Balloted and Non-Balloted plots are two distinct categories of property ownership in real estate. In Pakistan, many housing societies offer both types of plots, and the difference between the two is a matter of priority for buyers. Here, we will discuss the difference between Balloted and Non-Balloted plots in detail and how it affects the ownership rights of the buyers.
Definition of Balloted and Non-Balloted Plots
A Balloted plot is a piece of land that has been officially allocated to a specific person through a transparent balloting process. This process is conducted by the housing society’s management or development authorities, and the results are declared publicly. The Ballot process ensures fairness, transparency, and equal opportunity to all potential buyers. In the case of Blue World City, the housing society conducts a Ballot process for its residential and commercial plots, and the winners are allotted specific plots based on their ballot numbers.
On the other hand, a Non-Balloted plot is a piece of land that is available for purchase without going through any balloting process. These plots are usually sold on a first-come-first-serve basis, and the buyer can select any plot they desire. The ownership of the plot is transferred to the buyer upon payment of the full price. Zaitoon City offers Non-Balloted plots for its housing projects, and buyers can purchase any plot of their choice without going through any balloting process.
Allocation Process of Balloted and Non-Balloted Plots
The primary difference between Balloted and Non-Balloted plots is the level of transparency and equality in the allocation of plots. In Balloted plots, the balloting process ensures that every buyer has an equal chance to get the plot they desire. In Non-Balloted plots, the first-come-first-serve approach may create an unequal opportunity for buyers who are not fast enough to secure their desired plot.
Assurance of Possession
Another difference is the timeframe for the possession of the plot. Balloted plots are usually allotted after the balloting process, and the possession is given to the buyer once the society completes the development work of the particular block. In contrast, Non-Balloted plots can be transferred to the buyer upon full payment, and possession can be given immediately, subject to the development work of the specific block or area.
Moreover, the prices of Balloted and Non-Balloted plots also differ significantly. Balloted plots are often priced higher due to their equal opportunity allocation and assured possession. Non-Balloted plots, on the other hand, are available at a lower price and are often preferred by buyers looking for cheaper investment options.
Furthermore, the documentation process for Balloted and Non-Balloted plots also differs. Balloted plots require an application for the balloting process, and the allotment letter is issued to the successful applicants. The transfer of ownership is then completed through a transfer deed after the development work is completed. In contrast, Non-Balloted plots can be purchased directly from the society’s sales office, and the transfer of ownership is completed through a sale deed.
Another significant difference between Balloted and Non-Balloted plots is the level of risk involved in the investment. Balloted plots are considered safer investments due to their equal opportunity allocation and the assurance of possession after development work. Non-Balloted plots, on the other hand, have a higher risk as the possession is given immediately, and the development work may take a longer time to complete.
Location and Price
The location of the plot also affects the difference between Balloted and Non-Balloted plots. In Blue World City, Balloted plots are available in prime locations, while Non-Balloted plots are available in other areas of the society. In contrast, Zaitoon City offers Non-Balloted plots in prime locations as well, making it easier for buyers to choose a plot in their desired location.
Facilities and Amenities
Moreover, the facilities and amenities offered to Balloted and Non-Balloted plot buyers also differ significantly. Balloted plots are often provided with better facilities and amenities, such as parks, playgrounds, community centers, and other recreational spaces. Non-Balloted plots may have limited access to these amenities or may not have them at all. In Blue World City, Balloted plots are given priority for access to the society’s exclusive facilities, such as the Blue Mosque, China Village, and the Blue World Trade Center.
In contrast, Non-Balloted plots in Zaitoon City offer access to the society’s facilities and amenities, such as schools, hospitals, parks, and mosques, regardless of the location of the plot. However, the priority of access to the facilities may be given to the Balloted plots.
Payment Plan
Additionally, the payment plan for Balloted and Non-Balloted plots also differs. Balloted plots are usually sold on a payment plan that is spread over a more extended period, which makes it easier for buyers to pay for the plot in installments. Non-Balloted plots may require a full payment upfront or a shorter payment plan, which may increase the financial burden on the buyer.
Resale Value
Furthermore, the resale value of Balloted and Non-Balloted plots also differs. Balloted plots are usually in higher demand due to their equal opportunity allocation and assurance of possession, which increases their resale value over time. Non-Balloted plots may have a lower resale value, depending on the location, facilities, and amenities offered.
Legal Security
In terms of legal security, Balloted plots are considered more secure than Non-Balloted plots. The balloting process ensures that the land is legally owned by the society, and the transfer of ownership is completed through a legal process, which reduces the risk of fraud or legal disputes. Non-Balloted plots may have a higher risk of legal disputes or fraud, as the transfer of ownership is completed directly with the society without any balloting or legal process.
Availability
Lastly, the availability of Balloted and Non-Balloted plots also differs. Balloted plots are usually limited in number and are only available during the balloting process. Non-Balloted plots are often available in more significant numbers, making it easier for buyers to find a plot that meets their requirements.
Conclusion
In conclusion, the difference between Balloted and Non-Balloted plots is a matter of priority for buyers in real estate. Balloted plots offer equal opportunity allocation, legal security, better facilities and amenities, and higher resale value, but at a higher price and longer payment plan. Non-Balloted plots offer immediate possession, lower prices, and availability in more significant numbers, but at a higher risk of legal disputes or fraud and limited access to facilities and amenities.
In Blue World City, Balloted plots are available in prime locations and offer access to exclusive facilities, while Non-Balloted plots are available in other areas of the society. Zaitoon City offers Non-Balloted plots in prime locations and provides access to facilities and amenities regardless of the location of the plot.
