Assalamualaikum,
I have budget of 30 lac. I am also planning to get loan of 70 lac (sharia based from KSA) that will be returned in 3 years.
Area of interest are Bahria Phase 8, Enclave, DHA and G-13/G-14.
Note(1): I will loss around 7 or 8 lac with the transfer of 1 core PKR (380,000 sr) if current sr (26) is compared with previous rate (28.X).
Note(2): I will return 10 lac more (80 lac in 3 years) over the loan of 70 lac.
Please advise investment plan of 100 lac. Or advice if I should wait if it is not buying time?
It is buying time.
Are you investing for building a house or purely for investment?
If for house, what size will you prefer depending on your needs?
-If for investment, will you also consider commercial?
In my opinion, you should wait and see for next 2-3 months minimum... Wait and see the settling of the financial camel of pakistan... Whether current parity of USD-SAR/PKR will remain stable and prices of everything including the realestate gets adjusted accordingly to the improvement in pkr value OR if there is any reversal happens in forex value again..
Regards,
Nothing special going to happen in positive in property within near future...general perception is either property hike will adjust itself or there will be a gradual slowdown...
so its advisable to wait and be patient for sometime...
Dear PK1,
I am open to all options. Purpose is investment with good return.
Not intrested in building house since i am away. But i can considered purchasing a house with high rental.
With Rs 10 million, in Islamabad I would suggest that you look for something in DHA-2, G-13, G-14/4 or G-15/F-15 or G-16. Buy possession plots.
In Lahore, explore LDA Avenue 1 or DHA Phase 8.
You can also explore small commercial plots - for example 30x30- in these areas especially F-15/1 possession area.
Dear Mohsin, you could do it this way:
Use your initial capital of 3 Mn to buy a plot in DHA Phase 2 (Ex commoners) or Bahria Phase 8.
Then Instead of getting a loan, pick options on installments. So you pay as you go :) without a loan headache. These days Bahria Karachi is the best option on installments in my view. Buy confirmed plot/villa right before the 1st installment is due probably by mid April.
You could also consider Bahria Enlave 2 files on big discounts for a long term investment.
Otherwise, if you want to spend 10 Mn, split it as below:
10 Marla possession plot in Bahria Enclave (sector A)for 7-8Mn
10 Marla in DHA Phase 2 (Ex Commoners with/near possession) for 2.5 to 3 Mn
In my view, the dollar is not expected to rise any time soon, considering Crimea situation with Russia & USA and positive developments in pak economy.
@Mohsin
With all respect of opinions of senior members to this... I will again repeat that give it a proper time until you feel confident about the firm stability in pkr...yesterday finance miniter said that petrol/ prices will be adjusted by April 1st (may it not be an April fool) :-)... Who know other commodities will also be consolidated accordingly.
The options given by PK1 and MBS are worthwhile... But options will remain out there all the time. These are not going anywhere...
If you are not in a hurry of something then give yourself a proper time... My case is the same as yours (same country, same budget) except i am not looking for a loan.
@MBS,
what can be relation between dollar and crimean crisis ?? i think this crisis can effect global Oil prices in case if there is any sanctions by US/EU over Russia...
Regards,
For dha and bahria,you can contact me at 03455370978 for best deals…
Dear Brothers, Thnks for suggestion.
Dear Shoaib, yes i can wait until mid of april or end of april.
What is your opinion on below plan;
Bahria enclave: 5M = 27 lac
Bahria Phase 8: block N, 5M = 22 lac
Construction Investment in Bahria Phase 8: 35
Dha Phase 2, block N, 10M = 33 lac
or do u suggest G14/4.
or 5 Marla house in G11
Options given by PK1 are very good, but you shouldn’t ignore Shoaib’s advice re stability of $/Rupee parity.
Dear Brother,
I am not an expert on Islamabad/Rawalpindi as I belong from Lahore. Try to get suggestions from members active from those cities like PK1, MBS alike...
If interested in some point of time in Lahore property, i would suggest you strongly for 1st. DHA Phase-8 proper 1 Kanal (as suggested by PK1 also) nothing like it for next 2-3 years time, and 2nd. Sui Gase Phase-2
and 3rd. Bahria Sector E
Regards,
I agreed with MBS,
1:Dha phase 2 new blocks
2:Bahria phase8
3:Dha valley
4:B-17 but there is some issues so wait
5:top city or Mumtaz city or PECHS which are near to new Airport if PM will visit then prices will be go up inshaAllah.
Please visit your self before invest.
My good wishes for you.
Brother,
I would suggest you to avoid taking loan and paying interest therefore.
It is a big sin in our religion. Please, study this sin, i hope after knowing you will not consider the option of taking loan and paying interest on it.
Its a brotherly advice and its in your benefit.
Hi Zain,
It is Sharia based in Saudi Arabia. They will give/sell me metal instead of cash which i will return it in 3 years.
It same concept of Rent Car or Meezan Bank.
Yes RIBA is strongly forbidden. We should avoid it. And we should also promote islamic banking being a muslim. In Islamic banking every transaction is possible. The researchers a doing work on it. InshAllah with the passage of time islamic banking indusrty will mature and widen there business particularly in pakistan and generly in the world.
@Mohsin, I would strongly agree with Zain. Avoid the loan at most. Try to manage your desires through available resources.
I believe if you are able to pay 2 or 3 thousand SAR for monthly loan payment then you must be able to buy a plot on installments. There are plenty of options like MPCHS farm houses, Bahria Enclave, Bahria Karachi and many more.
Ofcourse I don't know your circumstances but what I am trying to say is that avoid loan at any cost.
Regarding Shriah based loans, a friend of mine spoke to some Saudi Ulama in Makkah and they said better to avoid it.
Dears,
I am also very careful and against RIBA (Saod).
Now I am confused, since the loan is offered on Tawarruq basis which is approved by our Shariah committee.
Http://www.sabb.com/1/2/sabb-en/personal/ifs/financing/mal
Tawarruq:
http://www.bankislam.com.my/EN/Pages/ShariahConcept.aspx?tabs=3&mlink=PersonalFinancing
They have fitwas and all related documents required to make it officially halal.
If you have any fitwa or supporting document or link, please share it to avoid this loan/sin incase if it is sin.
On other side, f some one is sure that it is halal, then we should encourage it since it is benefiting many parties (investor of bank, employees, me, land owners,construction, labors etc. Ihdi-nas sira-tal Mustaqim.
I know more about Meezan Bank, As per my many religious friends, the complete body and activities of meezan bank are hallal and they have also invested money there.
It is your own beleive on islamic banking. It is better to ask the mufties. There are certain group of islamic thoght who are saying islamic banking is halal. Others are against it.
In pakistan it is my observation, that islamic banking is uder the influence of conventional bank. But with the passage of time islamic banking will mature and follow the true spirts of Islamic Modes of Financing.