The Definitive Guide-101 Need a Property Valuation certificate in Pakistan, hassle-free, affordable, and fast? In this comprehensive guide, we'll go through the entire process to get the Property Valuation Certificate in Pakistan, step-by-step in . In this article, you will discover: A proven step-by-step process to get evaluated your properties Property Valuation for a visa, Property valuation to get settled a family disputes Property valuation to buy or sell a plot This is the exact process applicants follow to get evaluated properties in Pakistan. The best part is? You can get it even if you're not in Pakistan (overseas Pakistani) or don't have time to visit the valuer's office. Without further ado, Let's get started. IN THIS POST What is PVC? Importance of PVC Who issues the property valuation certificate? PVC Format Pakistan Step-By-Step Process of Property Valuation Step No.1: Purpose of Valuation Step No.2: Required Documents Step No.3: Valuation Fee Payment Final Thoughts FAQs A Premier About Valuation Certificate of Property A property Valuation Certificate is a legit official document that shows the current fair market value of a property. The valuation is based on the property’s condition, location, interior, exterior, fixtures, fittings installed, the material used for the construction, quality of plumbing parts, and electrification. Benefits of Property Valuation Certificate A question becomes "Why do you need a Property valuation certificate? Here are some of the reasons why you need a property valuation certificate: Before selling or buying a property, a valuation needs to be done in order to save on buying or selling property in Pakistan. A certified valuer will inspect, evaluate, and share the final market value considering all the factors associated with the property. To solve a property dispute amongst deceased property distributors or some partners. Another reason might be, you are going abroad for a visit to the USA, the UK, Canada, Australia etc. The tax associated with such properties is a Capital Gain Tax, Wealth tax, Property Tax, Municipal Tax, stamp duty etc. (IRS) You need to enter a book value of an asset or a property. You might need a valuation of the property for financial audit purposes. Acquisition and merger cases are often heard and seen in the news, where sometimes one company takes over another company or property. In such cases, the evaluation of the property in question is done beforehand to determine the final market cost. Who issues the Property valuation certificate in Pakistan? The simple answer to this question is a Registered Valuer of Pakistan. It is possible that the valuation surveyor will visit your property before issuing your certificate. In fact, it is a paid service. And, the assessment of a property done by a real estate business owner (dealer/consultant) is a free service. The approved property evaluators can only issue the property valuation certificate in Pakistan. The approved valuation companies have got the approval from the below-mentioned regulatory bodies in Pakistan: PBA (Pakistan Banks Association) PEC (Pakistan Engineering Council) The State Bank of Pakistan Federal Board of Revenue (FBR) NBFI & Modaraba Association of Pakistan How long does it take to get the Property Valuation Certificate? It takes one (1) working day most of the time. In some cases, it takes 2-3 days to get the Property Valuation Certificate. It would take less time, or a little longer to value your property. It depends on the size of your house and the number of rooms you have. If there are any unique features to your property, allow more time. Property Valuation Certificate Format in Pakistan: (How its look like?) A certificate of property valuation (aka valuation report) entails details of the property, ownership, construction quality, fixtures, and age of the property etc. Here is the property valuation certificate format Pakistan has detailed information breakup a property value certificate encompasses: Personal information: Owner's Name and Other Particulars Applicant's Name Valid CNIC Passport No. (If the property valuation certificate is for Visa), Address For Constructed Properties: Appearance Wear and Tear Condition Fitting & Fixtures Age of Property Location access to property Force Value Construction Quality What is on every four sides of the property? Access approaches the property and many other features of properties need to be considered etc. For Non-Constructed Properties: Location Accessibility to Land/Plot Features (Corner/Non-Corner) Level/Depression Other features and amenities that the property might have Valuations Analysis Details: Size of the land and building, Construction reasonable cost (if the property is a house or any constructed) Final Market value Physical details on the construction and condition. How do valuers do Property valuation? Here are a couple of ways to do property evaluation: Comparable property sold and bought near the area recently; An appraisal is based on location, features, amenities, structural condition, and recent sales of similar local properties, the age of the property. How to Get the Property Valuation Certificate (for Tax) in Pakistan If you intend to sell or purchase a property in Pakistan, you will need a property valuation as a condition of your tax deposit. We believe that FBR conducts valuations or appraisals for land or houses. That said, you need FBR valuations for taxes, paying stamp duty, and such. Ways to get the property valuation in Pakistan (For Taxation) Here's the step-by-step process to get the property evaluation certificate in Pakistan (For Taxation). 1. Go to - the Federal Board of Revenue 2. Select - Valuation of Immovable Properties from the side menu. 3. You see “Rates of Valuation of Immovable Properties”. 4. Select the region/city/district where the property is. 5. You see: “Revision of Value of Immovable Properties of Islamabad”. 6. Download the PDF file or property documents showing the property finalized value of the residential property or commercial properties. Requirements for Property Valuation Certificate Here is the list of documents required for a property valuation certificate in Pakistan: CNIC Copy (Owner of Property/Asset and Applicant) – Front and Back. Property Ownership (Allotment or Registry or Fard or Inteqal in case of Land) Passport (1st Page) - (If it is for visa purposes. ) Construction Drawing Approved (if you have any) Here’s the step-by-step process to get a property valuation certificate in Pakistan: 1 Step No.1: (Purpose of Valuation - The Intent & Pay the Fee) To start, in the process of acquiring a property valuation certificate in Pakistan, you need to clear on what is the purpose of valuation. The value of the property certificate/report depends on what you need it for. To get premium property valuation services for your plot, land and building for several purposes such as property for buying or selling a property on the market, property valuation for a visa, property valuation for a mortgage, Then, you must decide on a valuation fee for a formal valuation report with the approved/registered valuer. 2 Step No.2: Property Inspection/Visit by Valuer's Surveyor The second step in the valuation process is: The valuer company's surveyor might visit your property to get and confirm all relevant information and take some pictures of your property for the valuation report of the house, land, plot etc. However, they may issue you a report on the basis of provided documents and prevailing market conditions. Numerous factors valuers consider in order to get the fair market value (FMV). 3 Step No.3: Report is ready to Deliver In the final step, the valuer has the report ready to deliver as per the valuation intent. It is normal practice, a valuer takes 1-2 days in issuing a property valuation report. However, several factors affect or causes delay in the issuance of valuation certificates. Finally, the Property Valuation report is ready. Pro Tip: It is highly recommended to request the valuer to share you scanned copy of the final draft of the valuation before it gets duly signed and stamped. Valuation Fee A question I most often receive is what a valuer keeps in mind while deciding on the valuation fee: Fee Payment The Valuation Fee depends on the following parameters: Property type The property valuation Fee depends on what kind of property you want to evaluate. For instance, a residential property, a commercial property, a constructed property, or agricultural land. Property size The valuation fee depends on the size, location, constructed, non-construed, commercial, and residential. Location The location of the property is also a main concern to find out the service charges for a valuation. Property valuation report charges are subject to the location of a property. Extra charges have to pay you if the property is in a far-flung area of the town covering the extra expenses that occur. Because the valuation surveyors from the evaluation company have to travel extra mileage. Before going for valuation, the purpose of a Valuation Report is clear. So the service fee of the valuation varies depending on your intent of a valuation (valuation for a visa or a bank loan or any other purpose of valuation). Once you have decided on the valuation fee, next pay them enabling them to start working on your valuation without further delay. Ask the Property valuer when they may provide you with a valuation report. Purpose of valuation Purpose of valuation is a map where to go. So, be clear on the purpose of a Valuation Report before booking a valuation. The service fee varies depending on your intent why you need it. So pay the valuer the agreed-upon fee to avoid delays. Inquire about when to expect the valuation report from the Property valuer. Final Thoughts! In summation, Covered you all about how to get the property valuation certificate in Pakistan. A registered valuation company does this. It is a detailed market analysis of the immovable property. Above is a 5-step process to follow to get your property evaluation report fast. Contact ICONS Valuation for any query about getting a property valuation certificate in Pakistan. I really hope you enjoyed our blog post on how to get property valuation in Pakistan. Now I’d like to hear from you: Either way, let us know by leaving a comment below right now. If you enjoyed this article, share it with your friends and colleagues! FAQS (Frequently Asked Questions) A property valuation report is a legit document showing the property like a house, apartment, land's fair market value, location, size, and other details. You may contact/consult a licensed lawyer or any other professional sales agent who guides you through the process. The Federal Board of Revenue and Excise offices of any location issue the Property Valuation Certificate. Here are the website links to find out the property valuation on Excise department websites: Punjab: https://excise.punjab.gov.pk/ KPK: https://www.kpexcise.gov.pk/app/ Islamabad: https://islamabadexcise.gov.pk/ Sindh: https://excise.gos.pk/ Balochistan: https://pabalochistan.gov.pk/new/ You can get an assessment of your house through a real estate agent in Pakistan. That said, to get a property valuation certificate, you need to contact a registered valuer. It is a paid service whereas the assessment done by a real estate agent is a free service. A professional certified and licensed holder by the Govt of Pakistan may conduct a valuation including residential, commercial, or industrial property. After the required relevant documents submission, a valuer may provide you with a property valuation certificate in Pakistan in 1 to 2 working days. To get property valuation certificate for Canada visa, you need to follow the steps mentioned in this article. It can be used for a student visa/f1 visa/Business Visa or the USA (The United States of America). A valuation certificate is a legit document showing the fair market value, features, and other details of an assets being evaluated and produced for a specific purpose. The answer to this question is straightforward: "No." The valuation services is a paid service for and provided by a professional valuer.