Hi All,
I purchased a DHA Phase 2 extension 1 kanal file an 2 years ago for around 11 lac, now I am hearing that the file prices have gone down alot, can you please let me know what is the current price of the file and is it pheasible to keep it for next few years or should I sell it.
your response will be highly appreciated.
Thanks
unknow adviser replied on Monday, March 7, 2011 10:12 PM
Hi Salukhan,
Well yes you are rite .... Prices of Dha Phase 2 Extension were dropped to 5.95lakhs couple of month ago. Reason because development charges for Phase 2 extension have been increased from 6 lakhs to 14 lakh which resulted in decrease in the value of the land.
But from last 3 weeks the prices are picking up because the management of DHA has been changed. It will go up in coming weeks ... my advice will be to keep files for another 2 years ... dotn sell it for the less of ur 30% of the Payment .. |
Azad K replied on Tuesday, March 8, 2011 12:17 AM
Property prices in Pakistan have gone up many fold since say 2000. It is a law of economics that prices cannot keeping going up at that level but in fact could stay flat or even decline in next several years.
I personally expect the property business to remain fairly flat over the next several years. Its ok to buy a plot with a view to building a house but for investment people shouldn't expect to make any quick and easy money.
There are many plots on the market and even more in the pipeline. Many families have already got extra plot or two for the future. Speculators and agents will try to excite people from time to time in order to make money but there is no point in rushing out to buy a plot. The developers know that price of plots is not going to increase in the next few years and are trying to increase development charges to fill their coffers. Many new schemes have been launched as opposed to being launched in the future as developers want to get peoples money as they know by delaying the launch by a few years will not help them as plot prices will not rise in the next few years at least. |
stn replied on Tuesday, March 8, 2011 06:34 AM
Mr.Azad k is right.But only in case of bigger cities like Lahore,Islamabad.But in smaller cities property is still on the rise.Specially Multan Propperty getting good rise in the last 3 years.Schemes like Wapda Town,Model town,shahshams,Sabzwari has given very good profit to the investors. |
Salukhan replied on Wednesday, March 9, 2011 05:12 AM
Thank you all the for advices I really appreciate it, ok so at least now I have the hope that in next few years there may be rise in the price, I am not in hurry and can keep it for next 5 years.
Thanks again |
