Hello.
I bought a plot in DHA 6- B-BLOCK in 2006 for 57 lacs. I paid around USD$ 94,000. I know I have incurred a loss on it because of the fall in the value of the pakistani rupee (60 at the time, around 80 now). Would have been better for me not to get involved in pakistani real-estate but now I am stuck there.
Can people please provide their opinion as to when this plot may be worth USD$94000 again? if ever!
thanks.
The truth replied on Wednesday, March 18, 2009 03:37 AM
simplest thing is don't invest in DHA, it is no more profitable. Go for a society on Canal road. That's where every one is making money now-a days. I dont know why these dealers are still pushing for the DHA property because for the past 3 years it has done nothing but destroy peoples confidence. Even if the rates rise due to the CJ restoration, in DHA only your transfer=commission expences and a few las profit will be covered but on Canal road people have nearly doubled there investments. |
ZB replied on Wednesday, March 18, 2009 04:07 AM
Your investment was in a right place but in a wrong time. You have to wait minimum 3 three to have your lose recovered and perhaps a little profit as well. |
Reason replied on Wednesday, March 18, 2009 04:42 AM
You loss is due to rupee losing value. If I had bought canadian $ when it was equal to US $ I would alsho have lost similar kind of money. You can start currency trading. But no guranteed gain there. You can lose there too through foolishness or bad luck. |
SaeedIslamabad replied on Wednesday, March 18, 2009 05:13 AM
to be honest i dont understand why overseas pakistanis do investment in pakistani property. Historically rupees is always on the down-side. therefore, best investment for overseas pakistanis is to keep the savings with them in foreign currency until they plan to come back; or unless they invest only in developed societies where they do the construction right away and put it on rent.
if you want to purchase land only then u will LOSE in the long run no matter if the society is developed or not.
i would like some feedback from others who only invested in land from overseas ... to know how much they have gained or lost due to rupee loosing against the foreign curriencies.
REgards |
CMY replied on Wednesday, March 18, 2009 05:17 AM
Suliman sahib If you had invested $94000 in USA real estate you would be sitting at 35% to 40% loss today. You would only have $56400 to $61100 left in your hands today due to heavy losses in past 2 years in USA real estate investments. You will today have only Rs 45 lacs to 49 lacs in Pak currency.
But keep in mind today lowest priced DHA 6 "B" block plot is worth about Rs 57 lacs. I don't know the location you have with you but I dont think you are sitting at any losses.
If you kept money in $ in your US bank than you must have more money than you have today. But If we all knew clearly future gains we all will be billionaire's. We take some chances some times we are right some times we are wrong. Don't kill yourself THAT I did investment here in past I would have/had more returns/gains. Forget about past think about future now.
Ch Mujahid Yasin ( CMY )
042-111-111-040
0322-4009967 |
SaeedIslamabad replied on Wednesday, March 18, 2009 05:42 AM
yes never REGRET about any decision u ever made in ur life. no one intentionally take wrong decisions. so whatever u decided at certain point in time it was a BEST decision possible keeping in view the circumstances at that time. Later-on if u lose or benfit is all from Allah Subhanwatala.
i also read it somewhere that a Good Mulsim never regret about his/her decisions (of-course if made in a good faith). |
A.M.BUTT(majeed_ajk@hotma replied on Wednesday, March 18, 2009 06:12 AM
Mr Suleman.
Please keep this plot with you for three years i will buy this plot in USD$ 94,000 if i did alive.Better write your personal address and plot number to me on my e-mail address.Otherwise read carefully and (by the sake of "God") do belive of CMY advices.He is professional honest property business man.
2nd thig i want share with my friend that donot try to do the calculation immidiatly in real stat business this is not with any hand it is effecing by globle economy.
Ido not under stand how people are deciding after buying one plot"don't invest in DHA, it is no more profitable"DHA is secure investment after CDA. |
Abdul Razzaq replied on Wednesday, March 18, 2009 11:03 AM
Suleman Sahib,
Read carefully CMY's comments that will make you cool. You are not only in loss there many hundreds which similar story. But trust me keep your plot for sometime Inshallah you will recover your losses. Don’t even think to sell it otherwise you will commit another mistake.
Abdul Razzaq
Riyadh |
