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Lahore Real Estate Forum: Property News & Community Talk : ,

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   Funny
Tuesday, April 10, 2012 09:20 PM 
Reply: >
Peoples on forum here were saying selling Phase 9 file at this stage is breaking fast [Roza torna] at Asar time.

Peoples should realize that if someone is buying at 30 lacs and development charges are 10-12 lacs.
so total cost wil be around 40 lac plus and no one knows when balloting is going to happens not near 2-3 years.

and in last two years dollar has reached from 65 to 92 and who knows what will happen in next 2-3 years if the curreny is going down very fast so looks like dollar will cross 100 in a year.

Is it make sense to buy a file on 30 lacs and we dont know future of phase 9 yet.
AHM replied on Wednesday, April 11, 2012 03:47 AM 

My 'Funny' friend, answer is in your question it self, development will be paid in installment after the balloting, you are paying 30 lacs in Pakistani Rupee not in Dollar, so your return will be in accordance with the prevailing currency rate.
JUJ replied on Wednesday, April 11, 2012 05:45 AM 

Angoor khattay hain :)
EjazAhmad, Dubai replied on Wednesday, April 11, 2012 08:28 AM 

AHM,

Why should an investor not consider depreciation of currency while making investment in property? All Pakisani have option to keep foreign currency account.If dlollar gets stronger ,for example, from current level against Pak Rupee, say from Rs 91 to 100 which possible due to our balance of payment problem, so this means you already lost 10% of your investment . Now if the Phase 9's rate does not increase more than 10% from cuuent level ,it will be a loss for the investor.

However, I think despite currency depreciation,phase 9 file will bring greater appreciation due shortage of houses in Pakistan. It is a demand supply situation.
jk replied on Wednesday, April 11, 2012 03:58 PM 

You call it funny but I say it is stupidity if 1K plot available @ 29 lacs, for a dream home for your self or for your kids. No one want you to buy if you don't like.

But I am fully convinced DHA-9 is best buy of market as today.
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