Property business is booming in Gwadar after the operations of Gwadar Port started and massive development in the area. Everyone wants to buy a piece of land in Gwadar as the Gwadar has become 'Dubai of Pakistan' and the future economic hub of Pakistan. Barn and deserted land of Gwadar have become very precious and selling like a hot cake. CPEC is connecting each and every part of Pakistan to Gwadar with a net of highways, motorways and rail tracks. Estate advisors and property dealers are also motivating people to buy land, plot or property in Gwadar as it has a high potential of profit and turnaround. There have been some cases in the past where property buyers and investors were deceived into purchasing far away land at higher rates through false info. You have to be very careful while making a decision of buying a piece of land because sometimes developers and property dealers exaggerate and mislead the public through false advertisements. Here is a guideline that might come convenient to keep your investment safe.
Tips for Buying Property/ Plot in Gwadar
Here are some very important tips for the people who intend to buy a property in Gwadar which might save them from any unwanted situation or loss.
Picking the Best Location
Properties in Gwadar may be ranked with accordance to their distance with the significant roads, highways, landmarks and mega projects. Mouzas (villages) that lie close to the city's existing highways of strategic importance deserve purchasing. Rate of land, situated in odd locations such as on top of the hill or in those areas that are not easily accessible through roads, is much lower than the marketplace rates.
Visit the Location
Before making the payment or signing any agreement/ document, you must spare some time to visit the location personally. It is found that most of the investors/ buyers belong to other cities and provinces who are currently living far away from the Gwadar and they trust the agent/ dealer. It is advised that you should visit the location physically so you can see the location and development work at site before you purchase a piece of land there.
Get all Details
You should have access to all the pertinent details about the land. Info supplied by the seller or property firm must be crosschecked. Computerization of land records of Gwadar is also in process and will be completed very soon.
The Right Estate Advisor
Choose the right and reputable estate advisor to buy property in Gwadar or anywhere else. In this regard, make sure that the property firm you are going to hire or buying a property from, must be approved form the concerned authorities and departments. You can ask them to show you the registration certificates in this regard.
Prefer Reputable Developers
Housing schemes of reputable developers might seem costlier but believe me, they are much safer than the others. Any housing project owned by the Government departments and armed forces is considered safe. In the case of projects by cooperative societies and private developers, they must have a good reputation.
Check Documents
When you find a piece of land to buy, request its latest Fard and Khasra number. The Fard will provide you specific details about the land. Info on Khasra number will help you to find specific area of the piece of land you are going to buy. Khasra number will also be required to demark the land by a Patwari.
NOC from GDA
If you are buying a plot in a housing/ industrial/ commercial scheme or in a shopping mall, you must check it's NOC issued by Gwadar Development Authority (GDA). A list of all the NOC holders along with their current status is also given at GDA's Website (www.gda.gov.pk). You can verify any NOC issued by GDA at this website. This website is a great source of information regarding NOCs as there are some schemes whose NOC has been suspended due to any reason. Area, location, owner name, address and contact numbers of the schemes are also available on this website.
Visiting Information Centers of Gwadar Development Authority and DC Office
You can visit the Information Centers run by the Gwadar Development Authority, Deputy Commissioner (DC) Office as well as concerned Patwarkhana to validate documents. From the DC office, you can also discover either your land is upgraded on their records of Global Positioning System (GPS) or not.
By following the abovementioned guidelines, you can play safely while buying property in Gwadar.