Salam all dear members,
Can somone please shed light on btk files. If i buy a file for say around 275,000
Http://www.Zameen.Com/property/karachi_bahria_town_karachi_residential_plot_file_for_sale-973944-8298-2.Html
I want to know how much i have to pay after paying the initial price of the file and what other cost i have to pay in future. Please can someone give complete details.
And secondly can the file process be done in lahore or only in karachi bahria offices
Thanks all
Commission- 5K/10K
Down payment- 275K [which you will pay to buy the file]
Transfer fee- 6K
Document preparation- 1K
Three paid installments- 270K (90K each)
After this the file will be checked for NDC at Bahria office (any of the three cities including Lahore) transferred to your name.
Try not to pay in cash but through a demand draft or cheque.
This will take about 3-4 days.
You will need to pay 1,160,000 to Bahria in quarterly installments of 90K till Feb 2018.
On 7th Feb 2015 the 4th installment will be due amounting to 90K.
Bahria has a history of levying some charges at the time or after possession but don't worry they won't exceed 10% in any case and won't bother you compared to plot price at that time. If in balloting you get a category plot e.g., corner or park or boulevard then you will need to pay a premium of 10% of the total price of the initial booking price which will be 172,500.
Very well and sincerely explained Mr. Zubair.
Mr. Zubair - appreciate for the detailed reply. Many thanks
Mr. Zubair, one of the agent i spoke with - he said that I have to pay only 8 installments (quarterly) starting this year. Yours adding up to nearly 13 - kindly explain. Thanks
He is probably confused. Had that been the case, this plot will cost you 1,285,000 instead of 1,725,000.
Please refer to the schedule here:
Ali
Do not pay in Cash.
Ask the dealer upfront whether he can arrange for a transfer within a week or not. If can't consider moving to a different dealer. There are tons of 125Sqy files in the market where they have just been traded by hand and the original owner is nowhere in the picture. Dealers buy you a file and they they or you chase the original owner and beg him to come with you to Bahria office and get the file to your name. Better safe than sorry.
Mr. Zubair thanks for the reply
Will keep the advice in mind… Can you recommend any agent in Lahore
Sorry, no idea about Lahore.
@Ali, Make sure what you are buying is what you wanted. As there are 2 types of 125 yards categories a) Normal b)Ali Block.
Type (a) has total cost of plot : 1,725,000
whereas Type (b) total cost is : around 30 lacs
Both of them have different installments plan and different own.
Thanks again for the expert advice...
@ Mr. Wasi - thanks for flagging up the two types... Its for long term investment purpose ... I can only invest in normal file
what is the major difference in both apart from price?
thanks again
ALI Block is on ground with MAP and plot numbers, whereas OLD 125 yards are still on papers and location hasn’t been disclosed yet.
Ali-in the long run (`5years), both of these plots will become equal in prices. Ali block is for people who are targeting to build in the current year or so. In a way it sets a price benchmark for old files to at least become 30 lacs in a year or so. As you mentioned its for the long term, go for the old plot.
Just to give you a perspective if 500sqy is at 1.5 crore in 4 years then 125sqy should be at around 55 lacs.
Thanks Mr. Zubair for the advice. Appreciate it
Good detail reply by Zubair.
Regards