Today some one told me the govt is demonetizing 15000 and 25000 un-register prize bonds. So either people have to convert those bonds to registered prize bonds or convert those to cash. So i think there is huge money coming toward the real estate and prices will escalate rapidly in next few months. What do you guys say about this update?
Nasir, I read about 15,000 and 7,500 discontinued. This is partially due to FATF restrictions. But I don't think this money will flow into real estate. Because, prize bonds are mostly used to stash black money and to evade taxes by actual/fake winning of prize bonds. So this money will find other avenues, most likely National Saving schemes.
Real estate has enjoyed it's amnesty and black money got safely converted into multi-billion rupee projects. Now is the time for this whitened money to fly away.
So I would expect the reverse after June 2021.
Has fall of Ch. MAJEED and Faisal Town started?
https://m.facebook.com/story.php?story_fbid=304371801248694&id=100050276280650