In the last 6 months the cost of construction has gone up about 30 to 40%.The cost of material like cement,iron,bricks have gone up , now the cost of daily simple laborer is Rs 500 perday,Mason Rs 800 perday plus. in view of this now it will be better to buy a built house then to build new. In Pakistan time has come when cost of plot is less then the cost of construction usually it used to be opposite.The prices of old house just building will go up sharply from Rs 300 to 400 per squarefoot to Rs 600 to 700 Per sqaure foot in Defence area. The average standard new construction is now Rs 1500 plus persquarefeet .Top finish is now Rs3000 per sqaurefoot.
ibraheem gilani replied on Thursday, December 2, 2010 04:00 PM
it is interesting to read" it is better to buy a built house" Do any Contractor put money from his own and sell the house at low rate.Surely he will use the material that will cost less to him. No contractor sell any thing at low |
shahid replied on Thursday, December 2, 2010 04:18 PM
i think mr ashref means old house |
iBraheem Gilani replied on Thursday, December 2, 2010 04:22 PM
Mr Ashraf .. i NEED SOME CLARiFiCATiON FROM YOUO ABOUT YOUR ViSiON OF AiR AVENUE AND PARC ViEW.. WHY YOU CONTiNUE SPREADiNG NEWS ABOUT DE MERGER AND .
WHAT iS YOUR SOURCE WHO GAVE YOU ALL iNFORMATiON
HOW MUCH YOU AWARE ABOUT THE SiTUATiON
YOUR COMMENT HURT THE EOMTiONS OF PPL WHO HAVE iNVESTMENTS iN THAT SOCiETY |
Ashraf replied on Thursday, December 2, 2010 04:28 PM
ibraheem gilani ; New built house by contractors prices will also go up because they will need now more money to build another house of simmillar quality.my view is that now the values of old house will sharply go up. in the past the old house (10 years and more) value is determined as below
1)Cost of plot at market rate.
+
2) Covered area x Rs 300 to 400 per squarefoot now it will be Rs600 to 700 per square foot.depending on the quality of construction and age of the building.. |
AHMAD replied on Thursday, December 2, 2010 05:50 PM
Mr Ashraf you are 100 % correct |
Jameel replied on Thursday, December 2, 2010 08:37 PM
Most of people in Hand are are looking for new Posh area, House prices in Old Localities also increases but at par with inflation only. Recently our Family member bought a well Built Double Story House in Faisal Town. The price they paid was 70 lac. It is 10 Merla House with 4 bed The price of Plot in This area is Confirmed 65 Lac, I am surprised about market Dynamics, It is impossible to Make Foundation of Such house in 5 Lac. I met the Neighborers the house on side was sold have in 2001 in 27 Lac it had 3 beds. Another house is better Built was sold in 2000 in 28 Lac, All of these Houses were 15 to 17 ys Old but well built. |
Kashif Chohan replied on Friday, December 3, 2010 12:50 AM
we must understand that while plot cost is normally appreciated during passage of time yet building cost will continue to depriciate.after 15 years a building is supposed to be fully depreciated with only salvage value left. Thus it has been said that investment is building is not good from financial prospective thats why a truly business man like to rent a house rather then purchase.The loss is depreciated value of building is partly covered through the rent you got from the same building. |
ashraf replied on Friday, December 3, 2010 02:09 AM
ibraheem gilani ; At present DHA-Air ave phase 8 all transfers of airavneue (not DHA allotment letters ) are on hold and no transfers is being done by DHA . DHA allotment letters transfers are being done but no posssesion .Good news is that things are being settled and hopefully in 2 to 3 months result will come out .what result????? i dont know. Parkview situation is more worst then air avenue as in some areas file holders are waitng for ballot, in some areas plot holders are waiting for possession etc.
please visit DHA office and talk to Secty DHA himself and gets all the clarifications. |
