Assalam u Aleikum. Can anyone please let me know what it means to purchase a file token.
We want to acquire land in Naval Farms Simly Dam Road side … In Sector E. This area is being developed. We cannot buy the developed land since it is beyond our budget.
How do we know before a deal that there are no illegalities and that the land is not oversubscribed?
Waiting for a response
Wsalam.
There is no hard and fast rule as things are kept ambiguous to the benefit of the developer. However, a few of the pointers:
– Check for approval (NOC/LOP) of the amount (how many kanals) of land approved.
– File Ballotted or Not.
– Any on ground development or atlest some machinery operating on the site. Sometimes a block is partially clear and partillay not acquired. As a general rule, developer deploy and operates machinery once significant or all amount of land purchased. If let’s say 50% land acquired and machinery deployed pricing to purchase remains land will skyrocket.
If all or few of the options above don’t tick the box, you are entering into risky stuff. Not that risk is bad but just to be prepared for whatever it has to bring along.
Other forum members can add further. Yes, never trust just because developer has a big name. Unfortunately in PAK real estate it’s a web of lies being built to sell out. Whether CDA/DHA/Naval/etc. etc., they care least about reputation and transparent. A bunch of agents (no offrncey) trying best to sell off and make a few bucks in the name of institute’s name they exploit …
Thank you for the input