AA,
First of all, Thanks to CMY for his efforts. Especially an excellant resource for overseas Pakistanis. I came across this website by chance and I am very impressed.
Any idea when the balloting and development of DHA Lahore Phase 9/10 is expected. Is this the right investment for someone overseas looking at 5-10 year plan?
Or any other suggestions.
Regards
Salman
Allah rakha replied on Saturday, March 20, 2010 07:05 PM
yes it will be great investment for 5 to 10 years.cmy told may be balloting of phase 9,10 after two years and after 5 years it will be liviable place.second option in my view is dhai phase2 ext.in this money u can buy 2 files there and it is also 5 to 10 years investment.rest my ALLAH knows better |
Muhammad Saad replied on Saturday, March 20, 2010 08:01 PM
I also have this question. I already own a file in Phase 9/10 which I bought for 21.25 lacs and now current prices are 14.15 or somewhere around it.
My question is that is it wise to buy another file in DHA Phase 9/10? The thing which worry me more about phase 9/10 is that it is so big which means that there would be so many plots available once developed and prices would not go up as much. This is just my opinion and I am not an expert in property business.
These days the real estate market is too risk and even the future is not looking bright. The experts however can tell you better. |
Allah rakha replied on Saturday, March 20, 2010 08:45 PM
i think saad sahib if u have money u should buy one more file at less rate it will compensate ur lose.in dubai people have lot of lose in stock markete.people bought high rates share of markete for example emaar properties many people bought one share in 30 dirham now emaar shares have come at 1.50 dirham i mean in one and half dirhams in this way they have lot of lose where 30 dirhams and where one and half dirhams now same people buy emaar properties share in 1.50 dirhams in this way they r compensating their lose and shares r going up.many peoples r doing daily business as share come little down people buy and as share goes little up people immediatly sales the shares.in this way they r earning handsome money daily.did u understand what i want to say.now a day realestate markete is not risky only in pakistan but all over the world.property is long term investment minimum 5 to 10 years.ur native house which ur father had made what is the price now of that house and what were the price at that time before 15,20 years ago so buy now if u have money for investment and be patient |
Salman replied on Sunday, March 21, 2010 02:30 PM
Thanks Mr Allah Rakha for your reply.
Many people in this forum have shown concerns about DHAI phase 2 ext.
How real are these concerns? is it a risky investment?
Also I have noticed certificate files for sale for phase 2 ext? What does certificate file mean? and what other charges do you usually have to pay on top of these files?
Thanks for the help. |
Muhammad Saad replied on Sunday, March 21, 2010 08:02 PM
Thanks Allah Rakha for your reply. I really appreciate it.
Yes, I got your point and I agree with you. Currently the property prices are a bit down and it is a buying market at the moment. However I am having doubt because the big area of Phase 9/10 which almost as big as 8 phases in total.
Another problem with DHA is the increase transfer fee of almost 3 lac (including membership and all) which makes the current file 17.15 lacs for the buyer.
Anyways, phase 9/10 is still an option in my mind and this is why I did not invest in Phase 8. These days I am also interested in a plot which has good location for making house in couple of years time. However that I have to do later i.e. somewhere in July.
I would really appreciate if CMY can also comment on this. I would also try to call him. |
Muhammad Saad replied on Sunday, March 21, 2010 08:24 PM
I am holding my decision at the moment because I want to see that what would happen after the balloting result of Phase 8. Trying to learn from experience :-)
I have just started to take interest into such investment opportunities before I was sleeping. So I want to learn from experience. |
Muhammad Saad replied on Monday, March 22, 2010 05:34 AM
I forgot to mention about your example of my father making a house and it's current price. Yes, you are right that the current price is way higher than what he spent at that time but this is not only because of increase in property prices in that area but it has to do with the inflation. The inflation has to do with dollar conversion rate as well. When he made the house the dollar was 12~13 rupees whereas at the moment the dollar is more than 85 ruppees. This has also contributed alot.
If I consider this inflation and dollar conversion factor then the increase in property prices becomes way less significant as it is looking now. |
Muhammad Saad replied on Monday, March 22, 2010 05:48 PM
You are making good point but there is another problem which was not there when my father made the house. I was not able to convery my point earlier which I was trying to make.
The point I was trying to make is very obvious from the example you quoted.
Your mom was earning 500 per month and she bought a plot for 3000 which means that if she save here salary 100% each month then she can buy plot in 6 months. Mind you that the salary of a teacher (500) was below average at that time and still she can afford a plot.
Now take you wife salary as example which is 1 lac per month. This is above average salary and still it would take her 30 months to buy a plot.
So inflation has raises much more than the salaries. It is not that property has risen more rather it is the inflation which has raises more and salaries are not compensated according. It has become difficult for average people to buy plot or build home. If a person who has a good salary of 1 Lac (majority done have this salary) even he would take 30 months to buy a plot even if he saves every single paisa he receive. In Pakistan people are under paid.
I hope that my point is clear to you now. |
