Land is a valuable asset, and many people look towards owning a Property for the future. In Pakistan, the real estate industry is a very profiting industry, and with government efforts, it has become even more sought-after among people. For investors, it is always a question: who can own land in Pakistan?
Investment in real estate has become safer with time; however, there is no proper definition of legal Ownership of land which defines rules, regulations, and legal rights.
Pakistan's government has issued many laws that include the Land Acquisition Act of 1894, which describes land ownership. The laws help create and maintain law flow in the real estate industry and restrict the rights of land ownership from certain people.
Here Reall.Pk brings you a guide on who can own land in Pakistan that you can successfully navigate through the country's property industry. So let's get started:
What is land?
According to the land rights guides,
"Land refers to any immovable property including buildings, land and any benefits that are attached to the earth."
As per the definition, land means a space that is one definite location.
Movable property is different from the immovable asset. According to the land guide, Moveable property means "property of every description except immovable property. It includes crops, grass, fruit upon the trees, etc."
Rights of land ownership in Pakistan:
Laws related to land ownership are subjective to different laws, rules, and traditions of regions. However, few laws about property ownership are set in stone and followed throughout Pakistan.
According to Article 23 of the Pakistan constitution, it states that
"Every Citizen shall have the right to acquire, dispose and hold the property in Pakistan."
Article 172 of the constitution states,
"Any property which has no rightful owner shall if located in the province, vest in the Government of that province. And in every other case, in
the Federal Government."
Based on Article 23, it is clear that every citizen of Pakistan is entitled to own land in Pakistan without any discrimination of caste, color, or religion. However, for safe property investment, ensure that you have verified property. Properties can be online verified through the Online Property verification System.
What are Land Records?
Acquiring land/ owning land is the right of every citizen of the country, and it comes with the issue of false claims and fraud transactions. To address the issue of frauds, illegal claims, and encroachments government came up with Land Records.
Land records are the legal documents that describe the ownership of any piece of land. Land records are important documents as they serve as a source of transparency to state the rightful owner of the land.
These records are also important for the government as these are the sources of revenue generation. Land Records helps identify and collect tax from the rightful owners of the plot, house, or building.
What is State-Owned Land?
Every citizen is eligible to acquire and own land in any corner of the country. Here the question is raised; "How the state does acquires the land?" According to the laws, the state has the right to acquire land to some extent. The land can be acquired for public institutions and welfare centers for the community.
According to Article 173, it is stated that,
"Any property or land which has no rightful owner shall be vested in the government of that province, and for every other case, in the federal government."
It means that any land which has no definite owner or no one claims the ownership can be acquired by the government or automatically become state-owned land.
Furthermore, Article 24 of the constitution states that the Government of Pakistan has complete authority to take possession of any land necessary for the public interest.
Rights of Land Ownership for foreigners:
Pakistan's constitution does not offer proper laws toward foreign buyers and investors, yet they can invest in land in Pakistan in multiple ways. Foreigners have to fulfill the general law requirement to possess the land.
As stated before, the laws of land ownership are different in every province, so land ownership for foreigners is different in every province. However, the basic procedure is the same throughout the country.
The procedure is long and overwhelming, but foreigners can acquire land once the documents are verified, and legal formalities are completed. Foreigners have to send certain documents to the Department of Home Affairs for verification. The required documents are:
- Employment Letter from the organization
- The period of employment
- Copy of Visa and passport
- Computerized National Identity Card of the Realtor
- Land records of the plot/property.
The relevant government reviews the case and issues the final verdict when the documents are submitted. Once issued permission, foreigners can buy land without any restriction.
How can overseas Pakistanis own land in Pakistan?
The incumbent government has started many initiatives to promote land ownership among overseas Pakistanis. Roshan Digital Accounts and digitized property market, etc., has made an investment in the property industry easy. The current government has launched Overseas Pakistani Foundation (OPF), which is working online to promote investment in real estate by overseas Pakistanis.
Let's wrap it up!
Owning land in Pakistan is the right of every Pakistani, and the Pakistan constitution fully supports it. There are many types of lands in the country in which you can invest and create a better and safe future for you and your next generation.
So that's all for now! Keep reading Reall.Pk blog page for latest news and information. Write us at [email protected] for feedback and queries.
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This post first appeared on Pakistan First Plastic Road Inaugurated In Islamabad, please read the originial post: here
