This reply is for post #74464 by Abid (in case i get error in posting)
Many people have expressed this complaint on this site before. Interestingly in each case the purchase timing is early 2008 or a little before. You said 4.5 years ago, 4.5 years ago the date was March 11, 2008. Price of dollar on that date was Rs 62.45, immediately after that the price of dollar shot up. On October 20, 2008 the price was Rs 82.95. This is 32% gain in just 7 months and 9 days. This graph will show you what I am talking about: http://en.wikipedia.org/wiki/File:USD-PKR_Exchange.JPG
I am not saying property is always better than dollar. It is all about timing of purchase and location of plot. Just like property cannot make you rich overnight anymore neither can dollar. We are probably not going to see 32% rise in dollar in just 7 months again.
You can check foreign currency rate on any past date of your choice at this address: http://www.oanda.com/currency/historical-rates/
ASDM replied on Tuesday, September 11, 2012 11:24 PM
I bought a 10 marla plot for Rs.20Lakh = US$40k in 2005 in Parkvew.
Now I have been alloted a plot in phase-7 worths now 18lakh = US$19K
After 7 Years so far my total Loss is US$21K.
Regards,
ASDM |
Javed replied on Wednesday, September 12, 2012 03:10 AM
Dear ASDM, that was a file not a plot. At present 10 marla plot at parkview is about 55 lac, equivalent to US$ 58K (approx) |
aliakee replied on Wednesday, September 12, 2012 05:16 AM
@Javed, what is the difference between file and plot ? because file also tells us the owner of plot, once development charges is compelete,a person become owner.what do you say ?could you elaborate it more ? |
Abid replied on Wednesday, September 12, 2012 05:38 AM
Attn: MAS,Jameel, Habib (Sir)
Aah ko chahiye ek umr asar honey tak
Koun jeeta hai teri zulf ke sir hone tak |
jk replied on Wednesday, September 12, 2012 05:53 AM
Too genius are never satisfied and keeping using calculator,
Just enjoy life and remain thankful to Almighty Allah. Invest on your kids education and after that in real estate. It will never get wasted. |
JUJ replied on Wednesday, September 12, 2012 06:25 AM
Dear ASDAM, Alhamdo-lillah, allah ka lakh lakh shukar hai, I started same way Parkview 10 Mrla in 2002 at 15lakh (~40K USD). Later converted to C-ext plot in 2007. Sold last month in 2012 at 50Lakh (gain of nearly 6k USD, not much but at least al-hamdolillah no loss). So qismat is also a big player - do not forget. |
ZM replied on Wednesday, September 12, 2012 11:06 AM
I would suggest to compare apples with apples, don't waste time in comparing money with land. |
url replied on Wednesday, September 12, 2012 01:30 PM
ZM jee, What does that mean? People are talking about different investment options (land, house, $, etc) in monetary terms. How is that not an apple to apple comparison? |
Aamir replied on Wednesday, September 12, 2012 01:46 PM
Only two reasons to above mentioned ambiguity; LOCATION & TIMINGS |
SI replied on Wednesday, September 12, 2012 03:59 PM
@ Mr. Habib
As per my knowledge Gulberg was sold for Rs. 300/marla in 1960 by Lahore Improvement Trust, which lateron converted to LDA. I salute the vision of the Town Planner by providing three lane one way double roads with green belt in between alongwith service roads on both sides, even after 52 yrs. no road has been designed in Lahore to match it. |
dollarman replied on Thursday, September 13, 2012 06:14 AM
@JUJ sorry but the fact is are still in loss ... as you did not consider the intrest the bank gives you over 10 years on dollar accounts ... even if you don't want intrest you would have invested this amount some where ... so the rule is for the past few years $ is the king! |
JUJ replied on Thursday, September 13, 2012 10:22 AM
Dear $man, come to think of it, you are right. |
LRE Hot Topics replied on Sunday, September 16, 2012 07:44 AM
Post added to useful posts list. View MORE Useful Posts Click on >>> LRE Hot Topics |
