Guys,
What a shame, part of my hard earned money already disappeared.
One of the big dealers offered me confirm plot + booking + open certificate for a certain amount. I happened to book 10 plots in a hope that since its a confirm booking it should be profitable in long run (I was keeping 6 months - 1 year in mind).
However today same dealer is offering the same deal for 30000-40000 less as they claim that membership certificate cost has gone down by 30,000-40,000. Hence in few days I have lost 3-4 lack and I fear that in coming few days I may loose more as certificate price may come down.
The mistake I made was the price I was paying for membership certificate as original price was only 15000 and paid amount was 175000. Since I bought 10 plots each decrease in certificate price will result in loss multiplied by 10 times.
Big shame for me.
Not to mention, this was my first investment in Bahria Town and in Pakistan indeed.
@ tiger that is why i am insisting my clients to get some solid things against their had earned money and i also insisted you for dha i think…Btw booking 10 plots simultaneously is a big mistake as well…I pray that your loss recover and try to get rid of this gambling and get some solid possession plots in dha…
Brother you really made a mistake in my point of view. Many forum members bave repeatedly said in different threads that dealers game is ON In bahria karachi. Try to keep urself away from bahria karachi until dust settle down. At this moment there is much confusion about it. Frankly speaking; I am sure even bahria was not expecting such crazy rezponse from karachi. Now bahria is also planning how to handle the day to day developments In khi.
Tiger,
need nt 2 worry, just pray u get plots 2.
2ndly, if u hold thse plots 4 couple f yrs, u r going 2 gain multiple times IA.
I bought enclave 2 n 1.2million 20 days bak, now its less than 950k, but no worries b/c its part f life. U ll get wats written n ur fate.
JUST CHILLLLLLL
Done s always well done.
I feel sorry for you brother, its really not easy to digest this kind of loss:( I dont understand this certificate game, so I cant suggest you anything good, just can wish you good luck. May you recover your loss soon.
Saleh I like what you said Done s always well done!
Tiger! Keep an eye on the market particularly 2-3 days after booking closes. I hope you will be able to sell in the market in the name of Booked files or confirm files, whatever bahria dealers will name it!
The whole project base on un equal distribution of money ,my hard money will go to u and your to some one else ,in the end in m.riaz pocket and those who will get land in ballot and remain in stress till project implementation of making deserted land in to something look able construction … Gambling comes in project like this where govt law is weak and different for different people
I bought file in dha lhr in 21 and submit 38k more now it is 16.50 , but no worry ,be brave .just pray u get some plots … Yes scam and fraud is shame but at least u have something in hand ,dont u ,just it will now give u fruit as long time investment , alll is well
Ask the dealer who said you will get confirm booking.However, you put too much investment (10 plots) and if get plot you earn millions and if you lose in balloting then total loss.Its rule of gambling.Wait for balloting.
I think you should get some advice from our senior/experienced fellows about holding on to your plots. They might increase their value in the near future?
It is going to happen Mr Tiger. Prices are going to crash down. Same what happened 7 yrs back in lahore pindi bahria. Need 10 years before u start making money out of it.
Regards
@Omk, I though prices for Bahria town karachi are already low in comparison to other Bahria projects (I know the land cost there is very low but then again its the same when Bahria bought land in Rwp).
So prices for Karachi to crash has low chances, even if they do crash, it may come down to 2 lack minus max (I think).
However in 1-2 years time, it will have value to it once construction starts and we have a map for phase one (just my opinion).
Tiger. Totally agree with you. Prices will go thru genuine jumps for different milestones such as map, construction of roads, etc. Dont lose heart . I would suggest keeping the file and just keep a close watch of market. You will find many phases of the project when you will get good return on it. The project itself has good prospects of success.
Personally though I avoid and don't recommend bahria town investment especially in the launching phase.
Bravo Bro,first time i have seen some one,who lives up to his profile name,you are definitely a Tiger,
rite now past is history so forget about cursing,repenting,and bla bla bla...
I spoke to prism new york both yesterday and after a brief bargaining they agreed to give a plot confirmation for mere 15000 on top of registered form,which suggests that possibly everyone will be successful in any case,we cant predict future,but hopefully just after allottement,market might rise for a short time period,as their are genuine buyers who havent jumped in yet due to the fear of loosing the registration certificate money,so if it picks the pace,immediately sell all your holding at what ever reasonable amount you are getting against your invested capital,dont hold on to things as greed of earning more more and more,specially in case of bahria can give you a setback,god bless
Agreed with adnan sb.BAhria investment passes through three phases..
1-Initially on some profit..
2-Then on loss for long time..
3-Again on profit as all the files are sweeped by the investors..
So big investors earns twice..
Dear Tiger;;;;
Don't jump on to conclusions, so , early...
I think you are in this forum from quite some time, so , you should have got good idea about potential investments options over the past few months. I think you have made a big error, by, booking 10 plots, you should have done less as a starting point, and if the project would have taken momentum, then you could have jumped again, as in real estate, its never too late, when it comes to solid projects....
However, once you have done it, so, keep an eye on the market, and try to sell some certificates even on cost to cost... And keep the rest, what you can afford.
I totally agree, that one should not be greedy so much, to become millionare in days.... Try to invest for some period of time and in steps.... Don't put all ur eggs in one basket... Since this is first project of Bahria in Karachi, it will certainly give good return in the coming future, so be calm and compose.... You will get some reward in the medium to long term....
I agree that one should always invest hard earned money in solid on ground investments for less but guaranteed return..
Please forgive me, if my some words are harsh, but this is my sincere point of view..
Thanks
Lalch(Greed) bouri bala hi
I hope you are correct Mr. Tiger. Pray to Allah that you recover your money soon.
@Adnan, confirmation money is not a concern its the certificate cost that I paid (175,000), its the ever notorious dealers who dodged me into 175k certificate whereas I should never have paid more than 150k since Bahria announced to ajust 150k in installments.
which was alot and now certificate price is coming down day by day. Nevermind I am looking ahead for next couple of years.
When I did this investment I had no greed/lalch as I had set amount of money that I must invest (my other investment is in cluster-1 enclave, I still have room for third investment). Before I return back to normal life. So I never planned to become rich overnight as I have holding power to keep paying installments for all these investments, also at the time of purchase I kept 2-3 years in mind for good returns.
Also this is my Halal money that I saved through my hard work I dont like it to be called gamble/jua, similarly stock exchange is the same where people become rich and poor overnight and its always Halal, hence by investing in real estate you may loose or gain but its not jua.
God bless you all for being so kind and showing concern.
Thanks.