19 Must-Know Real Estate Terminologies You Need to Learn Today!
Like all the industries, there is a list of industry-specific words that are not frequently used. Effective communication becomes challenging without comprehending their meanings. Here is a list of commonly used real estate terminologies that are classified in different groups according to their usage in different areas.
Frequently Used Real Estate Terminologies in Pakistan
There are specific units for each industry, thus real estate industry has its own units for representing the area of land.
It refers to eight (8) kanals of land that is equivalent to 43,560 square feet (sq. ft.).
A land with an area of half of an acre i.e., 21825 square feet (sq. ft.) is called bigha.
A land of twenty (20) Marlas that is equal to 4500 square feet (sq. ft.) approximately is called a kanal.
It is not a standard unit for area measurement and its value varies across the country. The measuring standard is determined by the regulations for a specific area. Its measurement lies between 225 and 272 square feet in size.
Moza is a piece of land that serves as a revenue collector’s office or place of business.
The smallest unit used to measure land is the sarsahi. It is equal to 25 square feet. Nine (9) Sarsahis are equal to one Marla.
To prevent any uncertainty, legal documents must be completely clear, and the concerned owner must understand what each term means.
“Aks” means reflection and Shajra means “family tree”. For individual property owners, it is a hierarchical drawing of a particular part of land. The land’s owner, their khasra numbers, and the property’s borders are all listed in Aks Shajra’s description of the land. It is furnished in response to property owners’ requests. It is particularly used when dealing with issues concerning agricultural land.
It is a piece of legal document that shows proof of ownership and used in property is registration procedures. It contains information on the region, location, and rules set up to keep a record.
A specific individual whose job is to keep a track of land records is called Gardavar or Gardori.
A Gardavri is a lawful document that a Gardavar or Gardori issues to a specific person in order to continue leasing rights with the landowner’s consent.
The revenue department’s lowest ranking official, the patwari, is responsible for maintaining local records. Through a Supreme Court order, the Patwari’s position has undergone the most recent change.
In the case of trading land, their role is now restricted. In order to reduce corruption and enhancement and standardization of overall service quality, the Punjab government has also begun computerizing land records.
The registry is a document displaying proof of ownership of a property. The revenue department issues it.
The Patwari issues a comprehensive map of the property that includes details like Khasra number, the measurement, the location, and the surrounding areas. This map is called a Shajra.
Sale and Purchase of Property
For property transactions, the Pakistani real estate industry employs specific technical words. Understanding such real estate jargon might help you to avoid any misconceptions or complications.
The legal document that serves as a proof of the transfer of property from the seller to the buyer is referred to as inteqal.
Typically, the land records are updated every four years. This method is called Jamabandi. The relevant details regarding the ownership, the location of the property, the land, and its potential divisions are all contained in this document.
When the land records are changed and the property is transferred through a Patwari, it is referred as Partal. The transfer records are kept updated by the revenue division, or Patwaar-Khana.
A unique number that is assigned to a given a piece of land under the shared ownership of a group of people is called Khewat Number.
This is a subdivision of the Khewat Number and refers to a special number allotted to a group of farmers who cultivate a land that is under mutual ownership and have several Khasra Numbers. Any modification to the ownership of the land must be advocated in the Khatauni through mutation procedures.
The Khasra number refers to a specific numerical identifier that is allotted to any piece of land up to 8 kanals or an acre in size.
Pakistan has a fairly conventional approach to the real estate industry that has become obsolete now. Currently, the government is currently prioritizing the computerization of the procedures and data as a standardization measure. It will help in streamlining the complex real estate processes, thus making it easier to maintain and update land records.
Being a leading real agency in Pakistan, we have composed a list of real estate jargon for you. Knowledge of the terms listed would benefit you when you deal with property matters in Pakistan.
If you find this list helpful or have something to add up, comment on our blog, we will be waiting for your response. For any further information, feel free to contact us!