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Price Estimate Required,

(63271)
Friday, February 11, 2011 05:19 PM 

Dear Friends,
I need your advise on the Current market price of a Single Story in Karim Block (Allama Iqbal Town, Lahore), built around 20 years ago. It is located next to Karim Block Market near Wahdat Road in 35 feet street.

Thank you very much for your support in advance.

Arshad Khokher replied on Friday, February 11, 2011 05:34 PM 

Plot size is equal to 10 Marla

overseas replied on Friday, February 11, 2011 06:59 PM 

50-55 lakh

Jameel replied on Saturday, February 12, 2011 05:40 AM 

It will depend on condition of House, You should try your best to Confirm the price of 10 Merla plot i think it must be about 50 to 52 Lac, If House is Very Good Condition ie Level is High and construction is good you can offer 5 to 8 lac more than Plot ptice. If House is already leveled Then you can offer only plot price.

M waqas replied on Saturday, February 12, 2011 05:49 AM 

AA.price 50-60lacs depending on plot location and house,road and surrounding house condition.plot level from road also complition from LDA.

Arshad Khokher replied on Saturday, February 12, 2011 07:11 AM 

Dear Friend,
Thank you for your information so far & I really appreciate it. What documents are required for transfer & how much it cost to transfer a 10 Marla house in Iqbal Town? How much does it take to complete the transfer? I live in Dubai, is it possible to transfer the house to my name without travelling to Pakistan. Mr. Waqas, what do you mean by complition from LDA?

Jameel replied on Saturday, February 12, 2011 09:56 AM 

Arshad sahib,you are telling without travelling? It cant be transferred even if you travel. I recently purchased a houses in LDA area, it took me 3 visits to pak,

First ask seller is it exemption plot or allotment plot? Exemption plot takes more time to get NOC and you should buy if you are dead sure that owner is reliable and this was dispute free.

Tell the seller to apply for NOC it will take about 3 months to get ready, They will Check following things.
Land acquisition collector record by LDA patwar Khan
Accounts report
Completion report by TP [Town planning] If Completion was not done dont buy the house or buy 2 lac less as LDA is charging a lot of fine for minor map violations
After all is done a NOC is given which takes about 2 months and many visits to LDA office with some bribe to expedite the procedure.

After NOC is obtained the owner can apply to LDA for transfer date
usually it is 2 weeks
once date comes you and seller should reach there and tranfer is done
Then you get transfer papers in few days time.

To get NOC is headache of seller, The only problem is when he has to do unexpected effort and spend money then some times he demands more money at the end. If you think seller is very reliable give him 5 Lac Biana and tell him to get NOC and appointment from LDA reach there 2 days before appointment you will be able to finish all in 2 weeks.
Transfer charges of 10 Merla house are about 1.7 Lac Pls Commission.

I will advise you to go for 2 story house you can easily find in 65 to 70 and once for all your problems will be soled, To Build 2nd story will be a big hassle not only for Construction but also LDA affairs.

Last advise is totally avoid a house purchase without NOC even if LDA officer agrees,

Arshad Khokher replied on Saturday, February 12, 2011 02:57 PM 

Dear Jameel Sb,
Thank you very much for your mail and detailed information about the transfer procedure. It looks that you also live in UAE. Is it possible for your to share your contact details with me at ?

LRE Hot Topics replied on Wednesday, March 23, 2011 06:54 PM 

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