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FDA introduces Executive Transfer of Properties System

Real Estate News
25 Feb 2020
FDA introduces Executive Transfer of Properties System

FDA introduces Executive Transfer of Properties System

Faisalabad: According to the news sources, the Faisalabad Development Authority (FDA) has introduced the Executive Transfer of Properties System for speedy transfer of properties located in the residential colonies and commercial markets falling within the jurisdiction of the FDA.

While addressing the attendees in a joint meeting with the MNA Faizullah Kamoka and experts of the urban unit, the FDA Director-General Suhail Khawaja informed about this initiative. The meeting was also attended by Director Estate Management Junaid Hassan Manj, Director Town Planning Mahar Ayyub, and Deputy Director Admin Yasir Ejaz Chatha, besides other officers.

The Director-General Suhail Khawaja said that under the new system, buyers and sellers were being provided the National Database and Registration Authority (NADRA) like facilities against a special fee in connection with the transfer of properties. He said that previously, it took 21 days to completely transfer the properties on the applications received through the one window counter.

In this new system, the applicants should submit NADRA verified copies of CNIC of seller and buyer including witnesses, clearance certificate of excise department, clearance certificate of town planning directorate, ownership clearance certificate, last paid bill of WASA, FBR active taxpayers list status of seller and purchaser, receipts of transfer fee, withholding taxes and stamp duty along with printed stamp papers.

He also said that the transfer of properties would take around 10 days for executive transfer instead of 30 days on the basis of power of attorney or inheritance subject to no objection was received from the general public in response to the newspaper advertisement. For this process, he said that the complete file should be submitted before the 10 AM on one window counter.

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