Differences Between Affidavit and Allocation File
Affidavit and Allocation File
Affidavit files can be exchanged between the seller and a buyer without the need of showing up in DHA office. The merchant fills in the details of the buyer on a 30 or 50 Rupees stamp paper and connects 2 x photos of the buyer and requests. DHA exchange the alloted piece of land in the support of the buyer. DHA issues an intimation in the name of the buyer and hands it over to the seller . The merchant than offers it to buyer subsequent to getting the final payment.
- Allocation files are exchanged like some other plot. Exception of that they don’t have a plot number allocated to them yet. Both seller and buyer must be available in the DHA office and sign documents in front of transfer officer.
- Transfer expense of Affidavit is considerably less than an Allocation. The transfer expense is charged at a negligible rate between 6500 to 20000 PKR. However Buyer isn’t charged any advance tax, CVT or Stamp duty.
- In case of Allocation transfer expense is charged for a plot which is more than the transfer expense of an Affidavit file. All the tax formalities must be fulfilled too , including advance tax, CVT and stamp duty.
- The Allocation file is typically less expensive than an Affidavit file to make up for the additional transfer charges.
- Affidavits can be exchanged within 3 to 4 working days at the maximum , anyway it usually takes 7 to 10 days for the transfer of an allocation.
Which one is Good for you?
whenever purchasing a File , you should ask if it is an Affidavit or an Allocation. Both are similarly great and whether you buy an Affidavit it will become an Allocation a short time later. Affidavits however are a favored decision for more people as it includes substantially less of issue and can be transferred relatively rapidly.