Bro, I was in your situation when I was in the process of preparing the application for the PR. Well, what I discovered was that in order to transfer a house in another person's name in Pakistan costs around 8-10% of the property's value, even if the house is in your father/mother's name. Since the transfer fee was too much (just calculate in your case), I had to sell some of my assets and deposit the amount in my bank account. Since then (about 8 months have passed), the amount is in my bank account. And to be very honest, I am upset about it; I don't know any reason why I can't use that amount, even if I could've invested the amount somewhere else. Well, the rules are rules and you have to live by them! Well, property evaluation is definitely accepted in the London VO but only if the property is in the name of the Principal applicant/accompanying spouse.
Regards,
Ammaar
Hi Ammartahir and Cappuccino
Are you sure that London Visa office accepts property valuation for Pakistani applicants? I am asking because i have a property which is worth around PKR 2.5 million and i want to show it as a POF. But, the problem is that when i was submitting the file to CIO, i had to fulfill the VO requirements as well and in the London VO form i found that London VO only accepts the following POf.
SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our website for exact figures and instructions.
Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in Canada (for you and your family members):
•current bank certification letter; or
•evidence of savings balance; or
•fixed or time deposit statements.Source :
http://www.cic.gc.ca/english/pdf/kits/guides/E37023.pdfNow i am confused whether property would be used as a POF because it is something not easily move able and ofcourse selling it also takes time.
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