I am mid-eastern overseas, and have currently 7 million to invest for 2 to 3 years in real estate for some good gains. I seek advice from experts for the following:
What can be a nice list of different priority wise options to consider?
Should I wait currently to settle down the current hike or should i rush back to Pakistan to make purchasing?
Is there a safe way to make purchasing without personal presence in Pakistan??
Much thanks in advance.
Dear Mr. Shoaib Mansoor
You can buy 10-Marla plot at good location in DHA phase 7 lahore around 65-lacs. Its almost 90% development is completed and possesion is expected next year and you can earn substantial profit once possession is given. Its advised to go for on ground plot rather than files because files can take years in transforming into plots. DHA is renowned and secure investment especially for overseas. You can buy plot in DHA lahore even without visiting Pakistan. You just need to contact well reputed agent to finalize this deal. Its better to do "Istakhara' before any investment. I mean take advise directly from Allah Almighty. I am sure you will get the Best advise.
Dear Mr. Irfan,
Thankyou for your response....
Which block of DHA -7 offering kanal in 65 lacs ? Is this Z-2 block in the end ?
As I heard that phase-7 1 kanal rates also climbed upto minimum 75 lacs.
Also what you suggest about phase-8 10 marlas or other societies like NFC-2, Lake city, fazaia ? Also I request other related experts to share their opinions too.
Thankyou,
Dear Mr. Shoaib
I suggested you 10-Marla plot in Phase-7. For example; you can buy in Y-block on main 150-ft road. Its price would be around 65-lacks but its location is very good & it will surely give you good return as well. Normal location 10-Marla price ranges from 55-60 Lacks. If you want to go for 1-Kanal plot @ 75 Lacks then yes; only Z2 block is the option. In other societies; Fazaia is better because it has solid organizers & development is good. Lake city; society is good but its organizers are not professional in real estate business, they belong to textile industry. They transferred their funds from textile to real estate and now facing pressure from banks as they got loans against their factories. NFC2; its quite far away from Lahore city and its prices are increasing only because of Bahria Town. Its high risk high return society. High risk means; its prices increased on the assumptions that Bahria Town will take over this society later on and Bahria Town needs Multan road access through this society. LDA has already declared Bahria Town sectors D, E, F as illegal & that matter is still pending. My point is that; NFC2 prices are not increasing because of its own credibility or development standards, these prices have increased in last one year once Bahria Town announced Sector F behond NFC2. What will happen if Bahria gets Multan Road access from any other side??? But in case if Bahria connects with this society then surely its prices will increase. That's why I said High risk High return.
Rest; I am not an expert, just an ordinary person. I hope some senior members of this forum will also advise you so that you can reach at better conclusion.
Ok my mistake... I didn't see 10marla previously. Very nice analysis by yourside, I appreciate your input a lot. My question again is what's the chance of further meaningful growth if someone gets 10marla in already high prices like 65 lacs in phase-7... Whereas in phase 6 (a better and already developed area), 10 marlas are roughly available in 80-85 range...
Dear Mr. Shoaib
The price range of 10-Marla in phase 5 is 110-140 lacks. The price range of 10-Marla in phase 6 is 75-100 lacks. Similarly; the price range in Phase 7 is 53-60 Lacks for normal plots but for corner, park facing, main 150-ft road you have to pay extra. Its prices are lower just because possession is not given yet. Once it is announced then you can expect a significant jump.
Now; you can conclude by yourself if 10-Marla in phase 7 has any chances for increase further or not. Its also not a bad choice to buy 1-Kanal in Z2 block at 75-Lacks. Most important thing; at least your investment would be safe as you live outside Pakistan.
Thanks Mr. Irfan for your time and valuable guidance.
You are welcome Mr. Shoaib
Well I think DHA is veru slow in Progress So Think many times before investing in DHA . Rest of the socities are good Like Fazia, BAhria etc
@ Zain,
I visited Lahore 4 months ago. Then I make a trip to DHA-7. Although the development work is much completed, but I backed off due to its very far location.... Yes I think Fazaia is a better option in an economical perspective too...