How to get property valuation certificate in Pakistan (Step-by-Step)

The Definitive Guide-101

Want a fast and affordable Property Valuation Certificate (PVC) solution?

This comprehensive guide will walk you through the step-by-step process of obtaining a Property Valuation Certificate in 2024.

In this guide, you will discover:

This is the exact process applicants follow to value their properties. For settling family disputes, buying or selling a property, inheritance distribution etc

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.

What is the Valuation Certificate of Property?

A property valuation certificate (PVC) considers several factors: condition, location, soil testing, position, interior, exterior, construction materials, plumbing quality, and electrical setup.

Benefits

A question commonly received is “Why do you need a Property valuation report?

Here are some of the reasons why you need it:

  • Before selling or buying a property, a valuation is required to save on buying or selling properties 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 the 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 valuation of the property in question is done beforehand to determine the final market cost.

Read Also: ICONS Valuations and Other informative posts like how to get the family registration certificate fast.

Who issues the PVC in Pakistan?

The simple answer to this question is a registered valuer of Pakistan. The property valuation surveyor may visit your property before issuing your certificate.

Keep in mind, it is a paid service.

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. The approved valuation companies have got the approval from the below-mentioned regulatory bodies: 

  • 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 a PVC?

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.

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Property Valuation Services

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  • National wide Services
  • Experts-ready International standard valuation Report helps you in getting an Immigration, Student/Business Visa
  • Get instantly settled Family and Property Distribution disputes in Local and Foreign Courts

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    Documents Required

    To apply for the property valuation certificate in Pakistan, here is the list of required documents:

    • 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 proven step-by-step process to get a PVC:

    1

    Step 1: (Define the Purpose of Valuation – The Intent)

    To get started, with acquiring a PVC, you need to be clear on the valuation intent.

    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, for a visa, for a mortgage,

    Then, you must decide on a valuation fee for a formal valuation report with the approved/registered valuer.

    2

    Step 2: Property Inspection

    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 based on the provided documents and prevailing market conditions.

    Several factors valuers consider to get a fair market value (FMV).

    3

    Step 3: Receive Your Report

    In the final step, the valuer has the report ready to deliver according to the valuation intent.

    It is normal practice, a valuer takes 1-2 days to issue a property valuation report. However, several factors affect or cause delays in issuing a valuation certificate.

    Finally, the Property Valuation report is ready.

    Pro Tip: I recommend you request the valuer to share a 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:

    Property Valuation Fee Payment
    Fee Payment

    The Valuation Fee depends on the following parameters:

    Property type

    The property valuation Fee depends on the property you want to evaluate. Like 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 property’s location is also a main concern finding out the service charges for a valuation.

    The property valuation charges are subject to the location.

    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

    The purpose of valuation is a visa 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.

    How do valuers determine a Property’s worth?

    Here are the three traditional methods of property valuation:

    1. Income Approach: Estimates the value of a property based on its potential to generate income, such as rental yields or capitalization rates.
    2. Cost Approach: Calculates the value of a property by estimating the cost of replacing or reproducing it. 
    3. Sales Comparison Approach: Determines the value of a property by comparing it to similar properties that have recently sold in the same market.

    Format: (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 PVC 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.

    Final Thoughts!

    In summation,

    covered you all about how to get the property valuation certificate. A registered valuation company does this. It is a detailed market analysis of the immovable property.

    Above is a 3-step process to get your property evaluation report fast.

    Contact ICONS Valuation for any query about getting a valuation of property.

    I hope you enjoyed our blog post on how to get property valuation.

    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 (Property Valuation Report)

    What is a property valuation report?

    A property valuation report is a legitimate document showing the property like a house, apartment, land’s fair market value, location, size, and other details.

    Who does the FBR valuation of the property?

    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 assessment. 

    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/

    Can I get a free valuation on my house?

    You can get an assessment of your house through a real estate agent in Pakistan.

    With that, to get a property valuation of a house, 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.

    Who is a registered valuation surveyor?

    A professional certified surveyor and licensed holder by the Govt of Pakistan may conduct a valuation including residential, commercial, or industrial property.

    How to get property valuation certificate for canadian visa?

    To get a property valuation certificate for a Canada visa, 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).

    What is a valuation certificate?

    A valuation certificate is a legitimate document showing the fair market value, features, and other details of an asset being evaluated and produced for a specific purpose.

    Can I get Property valuation certificate free of my property?

    The answer to this question is straightforward: “No.” The valuation services are paid service for and provided by a professional valuer.

    Which is the best valuation approach for residential property?

    The market data approach, or sales comparison method, is widely preferred. It estimates value by comparing the property to recently sold ones with similar characteristics.

    What are the 3 appraisal methods?

    Three globally accepted property valuation methods are the cost approach, sales comparison approach, and income approach. Assessors may use one or more depending on the property type.

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    Holds an MBA (Marketing) and is the Founder of ICONS (Investment Consultants) specializing in content marketing. With over 15 years of experience in Real Estate , he has worked extensively as a Valuation Consultant. As a marketing, technology, and valuation expert, he enjoys making complex topics accessible to a large audience. When he’s not glued to his screen, you can find him lost in a book or running.

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