Property conversations in Lahore are full of jargon — some of it official, some of it dealer shorthand. This glossary explains 40+ terms you’re likely to encounter when buying in CBD Punjab, in plain language. Where a term connects to a longer guide on this site, we’ve linked it.
A
- Allotment
- The authority’s formal allocation of a specific plot to a buyer, usually confirmed in writing.
- Allotment letter
- The document issued by PCBDDA confirming that a named person has been allotted a stated plot. It is the single most important proof of ownership in a new purchase — always verify it against the authority’s record (see our due-diligence checklist).
- Auction
- PCBDDA’s main method of selling commercial plots: open competitive bidding under PPRA rules, announced on the authority’s website and in newspapers. Details in our CBD Punjab auctions guide.
B
- Balloting
- A draw — manual or computerized — used to assign specific plot numbers to file holders or applicants. Common where demand exceeds the number of identified plots.
- Bid security
- Also called earnest money: a refundable deposit submitted with an auction bid to prove seriousness. Forfeited if a winning bidder walks away.
- Building bye-laws
- The authority’s construction rules: setbacks, height limits, covered area, parking requirements. Anything you build must comply before you get completion approval.
C
- Capital Value Tax (CVT)
- A federal tax levied on the transfer of urban immovable property, calculated on the declared or assessed value. Payable at transfer.
- Central Business District (CBD)
- A city’s designated commercial core. CBD Punjab is Lahore’s planned CBD, developed by PCBDDA — see What is CBD Punjab.
- Commercialization
- The official conversion of a property’s permitted use (e.g. from residential to commercial), subject to the authority’s approval and a commercialization fee.
- Completion certificate
- Issued when a finished building is inspected and found to comply with the approved plans and building bye-laws. Often required before a building can be legally occupied or its units put to use.
- Corner plot
- A plot situated at the junction of two roads or streets. Corner plots usually command a premium for their extra frontage, light, and access — and, in commercial districts, their visibility.
D
- DC rate
- The Deputy Commissioner’s valuation table: government-assessed minimum values per area used to compute stamp duty and taxes. Market prices are usually higher.
- Dealer
- Local shorthand for a property agent or broker who deals in files and plots. A dealer is a private intermediary, not an authority official — anything a dealer promises should be confirmed against PCBDDA’s own record.
- Development charges
- Fees levied by the authority for infrastructure development (roads, utilities, drainage), sometimes payable in instalments alongside the plot price.
E
- Earnest money
- See bid security: the deposit accompanying an auction bid. Terms (amount, refund, forfeiture) are stated in each auction’s notice — read the notice for the specific auction, as explained in our auctions guide.
- Escrow
- A neutral third-party arrangement where funds are held until agreed conditions (like transfer) are met. Rare in informal resale deals — which is exactly why they’re risky.
F
- FAR (Floor Area Ratio)
- The ratio of a building’s total floor area to the area of the plot. A FAR of 1:5 on a 1-kanal plot, for example, permits five times the plot area in built-up space. It is the key number determining how much you can build on a commercial plot.
- FBR rate
- The per-area property valuation notified by the Federal Board of Revenue for federal tax purposes. It is a separate table from the DC rate, and the two are used for different taxes on the same transaction.
- File
- A document representing an entitlement to a plot — typically a stated size in a stated project — subject to balloting, payment schedules, and the authority’s terms. Files trade below the price of identified plots because the exact location and timing are less certain.
- Filer
- A person on the FBR’s Active Taxpayer List (ATL) — in practice, someone who files income-tax returns. Filer status changes the withholding tax payable on a property transfer, so it is checked before a deal closes.
- Freehold
- Outright ownership of land and the property on it, with no time limit — as opposed to leasehold, where the right to use the land runs for a fixed term of years.
G
- Ground rent
- An annual charge paid to the authority or lessor for the use of land held on lease, distinct from the purchase price.
H
- Hammer price
- The winning bid at an auction — the price at which the hammer falls. In a PCBDDA auction, the hammer price becomes the price the winning bidder must pay under the published payment schedule. New to bidding? Start with our first-time buyer’s guide.
I
- Instalment plan
- A payment schedule splitting the plot price into a down payment plus periodic instalments. PCBDDA auction terms specify these strictly — default can trigger penalties or cancellation.
K
- Kanal
- The standard large unit of land measurement in Punjab: 1 kanal = 20 marlas ≈ 4,032 sq ft (approx. 450 sq yd).
L
- LDA (Lahore Development Authority)
- Lahore’s general development authority. PCBDDA is a separate, special-purpose authority created specifically for the Central Business District — the two have different jurisdictions and rules.
- Leasehold
- Ownership of land for a fixed term (e.g. 33 or 99 years) rather than in perpetuity. Some CBD Punjab assets are structured on leasehold terms — check the allotment letter.
M
- Marla
- The standard small unit of land in Punjab: 1 marla ≈ 272 sq ft (approx. 30.25 sq yd); 20 marlas = 1 kanal.
- Master plan
- The authority’s overall land-use blueprint: which districts are commercial, residential, mixed-use, or green. Always check the current master plan before assuming what can be built on a plot — see location and connectivity for how the districts fit together.
- Mutation (intiqal)
- The entry in the revenue record transferring ownership from seller to buyer. For authority-allotted plots, the authority’s transfer process serves a similar function — confirm which record applies to your deal.
N
- NOC (No Objection Certificate)
- A clearance certificate — in property, most often the authority’s confirmation that it has no objection to a transfer, or that a project is approved. Always obtain the NOC from the issuing authority itself, never as a photocopy from a dealer.
P
- PCBDDA
- Punjab Central Business District Development Authority: the special-purpose government authority developing CBD Punjab. It auctions plots, issues allotments, and enforces building bye-laws.
- Plot
- An identified, demarcated piece of land with a number and location — as opposed to a file, which is an entitlement to a plot not yet specifically identified.
- Possession
- Physical handover of the plot to the buyer. “Possession plot” means you can take the site immediately; non-possession inventory may wait on development or balloting.
- PPRA (Punjab Procurement Regulatory Authority)
- The body whose rules govern how public authorities like PCBDDA conduct auctions and procurements — the reason CBD Punjab auctions follow published procedures and timelines.
- Premium
- The amount above a reserve price that a winning bid achieves; also used for the extra charged on choice locations.
- Pre-launch
- Units or files offered for sale before a project’s formal launch or complete approvals. Pre-launch prices can look attractive precisely because the documentation is incomplete — the risk sits with the buyer, so verify approvals before paying anything.
R
- Registry (sale deed)
- The registered legal document transferring property ownership, executed before the sub-registrar. For authority plots, the transfer deed/allotment process may substitute — confirm what applies.
- Resale
- A transaction in which an existing holder sells a file or plot to another private party, as distinct from a fresh purchase from the authority at auction. Resale transfers are recorded with the authority through its transfer process.
- Reserve price
- The minimum price set by PCBDDA for a plot in an auction. Bids below it are not accepted.
S
- Secondary market
- The market in which files and plots change hands between private parties after their original allotment — the resale market, served by dealers. Prices here are set by negotiation between buyer and seller, not by the authority.
- Service charges
- Recurring charges collected for shared services in a developed building or district — security, upkeep of common areas, and similar running costs. Ask exactly what they cover before buying a strata unit.
- Stamp duty
- Provincial tax on the execution of transfer documents, calculated on the DC rate or declared value (whichever is higher). Budget for it in every purchase.
- Strata title
- Ownership of an individual unit (office, apartment, shop) within a larger building, with shared ownership of common areas. Relevant to tower projects like Celestia IT Tower and Sirius — see our strata investment guide (note: published by our team — check the guides hub if the link doesn’t resolve yet).
T
- Title
- A person’s legal ownership of a property — and the documents that prove it. In a fresh CBD Punjab purchase, title is evidenced by the allotment letter together with the authority’s ownership record.
- Token money
- A small advance paid to a seller to hold a deal for a few days. Get a written receipt stating it is adjustable against the price and refundable if the seller defaults — verbal tokens are a classic dispute source.
- Transfer deed
- The document executing the transfer of an allotted plot from seller to buyer, recorded with the authority.
- Transfer fee
- The fee charged by the authority to record a change of ownership. Rates vary by plot category — confirm the current schedule before budgeting.
U
- Urban regeneration
- Redeveloping underused urban land — old industrial or government parcels — into productive commercial and mixed-use districts. This is the core idea behind CBD Punjab: converting state land in central Lahore into a modern business district.
V
- Valuation
- An estimate of a property’s worth — by the DC table (for taxes), by a bank (for financing), or by the market (what a buyer will actually pay). The three rarely agree; know which one a given number refers to.
W
- Withholding tax
- Tax collected at the point of property transfer under income-tax rules; rates differ for filers, late filers, and non-filers. Active Taxpayer List (ATL) status materially changes what you pay — verify yours before the deal.
Z
- Zoning
- The master plan’s division of land into use categories (commercial, residential, amenity, green). A plot’s zone decides what you may build — buying a “commercial” expectation on a non-commercial zone is one of the costliest mistakes in the market.
Terms missing? The market invents new shorthand every year. If you encounter a term in a CBD Punjab deal that isn’t covered here, check the guides hub for the relevant guide — or run it past our due-diligence checklist before you act on it.