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

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   KSA
Wednesday, June 6, 2012 03:45 AM 
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Dear Brothers
I have a plot in plot in DHA PHASE 6 which i want to construct after 4 to 5 years as i am salaried person so i can save 100,000 RS monthly only as right now i kanal phase 6 construction (key hand over0) near about 95 lacs after 4 to 5 years its near abt 135 lacs which i can’t save in even 10 years. I can take loan 30 lacs from my company right now. Kindly suggest me what should i do with this 30 lacs if invest in property market then where so i can gain maximum profit in 4 to 5 years or convert in foreign currency.
Please help me with Ur suggestion to make decision easy.
aussie_expat replied on Wednesday, June 6, 2012 04:28 AM 

I can suggest u slowly start on construction after 1 or 2 years.
Another Expat replied on Wednesday, June 6, 2012 05:05 AM 

Focus on your orginal goal, i.e. construction of the house.
With loan from company and couple of years savings, you can construct ground floor of your house. Rest you can construct when you have further funds.

Investing in business or in savings has risk of not even getting your orginal value of the money. Besides you will lose focus from your original goal. Wishing you the best.
Question replied on Wednesday, June 6, 2012 06:16 AM 

With due respect, your saving does not seem enough even to maintain the expenses of one Kanal house in DHA, why don't you go for 10 marla!

I am having a monthly saving three times of you but still not confident enough to go for one Kanal house.

Just an advice!
Khan replied on Wednesday, June 6, 2012 06:49 AM 

Dear KSA,

Mr. Question has given you an option which can be achieved but Rs 30 lakh cannot be converted to 135 lakh by using any means of investment. I hope you understand.
uae replied on Wednesday, June 6, 2012 09:07 AM 

1 kanal is 4500 sq feet, if we consider 75% covered area then it is 3375 sq ft, considering 2000 rupees/sq ft construction cost you will be needing 6750000 rupees, you can get 3000000 from your company therefore you need 3750000 more to construct a single story house. that you can save in 3 years. but the construction cost will rise during that time, so start constructing with your available money and keep on construction with additional savings as you have them.
MAS replied on Wednesday, June 6, 2012 10:00 AM 

KSA ALREADY HAS 1 Kanal plot in phase 6. Why should he come down to 10 Marla? Phase 6 plot is a valuable asset for the future it should not be downgraded. If nothing else works he can make a small house leaving a big lawn.

I don't know the terms of your company loan but you can deposit it in bank for 10% profit. After two years it will be 36 lakhs and you will have saved 24 lakhs from salary for a total of 60 lakhs. Now you can start constructing a complete unit on ground floor. While the construction is going on you will save another 8 or 9 lakhs.

You can use this floor for personal living and save on rent or put it on rent may be at 25,000/- Your monthly savings will now be 125,000/- 4-5 years later you can complete the rest of the house. 1 lakh is enough to maintain a 1 kanal house. Proper money management can yield wonderful results. Now you can put upper floor on rent to help you return the 30 lakhs loan.
Pak@Dubai replied on Wednesday, June 6, 2012 10:26 AM 

Mr KSA:

1. do not sell your 1 kanal for 10 marla
2. do not take loan from company now. take when you want to construct. bcoz you will lose in rupee depreciation. Bank profit is less than depreciation value.
3. Try some personal loan option from KSA bank. so, 150k from your company and 150k from the bank. Build only single story.
4. I do not understand why it needs 100k/m to maintain 1-kanal house. house Maid for cleaning and laundry will cost 4000rps. else all are utilities, etc.
MAS replied on Wednesday, June 6, 2012 03:46 PM 

@Pak by "maintaining 1 Kanal house" I meant full and total monthly expenses of a family living in a 1 Kanal house which would include potentially higher heating/cooling/cleaning/gardening bills as compared to 10 marla. I was responding to Question's comment where he said "your saving does not seem enough even to maintain the expenses of one Kanal house in DHA, why don't you go for 10 marla!"
adnan replied on Wednesday, June 6, 2012 05:10 PM 

with 3 million today, you cant build anything on a 1 kanal plot, however, you can buy a phase 9 file or two plots in NFC phase2. Both these options may be around 6 million in three years time, then you can build a single storey house with that and some additional money from your saving. I was in the same position last year, and I decided not to build and rent a house, and buy plots instead, Now I have three plots and one phase 9 file. After three years, I hope to be in a position to build a two storey house comfortbly and might still be able to save one of the plots. do your numbers before you spend.
P.paki replied on Wednesday, June 6, 2012 06:11 PM 

Dear,
Go for graey structure for ground floor now. If u contruct 2000 sqft on ground floor now then rate is 800-1100/ sqft. So u can easily build grey structure and rest finishing u can do slowly. Like this u can save contruction appreciation in most part and u can finish home when u r ready to move in.
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