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Phase 7 plot,

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   Haroon
Friday, October 24, 2008 12:26 PM 
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Dear CMY and respected team,

I have a plot in phase 6 and one in phase 7 I am considering selling the plot in phase 7 as I have decided to build a family house there.

I need to free some capital therefore am planning on selling the plot in phase 7. I have been adviced by many of my friends that phase 7 will be a beter phase to live in once complete. But the problem is I need to start building a house in next few months.

Could you please give your opinions regarding what I am going to do or can you suggest a better option.

Secondly could you provide me with an estimation of my plot which is near no: 780 S block of phase 7.

I would like to hear from other brothers who have an understanding of this matter
CMY replied on Friday, October 24, 2008 04:38 PM 

Haroon sahib phase 7 could not be a better place to live than DHA 6. What is your plot number in DHA 6?

Plot S 780 is worth 39 lacs now.If you have to sell sell the DHA 7 plot first but keep in mind you may not be able to take any money out. A good house in DHA Lahore now need min over 55 to 60 lacs for construction and furnishing.

Ch Mujahid Yasin ( CMY )
0322-4009967
0300-4009967
Saqib replied on Friday, October 24, 2008 07:51 PM 

Some how people thought that ph 7 was better because of Golf resort and a little distance from the freeway/ ring road, where the traffic noise at night will be high. Am I missing any thing about Ph 6.
Jameel replied on Friday, October 24, 2008 08:54 PM 

I think you have plot in Possession Blocks of phase 6, I dont know which Block and how soon you need house, Though you can start your home today in DHA 6 but right time to move your Family will not be earlier than 3,4 Ys when this phase will be somewhat Populated,
Coming to your phase 7 plot right time to sell it could be on possession. Which will be possibly in 2 ys time. Then you can get good return.
Now you have 2 Option either to sell now or in few months and construct house,
Or wait till 2010 and sell phase 7 plot and then construct house. Both will be equally rewarding as possibly constuction cost will increase at the same pace as possible return,
Pls keep in mind Phase 7 Plot price can come down as well if selling spree starts after Phase 8 Ballot. As 3,4 months after Ballot quick seller come in the Market, till that supply is absorbed market is bit depressed, These quick sellers are 2 type of people, one long holders who were holding till Ballot and others are Army personnels and "Lottery winners" who want to get quick return.
Haroon replied on Saturday, October 25, 2008 11:54 AM 

Thankyou CMY and Jameel sahib for your advice,

I have a question to CMY sahib you said that the plot was worth about 39 lacs is that minus the development charges or not? Secondly I brought this plot for 38.50 lacs nearly one year ago, so after taking out development charges I will be in a loss. This real estate game is a risky. I have read your message and you stated that phase 8 file is a good bet. The information that you stated is it froma good source. Thanks
Haroon replied on Saturday, October 25, 2008 12:04 PM 

Also I want to gain some information, about possesion for phase 7. Jameel sahib usually blocks are given possesion at different times like as in phase 6. There was speculation that possesion could be handed over as soon as the end of next year, which was verified by CMY sahib, please could you comment on that.
Jameel replied on Saturday, October 25, 2008 03:12 PM 

Haroon Sahib,
S Block will be one of those Blocks which wil be handed over earlier, But 1 yr is too early, if main Bluvard would be ready the it was possible, Keep target of 2 ys in Mind, Last instalments will be due in June 2009, Ideally DHA 7 should be handed over in Dec 2009. But it will possibly be at least 1 year late. Next 1 year may be full DHA 6 and P Block get possession.
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