Being an overseas pakistani i need advice from expert about bahria orchard phase 4 safari homes new launched housing project.
Bahria orchard launching 5 marla double story homes in phase-4
Is it worth buying a house on instalment there or any other alternative housing project on instalments in lahore ?
Advice please.....
Seniors!
Please guide us on this as we are oversease and cannot visit the area. As I understand, its not directly Bahria but a private developer "Q-links" who shall build these houses? Most probably under new incentives announced by the government for housing. In that case the completion must be by December 2023. Am I right?
You are absolutely right sir, because Bahria is already committed to give possession within 2 years time of this project even instalment plan lasts upto 3 years. I have got to know some people bought plots there in the past they have been charged extra for development so there is concerned bahria might have hidden charges before allotting houses on this project.
There is still question mark here and We need advice from expert please.....?
There is not a right time to invest in Bahria Town Projects generally all over Pakistan.
BT Karachi: Sinking Boat, people have cleared all their installments but they do not have any idea when they would get their plot.
BT Rawalpindi / Islamabad: Awami Villas 3, Block K and other alike blocks have been sold in installment over a decade back and people are still awaiting their possession.
BT Islaamabd / Bahria Encalve: NOC is still not cleared from CDA, Litigation areas, Many blocks yet to be delivered. Enclave 2 is also a failed story in itself.
Generally specking, the Bahria Town, developer has shown us to attract new customers is in fact that area of the Bahria Town which has been developed as BT initial projects which the developer has made with passion and to make a space in the market. Once they get the trust from the market, one after another the projects went to the below average / failed state.
Key: As per current situation and recent history of the delivery, only invest in possession areas of Bahria Town. Do not live in dreams that some thing will happen after 2 years which will make money for you. Better to take risk free property and get little part of the profit rather to loose your hard earned money.
Thanks you very much Khalid Sb for your comments which are really impressive and fruitful for the people who are interested in buying property in Bahria town.
Overseas buyers usually are genuine and they prefer safety more than money earning investment so where would you suggest any better opportunities for buying property rather than Bahria town and Defence in Lahore?
Thanks Zia Chohan Sb.
As per current circumstances you should keep in mind the following before investing in real estate in Pakistan specially if you are overseas Pakistani.
1- Foreign currency vs PKR devaluation. You should predict the profit earned on the best property vs your foreign currency appreciation. I think keeping your money in foreign currency will be better option in current circumstances. I regret to say this as a Pakistani but this is true.
2- If you are interested in buying property, only go for possession property, do not live in dream world at all.
3- You should consider to invest in commodity (e.g. Gold) which is easy to liquidate vs liquidating the plot.
4- I am not Lahore based, cannot comment on Lahore options but it would worth investing in Islamabad CDA property at the moment. Sectors to consider are I-12, I-15, E-12 where the development is about to begin and one can expect better ROI.
5- If you want to buy plot for living go for developed sectors in Lahore / Islamabad like DHA and BT (Possession only and developed sectors)
6- If the purpose is investment stay away from BT (all cities)
7- If you like to get rentals go for Grond Floor Shop in busy area (which exist on ground and rented)
May Allah bless you and give you the best....
Regards,
Khalid
Brother, in my opinion, being an oversees, go for safe investment such as DHA.
Better safe than sorry.