Khan replied on Monday, February 22, 2010 02:35 PM
Dear Mr. Khalid,
I can support the idea to keep money in the Islami or Meezan Bank to get the monthly profit on your investment. Your idea for rental commercial property is very fine but it was in the past. Nowadays people prefer to keep money in Islami Banks to get monthly guaranteed return. The com. peroperty is not giving now good return.
The example is that if you get an office in Siddiq Trad Centre (1200 sft ) with 1 crore you will get the rent maximum 55-60 thousand per month. When it becomes vacant you have to pay Rs. 30000 PM as services charges even it is closed for 6 months. Companies are getting the office on rent with one year lease but leaving any time with one month notice. You can find many offices are available for rent in Gulberg in low rent. If you invest 1 crore, at least you should get return around 80000 pm. In Islami Bank is possible but in rental of com. property is not. That is why now people prefer to put their money there and fed up with the property. Some people have given their houses on rent but are unable to get back from the tenants and cases are in the courts for long time.
I came from abroad and have also invested in com. property but not getting the good rent compared to Banks profit. Now I am thinking to sell it and put the money in Bank but no good price is offered. Anyway, money is yours and you have to decide finally, however you can get views of others as well and then decide.I wish you have good return of your investment.
Regards |
