Lahore Real Estate Forum

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(573)
Monday, September 23, 2019 03:46 AM PST 
DHA Bahawalpur Latest Updates

Words of DHA Bahawalpur Project Director Today Sept 22 2019

New Buses reached at DHA Site. Double Decker is on its way. Dancing Fountain Shipped from China last week.
Stay tuned, lot of fun coming to DHA Bwp in next few months.

School and Villa Mosque under construction and will complete soon. Park will be completed by end October with dancing Fountain. Central Mosque contracted and work will start this week on the nd. Will speed up.
2 x Battery operated cars are also available at Site. If dealers want to take their clients to DHA tour, can use these as well.

This water fun activity is also being installed in DHA Park.


Ch Mujahid Yasin (CMY) Of
Lahore Real Estate ®
MB-46 Main Boulevard DHA Lahore Phase 6 Near DHA Head Office
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Ahsan replied on Monday, September 23, 2019 07:03 PM PST 

Good Days Ahead of DHA Bwp. Prices will double after 2-3 years of current prices, specially in A B and C Sectors

DHABwpUAE replied on Monday, September 23, 2019 07:03 PM PST 

Good Days Ahead of DHA Bwp. Prices will double after 2-3 years of current prices, specially in A B and C Sectors
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(571)
Wednesday, July 10, 2019 04:13 AM PST 
Payment of Plot in Dollars

I would like to ask people having experience in Pakistan Banking system that is it Possible to Issue a Pay order or Security deposit SDR in Dollars, I know that a Demand draft can be made but it Involves the payment through New York Banking system and Dollars are credited in 2 weeks,
With the widening gap between open and Interbank Conversion Rate and Banks do not even pay rates neat interbank this option can be of Value for the selling who is planning to buy Dollars after selling the plots we can mutually agree on Mid of Buying and selling rate. It will save money both for buyer and seller.
I can transfer the money by Cheque before transfer but that will Compromise the safety of deal

Ahsan replied on Wednesday, July 10, 2019 11:00 AM PST 

In Pakistan you cannot make payorders or any other instrument in USD for such transactions.
DD for specific purpose like fee payment can be made.
If you have USD account in Pakistan, you cannot even make a cross cheque to another USD account. :)

Ali replied on Wednesday, July 10, 2019 11:00 AM PST 

In Pakistan you cannot make payorders or any other instrument in USD for such transactions.
DD for specific purpose like fee payment can be made.
If you have USD account in Pakistan, you cannot even make a cross cheque to another USD account. :)

Overseas replied on Wednesday, July 10, 2019 07:38 PM PST 

Appreciate for experts guidance on FC accounts in Pakistan.
Normaly NRPs like to keep their saving in Pak in FC account in USD to avoid exchange rate fluctuation. Beside that they prefer to keep their option open to take their saving back abroad if need be. What is the legal status of such accounts if the acct holder is filer or non filer. What is the legal status if USD changed to PKR through money changer for any purpose including property purchse.
Wheather the bank will issue PRC if USD changed with bank on inerbank rate.
PRC is a requirment of FBR as proof of remittance which is tax free and FBR uses a word " through proper banking channel" then this very surprizing the money changer is doing bussiness in front of FBR office.

Ali replied on Wednesday, July 10, 2019 08:39 PM PST 

There is no restriction of opening FC account for non filers till now.
You always have to withdraw the FC and carry it to the money changer.
Once the remittance is into your Pakistani account (FC or pkr), there is trail. No worries.
There is no way in Pakistan that you can have inter-bank rate. You always have to go to open market.

Habib replied on Thursday, July 11, 2019 02:40 AM PST 

I guess Ali Your information is not updated, Coming back to Overseas
Yes an overseas Person or in lander can open an Account in Foreign Currency He should be filer for that this was implemented in 2018 end.
If you have opened a FC Account in Pakistan Before 2018, then you can not deposit any Dollars in that account until you are a filer. You can Draw Money inform of Pak Currency based upon interbank rate of market. I guess you cant draw Dollars as well
If You are filer then you can deposit or Draw Dollars, However to draw $ is tedious Process as Most of Branches will say we don't have cash Dollars.
In my case main purpose of opening Dollar account was to Purchase property, Keeping Dollars in Pakistan would Fetch me same rate as best remittance like tez Raftar UBL or HBL but before opening Dollar Account in Most cases I had to Complete the deal staying abroad, Like I am Hunting a Plot I will Finalize the deal from UAE, Transfer Money in Form of Rupee to My Pakistani account and then reach Pakistan to execute deal. Keeping Dollar Account gave me freedom that I could finalize any deal during my stay in Pakistan and arrange money within few Hours, Incase no lucrative deal then come back, money will not devalue staying in Dollars.
I almost always chased dollars through Bank for my USD account to PKR account. Once I asked money dealer to Come to bank and take dollars and deposit money to my PKR account, as I wanted to avoid handling cash. To my surprise he offered me the rate even lesser than Inter Bank Rate hence I thought why to Break money trail just for nothing or a nominal Benefit,
By the way to be a filer is very easy for overseas, FBR accepts you Passport and Foreign ID Card as an evidence and gives you active NTN in few Hours and Later You can File a simplified empty page for overseas Filer called 140 That also is accepted right away.
Without becoming filer you cant run FC account and Neither you can buy any property No matter 50 Lac or lesser so it is no more optional.
I never got PRC yes it is Possible to get and you can ask your bank but if you have valid money trail FBR will ask for it only if there is a serious case or notice against you.

Overseas replied on Thursday, July 11, 2019 05:01 AM PST 

Habib Sahib thanks for input. I made a mistake in 2015 . I sent USD in my account. Came to Pak , slected a house , asked my bank to change my USD , they refused as the interbank rate was falling. Had no option except to change with money changer and i suffered loss. Had to make pay order. Completed the deal and I returned. Now the amenesty 2019 came. I checked with lawers and declared all my assets as per lawer advice to get away ftom expected FBR notices.
It is adviseable to brothers , do not change with money changer especialy if you are buying property. FBR may ask for PRC. Always use propr banking channel.

Ahmed replied on Thursday, July 11, 2019 11:40 AM PST 

@Habib
What the procedure of getting interbank rate? Suppose I have USD account and I want to get it cashed at interbank rate. Where the money will be converted to, since my account is USD?
Could you please advice?

Ali replied on Thursday, July 11, 2019 02:08 PM PST 

Habib sahib, can u guide as tax return form for overseas is simple one, but u don't hv to mention if any property is bought, only has to show that more than half of year spent out Pakistan, but what to do with this property if in future you have been asked? I filed return last year through tax layer and asked him same question and he just this simple form to show half of time out country.

Irfan replied on Thursday, July 11, 2019 05:52 PM PST 

@Ali along with tax return, you should also submit wealth statement for declaring your property etc

Habib replied on Thursday, July 11, 2019 10:59 PM PST 

Ahmad, It is very easy if you have USD and Rupee Account in same bank, I go to manager and ask to credit some USD in my PKR account, He sends an email to their Head office in Karachi, the reply Comes with in 20 minutes that we are offering this rate this rate usually very Close to interbank buying Rate Like Interbank buying rate is 156 Rs per Dollar they offer you about 155.45 for example, They tell that is spot rate, But I understand they want to Keep some Margin from Max Interbank Rate, It is advisable to forward request at about 10AM and Rate is a bit more, Towards the closing time they offer less.
MR Ali, there are 3 steps
First you should get Password and Pin by Registering to FBR Iris site , For that you should have a working sim and not previously registered with any other name FBR system preferably should be in your name. Best time to Register it on day time at night time mostly sever errors come.
Second is your registration form that already laying there you go to drafts and see it and make changes to it, If you are overseas preferably Mention in Property address the Overseas address, If you don't own that property Mention its value 0 , you will have to mention the percentage ownership this is system glitch you can mention 1%, Like I mentioned that I am staying in an Apartment arranged by Employer and its value is 0 and my ownership is 1%. to support that you can make one attachment of your Passport front visa and Exit entry Pages and submit it in Place of ownership proof, you may submit the Electric bill or any other municipality bill of that residence if your mane is shown on that. Then you submit,
soon Confirmation Comes and they issue a Tax payer certificate and your becomes active Tax payer. It is Optional to go to declaration and submit a 114 Form for overseas who have zero income in Pakistan it is one page simple form as you declare yourself non resident [staying more than 183 days outside Pakistan] You can sign it blank. Or if you have paid any tax in previous year in non filer rate you can mention and get refund in form of Tax Credit{I did not go to that detail] My main purpose was to remove the restriction from my dollar account and I informed my Bank who did all the amendments within one day.
The Last Step can be asset declaration as It is Clearly mentioned in Q&A of FBR site that for overseas that assets declaration is not mandatory for overseas unless asked by Commissioner then you will have to do, I did not do that.

Habib replied on Thursday, July 11, 2019 11:11 PM PST 

@ Irfan wealth statement is not mandatory for the overseas, However as I mentioned if asked I will have to submit, that too should not be difficult. My main purpose was to Document in FBR system that I am overseas, other wise Notices from FBR were must based on Property Transection or Bank deposit more than 5 Lac.
NADRA FBR system is different it shows what data FBR have against your ID Card Number, They have Travel History, Property transection list in last 2 years Cars under your name and Possibly Bank accounts, They Don't display all the things like balance etc due to sensitivity or incase your password is hacked.
As I told before to remain NON-Filer is not optional anymore.

Ali replied on Friday, July 12, 2019 06:59 PM PST 

@Habib sab
One question please.
How to get a foreign remittance certificate? And from where to get it?

Overseas replied on Friday, July 12, 2019 08:06 PM PST 

Ask your bank in Pakistan. Your bank will provide PRC if you have remittance in your Pak Rps account. Or if you have remitance in FC account and you have asked your bank to change you FC to PKR on interbank rate then you can get PRC for that alongwith other remitances. Further your bank statement is also a proof of temitance and you can ask the bank for PRC if it is really required. One lawyer told me your remitance should be executed through pproper banking channel ,means amount should be remitted through bank and not throough money changer from abroad.
Mery bhai Humara system kch esa hey k kabhi poora hathi guzer jata hey or kisi ko pta nhi hota or kabhi hathi ki dom key ek baal ko paker liya jata hey.
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(570)
Wednesday, June 26, 2019 04:40 PM PST 

US $ to reach 184 within one year , as agreed by government to IMF 🙁

Khan88 replied on Wednesday, June 26, 2019 04:57 PM PST 

Unfortunately it will be really bad for the poor people of the country.

The wealthy will hoard assets in gold/usd/foreign currencies.

free_man replied on Thursday, June 27, 2019 01:01 PM PST 

There is no agreement on rate but agreement is on free float exchange rate. This can go 485 and even beyond if the demand for imports keep going up. But there is economic theory of replacement comes in when meat get expensive people resort to pulses. If exchange will keep going up then people will come to a point where imported goods will be unaffordable and demand for import will decline, so will be demand for dollar. This balance point could be any body's guess. It can be 185, may be 200 or 250.

Ahsan Sattar replied on Thursday, June 27, 2019 01:58 PM PST 

There is one thing called "Real Effective Exchange Rate" REER. The REER of Pakistan was around 125 in 2017 when Pakistan was asked to bring REER closer to 100 for any negotiations with IMF. Pakistan since then started devaluation.
Currently (at 162) the REER of Pakistani rupee is 103. This is fairly close to 100.
The problem with our currency is as soon the government brings REER close to 100 mark it starts rising again, because of number of factors including the trade deficit.
It will be keep depreciating but at lower rate till end of this year probably. After that global recession to follow.
Best of luck!
(At 100 it is considered that the currency is neither overvalued or undervalued. Above 100 is artificially over valued currency and below 100 is overvalued currency)

Kashif79 replied on Thursday, June 27, 2019 11:38 PM PST 

IMF money has not arrived as yet. The situation may change when that occurs and when more lenders are willing to lend.
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(567)
Tuesday, February 20, 2018 02:57 PM PST 

Bahria Orchard Phase 4 (10 Marla)
G3 82
Own: 3 Lacs
G3 233
Own: 3 Lacs
G3 123
Own: 3 Lacs
G3 117
Own: 3 Lacs
G3 240
Own: 3 Lacs
G3 215
Own: 3 Lacs
G3 85
Own: 3 Lacs
G3 179
Own: 4 Lacs
G3 62
Own: 3 Lacs
G3 286
Own: 3 Lacs
G3 95
Own: 3 Lacs
G3 120
Own: 2.50 Lacs
G3 102
Own: 2 Lacs
G3 195
Own: 2.50 Lacs
G3 247
Own: 4 Lacs
G3 226
Own: 2.50 Lacs
G4 263
Own: 4.5 Lacs
G4 421
Own: 5 Lacs
G4 240
Own: 4 Lacs

Contact:
Umair Zaheer +
Burair Zaidi +

Lahore Real Estate
46-MB, DHA Phase 6,
Lahore

Habib replied on Tuesday, February 20, 2018 03:03 PM PST 

what is total price

Shahid1 replied on Tuesday, February 20, 2018 08:32 PM PST 

No trust on Bahria. They may never give you a plot if prices go up.

Adil replied on Wednesday, February 21, 2018 08:43 PM PST 

70% plots are on ground in a year. Please visit the site

Umair Zaheer replied on Friday, February 23, 2018 07:59 PM PST 

Total Booking Price for 10 Marla is 5111000/-
For More details do contact
Umair Zaheer
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(566)
Monday, October 10, 2016 02:25 AM PST 

Dear Friends
I have one 5 marla plot in Eden residencia for which full installments are paid. Now i heard that Eden is asking for additional 10 Lac to get possession which is very embarrassing. I had consult with estate agents and they have also given adverse remarks about eden. Would any one can guide as i am now of view to sell the plot asno hope to get it.
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(565)
Friday, September 9, 2016 02:35 AM PST 
Future of Bahria Orchard LOW COST for short term investment

Dear Experts
Whats about price status of low cost orchard in next few months
1- Price decreasing trend
2- price increasing trend
3- stable
Thanks for your valuable opinions

FAA.awan replied on Friday, September 9, 2016 04:09 AM PST 

Dear mian G, Bahria Orchard is low cost project and suitable for small investors as there is no issue of tax.Possession and Ring Road are very very positive points for this beautiful soceity.Under 40 lac tax threshhold,it is attraction for newcomers as well.
Till the end of Sept-Oct 2016,prices will remain stable.In Nov-Dec 2016,prices will increase once again unexpectedly.It's time to buy not to sell.wait and see how Orchard starts its boom in near future.

Naveed@786 replied on Friday, September 9, 2016 05:54 AM PST 

In these days the prices are very attractive in Orchard to avail pportunities to buy and hold for 6months to 1 year time period to get maximum level of benefits on investments.

Bahria Orchard is very good society which is going to become an on ground developed project by Bahria including all amunities of wounderful living environment with a nice location and approach by LRR soon INSHALLAH.

Ahsan replied on Friday, September 9, 2016 09:18 AM PST 

Seriously Think about properties which are not developed in Defence and sorroundings of defence are also already increased so much with the benefits of access by LRR.

Bahria Orchard is well developed with pocession in phase 1 and ready to pocession in phase 2 Now think when approach and access would be better than what will be great impacts on Bahria Orchard which ia already nice located at Raiwind Road with the Brand of Bahria Town.

Its time to invest!!!

Jameel Mughal replied on Friday, September 9, 2016 03:47 PM PST 

Low cost have Made tremendous gains in Past 6 months, However its Price is Competitive and should stabilize, Temporary Down trend can be there.

If I am a buyer there I would Aim at making home or long term Plan, a Bit of Fluctuation should not prevent me for making decision.
Say if If 30 Lac plot will be 28 in one year so what? This can be be only imprtant for margin trader who sells the properties without transferring [ Biana Trader] People who pat 2 Lac Transfer Chrges should not worry about that, As I cant saty for sure that in one year it will be 32 or 28,
However short term Trader should stay away from IT, ANY HOLDER LESS THAN 2,3 YS IS SHORT TERM TRADER,
Very long term Holder like 5 to 7 years should be aware of Bahria no construction penalty Policy which is unique to them and was openly criticised
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(564)
Friday, August 12, 2016 01:08 PM PST 
Bahria Orchard

Dear Fourm members,

I have just received a good news from my friend that the construction activity has been started in LCO blocks in Bahria Orchard Lahore.

The attached pictures of LCO block H where a house is under construction. If someone have further information than please let us inform.

According to Bahria officials if anybody who have plots in Bahria Orchard phase2 J, G and H blocks can apply for map to construct houses.

Thanks and Regards,

Ahsan replied on Friday, August 12, 2016 02:20 PM PST 

I also got my NOC from Bahria last week. Just need to apply for map.

Ali javed replied on Friday, August 12, 2016 02:20 PM PST 

I also got my NOC from Bahria last week. Just need to apply for map.

FAA.awan replied on Friday, August 12, 2016 04:20 PM PST 

A Good news for Bahria Orchard plots holders,especially for new investors.
Congratulations to Orchard LCO phase 2 investors.

Dubai replied on Friday, August 12, 2016 06:23 PM PST 

Thanks for sharing latest update and a really sparkling newes for which I was so much awaited.

Der aae darust aae. -:)

I have called few plot holders and they have confirmed that the work on their requests for approval of map for construction in LCO blocks is under process

Plots with all dues cleared are entertained for map approval in Bahria office. Few plot holders already got their confirmation letters after a routine proceedure of Bahria officials such as on site work clearance etc.

Rana Tajamal Hussain replied on Friday, August 12, 2016 08:00 PM PST 

I think this is the time to hold plots to get reward within 6 months because 5 and 8 Marla plots is an attractive Tax Free Investment in Orchard at the moment.

Hashim replied on Friday, August 12, 2016 11:14 PM PST 

Rana Sb and Awan Sb but after possession news in PHase 2 orchard. New imposed Taxes will have any impact on Orchard or still no impact after possession news?

HassanHC replied on Saturday, August 13, 2016 12:41 AM PST 

Hashmi saab orchard has no new taxes for Phase 2. Also Orchard scheme is under fbr 40 lac threshold so no new taxes as such.

FAA.awan replied on Saturday, August 13, 2016 01:07 AM PST 

No tension of taxes as it is low cost project.Tax free zone under 40 lac threshold.Best time to pick up small plots 5m and 8m.

Hashim replied on Saturday, August 13, 2016 02:11 AM PST 

Thanks Hassan Sb and Awan Sb. You people are really having very good knoweledge of Orchard and adjoining societies. Thanks forever for ur valuable suggestions.
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