Transfer by Hiba
This is Hiba Trasfer quidelines by Fazaia Housing and Think these are generlaized, YOu save only CVT but stamp fees is due still. Not sure about advanced income Tax
TRANSFER OF PLOT TO FAMILY MEMBER AS GIFT
1. For Transfer of gift plot following documents would be required:-
(a) Membership application form duly attested by Notary Public.
(b) Affidavit by the Donor & Donee on stamp paper of Rs 50/- duly attested by
Notary Public.
(c) Application for Gift of Plot duly attested by Notary Public.
(d) Attested photo copy of CNIC of Donor, Donee, NOK & 02 witnesses.
(e) Original allotment letter issued by Directorate of Estate Projects.
(f) Draft / Pay order for all outstanding dues if any in favour of Directorate of Estate
Projects (Fazaia Lahore), Air Headquarters, Islamabad.
(g) Draft / Pay order for Transfer/Membership fee in the favour of Directorate of
Estate Projects (Fazaia Lahore), Air Headquarters, Islamabad.
(h) Application for NOC to Director Estate Projects
(i) Appearance of Donor and Donee are compulsory.
(j) Deposit 2% Stamp Duty (CVT 2% exempted in gift transfer case) levied by Govt
of Punjab in Govt Treasury before transfer of plot
(k) The plot can be transferred as gift to Father, Mother, Husband, Wife, Son and
Daughter only.
NOTE:- THE TRANSFER OF MORE THAN ONE PLOT AS A GIFT, WOULD
BE CHARGED NORMAL
TRANSFER FEE.