Hi
I have been seeking res. Investment in dha phase 8 lahore with a budget circa 13m, particularly in v block. The objective is long term i.E. 5 to 10 years.
I have been given mixed opinions from a few agents and would appreciate your expert opinion to assist me making a right decision, here are the points;
1. I have been given advice to consider phase 8 s block, apparently there is not much stock available in v block or elsewhere in any other block within my budget.
2. I have also been given advice to consider phase 7 instead of 8 (i have no idea and never researched into this phase). I have been told to compromise this recently.
Could you please let me know what are the best options within my requirements.
Also do you believe that there is no other options available in phase 8 except block s which does not look attractive to me.
Unfortunately i am currently not residing in pakistan and it is very difficult to rely on agent's verbal opinion.
Appreciate your thoughts.
Thank you
Avais
Avais brother, all overseas have similar kind of problems and thats the point where many agents ate earning huge amounts. Anyway, lets come to ur question:
I agree Phase-8 S block is not that much attractive & prices in V block has gone higher. Low price plots have some problems where no investor would like to buy. Phase-7 is very good option in this budget. R, S, W are ideal blocks in this budget (these blocks have possession & houses are being under construction). Phase-7 was under priced for quite a long time, now people realised its potential and started buying in it. These days its prices are increasing gradually. I dont know what would be the position once u r back to Pakistan. By the way, U can buy plot in DHA through ur family member even without visiting Pakistan personally.
Refer location of Phase-7, u can use google earth to see it urself. Its located on the otherside of Phase-6. I mean, phase-8 is infront of phase-6 & phase-7 is at behind of Phase-6 (otherside of golf raya).
Dear Avais, i am NOT an expert when it comes to the real estate market in Pakistan but i'll tell u what i have personally experienced. When DHA phase 8 was launched in 2008, i Was residing in Virginia, USA back then. My father-in-law, who is a retired military officer, purchased / booked two plots for me. Luckily i got both the plots in draw in W block ( which is considered to be the best), a 1 kanal residential plot # 572 and a 2 marla commercial. The residential plot was on a 70 foot wide road, next to corner and very close to the market, masjid and park. While the commercial plot turned out to be a corner. I was visiting pakistan last year in Feb for my mother's surgery and then i sold the residential plot for 14 millions. Now after a year, the worth of the same plot is touching 20 millions, and u can confirm that from different sources. I dont know wether i was made fool by the dealers or the worth of the plot was really 14 million, ALLAH knows the best. Now I have shifted back to pakistan. I am residing in Bahria town Islamabad phase 8. Currently i am living in a rental house but thinking to build my own and for that i'll have to sell my 2 marla commercial plot. BUT only if i get a genuine buyer, NOT a dealer. So think of this option, do some research on ur own. If u make up ur mind, u cant text, whats app or call me at 923449991952. My name is tariq. The commercial plot details are : 2 marla commcercial corner , phase 8 , sector/block W. As per my knowledge, The DHA has given permission to build basement ground and two floors in 2 marla commercial plots in Phase 9. U can confirm that as well from ur sources. I will let u know that plot number once u make up ur mind. For now, u can see the map of the phase 8 W block in DHA official web site and locate the 2 marla commercial plots.
Regards
tariq
Sorry Avais, there was a typing mistake above. I meant, " AS PER MY KNOWLEDGE, DHA HAS GIVEN PERMISSION TO BUILD BASEMENT, GROUND AND TWO FLOORS ON 2 MARLA COMMERCIAL IN PHASE 8" i typed phase 9 instead.
Regards
tariq
What about Block T in Phase 8. How much will a normal one kanal plot cost me? Neither excellent location nor bad location. Medium type. I am exploring all dha options in Lahore but only plots not files. Phase 8 is nearly complete.
If your investment time span is 5 to 10 years then probably you should go for phase 9. If the duration is less then that than phase 9 is not suitable and you should pick between phase 7 and 8.
In this amount you should be able to buy two 1 Kanal good location plots in phase 9.
Thank you all for your comments and expert views.
Irfan thanks for your views on Phase 7, I have run some research, I note that there are a few villages and built in areas specially in or behind;
Block R = next to it is Bhungali/Pungali, also R has a graveyard
Block V & S = Dhira
What do you say on the above villages, do you think they will continue to remain villages or DHA will buy out/or have already bought them out? As i see them as a negative point.
My agent has sent some options in R & S, i will conside Phase7 once you provide me your further thoughts on above.
I look forward to hearing from you.
Thanks
Avais
Brother, Pungali village is effecting Phase-6 N-Block & Phase-7 Q block. It has nothing to do with R-block. There are around 800+ plots in R-block & graveyard is effecting only 40-50 plots so u are left with so many options to choose. R-block is the most expensive blocks in Phase-7, its almost part of Phase-6. Better u download the map of Phase-7 from internet & evaluate every plot which is being offered u from dealers.
Dhira village is in V-block thats why its prices are comparatively lower than other blocks. S-block is clear and it is very good option. W block is very hot these days & its location is good as well thats why its prices are also high.
Dear Irfan
Hope all is well.
Thank you for your reply.
I wanted to ask you few questions;
Could you advise me the process of buying, do I have to visit Pakistan or my father can buy on my behalf?
I have been offered phase 7 W Block with 130 not a corner one and not on wide road. Do you think 7-W: price are now 120 - 130 are reasonable?
thank you for your expert opinion.
Avais Brother
Yes, your father can buy DHA plot on ur behalf. Its called overseas transfer. Plot will be transfered on ur name but allotment letter will be given to you only whenever u come back to Pakistan. Its routine matter.
W-block is the hottest in Phase-7. Its price range is 120-135 Lacs, very good for investment & living.
Ok great thank you.
And can i get the plot in joint names me and my wife's name? Does the joint name cost extra fees?
Secondly, Is there any extra charge for allotment letter at a later date? or does that work without any fees?
Thank you Irfan.
U can collect allotment later anytime without any extra charges.
I have no information about joint ownership but i think it would be difficult. One advise is, prices are increasing these days so dont delay ur buying decision & lock the deal ASAP.
Ok thanks for the information irfan.
I am trying to buy but everytime something comes up sometime my agent says the owner does not want to sell, sometime, he says the plot is not available so let see this time.
Thank you
As prices are increasing continuously thats why plot owners are backing out of their offers. Ask ur agent to become active & lock the deal without wasting time. He might be trying to keep his portion in price as well other than commission.
Irfan bhai, want to invest 4 million in DHA lhr, which phase that u guide me please and IA 4.5 millions in six months that too in DHA, i was thinking to buy 1 kanal multan Dha file? what do u say abt that, if not Sir thn Lahore DHA in these amounts and phases. Will be very greatful to u if u can guide me in this matter.
Thanks in advance
Khan bhai, I would suggest u to go for DHA Multan file right now. Its a very good investment & less than 3-Million.
Keep one million in your hand & once u get 4.5-Million after six months then you should go for 10-Marla plot in Phase-9. Till that time, dha would have announced the development charges & i think market will go for correction. That would be suitable time for you to choose the plot of ur choice with good bargain. Right now, phase-9 prices are higher & not advised to buy.
Brother Irfan,
Thanks for the enlightenment.
Much appreciated!