Please Advise
Finally got convinced I need to buy some land in Pakistan as investment but wow! You guys are super rich :-) Everyone is talking in crores, and here I am having lived in the US for 20 years having only $50k in my account. It is a shame that I earned 6 figures salary in dollars for last 6 years at least and still I have only 50 Lakhs in savings :-) Are you guys printing money or what? lol *JK*
Anyway, simple questions, to help me get started. Lets use DHA Bahawalpur as example (because it it just starting so process will be easy for me to understand .. no; not investing in it just using as example to help me get clear picture):
A) I submit application. DHA Bahawalpur is going to give me a "file". Correct?
B) I will have file till balloting is done, and that I can sell file to someone else for a small profit. Correct?
C) If my name pops up in ballot, DHA is going to assign me a random plot or I can select any plot after looking at their phase plan/map?
D) If my name does not come in ballot can I still sell the "file"? Is it going to be good for future phases assuming DHA Bahawalpur comes up with Phase 2, 3, etc in future?
E)
DHA Multan is not accepting any applications anymore but so called "
files" are available. When LRE or CMY says 1 Kanal file is available for 40 Lakhs what does that mean? Is this the price of file alone or 40 Lakhs includes the price of plot as well? I mean, how do I know how much is/was the price of plot, and how much is the "file premium" seller is asking for?
If you cannot answer all questions please answer last one. Price of file is the most confusing thing for me. To me it seems like a file is the right to own (if name comes in ballot) so the file price should not be more than 1% of the plot but I see files being listed in crores .. I am really really confused .. Thanks in advance for answers and apologies for a very long post full of basic questions.