I have Rs. 8 lac ready and I can pay an instalment of Rs. 125,000 per month. I want to invest in land. I shall prefer to invest in Lahore as I live in Lahore.
What is the best option for me to invest if I go with installments plan with above budget and saving per month? On installments I am considering Park View Villas (Gold Block), Dream Garden/Avenue, and Grand Avenue. What do you think of these investments on installments?
Or
Should I gather my savings for 1-2 years and then invest by paying lump-sum to buy a plot? On lump-sum I am considering to save for few months and then buy a DHA City or an LDA City 5-Marla files. What do you suggest?
I can hold my investment for 5-6 years and even more perhaps.
Thanks.
I would say don't go for saving plan as if what you save in two years the prices of land would be double that time of your savings. The sooner you invest is better.
Find a safe investment according to your budget and keep paying installments.
In pakistan buying plots on installments is risky becoz developer will not give confirm timeline for possession…you can find many people stuck in such projects for decades…you should follow the strategy of wait and see…and try to purchase your property as soon as prices comes in your range. …should find out near possession projects at least if possession plots are outside budget. …
Million is right, timeline is an issue for almost all developers including the big ones cda,bahria, dha, multi and the small ones will take even more time.
But the price will jump according to time and development, if you can buy a plot in 8 lac today (for e.g university town or roshan pakistan within this budget) after two years their price will be not be same.
Or if you buy a 5 marla plot in BTK for 17 lac in 4 years installments, it's price won't be same at end of 4 years even if it's not developed.
So the sooner you invest the more you save. My friend got a plot in BE for 15.8 lac in 2011 Aug, now after 3 years, it's not yet developed but the price is 30 lac once the possession is given , which is expected early next year, it might jump to 40 lac. So go ahead and grab a good thing.
In you budget, i would not recommend to get stuck in Bahria Karachi or any other silly sector, add one lac more and in 9-10 lacs you can buy a DHA valley file, keep it for 3-5 years.
Thanks Imran Khan, Million, and Nasir. I am really impressed.
But I do apologize that I had not provided a complete question. Hence I have edited my question above.
Since I am from Lahore would you advise me to buy Karachi/Islamabad files?
Shakeel your all told societies are out of market now , is parkview mutan road plots still available from society ? i think you should wait for some better project and cheap
Park View Villas (Gold Block), Dream Garden/Avenue, and Grand Avenue are available on instalments.
What about LDA City or DHA City on full payment?