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| Customer Guidelines Index |
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- 1. Precautionary measures to purchase property
We welcome your interest in HBFCL. Following are precautionary measures to be considered at the purchase of residential property (land, house or apartment) for a hassle-free, smooth procedure.
- Ensure that the property is neither mortgaged with any bank nor under litigation in a court of law. (This can be ascertained by obtaining Non-encumbrance certificate from the particular office of the Sub-registrar where the property is located.)
- An authentic title to the property should be held by the seller. In case of a defective title legal action would be taken to dispose off the property.
- To avoid legal complications, ensure that all the original documents with complete chain of title are in order and available with the Seller.
- If the owner resides abroad, a power of attorney should be duly certified by the Embassy or the Consulate General of Pakistan and registered by the area registrar.
Please note that documentation varies per location of the property and is subject to the requirement of local authorities- the Clifton Cantonment Board, Defence Housing Authority (DHA), Lahore Development Authority (LDA), Capital Development Authority (CDA) in Islamabad, Karachi Development Authority, and the other bodies operational in the area where the property is being purchased.
Prior to any Sale agreement the following documents must be checked:
- Allotment letter
- Possession order
- Site Plan and sub-divided site plan
- All paid utility bills and challans
- Approval and completion of the building plan
- Completion certificate
- Transfer/Mutation Order
[In case where Sale Deed is executed subsequent to Lease Deed]
- Power of Attorney, duly executed in the office of the Sub-registrar concerned.
Specific documents requirement for:
- DHA Karachi: Conveyance deed, approval letter for water connection, assessment of property, Sui Gas and KESC installation sketch and test report, demarcation letter and form ‘A’ sub-lease and form ‘B’ lease.
- Clifton Karachi: Shares certificates, sale or gift deed, and form ‘A’ sub-lease and form ‘B’ lease.
All original documents of the property should be attained from the seller at the payment stage, on acquiring the vacant plot up to completion certificate of the building.
In order to minimize any risk in sale/purchase of a property & ascertain authentication of all property related documents please engage the services of a property consultant.
- 2. Purchase of Land from the open market
- Select the locality & the price range for purchase of the land.
- Survey the area and assess the basic amenities of water, sewerage, electric, gas and transport are easily available.
- Area under consideration for purchase should be leased hold.
- Prepare a sale agreement with the seller on a stamp paper of Rs. 100.00 duly attested by Notary.
- 10% of the total value of the purchased plot is payable to the seller at the time of the agreement with an acknowledgment of receipt.
- Obtain photo copies of all the documents and contact the concerned departments & offices for authentication of the documents.
- Ensure to publish notice in news papers highlighting an agreement with the seller and if any person(s) have any objection the concerned department to be informed within 15 days
- After expiry of the period given in the public notice, approach the concerned department i.e. KDA/DHA/KMC/MDA/LDA/CDA & others or Private Cooperative Housing Societies for the transfer of plot in your name with the following documents:
- Original copy of agreement to sell on Non-judicial stamp paper
- Attested photocopy of NICs of Transferor/Transferee/Attorney
- Press notification
- Indemnity Bond on Rs. 50.00 non judicial stamp paper for the transferee/Seller and Transferee/Purchaser
- Paid copy of oldest challan of property tax.
- Attested photo copies of all paid challans
- Attested photocopy of allotment order
- Attested photocopy of Possession order
- Attested photocopy of acknowledgement of Possession
- Attested photocopy of Site plan
- Attested photocopy of Transfer Orders
- Attested color photograph of seller and purchaser
- The concerned department after examination of the above documents will issue a challan for transfer of plot in the designated name.
- Challan payment accepted (within due date) in the authorized Branch.
- Application for the issuance of transfer letter in the designated name to be submitted in the concerned department.
- The authorized Officer of the department under the existing rules will assign the date for recording of the statement of seller and the purchaser, followed by the transfer of plot in the designated name.
- The concerned department will issue the transfer letter within the prescribed period.
- 3. Purchase of a house or apartment
- Select the locality as well as the price range for purchase of a house or apartment.
- Survey the area and assess the basic amenities of water, sewerage, electric, gas and transport are easily available.
- House or apartment under consideration for purchase should be leased hold.
- After selection of the house or apartment enter into a sale agreement with the seller on stamp paper of Rs. 100.00 duly attested by Notary with two witnesses.
- 10% of the total value of the purchased plot is payable to the seller at the time of the agreement with an acknowledgment of receipt.
- Obtain photo copies of all the documents and contact the concerned departments & offices for authentication of the documents:
- Allotment letter
- Possession order
- Site and sub-divided site plan
- All paid utility bills and challans
- Approval and completion of the Building Plan
- Completion certificate
- Transfer/Mutation Order (In case where Sale Deed is executed subsequent to Lease Deed)
- Power of Attorney, duly executed in the office of the Sub-registrar.
- Ensure to publish notice in news papers to confirm agreement with the seller and if any person(s) have any objection the concerned department to be informed within 15 days.
- Original Sale Deed to be executed between purchaser and seller, through an advocate. Revenue stamps required from the Treasury department (on the prescribed rate of the Provincial Government) for affixing on the Sale Deed.
- Photographs of both the seller and purchaser required on the first page of Sale Deed.
- The Advocate should also prepare a second copy of Sale Deed on stamp paper of Rs. 100.00 for mutation after execution of the Sale Deed.
- Pay order in favour of the seller of the balance amount (includes price of the house or apartment agreed with deduction of the token amount paid) to be handed at the time of execution of the Sale Deed.
- Both the seller & the purchaser will appear on the assigned date before the Sub- registrar for execution of the Sale Deed. Original Identity Card and payment of registration & advocate fee required.
- After execution of the Sale Deed, please collect all the original documents of the property from the seller and take authority of the house or apartment on payment of the pay order to the seller.
- The Registrar office will issue a receipt for obtaining the registered original Sale Deed on due date. The original receipt of the Registrar office to be collected (on due date) from the Registrar Office.
- On receipt of the original Sale Deed from the Sub- registrar office please apply to the concerned department for Mutation. (Please refer to Mutation guidelines procedure on page 13)
- 4. Acquiring Titleholder of Land
Step
# |
Situation |
Step-by-step procedure |
Agency |
1
|
Steps to acquire Titleholder of land
Scenario 1
Ownership of land by allotment letter
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This allotment is not considered as title documents to land. It is transferable to any name after completion of the legal formalities of the housing authorities. The plot is transferable in name till execution of the Sub-Lease/Lease.
Lease Deed is a title document; if you are holding allotment of land in your name and want to became a titleholder of the land please contact the authorized officer of the scheme for execution of Lease Deed/Sub Lease/Lease “A” or Lease “B”
Steps:
- Under the rules, the allottee of land has to deposit the dues of the land (if any).
- The concerned agency of KDA/KMC/DHA/CDA/LDA/LDA & others will issue a bill of the due amount against the land in favor of allottee.
- The allottee will obtain prescribed bank file, on payment of required amount of fee, from the nominated branches of the commercial bank.
- After completion of the required formalities, application to the authorized officer of the body for execution of the Lease Deed/ Lease “A” & Lease “B” is required.
- The authorized Officer, will issue three bank Lease/Sub Lease and Lease “A” & Lease “B” to the allottee for the stamping of prescribed value of Rs………… on the first page of Lease/Sub Lease, and License from the treasury office of the Government
- After stamping on the Lease/Sub Lease and Lease “A” & Lease “B”, the applicant will request the concerned officer for the execution of the Lease/Sub Lease and Lease “A” & Lease “B”, in the Sub-registrar office.
- The authorized officer of the department will assign date for execution of the Lease/Sub Lease and Lease “A” & Lease “B”, in favour of the applicant before the Sub registrar.
- After registration of the Lease/Sub Lease ad Licensee “A”, the Registrar’s Office will issue a slip for obtaining the Registered Lease/Sub Lease and Lease “A” & Lease “B”, after one month or so.
Once the Lease/Sub-Lease and Lease “A” & Lease “B” is issued the Titleholder of the property is acquired specified period of time. |
KDA/KMC/
DHA/MDA
The body KDA/LDA/ CDA/KMC/MCB/ DHA etc
|
| 2 |
Scenario 2
Purchase of land/ property on allotment letter by Sale agreement. |
Lease Deed is a Title document for availing loan. In order to become Title holder of the land, purchased on basis of allotment & by sale agreement please contact the authorized officer for execution of Lease Deed/Sub Lease/Sub Lease” A.”
Steps involved
- The buyer of land will be required to deposit the dues of the land.
- The concerned agency i.e. KDA/KMC/DHA will issue a bill of the due amount against land in favour of allottee/ purchase.
- The allottee will obtain prescribed bank file, on payment of fee, from the nominated branches of HBL.
- The authorized officer, after following the required procedure will issue transfer letter in favour of the purchaser.
- After the issuance of Transfer Order, application to the authorized officer of KDA/KMC/DHA for Lease Deed is required.
- After completion of the required formalities, application to the authorized officer of the body for execution of the Lease Deed/ License is required.
- The authorized officer, after observance of required procedure will issue three blank Lease/Sub Lease and Lease “A” & “B” to the allottee for the stamping of prescribed value of Rs………… on the first page of Lease/Sub Lease and License from the treasury Office of the Government.
- After stamping on the Lease/Sub Lease and Lease “A” & “B, the applicant will request the concerned officer for the execution of the Lease/Sub Lease and Lease “A” & “B in the Sub- registrar Office.
- The authorized officer of the department will assign date for execution of the Lease/Sub Lease and Lease “A” & “B in favour of the applicant before the Sub- registrar.
- After registration of the Lease/Sub Lease ad Lease “A” & “B, the Registrar’s Office will issue a slip for obtaining the Registered Lease/Sub Lease and Lease “A” & “B after a month.
Once the Lease/Sub-Lease and Sub Lease “A” & “B is issued the Titleholder of the property is acquired for a specified period of time. |
KDA/KMC/
DHA/MDA LDA/ CDA |
| 3 |
Approval of building plan prior to construction |
An approved building plan prior to any kind of construction is mandatory. Failure to do so would result in legal action & demolition of the structure.
Steps :
- The individual should contact a licensed architect for the preparation of building plan of the property.
- Payment fee to the Controlling authority should be deposited in the designated branches of the bank before submission of building plan for obtaining approval of the concerned Authority
- On deposit of fee, the architect will submit the proposed plan in the Controlling Authority office for approval.
- Currently in Karachi KBCA is approving building plan within three days.
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BCA
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| 4 |
Issuance of NOC |
Prior permission to be obtained by the borrower from the land allotting agency (to the effect that the agency has no objection in assigning the land for availing loan).
For the issuance of NOC:
- After submission & examination of all the required documents, the concerned department would issue a challan in your favor for deposit of the fee in any authorized branch.
- After deposit of the fee, submit the challan in the concerned department for issuance of permission to assign.
- If you have purchased the plot or apartment and acquired the title from any Cooperative Housing Societies / Builders, then permission to assign will be issued by the concerned Cooperative Housing Society and Builder.
|
KDA/KMC/
DHA/MDA LDA/ CDA or the concerned society |
| 5 |
NEC(Non Encumbrance Certificate) |
- The Sub-registrar issues NEC (Non-encumbrance certificate) to the Titleholder of land; mentioning all related details from inception of Lease Deed/Sub Lease/ License.
- For acquiring NEC an application with a photocopy of Lease Deed and nominal fee of Rs………….for NEC through challan in the Treasury Department is required.
- Photocopy of Sale Deed/Conveyance Deed and Mutation should be attached with the application in case of subsequent transaction
- Sub-registrar office will issue NEC on receipt of the above documents and fee.
|
The concerned Sub-registrar |
6 |
Mutation certificate |
If the leased property is purchased by an individual through Sale Deed/ Transfer Deed, Mutation is the first document to be obtained for transference of proprietary rights in the record of concerned land allotting agency.
Mutation is involved on basis of a Leased property purchased by an individual through a Sale Deed
Steps involved
- For issuance of mutation certificate, apply on prescribed form with the following documents:-
- Photocopy of Lease Deed
- Photocopy of CNIC of seller
- Photocopy of Sale Deed/ Transfer Deed
- Challan fees to be deposited at the authorized bank. After submission of the above documents with due verification, a challan will be issued with a copy endorsed to the old owner.
|
KDA/KMC/
DHA/MDA or the concerned society |
- 5. List of Documents required for Execution of:
List of documents required for execution of Lease Deed, Issuance of Allotment Order, Mutation by registered Sale Deed, Pre-lease transfer by Joint Declaration, Transfer by Gift:
Execution of Lease Deed
- Five copies of Site Plan (Blue Print)
- Attested photo copies of CNIC
- Attested copy of paid challan
- Attested copy of Allotment Order
- Possession Order
- Acknowledgement of Possession
- Site Plan
- Transfer Order
Issuance of allotment order
- Affidavit on Rs. 10.00 non judicial stamp paper duly attested
- Attested photocopy of CNIC
- Attested photocopy of all paid challans
Mutation by registered Sale Deed
- Second copy of registered Sale Deed on Rs. 10.00 Non-judicial stamp paper
- Attested photocopy of GPA (if any) with CNIC of Attorney
- Press notification
- Deed of Redemption/NOC from loan granting agency if permission to Mortgage/Assign has already been issued by Authority.
- An affidavit if permission to Assign/Mortgage issued by authority has not been utilized.
- Indemnity Bond on Rs. 30.00 Non-judicial stamp paper from the purchaser.
- Proof of construction
- Completion certificate of Building Control Authority
Or
- Certificate from XEN concerned
Or
- Paid copy of challan of property tax
- Photo copies of all paid challans
- Attested photocopy of Allotment Order
- Attested photocopy of Possession Order
- Attested photocopy of Acknowledgement of Possession
- Attested photocopy of Site Plan
- Attested photocopy of Transfer Order
- Attested photocopy of Registered Lease Deed
Pre-lease transfer by Joint declaration
- Original copy of Agreement to Sell on Non-judicial stamp paper as directed by the government on different sizes of plot.
- Attested photocopy of CNIC of transferee/Attorney (if any)
- Press notification (Specimen ‘A’)
- Attested photocopy of Power of Attorney (if any)
- Indemnity Bond on Rs.50/- Non-judicial stamp paper for the Transferee/Seller and Transferee/Purchaser within (Specimen ‘B & C’).
- Proof of construction
- Completion certificate of Building Control Authority
Or
- Paid copy of the oldest challan of property tax.
- Attested photocopies of all paid challans ( No. of challans to be mentioned with the original).
- Attested photocopy and original of Allotment Order.
- Attested photocopy and original of Possession Order.
- Attested photocopy and original of Acknowledgement of Possession.
- Attested photocopy of site plan.
- Attested photocopy of Transfer Order.
- Color photograph of seller and purchaser attested on the backside
Note: ( Originals will be returned after verification.)
Transfer by Gift
- Declaration of Gift on Rs. 10.00 Non-judicial stamp paper (in original) duly attested by Magistrate/Notary Public (Notary Stamps to be affixed if attestation is done by the Notary Public) Or
Second copy (on Rs. 100.00 Non Judicial Stamp) of the Registered Gift Deed
- Press notification inviting objections/claims to the proposed mutation/transfer on the basis of Gift.
- Indemnity Bond on Rs. 50.00 Non-Judicial papers from donor and donee
- Attested Photo copies of CNIC of donor and donee.
- Search Certificate (in cases of leased plot) from the date of lease up-to-date.
- Permission to Mortgage/Assign or affidavit stating that the Permission to Mortgage/Assign was not utilized (specimen ‘E’) or Deed of Redemption or NOC from the loan granting agency for the proposed mutation should be submitted if Permission to Mortgage has been issued previously.
- Proof of construction i.e.
- Completion certificate of Building Control Authority.
Or
- Certificate from XEN concerned.
Or
- Paid copy of challan of Property Tax.
- Photo copies of all paid challans (No. of challans to be mentioned with the original).
- Attested photocopy and original of Allotment Order.
- Attested photocopy and original of Possession Order.
- Attested photocopy and original of Acknowledgement of Possession.
- Attested photocopy and original of Transfer Orders.
- Attested photocopy and original of Transfer Orders.
- Photographs of donor and donee.
- 6. House Purchase Finance Procedure
Step by step procedure
(For construction cases only)
Step -1 (Pre- registration/ verification process)
- Application form and brochure are available at all district and representative offices of HBFCL as well as our website (www.hbfc.com.pk). Contact numbers of our district and representative offices are available on our website and brochure.
- Details of required documents for application mentioned in the brochure.
- Deposit application fee in H.B.L. as per following schedule:
FEE PAYBALE
FOR HOUSES
LOCATED |
APPLICATIONS
UPTO RS.300,000.00 |
APPLICATIONS
ABOVE RS.300,000.00 &
UPTO RS.500,000.00 |
APPLICATIONS
ABOVE
RS.500,000.00 &
UPTO 1,000,000.00 |
APPLICATIONS
ABOVE 1,000,000.00
& UPT 2,500,000.00 |
APPLICATIONS
ABOVE 2,500,000.00 |
WITHIN MUNCIPAL LIMIT(WITHIN
CANTONMENT
AREA |
RS.3000.00 |
RS.4000.00 |
RS. 6000.00 |
RS. 10,000.00 |
RS. 12,000.00 |
BEYOND
MUNCIPAL
LIMIT |
RS. 3500.00 |
RS. 5000.00 |
RS. 7000.00 |
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- Under HBFCL Ghar Aasan scheme, you can avail:
- Financing according to the rate of your plot given in the collector index.
Or
- In case there is any disagreement on the rates mentioned in collector index an Approved Valuator of Pakistan Bank Association may be contacted to assess market value of the plot. Following steps should be followed for this purpose.
- List of approved Valuators is available at our offices, on our website and in the Guidelines (see annexure )
- The fee directly payable to the Valuator ranges between Rs.1, 500.00 to Rs. 2,500.00.
- Designate a Valuator of your choice in the pre-drafted application.
- Sale Deed/ Lease Deed/ Allotment Letter and building plan to be attached with the application.
Verification procedure.
Following additional documents are required with the documents. Originals will be returned after attestation.
1. Proof of income of the applicant or guarantor:
| For salaried persons |
(Salary certificate) |
| For businessmen /professionals(tax payers) |
(Income tax assessment of
previous 2 years) |
| For businessmen/professionals (non tax payers) |
(Affidavit on prescribed
value stamp paper duly attested by the Notary public) |
| For Agriculture Income |
(Proof of landholding and
income certificate from the Revenue Officer) |
For overseas Pakistanis.
- Income proof certificate duly attested by Pakistan Embassy
- Copy of all pages of passport attested by Pakistan Embassy
- Copy of CNIC attested by Pakistan Embassy
- Undertaking by applicant attested by Pakistan Embassy
- General Power of Attorney attested by Pakistan Embassy
2. Computerized National Identity Card: (CNIC)
- Original and copies of the CNIC of the applicant and guarantor. Original will be returned.
Guarantor’s documents:
- If investment is applied on the basis of guarantor’s income than please submit guarantor ‘s questionnaire form and letter of guarantee on prescribed formats ,duly filled in and signed by the guarantor.
Medical Examination:
- If the financing amount exceeds Rs.3.00 million, medical examination of the applicant/guarantor from SLIC’s approved doctor is required. The list of SLIC’s approved panel of doctors can be obtained from our offices. (The fee and cost of tests are directly payable to the doctor)
- Overseas Pakistanis to submit a medical examination report from a government hospital of the country of residence attested by Pakistan Embassy.
Customer will be informed once valuation/verification of the case is completed.
Step – 2 (Registration and Sanction)
- NEC to be obtained from the Sub-registrar office, where the Lease Deed is registered.
- Submit original receipt of application fee and NEC.
- Obtain account number and receipt of documents.
- Customer will be informed on Loan sanctioned via telephone or mail.
Step -3 (disbursement and registration of assignment deed)
1. Procedure to Release First Cheque
Please visit the office on receiving a call/letter from the District Office about loan approval. Please bring original title documents. Following formalities are to be completed before release of 1st cheque:-
- Sign the repayment schedule & obtain copy of the same.
- Submit original title documents and obtain receipt.
- Deposit advance insurance premium @ Rs.0.50per thousand per month in HBL
- Submit application for the inspection of site (copy is available at annexure of theGuidelines) if construction to the required level is complete as per the Acceptance letter for first trench.
- Submit one copy each of the prescribed letter of continuity & promissory note, duly typed on stamp paper of Rs.100.00
- Submit post-dated cheques (as per schedule of payment).
- (Please note if investment has been sanctioned on guarantor’s income, cheques to be issued of the individual own bank a/c.
- Obtain 3 blank copies of the Deed of Assignment and adhesive stamps (equivalent to the rate mentioned in the schedule* below) affixed, on one of the copies, from the treasury office of the District. (Please take assistance to complete the Deed form).
- An appointment with the concerned officer of HBFCL is required to introduce the Sub-registrar for the registration of the agreement and payment of first installment cheque. Original CNIC and registration fee** required as per the following schedule:
Province |
Cost of adhesive stamp* |
Registration Fee** |
Baluchistan |
2% of the sanctioned amount |
1% of the sanctioned amount |
Khyber-Pakhtoonkhwa |
4% of the sanctioned amount |
0.5% of the sanctioned amount |
Sindh |
0.2% of the sanctioned amount |
1% of the sanctioned amount + Rs 5.00 per page |
Punjab |
0.25% of the sanctioned amount |
0.25% of the sanctioned amount |
2. Procedure to Release Second Cheque
- Submit application for site inspection if construction is complete up to the required level mentioned in the acceptance letter for second trench.
- Submit one copy each of the prescribed letter of continuity & promissory note, duly typed on stamp paper of Rs.100/- each.
- Letter to get lien marked in the office of the concerned authority to be collected from HBFCL and in case of free hold property for mutation in Revenue record, in favour of HBFCL. (This should be submitted in the district office at earliest )
- Cheque can be collected on the following working day after submission of the above documents.
3. Procedure to Release Third Cheque
- Submit application for site inspection if the stage of construction is complete as mentioned in the acceptance letter for third trench.
- Submit letter confirming marking of lien in Society/Authority/Cantonment Board record/Revenue record.
- Submit one copy each of the prescribed letter of continuity & promissory note, duly typed on stamp paper of Rs.100/- each.
- Cheque can be collected on the following working day after submission of the above documents.
4. Procedure to Release Fourth & Last Cheque
- Submit application for site inspection if the stage of construction is complete as mentioned in the acceptance letter for last trench.
- Submit one copy each of the prescribed letter of continuity & promissory note, duly typed on stamp paper of Rs.100/- each.
- Cheque can be collected on the following working day after submission of the required documents.
Procedure for House Finance Facility
Pre- registration step:
- After finalizing the purchase of the property sign a Sale Agreement with the seller on the basis of acquiring financing facility from HBFCL .
- Acquire complete set of photocopies of all original documents of the house from owner.
- For attestation of documents, visit our District office with seller. Original documents will be returned to the owner after attestation. Based on these documents, District Manager will process the case according to the rules.
Documents Required for Construction of House |
- Application form duly filled in.
|
- Fee payment receipt from the Bank.
|
- Photo copies of CNIC duly attested on both sides for CIB purpose.
|
|
- Three colored passport size photographs of the applicant/guarantor.
|
Other documents
- Joint application of the seller and purchaser
- Sale Agreement between seller and purchaser on stamp paper of prescribed value duly attested by Notary public or Oath Commissioner
- Draft Sale Deed (examined by Manager (Law) of the zone or Legal Advisor/Panel Advocate)
- Validity and valuation certificate from approved Valuator of Pakistan Banks Association. (Download list of approved Valuators from our website).
- For house, valuation must be done by two Valuators. For apartment, valuation by single Valuator is adequate.
- The applicant shall pay the valuation fee to the Valuator via pay order drawn in favor of the Company.
- Sale Deed will be executed on the face value of the property according to the valuation table provided by the Provincial Government under Section 27-A of the Stamp duty Act. Or on the amount sanctioned by HBFCL for the investment
- If intending partner is not interested to avail investment for house or apartment purchase at the debt equity ratio based on the market value, his/her request will be considered at the debt equity ratio based on the total cost of house or apartment as assessed by the HBFCL Collector Index rates.(Subject to adequacy of repayment capacity)
- Subject to adequacy of age, income and maximum limit of investment;the admissibility of investment will not exceed 80% of the forced sale value determined by the Valuator or District Manager (whichever is lower).
- Under House purchase cases, original documents will be submitted by the purchaser at the time of execution of Sale Deed and Assignment Deed simultaneously.
- Approved investment under “house purchase/apartment” will be disbursed in one installment.
- The interim period in house purchase case will be 24 months during which the purchaser will pay only Corporation’s share in monthly rent. (on the discretion of partner)
- In house purchase case, payment of rent will commence from the very next month of the release of first and final installment.
House Purchase Rules:
- House purchase facility can be availed in urban areas of Districts and Tehsils only.
- For house purchase, no transaction will be allowed between blood relations.
- House(s) facing coastal areas where age of the house exceeds 20 years are not eligible for investment.
Procedure for valuation of the house as per market value
List of the approved Valuator is available at our offices as well as on website or in Guidelines
- Submit a pre-drafted application .
- Attach photo copies of the Sale Deed/Lease Deed/Allotment Letter and building plan with your application.
- The fee payable to Valuator would range between Rs 1,500.00 – 2,500.00 It is payable via “Pay Order” drawn in favour of the former. The Pay Order will be handed over to the District Manager who will deliver the same to the Valuator on receipt of “Valuation Report”
Proof of income of the applicant or guarantor
For salaried persons |
(Salary certificate) |
For businessmen /professionals (tax payers) |
(income tax assessment
order of previous 2 years) |
For businessmen/professionals (non tax payers) |
(Affidavit on prescribed value
stamp paper duly attested by Notary Public) |
For Agriculture Income |
(Proof of landholding and
income certificate from the
Revenue Officer) |
For overseas Pakistanis.
- Income proof certificate duly attested by Pakistan Embassy
- Copy of all pages of passport attested by Pakistan Embassy
- Copy of CNIC attested by Pakistan Embassy
- Undertaking by applicant attested by Pakistan Embassy
- General Power of Attorney attested by Pakistan Embassy
Computerized National Identity Card
- Copies of CNIC of applicant and guarantor. Please bring original CNICs for attestation purpose.
Guarantor’s documents
- If investment is applied on the basis of guarantor’s income, please submit guarantor‘s questionnaire form and letter of guarantee, on prescribed formats, duly filled in and signed by the guarantor.
Medical Examination for investment exceeding Rs. 3.00 million
- In case the financing required exceeds Rs. 3.00 million, medical examination of the applicant/guarantor from SLIC’s approved doctor is required. The list of SLIC’s approved panel of doctors can be obtained from our offices. The fee and cost of tests are directly payable to the doctor.
- Overseas Pakistanis can have medical examination from a government hospital of the country of residence and submit after having it attested by the Pakistan Embassy.
You will be informed on completion of valuation /verification process.
Step – 2 (Registration and Sanction)
- NEC to be obtained from the Sub –registrar office, where your Lease Deed is registered.
- Obtain account No. and receipt of documents.
- Once the loan has been sanctioned, you will be informed via telephone or mail.
Procedure for Release of Approved Investment in Purchase Case
Please visit the office at earliest after receiving a call/letter on Loan approval from the District Office.Bring original title documents along. Following formalities are to be completed before release of first cheque:
- District Manager will hand over copy of the Sanction Letter & Repayment Schedule and will obtain your signature for receipt of the above papers.
- Deposit 24 months advance insurance premium @ Rs.0.50 per thousand per month in HBL.
- Submit application to the District Office for inspection of site and drawing out of site inspection report/completion report.
- Submit Letter of Continuity & Promissory Note on stamp paper of Rs.100.00 and 200 (as the case may be).
- Submit 25 post-dated cheques (as per schedule of payment) and the Debit Authority.
(Please note if investment has been sanctioned on guarantor’s income, he should issue cheques of his own bank a/c, HBL a/c only)
- Three blank copies of Deed of Assignment to be obtained from the District Manager and adhesive stamps from the treasury office of the District. Please take assistance to fill the deed form. It is advisable to first get the draft of Sale Deed duly approved by the Manager (Law) of the zone or the Panel Advocate, and get the same typed on the stamp paper of prescribed value.
- After completion of the above, submit these documents in the concerned District Office. District Manager will depute a HBFCL Authorized Officer to accompany you to the office of the concerned Sub-registrar where Deed of Assignment and Partnership as well as Sale Deed will be registered simultaneously and cheque of approved investment will be handed over in the presence of the Sub-registrar.
- HBFCL’s authorized officer will obtain the original documents of the property to be mortgaged. Please bring the original CNIC and registration fee as per schedule.
- 7. List of title documents of all district offices
- 8. Disclaimer – Guidelines for Customer Facilitation (GCF)
All information provided in “Guidelines for Customer Facilitation (GCF)” are on an “as is” basis and are without guarantees or warranties of any kind, expressed or implied. Furthermore, any ideas and/or information provided or gained from this site would not necessarily reflect the views of HBFCL, its Directors, management and/or employees.
The information available or obtained through GCF is/are not guaranteed or warranted in terms of completeness, correctness, accuracy, reliability or otherwise by HBFCL or its Directors or its management or employees.
The information obtained through GCF should not be construed as an offer to sanction any investment or any other assistance. The terms and conditions on which the investments are sanctioned and disbursed by HBFCL are subject to changes from time to time depending on various factors. While the GCF may be updated with changes periodically, HBFCL does not guarantee that GCF reflects the latest amendments/information at all times or at any time.
Investments are sanctioned in principle by HBFCL after the verification of applications is verified as per its procedures and approval/rejection of any application may be done at the sole discretion of HBFCL. HBFCL reserves the right to approve/reject any investment application.
Nil Liability
Under no circumstances, including but not limited to negligence, HBFCL or its directors or employees be liable for any special or consequential damages that are alleged to have resulted from the use and/or inability to use this site or information contained within, even if HBFCL and/or its employees or Directors have been notified of the possibilities of potential damages or losses.
In no case HBFCL, its Directors or employees be liable to any person or entity for any damages or losses resulting either directly or indirectly from accessing this site. The information provided herein and any communications subsequently entertained or responded to are / shall be gratis and are/shall be outside the purview of any consumers’ protection law.
House Building Finance Company periodically changes, improves or updates the information and documents in GCF without notice. HBFCL takes no liability or responsibility for any errors or omissions in the content of GCF. Use of this GCF is at users own risk. Under no circumstances and under no legal theory shall HBFCL, its suppliers, principles, its affiliates, or any other party involved in creating, producing, or delivering GCF contents be made liable to any person for any indirect, direct, special, incidental, or consequential damages arising from access to, or use of this GCF.
Contents of this site shall not be reproduced, distributed or published in whole or in part by the recipient hereof or any other person for any purpose without the prior written approval of HBFCL.
Any recipient or user of any information or material in this site may use/rely upon the information or material entirely on his/its own risk.
- 9. Annexure “A”
Karachi |
Rana Sajjad, 39 E/1,Block-6 PECHS,Karachi
Mob: 0300-2820440 |
Rahim Yar Khan Area |
Iftikhar Mughal 16- Model Town, Rahim Yar Khan
Mob: 0300-6729938, 0300-6738778 |
Bahawalpur Area (Bahawalnagar) |
Syed Tanveer Hussain 37-C, Model Town Bahawalpur
Ph: 0621-875800, Mob: 0300-6832114 |
Multan Arewa Muzzafargarh, Dera Ghazi Khan Layyah & Khanewal) |
Abid Ali Jinnah Liaquat Market, U-Block,Chowk Kumharan wala Multan
Ph: 6007492, Mob: 0300-9486870 |
Sahiwal,Vehari & Okara Area |
Sadaf Iqbal Unit-3 Consultants 49-Ghallah andi,Okara
Ph: 0442-524240 – 525546, Mob: 0333-4260604 |
Faisalabad Area |
Muhammad Bashir Herl 5 Chenab Market (Basement)
Madina Town, Faisalabad
Ph: 041-8554460-63, Mob: 0333-6517766 |
Gujranwala Area |
Kamran Siddiq Room No.7, Lepari Hotel, Sheranwala, G.T Road, Gujranwala
Ph: 0431-215528, Mob: 0320-4859008, 0300-6451292 |
Shakargarh/Norowal Area |
Zubair
Ph: 04344-450707 |
Sialkot Area |
Muhammad Ashfaq 61/1 Tariq Road, Sialkot Cantt
Ph: 0432-269582, Mob: 0300-6122355 |
Rawalpindi Islamabad Area |
Tayyab Amjad, Al Bilal Plaza, Room# 2, 1st Floor, Chandni Chowk,Murree Road,Rawalpindi
Mob: 0333-5111302, Ph: 5525672 |
Peshawar Area |
M.Dildar-ul-Hussan, House No.2, Street No.1 Abdullah Colony, Dalzaq Road,Peshawar
Ph: 091-246066, Mob: 0300-5858345 |
Azad Jammu Kashmir |
Raja Amir Aslam Khan Grafix & Stationers, Girls College Road, Muzaffarabad 13100, Azad Kashmir
Ph: 058810-48842 |
Industrial Consultants & Machinery Linkers |
Head Office Peshawar |
Suit No.T-10, 11, 12, 3rd Floor, Bilour Plaza, Saddar
Road,Peshawar Cantt.
Ph: 091-5272009, Fax No.091-5261349
Email: icmlpeshawar@yahoo.co.uk |
Branch Office Faisalabad |
3rd floor, City Heart Plaza, Room No.8, Outside Chiniot Bazar, Faisalabad
Phone No.041-2540330 |
Branch Office Multan |
27-Muhammad Arcade, LMQ Road, Multan
Phone No.061-220412 |
Pirsons Chemical Engineering (Pvt)Ltd |
Multan |
Pirson Chem.Eng. (Pvt)Ltd 321, Sher Shah Road, Multan.
Ph: 061-4549975, 4544151, Fax: 92-61-4547729 |
Karachi |
Prisons (Branch Office) No.407, Landmark Plaza, 4th Floor, Off I.I.Chundrigar Road, Karachi
Ph: 021-2210651-2, Fax: 92-21-2210653 |
Lahore |
Prisons (Branch Office) 213-B, Ahmad Block, Near Garden Town, Lahore
Ph: 042-5862131, 5838716
Mob: 0300-451-4230/0333-612-1135 |
Iqbal A.Nanjee & Co. |
Lahore Office |
95-B, Abid Majeed Road, CMA Colony, Lahore
Ph: 042-6683559 & 6663629
Mob: 0303-7234788, Fax 042-6650924
Email: nanjeelhr@nanjee.com
Contact person:
A.H.Aamir 0300-8415722
Jamil Ahmed 0300-4256336 |
Multan office |
1st floor, Commercial Plaza No.1, Opposite Civil Hospital, Abdali Road,Multan
Ph: 061-584454, 589607, 589608
Email: nanjeemul@nanjee.com
Contact persons:
Mr.Abdul Aleem Awan 0300-9639637
Mr.Fazal Haq 0300-7359771 |
Joseph Lobo (Pvt)Ltd |
Main Office Karachi |
1st floor, Statelife Bldg 7, M.A.Jinnah Road,Karachi, Pakistan
Ph: 9221-2313312(06 lines) Fax: +9221-2310412
Email: lobokr@cyber.net.pk
Contact person:
Faisal Bakhtiar03008211445 |
Lahore Office |
Kothalia Buiding, 2 McLeod Road, Lahore, Pakistan
Ph: +9242-7237101/7223044
Fax+9242-7358474
Email: lobolh@cyber.net.pk
Contact person:
Ajmal Nawaz 03008438384 |
Rawalpindi Office |
A-11, Chaklala Scheme One,Rawalpindi, Pakistan
Ph: 9251-5598201/5598202
Fax: +9251-5598203
Email: loborp@cyber.net.pk
Contact person:
Naseem Uddin 03008211460
|
Multan Office |
147-D, Habib Colony, Multan,Pakistan
Ph: +9261-4512600, Fax: +9251-4512600
Email: lobomt@cyber.net.pk
Contact person:
Atthaar Ahmed-03004148937 |
- 10. Annexure “B”
The District Manager
HBFCL District Office
…………………
SUBJECT: ASSESSMENT/VALUATION OF HOUSE/APARTMENT
Dear Sir,
I intend to apply for House Building Finance Company investment for purchase of the property mentioned above and would like to get the valuation of the property done by Pakistan Bank’s Association approved valuator at my own risk and cost.
I have selected M/s………………………………………………………………………………..
for valuation of the said property from the list of Valuators provided by your office.
I fully understand that the valuation report shall be treated as confidential HBFCL document and will be sent by Valuator directly to HBFCL.
I agree that the decision taken by HBFCL management would be final and acceptable to me.
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| Address:…………………………………………… |
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Dated::
- 11. Annexure “C”
On Rs. 75.00 75/-
This agreement of sale is made at ……………..on this ………………day of ……….. 200 (year two thousand )
BETWEEN
Mr./Mrs./Ms……………………………….s/o d/o w/o ……………………………………
Muslim, adult,
resident of House/flat No……………………………………………………………………...
Holding CNIC No
Hereinafter referred to as the ‘VENDOR” of the FIRST PART
AND
Mr./Mrs./Ms.………………………………………..s/o d/o w/o……………………………………………….
Muslim, adult, resident of …………………………………………………………………………………….
…………………………….., of the Second part, ( both expressions wherever the context permits shall mean and include their heirs, executors, successors, administrators and assigns).
WITNESS AS UNDER:-
Whereas the Vendor aforesaid is at the date of these presents sole and undisputed owner seized and possessed of and is otherwise well and sufficiently entitled to a House/apartment…………………….........................................……………………………………herein afte referred to as the ‘SAID PROPERTY”
AND WHEREAS the said vendor agree to sell and the said Vendee agrees to purchase the said property for a lump sum sale consideration of Rs………...............................……….. (Rupees…………………………………………..only)
On the terms and conditions hereinafter appearing:-
MODE OF PAYMENT:
That the Vendor on this day received a sum of Rs...........
(Rupees ……………………………only) in cash from the Vendee being the “ADVANCE PART PAYMENT” out of total sale consideration of Rs…………….. (Rupees………………………………………………………..
That the balance of the said consideration i.e. Rs. …………….. (Rupees…………………………
………………………………………only) shall be paid by the Vendee to the Vendor through HBFCL investment to be availed on purchase basis of the said property within …………..days.
That the Vendor hereby undertake to deliver possession of the said property together with all the original relevant documents to the Vendee immediately on receiving the balance amount of the total sale consideration as per clause No. 2 above, and after the clearance of total sale consideration the Vendee shall be the sole owner and shall occupy and possess full possession of the same to which the Vendor shall have no claim and concern.
That the Vendor shall be responsible to pay all the dues, taxes and charges including property tax, water tax, electricity charges, gas charges, fire and conservancy and/or all other dues, taxes and charges, payable to the …………………………..Provincial or Federal Government/Lessee/Lessor and/or any other concerned authorities up to date and thereafter the Vendee shall be responsible to pay the same.
That the vendor further covenants with the Vendee that the Lease Deed/Sub Lease Deed/Allotment Transfer Order in respect of the said property is in full force and is subsisting and the Vendor has not committed any thing by which the same may be impaired or has become or may become void and avoidable and that he /she has not prior to the date of this presents done, made committed, caused or knowingly suffered to be done any such act, thing, deed whereby or by reason of which the right to transfer the said property has been or may be impaired or that the property is charged, encumbered or prejudicially effected in any way.
That the Vendor hereby assured and covenants with the Vendee that he/she is the full owner of the said property which is free from all sorts of claims, liens, charges and encumbrances of any nature and that he/she has good right, title and lawful authority to sell the said property to the Vendee in all respect.
That in respective of the agreed sale consideration, the Purchaser/Vendee hereby just to avail the relief/concession in payment of Stamp Duty on execution of Sale Deed against the subject House/apartment reserves his/her right to fix the face value thereof according to the valuation table provided by the Provincial Gazette U/s 27 of the Stamp Act or at the amount sanctioned by HBFCL for its investment, which is higher.
That the Vendor hereby further undertakes to indemnify the Vendee against all losses or damages, if any caused due to misstatement /concealment of facts order any defects in the title of the property.
That the Vendor and his/her successors further agrees to be ready and prepared to sign all such applications/papers/deeds and documents whenever needed on clearance of total sale consideration as they agreed and appear before the authorities concerned whenever required in connection with registration of Sale Deed and/or Transfer/Mutation of the said property in favor of the Vendee.
That the Vendor hereby declares that he/she has not entered into any agreement or negotiation of sale, gift, rent etc. of the said property prior to this agreement of sale.
That the parties hereto agree to abide by the terms and conditions of this agreement.
IN WITNESS WHEREOF both the parties have set and subscribed their respective hands on the day, month and the year first above mentioned.
VENDOR
CNIC No.
VENDEE CNIC No.
Witnesses:
1 …………………………
2 …………………………
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