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

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   Asif Sardar
Wednesday, July 21, 2010 04:33 AM 
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Dear LRE team and all others,

I have been watching since long and come to the point that Real estate became only a business and investment opportunities for Rich people. However it is still a Basic need for poors.
All of us dreaming for higher and higher life style and what about the dreams of those who still live in slums?

DHA , Bahriya, Divine etc all are working to materialize dreams of Riches, do anybody cater about poors?

90% people on this forum seek advices for investment and good returns, and most of them are living abroad and having 3 -4 plots in Pakistan… Kia yaa ZAKEERA ANDOZI nahi ha??

Please let me inform if there is anything for a lower middle class sector?
Can a middleclass person buy a standard/average sized flat or home in Pakistan of value 10-20 lacs on installments???
Asif Sardar replied on Wednesday, July 21, 2010 04:35 AM 

Please let me inform if there is anything for a lower middle class sector.
Can a middleclass person buy a standard/average sized flat or home in Pakistan of value 10-20 lacs on installments???
Ali2012 replied on Wednesday, July 21, 2010 04:42 AM 

@ Asif Sardar

I agree with you fully and sadly there is no limit of greed here.

We are still not a nation yet instead we are just a crowd.
Dear replied on Wednesday, July 21, 2010 05:05 AM 

Brothers you are really under estimating local investors. Foreign pakistanis keep the investment for long term so that when they come back they can make a home. Real Crocodiles are in Pakistan. Mr. CMY can give an opinion on this. I know couple of such investors their investment is so big that they can manupulate the prices of any sector in Pakistan. The rule of Big fish eats the small fish still applies. Quran says "He installs the same rulers as are the people". jaisay Awam Waisey Hukmraan. That includes oversees pakistanis also. 5 % of the people are enjoying their lives on the grave yard of remaining 95 % population.
Dr.Daniyal replied on Wednesday, July 21, 2010 05:54 AM 

CMY Sb,
I always held you in high esteem,a man with a vision.Keep it up
SK replied on Wednesday, July 21, 2010 06:54 AM 

Another issue with Pakistan Real Estate is that people are allowed keep plots for years without building.

For example, in Australia if you purchase a plot you have to build a house within two years (no ifs or buts). Not only that creates jobs, it keeps the house prices in check.

I believe this is what we urgently need in Pakistan.

Currently, real estate is making rich people richer and middle class having any no real chance to ever own home.
Asif Sardar replied on Wednesday, July 21, 2010 06:56 AM 

Dear CMY,

I really appreciate your thinking and pray for your future goals of providing house to low income people. May Allah give success to your all upcoming projects. Ameen.

Please also ensure to issue only 1 house/plot to ONLY 1 person and that person shall not entitle to buy 2nd house in same scheme for low income people. Otherwise again the investors and real-estate drivers will change the scenario, and the real purpose of scheme will be expired.

I have a suggestion: please check the feasibility/option of low cost Flat system like In Singapore, Dubai and Europe. 10-15 storey building with 50+ flats init.
Single flat comes with 1-2 master bed rooms and 1-2- common rooms of average size, plus a small kitchen, combine bath and a living room.
Daniyal replied on Wednesday, July 21, 2010 06:58 AM 

@Asif Sardar,
Asif Sb,
It is the responsibility of the State to look after its citizens and their basic needs.In Europe and other countries the state ensures that all the needs of their people are met.Pakistan is a very resourceful country of intelligent people.Its only bad planning,corruption and self interests that have brought us to this stage.If only the Govt plans on the basis of Public-Private Partnership they can cater the needs of its citizens.In my personel opinion, the Govt should provide the state land FREE for construction of multi storey appartments/flats,since WE CANNT INCREASE THE LAND OF PAKISTAN Viz-i-Viz to our ever growing population.Should allow the private sector to construct flats over it,with a strict control over price,quality and profit,with all the basic facilities and provide it on installments to the lower income groups.Payment to be made over 10yrs time after possesion.
To discourage property sharks and investor mafia,these units should be non tranferable for 10yrs and only people with lower income groups should be allowed to apply.We should keep in mind that 55% of our population is falling into that bracket.
As a working example 4-5 marla flat should cost maximum 14-15 lac.With an initial deposit of 10% the rest of the price could be paid over 10yrs.
What we need is a vision,and commitment to do so.and obviously RIGHT MAN FOR THE RIGHT JOB.
Asif Sardar replied on Wednesday, July 21, 2010 08:05 AM 

Dear Dr. Daniyal,

I 100% agree your points and I tell u; Govt. will not do anything on it.---Govt. Officials are personally involved in Land mafia and this Property investment system. I will not declare the name but I have a list of some officials with their property assets in Lahore and Islamabad.
In this scenario ; We can expect only form Private Sectors, as Private sector can effectively implement rules in their schemes and can control property dynamics and sharks. I believe CMY and his team can develop such a system and can control the dynamics at least in their own housing scheme
Foreigners replied on Wednesday, July 21, 2010 11:11 AM 

Greetings to every one,

Dear Asif Sb,

1- What is the guaranty if private sector involve that Big Fish (like Mr. 10 %) will not disturb private sector.

Think it seriously?? Do you have any answer?

2- Foreigners already playing big role in economy & its useless to blame them. You can’t imagine how much difficult their life,
Habib replied on Wednesday, July 21, 2010 11:11 AM 

I think most of us are analyzing in negetive way
Realestae and gold is interest of the people who have surplus money , Most of Such people in pak are overseas. Overseas pakisni are enthuzistic people who otherwise belong to lower middle or poor class Familes. Once they have lots of money abroad still they spend minimum, I know many people in Gulf who are saving about 70 to 90% of their income. Their standard of living is far below the people living in Pakistan, mostly they are living in shared houses and rooms.
On the other hand when they return to Pak they have surplus money most of this money goes to realestae sector. It being free of botheration and realitively safe investment. This special appetie of of overseas people have great impact on realesate price in pakistan.
In other countries realesate is dependent on the Mortage rates. If bank rates are low more people take Bank loan and get houses,
Bottom line is, be it Pakistan, UK or Canada, to own a house is minimum 20,30 years business for a lower middle or poor person. Most of mortages of houses in Europe and America are typically 20 to 30 years.
Golf replied on Wednesday, July 21, 2010 11:28 AM 

Dear Habib,

Please Mr. Habib come & see our living style in Saudi Arabia, I know a no. of friends they have independent flats not as you mention.
We work late night or over time & you childern are getting better education.
But may you know some your relative are doing in Golf but not all.

Please do not hurt others,

Thanks
Golf replied on Wednesday, July 21, 2010 11:30 AM 

Sorry spell mistake,


Dear Habib,

Please Mr. Habib come & see our living style in Saudi Arabia, I know a no. of friends they have independent flats not as you mention.
We work late night or over time & you childern are getting better education.
But may you know some your relative are doing in Golf but not all.

Please do not hurt others,

Thanks
Khan replied on Wednesday, July 21, 2010 12:14 PM 

I think Mr Habib is talking about the living style of Indians and not Pakistanis.
TZK replied on Wednesday, July 21, 2010 12:18 PM 

CMY: Good Luck and God Bless you. I will be one of your clients InshaAllah
tzk replied on Wednesday, July 21, 2010 12:27 PM 

i agree with khan. Habib has no idea how we pakistanis live abroad and hardly save any money. CMY being an ex-overseas will know very well. Habib there is a huge difference between paksiatnis and indians living abroad. Indian saves most while paksitani spends all before next pay check
Kaka replied on Thursday, July 22, 2010 03:29 AM 

Dear GOLF how your children are gettig better education in KSA, when there is NO better education in KSA?
How may childern, natively Pakistani, became doctor/engineer in KSA?
Your childern are your future when they can not get standard education then rest of things are fruitless.
NASIR replied on Thursday, July 22, 2010 04:18 AM 

DEAR CMY

I aapreciate your possitive approach for low budget pakistanies.keep it up.I will be the buyer also.

May Allah help you in your goal
Habib replied on Thursday, July 22, 2010 06:44 AM 

Dear Golf etc, I am here in UAE for 2 decades and and telling you after seeing Hundreds of People. Rents are 10 Times cheaper in Saudi here in Abu Dhabi 3 bed Flat in 15 years old Buliding is 200 to 250K Dirhams Like 60 Lacs Pakistani per years.
People who are getting Flats from Govt Like Baldia defence Etc are also giving on rent room by Room to make money somtimes making Partitions, One room rent is about 8 lac per years. I Think in this money one can get two Flats in Riayad.
Golf replied on Thursday, July 22, 2010 07:05 AM 

Dear Kaka Jee, my children are getting education in KSA, Thank God they are getting education in LUMS & Austrila.
I agree with you, our children are our future, so we should give them better education like our Geat Parents.

Dear Habib jee, if you are talking about Dubai,may be you are right OR you are a part of them but you can not involve / blame all foreighers. but in KSA only great indians are living.
Kaka replied on Thursday, July 22, 2010 07:49 AM 

So you (Golf) professed your mistake that one's children can get better educaiton in KSA but in LUMS or Australia.
Golf replied on Thursday, July 22, 2010 09:31 AM 

Dear Kaka jee, I can not suggest to any one where is education is better in KSA , Lums or Austrila & it depends upon opportunity, but for my child i feel Lums is better for one child & Austrila is better for 2nd child. May be you are not agree.

Saudi Govt also investing a lot of money on education but I have no idea but some india are getting education from King Fahad University Al - Khobar.
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