REAL ESTATE TERMS YOU MUST KNOW

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Description

Real estate – a term we are well aware of – is a passive income generator.

But getting straight into it might come up with some unwelcomed hurdles. It’s important to know the most commonly used real estate terms used by industry professionals, developers, real state agents, and government officials who document property transactions.

In particular, understanding real estate terms used in Pakistan can be complicated for beginners. Therefore, Etihad Marketing has summed up the ultimate real estate glossary for your ease that explains some of the most common property terms in Pakistan simply and understandably.

Common Real Estate Terms In Pakistan

Knowledge of the listed above are the terms commonly used in the Pakistani real estate market. It would benefit you while dealing with property matters in Pakistan.

OFFICIALS AND DOCUMENTS

AKS SHAJRA (Shajrah)

Aks-Shajra (a copy of shajra) is an image of a specific piece of land drafted on a drawing paper for individual property owners. Aks Shajra provides information about the land that has the property’s owner with their khasra numbers marked and boundaries specified. It is developed on the demand of property owners.
Aks Shajra is particularly needed in dealings concerned with agricultural land.

SHAJRAH

Shajra is a detailed map that is used for legal (land ownership) and administrative purpose. It includes details like Khasra number, measurements, location, and the surrounding area. This detailed map is called SHAJRAH.

FARD (Fard e Malkiat)

Fard Malkiat is also known as (proof of property ownership, Record of Rights/ Jama Bandi/Misal Haquiat/Register Haqdaran-e-Zameen) maintained for the record of the property.
This document is essential for the registration of property (registry).

Fard includes comprehensive details about the property like- exact location, size, and property type. It is issued under different conditions as per the demand of the property owner, like selling, preparing general power of attorney, or for recording purposes.

GARDAVARI

Gardavri is written proof of the land-leasing rights, issued by GARDORI to the person who owns the land on lease with the owner’s permission.

GARDAVAR

Gardavar is a person, also called Qanoon-go or Kano-go, whose job is to examine the land record.

REGISTRY

A registry is documented proof of ownership of property. The process ensures that property ownership, property possession, and other rights are legally recorded with the government. This document ensures the ownership and negates any illegal transfer.

PROCESS

JAMABANDI (Fard or Parcha)

JAMABANDI is the most crucial document of revenue record. Generally, the land records are updated – every after four years. This process is known as JAMABANDI. It includes all the necessary information about ownership, the location, land type, and land division if any.

INTEQAL

The property transfer (also called inteqal) is used to transfer from seller to buyer. Inteqal is carried out based on the registry of the property.

PARTAL

Partal is the process of updating and verifying a property’s record. Partal is overseen by a patwari. The Patwaar Khana or the revenue department maintains the transfer of records.

LAND MEASUREMENTS

Acre

An acre of any land refers to an area of 8 Kanal of area. 43560 sq. ft. It is also equivalent to 160 Marlas.

Bigha

Bigha is the measurement of land equal to 4.958677686 Kanals. Bigha comprises 99.1736 Marla.

Kanal

A Kanal is equivalent to approximately 4500 sq. ft. of land. A Kanal is comprises of 20 marlas.

Marla

The measurement of marla varies from region to region. The Marla of Punjab ranges from 225 sq. ft to 272 sq. ft of land.

Moza

Moza is an area specified for the use of work or office of a revenue collector.

Sarsahi

Sarsahi is the smallest unit of measuring land. It is equivalent to 25 square feet.

The real estate industry in Pakistan follows a very traditional approach, but now the advent of digital systemization of the process and records have streamlined the procedure of land maintenance and record.

Keep yourself updated with the new terminologies, make sure to check back if you heard about any common property terms used by agents in Pakistan.

Meanwhile, if you are new in the real estate industry, and want to trade like a pro, head over to Etihad Blog for more information on the topic. For further queries and suggestions, regarding real estate vocabulary, drop us an email at info@etihadmarketing.co.

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