First of all I want to make it clear that I do not support Bahria Town Lahore's actions, marketing tactics and selling techniques. I like it or not, the fact is that it is very successful in these matters. I will not be discussing what Bahria Town should do (as it knows all this very well) but what Bahria does. The point is to understand the working and strategy for gaining well or at least remaining safe in our investments. For this purpose we need to put our emotions aside, and think rationally and laterally.
In general Bahria Town buys land after the launch of its project and receiving first installment. This is the main reason we are still not clear about the location of Bahria Town Lahore Sector F. Almost all of its plots were sold when the project was announced publicly. If you read terms and conditions on the back of application form which you have accepted by signing the document, it clearly shows that the amount paid is not refundable. And if you do not pay the installment in time, you will be paying mark up on per day basis which is too high. Bahria Town will apply its rules and regulations on its member but will not bother to consider concerned authorities (LDA and TMA) instructions. We should also understand that these authorities have their own plan, game and agenda. Strangely these authorities are blaming Bahria Town for the problems which are also found in their (LDA) projects.
In this situation new and panic buyers would stop paying installments. BT would cancel their plots and resell on very high rates when things are settled down. Investors would also take advantage of this situation by buying files from panic sellers on lower rates. This kind of controversy game is very useful for players and big fishes.
You may not believe it but it is a fact that Bahria Town has announced (almost in all newspapers) and sold its commercial plots in Sector F about two weeks ago. The rate of 5 Marla commercial plot was in million rupees.
In my opinion BT is not going to make the matter clear so that it and its main players can take all possible advantages of this mess. I do not agree with friends who claim that not a single person will be paying the installment. May 2013 is too far yet so wait, see and evaluate every thing (rationally) to keep yourself safe from more or huge loss.
Personally I did not recommend much the Sector F due to
- Its high price - Rs.31 Lac for 10 Marla if you buy from dealers and Rs.32 Lac if you buy directly from Bahria Town, Lahore (What a Game!!)
- It does not have 5 Marla or 8 Marla plots - Small investors are kept aside
- location - Yet not clear
- Terms and conditions (No open file option, No refund)
Few of my friends asked me to buy 10 Marla files for them. They will, surely, be paying their installments in time. We do not see any thing problematic in this situation.
You are requested to consider your circumstances and decide whatever is best for YOU.
Comments received on LRE page:
Javed replied on Sunday, March 17, 2013 01:38 PM PST
Dear Mr. Kaisrani.
What you advise for sectoer E investors. They are also in the same mess. But only 4 installments remaining. Should I continue paying or stop.
kawish replied on Sunday, March 17, 2013 03:32 PM PST
Any idea how soon the possession for the entire sector E inducing Johar Block?