the Property Valuation Certificate (PVC) in Pakistan

Authorized and professional property evaluators can only issue the property valuation certificate. Such property valuation companies have the following characteristics:

Evaluation Consultants are registered and licensed under the following institutions given below

PBA (Pakistan Banks Association)
PEC (Pakistan Engineering Council)
NBFI & Modaraba Association of Pakistan

Critical Team of Experts with Agency

They have a team or a certain number of licensed engineers and property surveyor specialists.
Government institutions approve these valuation consultants to offer valid Property Valuation Certificates (PVC) in Pakistan.

Steps to follow for receiving the Valuation Certificate

Following are some essential and valid steps to get the property Valuation Certificate in Pakistan.

Step 1

The applicant must submit the requested copy of all the documents along with the processing fee to the property valuation agency.
Before payment, consult an expert evaluator agency about the different factors or requests.
Once your application is approved and finalized, the evaluators will start working on the highlighted real estate or building valuations.

Step 2

The property valuation agency will send a team of professionals to the site for the requested real estate valuation or any building.
The surveying team will have some pictures and details of your property for valuation.

Step 3

After a brief evaluation and analysis of the real estate or property, the surveying team and, in most cases, the property evaluation agency will present you with a final report.
The final Report will mention the total worth of your property, real estate, or building.
The value of the property, real estate, or any building on the Report will be expressed with desired currencies at your convenience.

What are the Documents Required for Property Valuation Certificate (PVC)

Following is the list of documents required for the Property Valuation Certificate (PVC)/Report
The property's title of ownership and related details, such as the Allotment Letter and Transfer Letter
You would also need to provide the property valuation certificate with the details such as Fard/Inteqal/Registry.
In evaluating a building, commercial space, or house, you must also provide the surveyor agency with the construction drawing or map.
The Copy of a valid CNIC

How to find out the property valuation in Pakistan

1. Go to - https://fbr.gov.pk/valuation-of-immovable-properties/51147/131220.

2. Select the - Valuation of Immovable Properties From the side menu.

3. You would see the “Rates of Valuation of Immovable Properties in the Following Cities Are”.

4. Select from the region/city/district where the property is located.

5. You would then see the following: “Revision of Value of Immovable Properties of Peshawar”.

6. Download the PDF file or property documents in Pakistan which has the details about the Valuation of Different properties both residential and commercial.

How to get the property valuation certificate in Pakistan fbr

Documents required for acquiring the property valuation certificate in Pakistan

You should not be giving away any unique or legit documents related to your property as they are way sensitive. Always provide a copy of documents that accompany the consultant whenever the processing property evaluation is in order.

1. Copy of Property Owner's CNIC.

2. Title Ownership (Allotment / Transfer Letter).

3. In the case of Land - the Registry / Fard / Inteqal details.

Conclusion

To get the property valuation certificate in Pakistan you would be required to contact a real estate consultant or expert surveyor which would help you assess your property. The certification however would be provided to you by the real estate consultant after processing the legal procedures highlighted above. Xtremes Marketing has some of the best sales agents in Peshawar who can help you to get a property certificate in Pakistanproperty valuation certificate is a significant part of your business's growth and ensuring you get the ideal spot in. A valuation certificate of the property has a significant part in the growth of your business and making sure you get the ideal spot inside the competitive marketplace.

FAQs

Question: What is a property valuation report?

Answer: An official transcript received by the property owner about the property or house condition and its total value or worth in the competitive real estate market. A property valuation report is helpful to both buyers and sellers in the real estate of Pakistan.

Question: Who can do the valuation of the property?

Answer: You must consult a licensed lawyer or any other professional sales agent who can guide you through the process. While the property valuation certificate is issued by the Excise and Taxation Department of the government, learn more about it on the following links:

For Punjab: https://excise.punjab.gov.pk/
For K-P: https://www.kpexcise.gov.pk/app/
For Islamabad: http://www.islamabadexcise.gov.pk/
For Sindh: https://excise.gos.pk/
For Balochistan: https://pabalochistan.gov.pk/

Question: How long does a valuation report take?

Answer: The property report or certificate can be issued within 5 to 10 days.

Question: What should a property valuation report contain?

Answer: A property valuation certificate or report should contain the following details:

• Size building

• Construction materials used in the construction of the building

• Height of the building rooms

• Location of building

• Land itself and the landscape of the building

Question: Can I get a free valuation on my house?

Answer: You can get the property valuation certificate from the Excise and Taxation Certificate.

But when it comes to the consultation services provided by the licensed lawyer, surveyor, or sales executive, you would need to pay for that.

Question: Who is a valuation surveyor?

Answer: A professional certified and licensed professional to conduct the valuation of a residential, commercial, or industrial property. The valuation surveyor can offer you the best advice regarding the property's investment, development, and management. Valuation surveyors may be called commercial and residential surveyors.

Question: How much time does it take to get a property certificate in Pakistan?

Answer: After the submission of all your relevant documents related to your businesses, the authorities can offer you the property certificate in Pakistan in 5 to 10 working days.

Question: How to get property valuation certificate for canada visa?

Answer: A property valuation certificate will make it even easier for you to process a student visa/f1 visa/Business Visa for Canada or the USA (The United States of America). For further details, you can also visit the Canadian High Commission in the region, which can guide you well about the process.

Question: What is the importance of a property valuation certificate?

Answer: A property valuation certificate is crucial for understanding the true worth of a property in the real estate market. It provides legal documentation of the property's value, which is essential for various purposes such as buying, selling, taxation, visa applications, and financial planning.

Question: How is property valuation conducted in Pakistan?

Answer: Property valuation in Pakistan involves a thorough assessment of various factors including location, construction quality, size, amenities, and market trends. Professional evaluators or surveyors gather relevant information and analyze it to determine the property's value accurately.

Question: Can I challenge the valuation provided in the certificate?

Answer: Yes, if you disagree with the valuation provided in the certificate, you have the right to challenge it. You can request a reassessment by presenting additional evidence or hiring an independent evaluator to review the property.

Question: Is property valuation mandatory for all real estate transactions in Pakistan?

Answer: While property valuation is not always mandatory for every transaction, it is highly recommended to ensure fair pricing and legal compliance. Certain transactions, such as mortgage approvals, tax assessments, and visa applications, often require a property valuation certificate.

Question: What factors are considered during property valuation?

Answer: Property valuation takes into account various factors including location, size, condition, age, amenities, infrastructure, market demand, and comparable sales data. These factors help determine the property's intrinsic value and market worth.

Question: Can I use a property valuation certificate for visa applications to other countries?

Answer: Yes, a property valuation certificate can be used as supporting documentation for visa applications to other countries. It demonstrates your financial stability and assets, which may increase your chances of visa approval, especially for investor or business visas.

Question: How often should I update my property valuation certificate?

Answer: It is advisable to update your property valuation certificate periodically, especially if there have been significant changes in the property market, property condition, or legal regulations. Updating the certificate ensures that it accurately reflects the current value of your property.

Question: What is the role of licensed evaluators in the property valuation process?

Answer: Licensed evaluators play a crucial role in the property valuation process by conducting impartial assessments based on industry standards and legal guidelines. They ensure that the valuation process is transparent, accurate, and compliant with regulatory requirements.

Question: Are online property valuation tools reliable in Pakistan?

Answer: While online property valuation tools can provide rough estimates, they may not always accurately reflect the true value of a property in the Pakistani market. For precise valuation, it is recommended to consult licensed evaluators who have in-depth knowledge of local market dynamics and regulations.

Question: Can I use a property valuation certificate as collateral for loans or mortgages?

Answer: Yes, a property valuation certificate can serve as valuable collateral for securing loans or mortgages from banks or financial institutions. It provides assurance to lenders regarding the property's value and helps expedite the loan approval process.

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How to get the property valuation certificate in Pakistan