The video discusses the differences between allocation files and affidavit files in the real estate market of Lahore, Pakistan.
Allocation Files:
- Issued when land is secured by the developer (DC)
- Buyer submits an affidavit form to specify the allocation of the file
- Transfer from DC to the buyer can take 2-4 weeks
Advantages:
- Easy to find
- Quick transfer process
Disadvantages:
- Higher price
- Limited documentation compared to affidavit files
Affidavit Files:
- First-time allotment of a file
- Transfer from seller to buyer requires a sale agreement
- Transfer fees are lower than allocation files
- More secure and detailed documentation
Advantages:
- No capital gains tax in Lahore
- Lower transfer fees
- Comprehensive documentation and legal safeguards
Disadvantages:
- Higher initial cost
- Longer transfer process
The choice between an allocation file and an affidavit file depends on individual preferences and market conditions. Allocation files are often preferred for their speed and ease, while affidavit files provide greater security and documentation.
by Azan Maqsood
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