Introduction

In just five years, Pakistan’s real estate market witnessed a big shift. With the growing population, the need for residential and commercial spaces has been increasing. In order to meet the new scale of requirements, many housing ventures have been emerging in the big cities. Irrespective of the size of the project, every new real estate project provides investment opportunities for local and international investors.

Following that, if you are willing to grab the golden investment opportunity in any major city of Pakistan, then you should be aware of the difference between a plot and a plot file. To simplify things, we will take you through some crucial details that effectively differentiate plots from plot files.

Difference between Plot and Plot File

A plot is physically mapped out in a society, unlike a property file. On the other hand, a property file is just an idea of the plot being numbered, physically designated, and planned out in a specific society, unlike a property file.

A plot is a tangible location clearly mapped out in society. It is numbered, physically designated, planned out in society, and allows immediate construction. A plot file, on the other hand, is just a mere idea that requires a certain time before construction.

What is a Plot?

In the world of real estate, a plot is a piece of land that is meant to be owned by a person or a legal body, whether it be for residential or commercial purposes. It is physically numbered and plotted out in a society or real estate scheme that has the legal approval of governing authorities.

In addition, a plot in a housing venture is considered the best place for investment in Pakistan. It is totally up to you whether you want to initiate a quick construction after possession or reserve it for investment purposes. However, in plot files, you must pay development fees, which include the relevant charges established by the authority of the housing scheme.

In Pakistan, several plot sizes are offered in different public and private projects, such as:

• 5 Marla
• 8 Marla
• 10 Marla
• 1 Marla
• 2 Marla

What is a Plot File?

A plot file is a term that describes a documented promise of a plot along with a specified size of location. It does not possess any physical existence; it is just a mere idea of the future construction that will be done in the planned or existing housing society. In a nutshell, a plot file is just a commitment, ensuring outcomes in a certain period of time.

After some time, these plot files developed into a plot as stated in the documents. However, they have to go through a long process before they finally step into construction, including balloting, possession, and approval from legal authorities.

People tend to invest more in plot files than plots because plot files are cheaper and come in handy. However, an important factor that people usually ignore is that plot files come with great risk and high chances of fraud.

Another important factor is the worth of plot files, as the market trends and conditions greatly influence them. There is a high chance in every property investment, whether they go in loss or earn you a big profit; it solely depends on the fluctuating market conditions.

Where Should I Invest?

Coming to the investment point, one must have the proper knowledge of plot and plot files before depositing money. In Pakistan, purchasing a property requires a substantial investment, possibly one of the major decisions of your life. Real confusion occurs when a person has to choose between a plot and a plot file.

Plot Balloting & Possession

Buying a plot is easy and convenient in a way that allows immediate construction, and one does not have to go through various confusing processes like possession, balloting, etc. Additionally, you can visit the site and clear any doubts since everything is physically marked on the plot. However, the rate of the plot is higher than the plot file, and if they are not marked in a particular society, they do not ensure any profitable investment.

Property files

A plot file, however, differs from this. Property files are less expensive and involve more legislation in the ownership process than plots do. The possession of a certain plot file cones after a long series of processes, including the confirmation of NOC, development of the master plan of the society, balloting, etc.

Risk & Frauds

However, the wait is worth it, and the investment these plot files come with is surely the biggest reason why people are buying more plot files than plots. While plot files offer huge investment opportunities at a lower cost, it is important to mention that they also have greater risks and frauds. Many illegal housing societies are emerging, and investing in them is unsafe.

The investment aspect is a big difference between a plot and a plot file. In the end, the decision solely depends on the person and his preference whether he wants to invest in plot files or just go for a plot.

Conclusion

The blog sheds light on the query ‘Difference between Plot and Plot File: Where to Invest?’ There is a big difference between these two terms; they both possess certain features and drawbacks.

We hope this blog enlightens you about the difference between a plot and a plot file and helps you make investment decisions. We at Sky Marketing take pride in presenting some very safe, secure, and profitable real estate projects in Pakistan, such as Capital Smart City Islamabad, New City Paradise, and Lahore Smart City.