Hi,
I have 500 sq yrds plot in a block. Plot # 405. Can you please tell me its approximate price and shall I sell it now or wait for some more time?
Dear Sam,
A block is slow in sale purchase just because of that crushing in Taxila mountains. Location and planning of this block is better than all other blocks. If you can hold this plot for a year or 2 then it will be more expensive than B block but it all depends on Taxila mountains crushing.
Thanks. Do you have any idea about the current price?
A block 1 kanal price should be about 33-35 lacs
Thanks Pk1. Is it (405) considered a good location plot?
To be honest Sam, one would have to visit the place to see if it is a good location plot. I cannot tell you that unless i visit. I will go to B-17 when I am in Pakistan next time around inshAllah.
But on the whole, a block is very good indeed. The only problem is the ongoing crushing which is a temporary thing inshAllah.
@Sam
We recommend to hold for at least 8 months from now in order to harvest good profits.
You should sell it as soon as possible. From Islamic point of view purchase a land for investment purpose (in a sense that after few years price of the land/plot will be doubled and then sell), haram because it is zakhira-andozi. So don’t do this haraam thing and took pity on genuine buyer so that they can purchase it and live happily
Hoarding is a social evil. People might call it investment but it is all about restricting supply whereas the demand remains the same resulting in a price hike. Whether you are hoarding daily use commodities, food items or anything else like plots(nowadays plots are essential for life and it can be consider daily use commodities) just to make profits in the short term, it is a dis-service to society at large.
@TrueIslamicFollower,
Can you provide a fatwa from a qualified aalim employed with renowned institution about the definition of 'hoarding' and whether this definition applies to people investing and holding a few plots to safeguard their lifetime savings against inflation and devaluation?
If you do not have such a fatwa (with name of aalim and his institution and his phone number), then kindly do not create confusion based on your personal opinions.