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

(52604)
Wednesday, April 22, 2009 04:39 AM 

I am going to buy a Plot in Formanites housing scheme, but people ahve different opinion about the scheme. Some said that it is a fake scheme and it is not good to buy a plot etc. Can sum body suggest me about this.

Always on your side replied on Wednesday, April 22, 2009 04:50 AM 

Jehanzaib why would you buy a plot in a scheme that have not laid a brick in last two three years?

Waqar Latif replied on Wednesday, April 22, 2009 05:37 AM 

@TS

Above's point is fine that why you gonna buy a plot, in a society, whose owner haven't done any new development since 3 years, the point of view of the owner is that, when people start living in this society the development will also be start (I am failed to get it, when you already got the price from the people for the land, and if you start development you gonna take money from the buyers, then what is the point to not to do any development? May be he is expecting higher development charges to remaining people). Any how, if you buy a plot in developed area & you have possession then it is good, but still i don't know when the main road (going toward forminities) going to develop, unless you have cheap type verical. Gas factor is also a point like there is a society (Architect) and there is a society Nasheman Iqbal, both are adjusent, but the rates in nasheman iqbal for 1 K is around 40+ and Architect around 30+ (apart from both has small roads) similarly you can compare NFC and Tariq Garden rates as well. Any how, no doubt plots are cheap, ring road will be pretty close, & developed area is pretty good to live (still no houses, may be because of the access).

Best thing would be visit that society yourself.

Ps: I am no property dealer, just sharing my research with you, also this society is not fake, just LDA approved some plots while they launched more then the limit

Ahmed replied on Wednesday, April 22, 2009 05:39 AM 

In addition to the above, if i remember on the same forum there were lots of discussions on litigation problems (may be i am wrong). Search this forum and enlighten yourself before making a decesion.

Jehanzaib replied on Wednesday, April 22, 2009 05:52 AM 

Thanks a lot Mr Waqar Latif,

I visited the society twice and found that sewrage and gas work is completed in some blocks. The issue of main road is yet to be solved but DHA V and VI are planned in the surroundings of the society. The basic issue is of genuinity of the scheme. But what if we see the LDA Approved map and then do the purcahsing? It is sure that there will be development in near future.

Always on your side replied on Wednesday, April 22, 2009 11:15 AM 

Jehanzaib sahib LDA approved map have less than 800 kanal land (Owners told LDA they have only 800 kanals land) BUT owners have sold more than 8000 files for this scheme.

Where do you think all land will come from? DHA Lahore have taken all the land in this area for DHA 9-10.

Sarwar replied on Thursday, April 23, 2009 02:25 AM 

'Always on your side'
mr. you should go to formanites's office to see all documents related to land and go on ground. for your kind information 1190 kanal approved already by LDA now 2nd phase has already submitted to LDA for approval.I am not lover of this formanites but reality is this that development is there on all 1190 kanals. REST ALLAH BETTER KNOW.
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