DHA has announced the balloting date for Phase 9 files. File values have suddenly gone up. I would like to retain my file but I don’t know if I will be able to afford development charges once balloting has been done. Anyone have an idea how much the dev charges will be for a 5-marla file, and what to do with my file if I can’t manage it?
Development charges for 5-Marla file would be approximately 7-Lacs.
Dont worry about it if u cant pay development charges. Once ballotting is done and ur plot price increased because of good location or demand then u can sell it easily & buyer will pay the development charges.
Hmmm OK, thanks Irfan. Won’t my plot be valued at a lower price if dev charges aren’t paid, though?
I think for 5 marla, the Dev charges must be around 700K
Development charges will not effect your plot price. Dont worry & relax.
What i think is the prices of plots will go down for some while when the balloting is done because the short term investor will try to escape and there will be extra flow of files in market, to gain some more profit you will have to wait for at least 6 months more after balloting.
This is my assessment but things can be different as well.
Is it a good time to be buying a ONE kanal plot file in phase 9?
I also share the same belief as Mr. Waleed, in that, after balloting, prices might comes down.
But please share your opinions and views
Goood
Bad location plots will be cheaper than File rates
Good location plots will be higher than File rates.
Simple :)
Does anyone knows how long it takes for the possession after balloting? What was the duration between balloting and possession for DHA phase 5, 6 & 7?
Its better to wait for the balloting and then buy the plot once its location is clear. There are huge chances that price comes down after balloting coz of selling pressure.
Development & possession time would be around 5-years. The past record of DHA shows they take 7-8 years for any phase development. This time they say we will do it on fast track thats why i assumed 5-years.
The prices might come down after balloting as the short term investors will be selling their plots as soon as possible...
Regards
I think prism wont decrease after balloting
@Irfan I think it will take longer that for the development though, because this is going to be the largest phase of DHA Lahore by quite a margin. It's going to take time, 5 years is too short a duration. I think in around 8 years we would start seeing possession in some sectors and others will follow.
Thanks for your advice about the Dev Charges. :)
And yes, prices are most likely going to tank because of oversupply, but that doesn’t worry me. I have enough holding power to hang on until demand stabilises.