Are you confused about how to convert a property file into a plot? Don’t worry! We will discuss the complete process with all the essential details. Let’s dive into the details.
What is a Plot File?
A plot file is a document with information about the plot in which you have invested. It will contain the size dimensions, location, street number, block number, society name, and ownership details of the plot.
Difference Between Balloted and Non-Balloted Plots
Only holding a plot file is not enough. You must pass through the balloting process to successfully transfer your file into a plot. Here is the difference between balloted and non-balloted plots,
Balloted Plot
These plots have allotted plot numbers, street numbers, and blocks in a society through proper balloting.
Non-Balloted Plots
These are open plots that do not have a designated plot number, street number, or block in the society. They have not passed through a balloting process.
What are the Possession and Non-Possession Plots?
After going through the balloting processes, you will get possession of the plot. Here is the difference between a possession plot and a non-possession plot.
Possession plot
To get plot possession, pay all the plot dues: the cost of land and development charges after balloting. This piece of land will be ready for construction and re-sale. It will have valid ownership (Registry/ Inteqal).
Non-Possession Plot
These plots are not ready for possession because of various reasons. Either they do not have paid complete development charges or the cost of land, or they do not plot numbers through the balloting process. You can not get ownership of these plots or start construction on them.
Requirements to Convert File to Plot
Here are the basic requirements to convert a property file into a plot.
Time-frame of File
You need to hold the plot file for at least 4-5 Years to complete the development work in society and the balloting process. However, this time can be reduced to 1-2 years if the real estate market is in good condition.
Clearance of File Dues
You will pay all the charges for the plot, such as the cost of land and development costs for the plot number and possession of the plot possession.
Status of Residential Society
Buy the plot file in a good housing society to convert it into a possession plot. A satisfactory housing society will have a good track record of plot possession delivery to its members and have done significant development work at the site.
Choose the Best Real Estate Company
Buy plot files from an established real estate company with a record of successful projects in the country, such as Property Naama Group. Do not buy plot files from friends and family or non-professional persons. They will not provide after-sale services.
Complete the Process to Convert the File to Plot
Buy a plot file in a good residential society through a professional real estate company. Then, hold the file for 1-4 years. During this time, pay the cost of land and development charges. Participate in the balloting process, get the plot number, clear all the pending dues, and get plot ownership rights and possession. After that, start construction or re-sale it.
Conversion Offer By Property Naama Group
If you have a plot file and want to get rid of it, then you can avail this offer. Under this deal, you will give your plot file and balance payment to Property Naama Group. We will adjust this file to one of our projects and give you a ready plot in a known residential society.
To get this offer, you can contact the marketing team of Property Naama Group at the given numbers at the end of this blog or on our social media platforms.
https://youtu.be/G5ybuNCzAOw?si=st9Jd3_pd-mfr99h
Contact for Booking and Information
For information to convert the file to the plot, you can reach out to us via :
Our Email address: Info@propertynaama.com
Oversees Clients (For Call Only):
UAN: +92 332 7777888
Overseas and Domestic Clients (For WhatsApp):
WhatsApp: 0331 0105531
Disclaimer:
Please note that the information provided in this blog post is for educational and awareness purposes only and should not be considered professional advice.
Property Naama Group is not responsible for any investment decisions by our clients or investors based on the information provided.
