Asslam_O_Alaikum,
Hope all are doing well,i want to ask a question from all you people reading this ad.
Is there any Reliable society who is providing houses on installment,with a down payment of 1300000 to 1500000 with possession.and rest of amount can be paid in monthly installment from 50000 to 100000.
Since i am living abroad i want to send back my family and unfortunately i am one of those who are not blessed with the house anywhere in Allaha'World.
Hope to get a sincere reply.
May Allaha Help all of us to fulfill our right desires.
Muft Mashwara replied on Saturday, December 4, 2010 10:59 AM
It's better that you take loan from a bank in UEA and buy a constructed house with that loan. As the interest rate in UAE is much less than Pakistan. So istead of paying installment in Pakistan at high interest rate payback your loan in UAE with much convenience. I have done the same. |
Jameel replied on Saturday, December 4, 2010 04:16 PM
all the Bank in UAE can give you, Usual interest rate is 9 to 10 %. If You Go for 5,6 Merla house You might need only 110K Dhs+ 1.3 Million U have You will have to transfer Your Salary to that bank. And that I Think Max you can Pay back is 40% of your salary. If Your salary is 10,000 You can Pay Back easily in 2.5 ys. |
Muft Mashwara replied on Sunday, December 5, 2010 08:52 AM
Raheel Bhai ! I dont Know about UEA, But because the laws in all the Gulf states are approximately the same So I think The procedure of borrowing would be same in UEA as in Kuwait where I live. In Kuwait one can take loan up to 15 times of monthly income. The rate of interest is 3%+CBK discount rate per Annum. Whereas discount rate in Kuwiat at present is 2.5% and in Pakistan it is 13 or perhaps 14%. If you contact with your Bank In UEA and you are a salaried employee they will give you details about the documents you need and the rate of interest in UEA. In Kuwait I had to pay only about5.5% interest yearly and I took a loan of about 70,00,000/-- Pakistani Rupees. I had to go just once to my Bank to sighn the Papers and next day the money was in my hand. |
