Lahore Real Estate Forum: Property News & Community Talk : Discussion Property News & Community Talk

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(50969)

Muhammad

Thursday, December 22, 2011 06:26 PM PST

Reply:

Possession of Sector D Bahria Town Lahore

Dear
Anybody knows about the approx time for the possession of Sector D of Bahria town lahore??? when they will finish the ground work?

Regards
Muhammad

BahriaDsector replied on Thursday, December 22, 2011 07:45 PM PST

Expect the possession anytime in next 6 months, the work is going on at a very quick pace, 50% plots of CC block are already ready for possession.

Muhammad replied on Thursday, December 22, 2011 08:05 PM PST

@ Bahria D Sector

dear, you are talking about 10 Marla plots in CC or 5 Marla? which are ready for possession?

Shahzad replied on Friday, December 23, 2011 01:41 PM PST

I visited Bahria Town Lahore Sector D yesterday.
1). Sewerage system is being constructed on main boulivard in AA Block of Sector D.
2). Bahria has launched (10 Marla Plots) DD Block in Sector D near AA Block facing Canal
3). Bahria has developed a rough 3 Layers road of Soil,Big Gravel and Fine small Gravel from Bahria main enterance to Overseas B. They will develop final asphalt layer of road within 15 to 20 days. The road will completely be developed in Mid of January 2012.
4). I have heard from Estate Agent that in future when Sector D will be fully developed. Bahria will close enterance from Executive Lodges. Only the people living in Executive Lodges will be allowed to enter from this side. For Sector B, Safari Villas and Meadows Bahria has planned a Road infront of Sector A and Canal View Residency. This road will connect the Canal to Sector B directly from the Back of Bahria Grand Hotel. People residing in Sector C, Sector D, Overseas A and B will use enterance from Sector D and Overseas B.
5). Bahria has also launched Overseas B Extension.
6). Most probably Bahria will give possession of Sector D in March-April 2012.

Shahzad replied on Friday, December 23, 2011 01:48 PM PST

7). Cemetry in BB Block of Sector D is also under construction.
8). Sewerage System is under development in BB Block of Sector D.
9). No Ground developmet of Golf Course and Commercial area in Block BB of Sector D.
10). Development in BB Block of Sector D is very Slow.
11). Development in AA Block is at Full Pace.
12). Development in (5 Marla) CC Block is somewhat promising.

Bahria replied on Friday, December 23, 2011 03:42 PM PST

It seems a good planing that he each sector have their own entrance rahter whole Bahria is using one road

Muhammad replied on Friday, December 23, 2011 05:19 PM PST

@ Shehzad,
Thank you so much shehzad bhai for such a detailed and nice reply

can you also please highlight that if executive lodges road is closed then then sector D prices will go high or will remain at normal?

Javed replied on Friday, December 23, 2011 05:49 PM PST

Most of the access issues will be managed if Bahria extends the main boulevard to defence road through maedows. In that way Bahria's main boulevard will be linked with defence road from this side and attached with southern ring road from mosque side via proposed sector-E

AG replied on Saturday, December 24, 2011 05:30 AM PST

@Javed

I fully agree with you. In addition to the resolution of access issues extention of BT Lahore Main Boulaward to Defence Road through meadows will have an extremely positive impact on Commercial Area of sector C due to flow of traffic from societies like Superior Services, PAEC, Canal Residency & others through Main Boulavard of BT to Defence Road/Bhopatian Chowak. There will be further increase in footfall to BT Commercial, Educational & Recreational facilities due to short & easy access to residents of societies like Izmir, Jubile Town etc.
If Bahria can afford to announce any plans about this subject it will be a big attraction for investors for Bahria Springs.

Regards

muhammod saleem mughal replied on Friday, January 18, 2013 03:20 PM PST

r no 01446 plote no 588 block bb

r no 01448 plote no 589 block bb

NADEEM ULLAH KHAN replied on Thursday, February 28, 2013 02:45 AM PST

i am nadeem my plot #294\295 DD sector D are ready for possessing or not tell me the procedure . THANKS

(50968)

Zulfiqar

Thursday, December 22, 2011 06:25 PM PST

Reply:

NEED ADDRESS OF GOOD ARCHITECT IN PINDI/ISLAMABAD

Sir,
I am in need of a good architect in Pindi / Isb area.
Please post e-mail address to enble me to contact.

Thank you

SI replied on Thursday, December 22, 2011 09:10 PM PST

Also requested to mention name of good and economical interior designer

Rahim replied on Friday, December 23, 2011 06:05 PM PST

Dear Zulfiqar, you have to make your own design according to your own/ family requirements and give it to an ordinary architect who will further improve your design and once you are fully satisfied ,then ask him to make a final architectural and structural designs for you. But remember you must have proper soil test report of your plot through competent person necessary for structural design.
I have done same for my house in Anchorage Islamabad and paid less than half of what the so called "good architect" was demanding ,ie 2 lacs 50 thousands.I am fully satisfied with my designs. So called good architect will never give you an unlimited time like an ordinary architect.

Good luck

Nadeem replied on Saturday, December 24, 2011 01:23 AM PST

@ Rahim.... Do u have a plot in Navel Anchorage. I am asking because I want to the development progress there. How is going and what is the future ?

Rahim replied on Saturday, December 24, 2011 11:44 AM PST

@ Nadeem, Its peaceful, secure and pollution free location and above all it is being managed by an organisation having a permanent existence, not a one man show.Worth leaving place and future is bright.

khan from canada replied on Sunday, December 25, 2011 03:46 AM PST

Zaheer Malik @ Architectural systems- Tel #

jawwad replied on Monday, February 13, 2012 12:47 AM PST

i am an architect.my office is in bahria town . contact
regards
Ar.Jawwad Arshad

samu replied on Wednesday, November 21, 2012 10:22 PM PST

AoA
sir,
i my self and my team gives you the services related to architecture.
we are with new innovative ideas.
Thank You.cell #

samu replied on Wednesday, November 21, 2012 10:24 PM PST

AoA
sir,
i my self and my team gives you the services related to architecture.
we are with new innovative ideas.
Thank You.cell #

samu replied on Wednesday, November 21, 2012 10:45 PM PST

(50967)

Alex

Thursday, December 22, 2011 05:16 PM PST

Reply:

Completion Certificate

Asalam o Alaikum,

I had a plot in Mustafa Town. I have built my house few months back. As I did not have much budget, I only constructed single story. I plan to construct 2nd story but after few years. My building period expires next month. Should I go for extension to the building period or I should apply for completion certificate? If I get completion certificate, will there be any hindrance from LDA when I will construct 2nd story?

Any advice will be highly appreciated. Thnx in advance.

Alex

Property in Pakistan replied on Tuesday, December 27, 2011 06:45 PM PST

I would recommend you to contact with a property agent because they are updated with the new rules and policies if changed. One thing more a person involved in a business knows about the every aspect of it so he can describe every option.

(50966)

adeel

Thursday, December 22, 2011 03:36 PM PST

Reply:

Dear All,

I need some inputs from my friends. I am planning to construct 1 kanal house and for this I need some web links from where I can get floor layout plans and also elevation designs.
Also is it possible to have 1 bed parallel with drawing in front of lawn. My plot's dimensions are 50x90.
Thanks,

jk replied on Thursday, December 22, 2011 06:44 PM PST

There is nothing like having own design and a unique house
But a common man can find and select a house of his size and make replica of it. There is no harm to ask and to have the plan of said house and also the getail of contractor to deal with.

One can save time and money.

AG replied on Friday, December 23, 2011 12:03 AM PST

Th best thing is to have your house designed by some good architect. Most of the people who design their house on the basis of information collected from here & there end up seriouly regretting their decision after spending their savings of whole life.
Mr. Adeel house design & conatruction is a serious business & you should act accordingly in your own interest.
Regards

Mirza replied on Friday, December 23, 2011 10:51 PM PST

I have plot in Bahria town. I met a lot of BT residents and most of them recommended me to go to Bahria's design department for house map drawing services.

AG,
You also have a house in BT. What do you suggest?

Thanks

AG replied on Saturday, December 24, 2011 04:02 AM PST

@Mirza.

I got my house designed by an outside architect & paid only PRs. 18,000/- for it & I am very happy that I did that. I strongly recommend that people should go to outside architects for the design of their houses. Another very important point I would like to mention is that a friend of mine (An Electrical Engineer) designed his two Kanal house himself & build it in township spending millions of rupees & now does not stop regretting it. I also do not agree that architects are too expansive in Pakistan & do not find any reason to consider spending a couple of lacs for the design of house which is going to cost you in millions as wastage of funds.

Pl. rember "A Thing of Beauty Is a Joy Forever"

Regards

(50965)

Ehtesham

Thursday, December 22, 2011 03:22 PM PST

Reply:

I am an allotee of a Flat in I-15 Islamabad. My saving of a lifetime is deposited with CDA for many years now. I had thought of having a place to live after retirement. Please advice whether I should wait more or can I sell it off and buy somewhere else. Many thanks brothers.

khan replied on Thursday, December 22, 2011 11:54 PM PST

Dear Ehtesham Sahib: It is really sad to see people like yourself losing all their life time savings. It is now for many years that your money is with CDA. I have quickly checked their website and I came to know that they are refunding the actual amount to the people. So basically you do not need to sell it off; you can get back the money from CDA. Here is the link: http://www.cda.gov.pk/cda-latest/files/file.asp?var=i-15

Tahir replied on Friday, December 23, 2011 12:19 PM PST

One of my friends got the refund from CDA. The same is suggested for you and look for something else to buy.
Its the only on ground research which gives you the feasibility of any investment/venture. Internet,TV, newspaper ads etc are always meant to skim money from less informed/innocent people.The more compelling is the advertisement/marketing, more are the chances of being ripped off, irrespective of the creditability/reputation of the advertiser.

Shabbir replied on Friday, December 23, 2011 05:14 PM PST

Mr. Ehtesham,

I agree with Khan and Tahir. Keep you faith in Allah and get out of it.

AG replied on Saturday, December 24, 2011 04:44 AM PST

If, at present, there is no provision in the law/constitution of Pakistan to properly compensate the people like Mr. Ehtesham then It is time for Pakistani Lawmakers to move & put such a law in place because such acts of any entity not only destroy the future of a single family but also leave their future genrations struggling for a shelter for decades to come. Further there should be a law to hold people responsible for such acts & prosecute them.

Regards.

(50964)

Ahmad

Thursday, December 22, 2011 11:44 AM PST

Reply:

ROOF

Dear JK Thanks for your reply. Sir with MUD on the roof should I use TORRIE? or just plain Mattie. Also do you mean by Gypsum is CHIPS?

jk replied on Tuesday, December 20, 2011 02:41 PM PST

Dear Ahmed,
Proper water proofing and roof insulation is very expensive item and not advised to spend much on this issue as it is not the only roof that brings in heat but single core walls and windows as well.

I will suggest to lay roof with very minor slop so that water does not stand on and then use gypsum false ceiling as it gives decoration and prevent heating too.

SI replied on Thursday, December 22, 2011 03:06 PM PST

Dear Ahmad

You may use mud only as 'torrie' is used only in top layer if you are not going to cover roof with brick tiles

jk replied on Thursday, December 22, 2011 03:31 PM PST

SI is right to say you can use mud layer by adding TOREI . Torei act as bond and does not let mud layer crack and wash away in rain.

As for as gypsum ceiling is concered, gypsum sheets are readyly avilable and mostly worker makes there own tiles and use it and this gives good looks and effect heating wise too.

(50963)

Bashir

Thursday, December 22, 2011 10:33 AM PST

Reply:

Please give the price estimation of plot no V 742 phase 8

Bashir replied on Thursday, December 22, 2011 10:41 AM PST

Please also tell that installment pots booked at 55 include development charges or not

Lahore Real Est replied on Thursday, December 22, 2011 01:53 PM PST

Bashir Sahib, Near corner V-742 of DHA Phase 8 has worth of 8 lac profit approximately.Development Charges are included in 55 Lacs.

Lahore Real Est
Lahore Real Estate
03004009967

Muhammad Saad replied on Thursday, December 22, 2011 08:43 PM PST

Is it really 8 lacs or it is a typing mistake? Or it is just the real value of whatever has been paid to date?

Lahore Real Est replied on Thursday, December 22, 2011 08:56 PM PST

Saad Sahib, Its 8 lac profit on booked value Rs.5500000

(50962)

Affaf

Thursday, December 22, 2011 03:19 AM PST

Reply:

B17-Islamabad

I want one plot buy in B17(D Block), one party offer me for sale, plz tell me, whats futer in B17

Abcsdsadasd replied on Thursday, December 22, 2011 05:36 AM PST

what is the offer you have got ? and also plot size ?

affaf replied on Thursday, December 22, 2011 05:45 PM PST

offer is 640000 and paid amount is 640000 and size is 30x60

Shabbir replied on Friday, December 23, 2011 05:16 PM PST

Affaf, talk to society and have them relocate your plot in Sector C. Once you get that done it will be very easy to sale.

(50961)

salman mahmud

Thursday, December 22, 2011 03:07 AM PST

Reply:

Ad Type

City

For Sale

lahore

CMY sir any pdate on PARK VIEW Ballot? :h

Salman mahmud replied on Thursday, December 22, 2011 03:08 AM PST

oops its UPDATE.

Tahir replied on Thursday, December 22, 2011 12:15 PM PST

As per the clauses of agreement, DHA can adjust/relocate the plot of any file anywhere before and after the balloting. But is it fair to adjust the plot from implied premier location to the lest attractive location, where all the development charges remain the same for each and every plot. Now, the Ex-Park view plots can not be allotted in existing Phase-8 and the expected location might be in Phase -7 or across the road with no definite date of balloting, till today.

aaa replied on Thursday, December 22, 2011 10:00 PM PST

sabar ka phal meetha hota hai...............

anjum replied on Friday, December 23, 2011 12:21 AM PST

I have study the merger document and i never see a clause regarding the adjustment of any file or plot in other phases of dha but once u become the member of dha then the dha can adjust u in any other block but the location will be similar in the case of parkview all the encroach plots will be adjusted in other block of parkview.As iam an observer outside the ring i can share some observations about 10 days ago dha uploaded the map which is different from the previous one few number ar different and about 300-400 plots shown empty for the understanding of brokers so another point of view is that all the file will be adjusted in the area of parkview as most of the people ar not the member of dha.So i am agree with the statement sabar ka phal........

soman replied on Friday, December 23, 2011 01:31 AM PST

its mean many of you knows every thing what is going on but no budy share.

anjum replied on Friday, December 23, 2011 11:02 AM PST

Hw u can say people ar not sharing its u people who ar misguiding

(50960)

Muhammad Waqar

Thursday, December 22, 2011 02:31 AM PST

Reply:

PHA Flat for Sale in G-11/4 Islamabad.

Ad Type

City

Scheme

Phase

Block

Size

Demand(Rs)

For Sale

Islamabad

PHA

G-11/4

1035 SF

48 Lac Final

PHA Flat C type in G-11/4, 2nd floor, Block 8, Flat no.6

Irfan replied on Saturday, December 24, 2011 01:32 AM PST

Waqar sahib, have you taken the possession of your flat ? Is all facilities incl gas is available ? How much rental value is there ? Regards

Muhammad Waqar replied on Sunday, December 25, 2011 06:54 PM PST

Irfan Sahib, Yes It was on rent earlier,All facilties are available.
Rental value is between 20000 to 22000 PM. Regards.

(50959)

Javed

Thursday, December 22, 2011 12:49 AM PST

Reply:

Is there 10% extra payment for corner plots in Phase 8. If i buy a corner plot, shall i pay this extra cost or it is already paid by the previous owner.

jk replied on Thursday, December 22, 2011 06:35 AM PST

if it is a installment plot you have to pay 10% of the total cost (i.e 5.5 lacs) and if alloted through allocation file you have to pay 10% extra on development charges only. ( ie one lac )

For schedule and perportion of payment you need to check with DHA.

(50958)

shahid

Wednesday, December 21, 2011 11:53 PM PST

Reply:

Ad Type

City

Scheme

Phase

Cur. Rate

islamabad

dha phase 2 extension is

phase 2 extens islamabad

please lahorerealestate all brothers give me full informnation about dha phase 2 extension islamabad its when is it balloting , giving pocession date and its developing charges and all other important information about it and other societies near around it thanks

jk replied on Thursday, December 22, 2011 06:55 AM PST

DHA Islamabad has 2 phases 1 & 2 and then DHA-2 has a portion located on other side of Islamabad road called DHA-2 extension. This extention has no boundries and who knows how much DHA can stretch it and perhaps take it miles away from this road.

I believe there is NO LAND allocated for these files neither it is under considration of DHA therefore development and pocession is out of question for many years to come.

MAK, Riyadh replied on Friday, December 23, 2011 07:38 PM PST

DHAI Phase II ext has been allocated with land, development contract has been signed in June 2009, is in progress and main roads are being built first. These roads require a lot of concrete work to build bridges throgh the terrain.This is huge about 55000 kanal secenic area. The exact maps has been issued for the marked area and lots of photos are there on DHAI web site and you could searh on this site as well. Tentatively most of it should come up by 2014/15. DHA Valley which comes after Extention is being developped first to be delivered by the end of next year.

kz replied on Sunday, December 25, 2011 07:26 PM PST

it will take time , wait for about 5 years, Really unbearable situ, DHA valley plots will be available in 2013?????????
i doubt that

ndi replied on Monday, January 2, 2012 02:46 AM PST

massive construction activity on geo entertainment on 1 jan , 2010 , is that true or just a media booster????????????????

(50957)

NAB

Wednesday, December 21, 2011 10:18 PM PST

Reply:

INTERIOR DECORATION OF HOUSE

Can any one shed light on medium range interior decoration cost of 1 kanal house with all basic appliances, furniture etc!

NAB replied on Friday, December 23, 2011 11:39 PM PST

Any epx. cost idea please!

(50956)

IrfanUAE

Wednesday, December 21, 2011 09:11 PM PST

Reply:

Please give price estimation for my plot in Phase 7 , Y-Block 1271.
Is there chances the price will increase in the near future (about 6 months)

Lahore Real Est replied on Thursday, December 22, 2011 03:25 PM PST

Irfan Sahib , it has worth of 42 lac approximately.

Lahore Real Est
03004009967
Lahore Real Estate

(50955)

Salim

Wednesday, December 21, 2011 08:49 PM PST

Reply:

Dear CMY,
I am living in UK at present and have a valid NICOP ( National identity card for over seas Pakistanis) but my National ID card has expired. Can I use my NICOP for any transfers in DHA or it has to be National ID card?Thanks.

Salim

s a malik uk replied on Wednesday, December 21, 2011 09:02 PM PST

once u have NICOP your previous National id no longer valid,so u should use NICOP for all transactions.

Khan replied on Wednesday, December 21, 2011 09:26 PM PST

S A Malik is 1000% right.

DXB replied on Thursday, December 22, 2011 04:22 PM PST

NICOP is acceptable but ID card issued in Urdu is preferred for any transactions within Pakistan.

Shabir replied on Friday, December 23, 2011 02:24 AM PST

My understanding is that NICOP is for visa free entry in Pakistan and can be used as ID card in Pakistan but one can still get the NIC from NADRA even if has the NICOP.

s a malik uk replied on Friday, December 23, 2011 04:56 PM PST

your information is not right,u r only allowed one card.

Faisal replied on Friday, December 23, 2011 05:28 PM PST

NICOP works in DHA. My ID card is also expired and I used the NICOP to transfer the plot on my name.

(50954)

CMY

Wednesday, December 21, 2011 06:24 PM PST

Reply:

Please use www.dhalahore.net

Dear friends please note we are having some technical difficulty / trouble in www.lahoreestate.org as its not loading or loading slow.

I have setup a much faster and easy to explore site at www.dhalahore.net . We are currently making and uploading plots for sale pages on www.dhalahore.net so they all will be updated shortly as well.

kindly use this website until we could fix problems with www.lahoreestate.org

Choudry Mujahid Yasin ( CMY )

LahoreRealEstate@Gmail.com

Mahmood Ahmad replied on Sunday, January 1, 2012 09:02 PM PST

Dear CMY

I am in saudia and tried to call you but could not connect, I need your expert opinion, i have purchased one kanal plot in Khyaban-e-amin L block for 28 lacs with insatallments of two years. they are offering possession on first installment by paying further 265000/- please advise is is good for my own home after 4 years ? because i do not have lump sum amount but i can pay in two years. Please advise. Thanks you in advance. May Allah bless you with peace and happiness. ameen. Mahmood

Mahmood Ahmad replied on Sunday, January 1, 2012 09:05 PM PST

Dear CMY

I am in saudia and tried to call you but could not connect, I need your expert opinion, i have purchased one kanal plot in Khyaban-e-amin L block for 28 lacs with insatallments of two years. they are offering possession on first installment by paying further 265000/- please advise is is good for my own home after 4 years ? because i do not have lump sum amount but i can pay in two years. Please advise. Thanks you in advance. May Allah bless you with peace and happiness. ameen. Mahmood

LRE Hot Topics replied on Friday, June 1, 2012 03:12 PM PST

Post added to useful posts list. View MORE Useful Posts Click on >>> LRE Hot Topics

(50953)

Plot Owner in Bahria Enclave Islamabad

Wednesday, December 21, 2011 06:07 PM PST

Reply:

Enquiry about Future

Dear Colleagues,

I would like to know from the experienced and related people in the property sector:

Do you see any increase in prices of Bahria Enclave 10 Marla and 1 Kanal Plots of OLD MAP if they provide possession in 2012?

If the answer is yes, then how much increase we can anticipate?

Sincere opinions are well appreciated. Thanks

Aamir replied on Wednesday, December 21, 2011 09:13 PM PST

These are very difficult questions to answer my dear.

Presently, Bahria enclave plots are selling less than the paid amount(-60,000 to -100,000)in the market. The prices will increase, if and when the management acquires much needed land corresponding to the number of files sold. I am unable to understand how Bahria will give possession in 2012.

I suggest to stick with this investment for a couple of years to recover loss and there might be some profit as well. Best of Luck.

Plot Owner replied on Wednesday, December 21, 2011 10:14 PM PST

Dear Aamir thanks for your reply. I was asking about the OLD map of 10 marla and 1 kanal plots, for which they have already acquired the land and they have almost completed the 80% work, which I have witnessed last week. The have completed a road from Kuri Double road to Bahria Enclave site in this month. They have started carpeting the main roads inside the project, they are working on the main gate, they have almost completed a very big bridge at the entrance, they have done a lot of work on the green park in the middle of 1 kanal plots in the commercial area,they have started work on the lake, they have done the underground sewerage, What else they need to complete to give possession in 2012? if they have done this much of work in only few months.
I have posted my questions to experts and people who have actually visited the site and who can forecast the market. Thanks, no offence please.

(50952)

S_Sharif

Wednesday, December 21, 2011 05:37 PM PST

Reply:

Price Check and Phase 9 Possession

1) Wanted to check the current market offering price for D/467 and D/1888 (5 Marla) of Phase 9 of newly balloted plots. Are they good enough to reap 7 lac profit?

2) Current installment plan for Phase 9 5 Marla plots goes till May 2014, So should we expect a possession handover in May/June 2014 or there are chances that DHA will develop those quite early and will offer plot holders to submit remaining amount as lump sum and take the possession somewhere near the end of 2012 or early 2013.

3) Reminder for all plots holders, first installment is due by Dec 31, 2011.

(50951)

Aamir

Wednesday, December 21, 2011 05:34 PM PST

Reply:

Construction

How to construct house in Lhr on some installments plan ?

boss-sk replied on Wednesday, December 21, 2011 05:49 PM PST

btaO yar koi isko

Shahzad replied on Thursday, December 22, 2011 01:37 AM PST

If you have your own plot. You want to construct home on your plot on installment. The only option is you have to take Home Builder Finance from any islamic bank (Like Meezan Bank or other islami bank). They will give you lumpsome amount in advance. but you have to arrange 30% of advance at your end. You can fulfill your dream of your own house. Bank will issue you a monthly installment plan. e.g.
If you want to take 20,000,00/- from Bank. Then you have to arrange 6,00,000/- which is 30 percent of the advance. Bank will finance you 14,00,000/-. You will tell bank that in how many years you want to return your advance. e.g if you want to return that amount in 10 years then your monthly installment will start from 46,666/-. you can further visit meezan bank site,

http://www.meezanbank.com/easyhome.aspx

@boss-sk: yar agar ap se koi kuch poch raha he to us ko bata hi do.

JJ replied on Thursday, December 22, 2011 02:13 AM PST

Shahzad Sahib, Don't they charge any interest or any other charges instead of interest for issuing loan??

Monthly installment you quoted on 20lacs loan becomes 20lacs at the end of 10 years so just thinking why bank is giving loan to some one without any benefit of his own.

Aamir replied on Thursday, December 22, 2011 08:57 PM PST

I shall be grateful if anybody could suggest/tell about any private company or contractor who constructs houses on installments plan of 2 years or so.

p.paki replied on Friday, December 23, 2011 05:38 AM PST

According to meezan bank. they will charge you rent on every month. and it is with same ratio like conventional banks do. only they claim it in islamic way. but they also use KIBOR rates which is basic fundamental of Interest based financing.

in simple they will give u money and charge u rental every month depending on your remaining amount.

Muhammad Saad replied on Friday, December 23, 2011 05:51 AM PST

Every bank charges interest however meezan bank might call it something else instead of interest. Isn't it obvious that all the banks work for interest / profit / make money.

Anyways, Meezan call it rent i.e. you buy the home with 30% your money and 70% their money. You have to pay the rent of the house (70% based on their share) to the bank. Interesting theory for more info check out:

http://www.meezanbank.com/docs/S4C15.pdf