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.
Ahmet replied on Wednesday, July 22, 2015 10:20 AM
ITisNeverLate,
A) Yes you will get a file (a file eventually turns into a plot of land upon balloting. The location of the plot can be good, average or bad depending on which plot# you get allocated in the draw). A file is like a lucky draw ticket however in a lucky draw you might lose total value of your ticket. In case of a file, you 'always' get a plot. Some files get balloted sooner. Some later. Some files turn into good plots. Some turn into average or bad plots. The analogies end here.
B) You can always sell your file even before the ballot. File prices keep fluctuating. Phase 9 1 kanal files were available at 45 lacs per kanal a year ago but were being traded at up to 65 lacs per kanal a week before the ballot on May 15. Now upon balloting some very bad plots are available at 55 lacs (yes even lower than the file price) while some golden locations are not even available at an offer of 95 lacs.
C) The location of your plot will depend entirely on the 'lucky draw'. You can get a nice plot next to a park or a plot next to a graveyard.
D) All files eventually get balloted. Some sooner than the others. If you purchase a Bahawalpur file (whether on cash or on installments), you might get a plot in the first round of balloting or maybe in the second round which could be a few months or a year apart. Multan and Gujranwala are better DHA locations to invest for budget investors. Land acquisiton in those cities is going on at a faster pace.
E) DHA Multan 1 kanal file is available at around 29 lacs on cash. The price of the file will go up as balloting nears (or balloting rumors increase). Eventually when balloting happens (whether in 6 months or in 18 months), some individuals will get great plots which they might be able to sell at 60-70 lacs. Some individuals might get average plots which they'd be able to sell at 50-60 lacs. Bad plots might not be sellable beyond 50 lacs (all figures are indicative only).
Hope this helps. |
AZ replied on Wednesday, July 22, 2015 10:24 AM
yes People in PK print money through real estate only...lolz.. |
Tiger replied on Thursday, July 23, 2015 07:55 AM
Dear,
There is a difference in earning 6 figures and savings. Earn is not that hard but to save is always a pain in the neck specially if you are abroad , pay Taxes and all other expenses etc.
However to give you a picture how this investment works you can either buy a file or a plot. File eventually becomes a plot but in file you do not have a plot number so its luck if you can get a corner plot then you are able to sell with good profit. When you file become a plot you would need to pay the development charges in installment to the society. In case of DHA for a 1 Kanal plot there is 20Lac approx development charges. Therefore if you buy a 40Lac file and when this becomes a plot you would pay +20lac on the top.
There are many options with your 50Lac ruppees currently. I would advise you 10Marla on ground plot in Phase 7 with this price. |
mee replied on Saturday, July 25, 2015 08:37 PM
Dear,
I am currently in Lahore and i want to invest in DHA bhawalpur,my question is can I submit application form in lahore or i have to visit bhawalpur and if i can , Can u guide me what procedure it might be?And I am also overseas card holder.Thanks in advance |
mee replied on Saturday, July 25, 2015 08:40 PM
Dear,
I am currently in Lahore and i want to invest in DHA bhawalpur,my question is can I submit application form in lahore or i have to visit bhawalpur and if i can , Can u guide me what procedure it might be?And I am also overseas card holder.Thanks in advance |
