Friends, I would like to invite comments on the CDA auctions. As you may know, CDA is having an auction on May 29 & 30. The residential ones are:
D-12/1: Plot # 1485.
D-12/4: # 468 and 469 (Both facing Margalla on 150’ double road)
G-10/2: # 58-69, 93, 94.
G-10/3: # 135, 166-169, 181.
I-16/4: # 1-7. (I guess on service road)
As a non-expert, I feel that the it offers a better opportunity than a normal purchase (PROVIDE YOU LOVE THE LOCATION) because:
A. The chances of fraud in the plot papers are Zero. I would be very hesitant to handover somebody one crore rupees or more and then hope that no problem will come up with the papers years down the road. May be this is just because I am not used to this business.
B. You will be trusted more whenever you are ready to sell because you would be the “Original Allottee”.
C. Chances of buying too much under or over current market price are slim, as in any open auction.
I want to know if there is any weight in these points or not.
Aamir replied on Tuesday, May 19, 2009 04:09 PM
"Fraudulent Free" is the most attractive aspect of this deal.
Rest budget, location etc are your personal choices. I will highly recommend if you can afford. |
Jabbar replied on Tuesday, May 19, 2009 04:39 PM
Just to share a thought...very often I have seen that prices in CDA auction are higher than the market prices. Reason that I came to know was that just before the auction, some big investors would buy plots in the area where plots are being auctioned. Then they will go in the auction and buy 1 plot at a higher price. This will then become the market price and hence they will make profit on their plots. |
Waseem Malik replied on Wednesday, May 20, 2009 02:32 PM
Jabbar this mechanism of price control won’t work at this particular time, when investors are not too anxious investing in real estate. |
