TYPES OF NOCS ONE MUST CHECK BEFORE DEALING IN PROPERTY

Property dealing can be tricky as people can trick you into scams. And the most common type of fraud that prevails in the Pakistan Real Estate market is the one related to NOCs. Some deceitful builders do this regularly to bring shame to the neighborhood. They deceive individuals by claiming to have NOCs when they do not have all of the necessary NOCs.

The No Object Certificate (NOC) is a certification issued by the authorities that says that they can perform and continue to work following all administrative and legislative standards. NOCs are used to file government documents for banking, insurance, and pensions, as well as employment contracts, visas, and immigration.

Why do we need NOCs and what for?

A NOC is a document that contains the fundamental information about the parties involved and is addressed to whoever it may concern. In addition, NOC is necessary for rental agreements, admissions, traffic offenses, and investigations, among other things. The following blog discusses the seven types of NOCs that should be checked before dealing in real estate for whatever reason:

By reading this blog, you will receive additional content. This blog has mentioned the only society on M-9 that has all 7 NOCs and has legally and formally begun functioning for investment and purchase reasons.

NOCs required for Allotment:

The NOC you receive when you buy or are granted a property is known as an allotment NOC. It doesn't matter if you were given, bought, or received a property; there must be a NOC included with the delivery of the property so that you may legally claim it as yours. This NOC is the most important need since it acts as confirmation that the property is lawfully yours. Obtaining a no-objection certificate from various agencies and government departments is also necessary as proof that the property is legally yours and the authority from whom you acquire your NOCs.

NOCs for Development:

This is the NOC that you need for development purposes. If you want to do the construction or anything related to development. Applicants must acquire a NOC for building construction from the relevant government authorities before constructing an apartment, a bungalow, or any other structure. The NOC is a legally binding document that must be obtained if the property in question is to avoid legal complications.

NOCs required for Electricity:

These are the NOCs you'll need if you wish to add an electrical connection. If there is a problem with power from any source, you will be requested for this NOC. Normally, area inhabitants do not have these NOCs, but the head of the area does with each new connection installation.

NOCs required for Gas:

As the name explains these are the NOCs that explains that there is a Gas system in working and it is the insurance that you must check before applying for any gated or a society where people before you are not living.

NOCs required from the Builders Authority:

If you are a builder or developer, you must obtain this NOC from the building organizations before you begin construction. If you are operating in the Karachi region, you must obtain this approval in the form of NOCs from ABAD (All Builder and Developers Associations)

NOCs required from Water Resource:

This NOC certifies that the region has adequate water supply connections. Even the most affluent areas do not always have water connections, and there are still some areas selling the property without the appropriate and required water connections.

One common mistake that people make is failing to check all of the NOCs for a specific location. It is not necessary to obtain all of the NOCs. However, if you are purchasing a home or relocating, you must ensure that the builder or realtor has all of the necessary NOCs. This will help you avoid making a costly mistake. As NOC has a particular value to them, it is considered an element from a resale standpoint. Thus, one must check them.

Residential or commercial properties in Karachi have all of the necessary NOCs. However, as the city of Karachi grows and a new metropolis is emerging along the M-9 Motorway, new gated communities are springing up. There is only one society that has all of the NOCs and is suitable for investment, not to mention that the investment and property opportunities in that community are limitless. And the society is not other than Bin Ahsan Green City.

BIN AHSAN GREEN CITY, A SOCIETY WITH COMPLETE NOCs AND CERTIFICATIONS:

Bin Ahsan Green City is another growing gated community on the Karachi-Hyderabad Motorway that has been established by highly trained engineers and competent personnel to tackle a tough real estate market. Bin Ahsan Builders & Developers is one of Pakistan's fastest-growing development firms, operating on a variety of projects around the country.

If you have any real estate questions, please contact RedBox, A Real Estate Company, for more information. Our other articles might help you stay up to date on current events.