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(53525)
Saturday, June 20, 2009 08:06 PM 

I noticed something interesting in the budget numbers. The total size of 1997 budget was 552 billion rupees and for this year it was 2479 billion.

so it grew by a factor of about 4.5. My home that was worth about 16 lac back then is worth 70-75 lacs now.

So, the growth factor is between 4.4 and 4.7...nearly matching the budget growth factor. I think this would apply to on the ground mature properties. Files\plots see better growth rates.

Habib replied on Sunday, June 21, 2009 07:36 AM 

Dear Observer Nice Observation But I dont know where your house is located Just To share with you
In 1997 My friend made a 10 Merla new house in Allama iqbal Town, He said it was worth 30 Lac, But as per my survey a 2,3 ys old house was 22 to 23 Lac at that time. Now I think similar House can be Bought in 3X price, Like 66 For Old and about 75 for new
Another realtive Bought 5 merla Double House in Johar Town in 1999 It was 3 years Old House in A Block Near Akbar Chowk Price was 17 lac. Similar House can be Boubht in 36 to 38 Lac Now So it is 2.2X
5 merla valancia homes in 1998 were 17 Lac each on Instaments. Today ready home was quoted in 36 Lac and on instalments in 39 Lac So 2.3X
In 1999 we bought 10 Merla single story house in WAPDA in 19 Lac and Now you can find Sigle story house in 45 to 50 Lac So it becomes 2.5X

limo replied on Sunday, June 21, 2009 10:01 AM 

Observer, as the size of the family increases, the budget increases, its as simple.But the most unfortunate part of recent budget is that as before, agriculture tax has been evaded again.A sector that contributes almost 23% in GDP, will remains out of the tax net.Why, because more than 50% of the arable land belonges to the landlords who have always been a part of our national assembly.In a recent interview, Shaukat Tareen admitted that had he tried to levy tax on this sector, he would have been martyred the next day.

sad replied on Monday, June 22, 2009 09:43 AM 

@Observer
What you have noticed is just a coincidence otherwise the percentage growth of the budget has got nothing to do with the escalating ratio of your property value.

@Limo
This class is just like paracites, suck whatever you can!But the fact remains that its only we who allow them to do so.
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