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Want to Buy - 05 Marla constructed home,

(64752)
   Humayun
Monday, May 2, 2011 03:11 AM 
Reply: >
Dear Visitors,

I would like to buy a 05 Marla constructed house in the following areas, with the following order of preference:

1) Habib Homes Peco Rd Lahore
2) Wapda Town
3) Johar Town - J,R blocks
4) Valencia Town
5) Jubilee Town
6) NFC - 1
7) Architect Town
8) please suggest more places

Please inform / quote prices for both single story / double story homes and directly post or email to me.
Habib replied on Monday, May 2, 2011 03:50 AM 

If you want to buy one house dont Confuse yourself, I Like you know many option each time I goto Pakistan for one month or so, I try to survey between the option and at least one week is lost then confusion and discussion another one week Fuinally there is not enough time to complete a purchase.
I Think if you need immediate home then go for a populated area with good roads and all facilities arround Like Johar town. Take into account high fuel prices and impending shortage to fuel in Pakistan. Today we have not enogh fuel for electric generation due to cyclic debt and in Coming days if similar mismanagement continues then a stage can come that you dont have petrol even on fuel stations.

If you think you will need house in few years then better buy in the area that is not yet Packed Like WAPDA/valancia. The logic is in 5 to 10 ys the already populated areas will be Packed and there will be still new houses in option 2 and 4
If you think you may not use house for Long time then i would advise you to buy only two or 3 plots. As this will be difficult to manage the house if you are living abroad.
My own suugestion is if you go for 5 mela plots say in Jubilee Town it is also a good option as there is not much tax on small plots and resale is easier and gain is more.
Humayun replied on Monday, May 2, 2011 04:08 AM 

Habib, thanks for your suggestions. Please tell me what are current price range of homes as per my list. I have to arrange money, so would like to have the current price range.
Habib replied on Monday, May 2, 2011 06:43 AM 

Johar Town R 41,42 New, old 5 lac less. A Block Old house in 40
WAPDA town 5 merla same price new 40,41 old realitvely less used in 35 to 38
Valancia In Valancia homes same price Like 40,41, elsewhere in Valancia may be 5 Lac less.
NFC there are not many 5 Merla Houses price is like valancia.
Archtect and Habib homes I am not sure.
There is another option Oposite Faisal Town A Block Behid Johar envent Complex These are private Bilders Exact name I dont recall, They are selling New houses on Installments in 55 and old Houses in resale may be there in 45, It is small comlex very centrally loacted but have bit narrow access road,
You may see BOR also in same area very centrally Located area
DHA phase 3 Old well built House may be found in 48 to 50.
In short in 40 Lac Budget You can find 5 Merla used well maintined house any where in Lahore. see your area of Choice.
thanks replied on Monday, May 2, 2011 07:44 AM 

very informative, appreciate your time.
Humayun replied on Monday, May 2, 2011 08:07 AM 

Thanks for your time and information. I have increased my budget to 30K. To tell you truth, my requirement is to buy a 05 marla house within this range - i want to be close to college road or peco road.
I can even opt for single storey house and later construct as the life permits. Please guide.
JU replied on Monday, May 2, 2011 11:25 AM 

Try UET. College Raod passes through UET.
reards
Daud replied on Monday, May 2, 2011 12:02 PM 

AOA, try military accounts, 4 marla,8 marla, plots and u can construct a nice one,as i do property work in tht area its not at all a bad option.
constructed home can also be found in that area.
LRE Hot Topics replied on Monday, May 2, 2011 12:48 PM 

Post added to useful posts list. View MORE Useful Posts Click on >>> LRE Hot Topics
Mohsin replied on Monday, May 2, 2011 01:49 PM 

@ Habib

I am quoting what you just said:

"Johar Town R 41,42 New, old 5 lac less. A Block Old house in 40
WAPDA town 5 merla same price new 40,41 old realitvely less used in 35 to 38"

Brother you are mentioning a price (Johar town R 41,42 new and same for wapda town ) which is even less than the total cost that a builder spends for a 5 Marla(Good/excellent location) well finished home using A grade material (remembr what I am saying! A GRADE MATERIAL), since I am a builder myself and my current projects are under construction in Johar town R1 block (per marla price of plot in R1 is highest as compared to other blocks of Johar towns consisting of 5 marla plots), I would'nt mention here what would be the total approximate cost in which I will finish a 5 marla house, you should physically visit yourself the location and analyse the cost.

And let me tell you that just 10 days before a very well known builder in wapda town sold his newly constructed house in g3 block at 40 ft road in 57 Lacs(I know this because this deal was made by my dealer)! now compare this with your mentioned price range, in 40 41 you won't even get an old 5 marla house in g5 block of wapda town!

If you want to know the construction cost of 5 marla house (A/A+ grade construction only)then you can contact me :)

Regards!
Zafar replied on Monday, May 2, 2011 03:58 PM 

I hv new house 5mrla in J2 Block, Johar town lahore for sale. Demad 56lacs. This is new house with 5beds 6 bath 2 kitchen 2 tv lounge. fully marbld
HAMZA USMAN replied on Monday, May 2, 2011 04:17 PM 

Dear Brothers
I will be very thankful if anybody can tell me the estimated construction cost of 5 marla double story house,and what are the 5 Marla
plot rates in Johar town J- block or R-block.

THANKS
Jameel replied on Monday, May 2, 2011 07:12 PM 

Mr Mohsin is right that if we buy a plot in Johar Town 5 Merla it is not less than 22 lac and to Build a house you need another 25 Lac and then Bulider also wants 10 to 15% profit, This is regarding A Class houses, But that is also true there are certain houses made one or two ys ago and not yet sold these are available at substantial discount, when I was buying a house in Model Town ext dealer showed me house in revenue society it was 7.5 merla Corner House, Brand new with five beds and beautiful elevation and make up, In 2009 soon after completion the demand was 68 Lac, In early 2011 it was available even in 58 Lac. To me it was shock. I am not sure that still it is sold or not.
Forget about profit I am sure I cant make such house in this price after buying the Land, The only thing owners are selling that their money is Blocked and they bought plots in Past in very low price and hence they have good margin.
Now a days after slowing of business many people are leaving houses incomplete and trying to sell like that.
Humayun replied on Tuesday, May 3, 2011 02:57 AM 

@ Mohsin - I think Mr. Habib was describing the rates in general or should better be described as a mean rate. But the price seems to be at aweful heights and I feel for those people (incl. myself) who havent had much property to sell out or other source of income to be able to collect so much of amount. I am extremely amazed that people are still able to spend 60 lacs on 05 marla house in this recession period, when property prices are generally down.
@ Jameel - It would be of great help to all of us if you throw more light upon the construction rate that you have already described. It appears that in order to construct a grade-A 05 Marla double storey home - you require PKR 2.8 Millions. If possible, let us discuss on the break-up of associated costs.
For Mr. Zafar replied on Tuesday, May 3, 2011 06:34 AM 

dear Zafar why u live in dream by asking 5 marla in 56 lacs. 7.5 marlas are available in this pirce. my deal was confirm with owner in G 1 block at 50 lacs but subquently cancel as some documents short and i was not willing. I seen many houses with and withut dealers in the range of 38 to 45 for brand new/slightly used depending upon location.
So asking of 56 lacs for 5 marla is not only highly unjustified but also rediclous. if u himself want to buy a house how much u can pay think this and then reply.
FAROOQ replied on Tuesday, May 3, 2011 11:29 AM 

I purchased 5 Marla new house in G3 Wapda Town, backside of a small Police Post & Wapda Water Tank in Nov, 2010 at a price of Rs 53 Lacs. The builder was so arrogant(attitude) and was not ready to reduce a single penny.I myself still feel that i paid more than its worth. It is DOUBLE STORY, 3 bed room house. I think in Wapda 5 Marla Plot Price is around 25-30 Lac, thats why house prices are more. Otherwise, you may get a 10 Marla Plot in Valancia by the same amount.
Habib replied on Wednesday, May 4, 2011 11:48 AM 

@ Farooq You are misled in wapds 10 merla plot in resonable distance from nalla on good Location is is 35 Lac I dont How much far this plot is from Nalla, I think some one misguided you that 5 Merla plot in WAPDA is 30 Lac,
As amtter of Fact I found on Kanal Plot in H3 in 35 Lac just 20 days Back But as it is facing nalla so I did not buy my interest was to Bulid school etc but later I dropped the idea.
Zafar replied on Thursday, May 5, 2011 05:27 PM 

My dear Brother I am not living in dream. Sorry to say u dont know the current position of property in Johar Town, For ur information 7.5M house is 75-80Lcs in good location. And 5m plot in J-2 Block is 26-27Lacs. How can any body get 5m house 38 to 45 Lacs. Above u r talking about G1 Block House. In G1 Block much dificult to get new 5m House there, bcoz not much plots left. If u get,it should be range of 56-58 with 4 beds. So plz do not give wrong information here. U should consult somebody in Johar Town.
Khan replied on Tuesday, April 10, 2012 06:21 AM 

Assalamu-ali-kum,
Dear Brothers hope u all r fine and doing grt.
This is realy informative forum, Please try not to fight here, the aim of this forum should be only information.If some one buy a plot or home in (let's say) 20 lacs and another one get it the same thing in 21 so what is wrong in that maby be he is new or doesnot have much information. so please here only give us information which can help others.
jazakallah
khan replied on Tuesday, April 10, 2012 06:24 AM 

Assalamu-ali-kum,

I am interested to buy home or plot of 10 marla in johar town. I need the suggestion for buying like which block is good and how much budget should i have to get the house there.
one last thing is there a way to get the finance from the bank.
i mean do the banks finance the houses in this town (johar town)
thanks for ur advice.
khan replied on Tuesday, April 10, 2012 06:26 AM 

Assalamu-ali-kum,

I am interested to buy home or plot of 10 marla in johar town. I need the suggestion for buying like which block is good and how much budget should i have to get the house there.
one last thing is there a way to get the finance from the bank.
i mean do the banks finance the houses in this town (johar town)
thanks for ur advice.
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