I am living on rent for the last 30 years, i am a salaried person, please let me know if there is any project without down-payment, where i can live and pay total cost as rent and one day become owner.
Zohaib sb, I can understand your situation. May Allah SWT help you in getting your own home.
However, I would like to say, here we don't get a house on rent without paying advance rent and security deposit, but you are thinking of getting home for residence without any upfront money?
Regards
Jee Mr. Khan, I get salary every month, so I am just fed up living on rent and would like to know if there is any option that they allow me to move in and pay total cost of house in installments just as I pay rent. I have been paying rent for 30 years, so if I pay lease one day property will become mine.
I think that would be a finance lease. In this case only a bank can help i think i.e. Mortgage, but you will have to pay interest on that.
Arshad sb, he could go for Islamic Home Finance
But still he will need some initial amount to pay...
Which city are you in?
If you are in Pindi/Islamabad region I can suggest that you go for Brixx Villa in Multi Orchards. They have instalment plan for very good 8 marla villas.
Down payment is only Rs 16 lakhs. But I think if you go and talk to them, they might give you a customised payment plan inshaAllah. After all they also have to sell. For them it makes not much difference if you pay 16 lakhs now or 8 lakhs now. But possession is not ready that is the only problem.
Still it is worth exploring, please go and talk to them and tell us how it went.
Http://www.brixx.international/project/multi-orchard-villas/
Dear Zohaib Bhai,,
Please avoid interest as it is prohibited in our religion. It's better you keep on paying rent instead of paying interest.
I hope you would understand.
Regards,
zain Nadeem
This was the first time I asked a question, and the response I got is so helpful. I would like to personally thanks Zain, Paki-1, Mr. Khan, and Arshad sb for the advice.
Thank you Zameen.com for providing us with such wonderful website.
Shukriya all,
Zohaib Furqan
You welcome bro.
Indeed very helpful resource this forum is.
Yes Khan bhai is right Islamic home finance is good but you will need to confirm their payment plan.
You can consider flat. I think it will be cheaper than a home.
you will have to pay down payment as far as i know but it maybe negotiated or lowered.
And kindly look for something that is physically present. Do not go for files or future plots/homes/flat whatever.
Thank Arshad sb, you advice is highly appreciated and will be followed upon as instructed.
Thank you
Yes but do look for other options maybe you find something better and as per your requirement IA
@Mr. Khan
Can you suggest some place as i am willing to pay advance payment and on installments. Please guide.
@Mr ZohaibIf you are in Rwp/ISB visit Al-Haram City , located on chakri road. They are giving houses on very affordable rates in installments. 5 yr back they sold 5marla company build houses only for 13lack (total) in installments. You may find a good installment deal there.
Thank you Abdullah Malik sb, I have no problem in shifting from Karachi. I want to know are there any feasible projects that you or anybody know off.
Moreover, I bit of a problem I checked Al-Haram City over Youtube and there is an entire documentary about the group being shady :(
Regards,
Zohaib