Wednesday, July 29, 2015

Installments Plots Trap Explained (Lahore Real Estate)

I am a housewife and I am interested in purchasing a file with my monthly savings. Can you advise me where should i invest where i can make a down payment and then pay installments every month. Down payment amount is not an issue and i can pay installments of upto 1-1.5 lac per month. I was interested in lda city but i heard that this scheme is a flop. I am not looking for immediate profit but i want to leave this for some 15 years as i intend to buy for my kids. Jazakallah khair and prayers for your help. 
(Mrs Ahmad)

This post is for answer to question of Mrs Ahmad 

For past many years I have witnessed looting by many big and small real estate developers of some very needy people who cant afford to pay cash amount to buy a property but are able to afford some savings of from hard earned money from working in very tough jobs and by working extra hours to make it possible to have plot where they can build their future dream house. 

I have tried dozens of times in past to warn people not to get into installments plots booking trap. wrote post after post begging people not to book new projects that are launched one after another every months. Some of these developers have less number of plots in their projects than the number of times they launched projects for same land. Its done shamelessly every month because there is now low in Pakistan to stop all this looting. Before I go any further I will tell you a true story.

Bahria Town launched Awami villas project and offers 5 Marla house in 3.5 lacs that included land cost and the house construction. 1000s of 1000s very poor people booked these villas in Lahore and Rawalpindi. I cant tell you the exact number but trust me I got dizzy when I saw actual number of these villas that were booked on both cities.

After these villas were launched two brother and sister came to my office. Lady just retired from teaching job few months ago and was doing tutions to make money. One brother was going to retire same month from his Pakistan railway job and 2nd brother was still working in KSA as laborer but was on visit to Pakistan and had very small saving amount from his job there. They told me what they are what is their saving and what they plan to do. They said someone told them from website you guys are biggest dealers in Bahria town and job we have can be only done by Lahore Real Estate. They said we all three want to live on same street next to each other but there is no place where they can find even a plot of five marla in about 5 lacs saving each one of them have. They said we saw TV ads and newspapers ads that Bahria Town is offering these very cheap houses and promising in all TV programs that they will deliver them before installments are paid because Bahria Town is important machinery to build them in days from Malaysia. They said all news anchors like Kamran Khan is praising Malik Raiz in one hour program how he is going to do it. They said we could have bought these villas from market but our fried in KSA said only go to LRE. He told us only LRE can ask Bahria to either allot them all three villas next to each other if not please buy a 3 villas from open market for us.

After listing to them me and my brother Adil Saeed tried to convince them for full 2.5 hours Its not like what they are seeing in newspapers and seeing on TV. Its not practical at this price even if Malik Riaz is serious. These villas will never be built. Please save your money because this is your life saving. You will lose money and also lose your sleep. Gave them detailed example of BT 9 Pindi. Told them for our small commission amount we just cant commit this crime especially when all three of you are so simple hard working salaried people. I especially got very emotional because my mom also worked all her life as school teacher too to earn bread for us like my dad because dad job salary was not enough to meet our family daily needs. But after 2.5 hours me and Adil bhai gave up. All three said they have no other option and want to take risk even knowing the full story from me about Bahria Town phase 9 Rawalpindi that I had posted here many years ago too near and after launch of that BT phase 9 Pindi. We told them ballot is not done and Malik Raiz wont listen to us. BT only ask our help in setting up new rates for BT sector C etc and we only buy sell ON GROUND plots Bahria Town Lahore canal bank sector A B C only. We were not dealing in BT 9 or Bahria Town Orchard It was made cleared to each client at that time. To make story short we bought villas for them at lowest posible price of OWN (Profit money on booking) and didnt charge any commission to them. Told them IF ballot is ever held come back to us and we will try to get three villas next to each other from market with lowest cost. They were so happy Its cant be put in words here. 

About 3.5 years all 3 once again walked into my office and Me and Adil were always sitting in same room. When we saw them through office glass window before they entered our room Adil said they are here to sell those villas. Sure enough they came in sat on sofa and all three started to cry with tears flowing in their eyes. Adil had to go for multiple DHA transfers for a very rich client from Karachi but he stopped and sent other LRE team member for completing 1st transfer after looking at these three persons in tears. They said we paid all installments we paid excess development charges but still there is no location no Awami villa not even a location where it will be located in Lahore. They said each of them is going to lose 3.25 lacs of them after net payments because no one want these Awami villas and Bahria town is refunding only paid amount after taking 20% out as penalty for cancellation and not OWN ( Profit money ). They said they are three are so ashamed for not listing to us. Even though LRE was largest dealership dealing in Bahria Lahore only plots at that you guys refused to sell us those villas. Didnt charge us any commission. Please do charge us this and past commision and sell these villas at first call while we are here. We dont care about price any more. Just sell them and get us out. Take out rest commission adnd pay us rest of the money. 

They insisted us to make a call to some dealer or buyer and dump these villas now. They are never going to buy an plots on instalment and will prefer to stay in 5 marla house for all three families but will only buy it when they have cash to buy it. This is what we suggested them when they came to our office to buy these villas. Adil bhai told them to give us original papers they had in hand told them to wait for his call to come back. They left.
Adil and me also had tears in our eyes after they left. Adil told me bhai If you dont mind I am going to to skip all my transfers for party from Karachi to help these three get best possible price. He also said we are not going to charge any past or even this commission if its ok with me. I told I am proud of you for saying this. Go ahead try your best to get them maximum money back by reducing their loss. Till today me and Adil cant forget those people or that day and those facing of all three very very simple people. Their Villas were sold on couple of days at best market rate at that time and loss was reduced to 2.5 lacs each

This is one deal that unforgettable out of 1000s deals we did in past 12 years and may have forgotten.

Now lets get back to how this fraud of installments bookings is actually play

Developer get a team of dealers ready. Mostly dealers that deal in his projects frequently. Offers them 5% to 15% depending on how fast or slow market is or how bad his project that may need lot of work to convince clients to book in the project. Dealers get this 5% to 15% amount on booking his each plot book the plots for clients. Dealer books it and developer makes payment right away from booking amount. 

Developer if he have land for 1000 plots will book 3000 plots with massive campaign of newspapers full page ads TV ads and all dealers plots wanted advertisements in Jang newspaper separately for team of 50 to 100 dealers. These daily wanted property starting from couple of weeks before actual launch of NEW PROJECT from same developers are fully paid by the developers them self. Dealers names and phone number are used on massive fake wanted plots campaign.

Developers set a pre launch price for 1000 plots lets assume at 10 lacs (For 2 Lacs dicscount on launch price of 12 lacs). 

Dealers now start to offer pre booking at 10 lacs to their own clients showing them newspaper and saying look at all these plots wanted ads in Jang in last 2 weeks. There is already massive demand for plots for this developer old projects and new project is about to be launched soon. Book a plot here as it will be hard to find any plots after official launch and you may have to go for ballot to get a plot here. Maximum pre launch booking is done. 

Developers start to offering another 1500 plots to book at 12 lacs each plot.

A massive newspaper and TV ads campaign along with plots wanted ads from dealers paid by developers is launched. Developers own marking team starts booking at 12 lacs each plot. Dealers call its clients that booked at 10 lacs to buy book more plots at 12 lacs because he is already in paper profit of 2 lacs compared to developers booking.

Booking time ends developers and dealers play games of high own on 12 lacs launch price claiming there is still too much demand in market. But If you want to sell there is no buyer at any price. 

About 1 to 2 month later dealers and developers go to sleep. All newspaper ads are gone. Developers start to offer his last lot of 500 plots out of 3000 plots against. If market is fast developer sells as many plots in shortest time he can until plot gets into loss of about 40% from booking price. If market is slow he sell enough plots to keep his plots 40% lower than market. Developer wont give you how many total plots sold. When a ballot will be held. What will be actual location. You are on your own. You wait for 1 or 2 to hope price will improve to recover loss. Than you will sell plots at loss to same dealers that booked it for you. He buys plot for developers and gives back to developer gets his 5% commission again from developer. Or you return to developers and take 20% loss on paid amount. developer uses same files to sell in market again. Developer keep playing games by selling his files in market at his price when ever price gained a little. And than buy back to lock profit. Since supply is endless you can win. Developers is also geting his files back with each rufund so float in market is shrinking back to 1000. When that number of 1000 files for 1000 plot land is reached a ballot is held. 

Those who held it for 3 to 5 years from launch day during this pain full time of major losses could now see a plot go in profit due to market conditions of surrounding plots lower number of available plots after developer got all his extra files out of market. If your plots was worth 18 lacs. You booked at 12 lacs plus had to pay 3 lacs development charges. Your net cost is 15 lacs and price is now 18 lacs. At this point you are hit with one last hammer again in form of 3 lacs extra development charges. Your are back to where you started at 12 lacs. If you started at 10 lacs pre launch you have made 2 lacs gains. 

You took all the pain and headache all the stress but developer walks away 3 lacs more profit with downing any thing but paperwork. 

After extra development charges are paid by you a ballot is held. Developer gives you a plot on boundary or very bad location. He keeps are cream plots to him self. Developers sells his cream plots and start to wait for you to sell your very bad location plot. 

Each time you go to your dealers NEW office to sell your boundary location plot. Your dealer that was on a motorcycle when you booked plots on pre launch has a new BMW parked outside his office. At this time he will have at least 6 to 8 inch long beard and saved head with a pug on it and most likely be on an Umrah trip with all his family asking Allah to forgive his past sins for robbing you for so many years.

Best time to buy an installment plot is after its ballot is done and extra development charges are already imposed. 

If you start saving your money today. You will have enough funds in hand after years of saving to buy same plot that you were going to book on installment at 10 lacs pre launch. I am 99.999% sure.

In DHA or Govt projects or Fazia projects you dont get above games and extra development charges injections.

syed shoaib replied on Saturday, May 9, 2015 05:54 AM PST 

I was doing engineering few years back and all other sibling were studying too. but all those years i was not able to live happily because parents health issue and of two events that put half of hard earned savings of father on stake , one an uncle scam us on sunder industrial plot, second we paid installment for years in bahria town sector c, both files were cancelled because they were on best location and only two installment was delayed but submitted , both files were bought by mamu in 6 lac own ,they made us to settle in orchard , father is always against installment thing , it paid us a lot and drag me into property thing, orchard plots i sold cheaply to meet needs ,always on grounded plots pay sufaid posh ppl. my lil experience.

syed shoaib replied on Saturday, May 9, 2015 06:17 AM PST

And to add up to this life teaches u many things , i have high ranked close army relatives but no one came to rescue us or to uplift justice , nor we relied on anyone because when my dada renowned syed in his old age migrated from near by punjab but indian side and got 10 percent of land from claim he used to have in other side of punjab , locals now famous politiceans near that land steal it from dada and his lil sons and dada brother who was a local and living already near lahore and high ranked gov servant and land owner of good piece of land where now dha of lahore is never came to help so u r alone with ur troubles , only u have to sort in end so better dnt put yourself in trouble.

syed shoaib replied on Saturday, May 9, 2015 06:31 AM PST

New lahore city good reputed developers but still i think they over booked as in lda record they own only 300 kanal , park view multan owned or co owned by aleem khan though i am supporter of pti but beside , few ppl got plot in early blocks but majority waiting in park view to get their plots after possession , i will only suggest go for installment even in military schemes only.

Tahir replied on Saturday, May 9, 2015 07:08 AM PST

CMY: Thanks for sharing; to educate and save common folks of Pakistan.

Overthesea replied on Saturday, May 9, 2015 10:31 AM PST

Appreciated, an eye opener reality. but keep it re-posting once a month as people have tendency to forget.

Hussain Kaisrani replied on Saturday, May 9, 2015 01:00 PM PST

CMY - My Guru! Salaam,
I am your fan ever since you started writing online. I try to read every single word you write on this page and learn a lot.
You have very rightly explained how developers play games with the help of dealers. I have also written about these market strategies but your way of writing and sincerity is simply remarkable.
Having said that this game is only good for experienced players / investors.
Thank you very much for this detailed piece of information.
I wish and pray for your good health and speedy recovery.

saima replied on Saturday, May 9, 2015 01:13 PM PST

i am the victim of islamabad new city in ppp benazir government,cda and nha scheme of govt of pakistan,paid for two plots and zardaree ran away with our life savings.Allah will do justice inshAllah if not here on the judgement day.

CMY replied on Saturday, May 9, 2015 01:41 PM PST

Hussain Kaisrani bhai you cant imagine how happy I am right now to see you here. Welcome back and stay here. I know you are more crazt than me to help expat friends. You and Raheem bhai Assad were just too amazing people here I loved to read each post and lean a lot from them.

You was always great help to my expat friends for Bahria Town area. You know I my self only dealt with DHA while Adil Bhai was handling all Bahria side projects. Since I came here poor Adil has so much call volume he dont have any time to do any thing other than to his Namaz time.

I know you are very busy but If you can answer here and there for Bahria that will be big help for me to learn latest ground realities there.

Again I am delighted to see you. We just got to find Raheem Bhai too now :)

Choudry Mujahid Yasin ( CMY )

Hussain Kaisrani replied on Saturday, May 9, 2015 08:44 PM PST

Thanks a lot dear CMY! I am always there on this page brother. Highly obliged for your kind words about me and my work dear.
I really enjoyed following comments of yours as I am witness to it. I have personally seen a top most dealer of Lahore in brother Adil Saeed office recently who was almost crying and confessing about his frauds with hundreds poor people in bookings of very famous project.

"Each time you go to your dealers NEW office to sell your boundary location plot. Your dealer that was on a motorcycle when you booked plots on pre launch has a new BMW parked outside his office. At this time he will have at least 6 to 8 inch long beard and shaved head with a pug on it and most likely be on an Umrah trip with all his family asking Allah to forgive his past sins for robbing you for so many years."

(Courtesy: Lahore Real Estate)
 ملک ریاض کا طریقہ واردات

ملک ریاض ایک شخص کا نہیں بلکہ ایک طریقۂ واردات کا نام ہے۔ اُن کے متعلق کوئی شخص بھی زبان کھولنے کے لئے تیار نہیں ہوتا۔ اُنہوں نے بے پناہ دولت کے ذخائر جس طرح جمع کئے ہیں ، وہ اگر دیانت داری سے کئے ہوتے تووہ ملک میں ایک مثال بن کر جیتے۔ مگر وہ سیاسی اور فوجی اثرورسوخ کے ساتھ ایک خاص طریقے سے کاروبار کو برتتے ہیں جس کا اندازا بہت کم لوگوں کو ہیں ۔ وہ اپنے ہر پراجیکٹ کو ایک انوکھے فراڈ سے کامیاب بناتے ہیں ۔ مگر پاکستان میں فراڈ کو جانچنے کے لئے درکار ضروری دیانت داری کا دور دور تک کوئی نام ونشان نہیں پایا جاتا ۔ چنانچہ ملک ریاض کے خلاف قانون کے حرکت میں آنے کا مطلب اس کے سوا کچھ اور نہیں ہوتا کہ ایک بار پھر نئے لین دین کے آثار اور امکانات پیدا کردئے جائیں۔ ملک ریاض کے فراڈ کے ہمہ گیر طریقہ کار کو کسی بھی ایک تحریرمیں پوری طرح سامنے نہیں لایا جاسکتا۔ زیر نظر رپورٹ میں اُن کے مختلف النوع فراڈ کے محض ایک پہلو سے پردہ اُٹھایا جارہا ہے۔ جو اُن کی ہاؤسنگ اسکیموں کی کامیابی میں ایک کلاسیک ماڈل کی حیثیت اختیار کر گیا ہے۔
ملک ریاض صاحب کا طریقۂ واردات یہ ہے کہ وہ جب بھی کسی نئی ہاؤسنگ اسکیم کا اعلان کرتے ہیں تو اس کے لئے ابتدائی ادائی (یعنی ڈاون پے منٹ )اور اس کے ساتھ وصول ہونے والی پہلی قسط کی مالیت بہت کم رکھتے ہیں۔ جس کا مطلب یہ ہوتا ہے کہ ایک عام آدمی اس ا سکیم کی طرف متوجہ ہوجاتا ہے اور سوچتا ہے کہ اتنی کم ابتدائی ادائی سے وہ پلاٹ لینے والوں کی دوڑ میں شامل ہو سکتا ہے۔ یعنی اگر انہوں نے مارکیٹ میں پانچ مرلے یعنی 125 گز کا پلاٹ اگر بیس لاکھ روپے میں بیچنا ہے تو وہ اس کی ابتدائی قیمت کو کبھی بھی ایک لاکھ سے اوپر نہیں جانے دیں گے۔ اب وہ کرتے یہ ہیں کہ اگر انہوں نے ایک اسکیم میں ایک ہزار پلاٹ کاٹنے ہیں تو وہ ان ایک ہزار پلاٹوں کے عوض دس ہزار فائلیں بناتے ہیں اور ان دس ہزار فائلوں میں تقریباً اڑھائی سے تین ہزار فائلیں اپنے ان پالتو 2600 سے زائد پراپرٹی ڈیلرز میں تقسیم کر دیتے ہیں جو پورے ملک میں پھیلے ہوئے ہیں۔ یہ پراپرٹی ڈیلر پورے ملک میں ماحول بناتے ہیں اور عام لوگوں کو قائل کرتے ہیں کہ اس ا سکیم سے تو گویا تیل ہی نکل آنا ہے اس لئے اسے سرمایہ کاری کے طور پر ہی سہی خریدنا عین عقل مندی ہے۔
یہ پراپرٹی ڈیلر پچاس ہزار کے عوض خریدی گئی اس فائل سے زیادہ سے زیادہ منافع کمانے کے لئے اسے زیادہ سے زیادہ مہنگا کرنے کی کوشش کرتے ہیں۔ یوں یہ پچاس ہزار کی ابتدائی ادائی والی فائل کو جیک اپ کر کے کم از کم دس لاکھ روپے تک لے جاتے ہیں۔ اس دوڑ میں جیسے ہی فائل آٹھ لاکھ کی سطح پار کرتی ہے تو ملک صاحب بذاتِ خود باقی سات ہزار فائلیں بیچنے کے لئے مارکیٹ میں اتر آتے ہیں۔ اور یوں ایک ایسا کاغذ جس کے پیچھے کوئی اثاثہ موجود ہی نہیں وہ مارکیٹ میں مہنگے داموں بک جاتا ہے۔
جب وہ اپنا یہ سارا سودا بیچ لیتے ہیں تو پھر ایک دم اسی سکیم کے بارے میں منفی خبریں مارکیٹ میں پھیلادی جاتی ہیں ۔ مثلاً یہ کہ ترقیاتی کام نہیں ہو رہے۔ فلاں سیاست دان ملک کے خلاف ہو گیا ہے وغیرہ وغیرہ اور یہ خبریں پھیلانے کا سب سے بڑا ذریعہ یہ پراپرٹی ڈیلرز ہی ہوتے ہیں۔
اس کے بعد سب سے منفی خبر یہ ہوتی ہے کہ پلاٹوں کی باقاعدہ فائلیں کھلوا کر ادائیگی کا شیڈول بحریہ ٹاون کی انتظامیہ سے طے کر لیا جائے اور اس کے بڑے بڑے اشتہارات اخبارات میں چھپوائے جاتے ہیں۔ اب اعصاب کی جنگ شروع ہوتی ہے۔ کئی لوگوں نے سرمایہ کاری کے جوش میں ایک سے زائد اور بعض نے درجنوں فائلیں خرید لی ہوتی ہیں جب کہ ان کی اوقات ایک فائل کی قسطیں ادا کرنے کی نہیں ہوتی ۔ لہٰذا وہ یہ کرنے کی کوشش کرتی ہیں کہ کچھ فائلیں بیچ کر بقیہ کی قسط ادا کر دیں، لیکن ہوتا یہ ہے کہ کچھ عرصہ پہلے وہی پراپرٹی ڈیلر جو اس فائل کو دس لاکھ روپے میں بھی سستا کہہ کر سرمایہ داروں کو تھما رہے ہوتے ہیں وہ اب یہی فائل دو لاکھ روپے میں بھی خریدنے کے روادار نہیں ہوتے۔ بہت سی صورتوں میں تو یہ فائل اپنی اصل قیمت (ہمارے اوپر والی مثال میں پچاس ہزار روپے میں ہی ) بک پاتی ہے۔
اب ملک صاحب اپنے ایجنٹ پراپرٹی ڈیلروں کو رو بہ عمل لاتے ہیں اور دس لاکھ روپے میں بیچی گئی فائل کو پچاس ہزار روپے میں واپس خرید کر ضائع کرنا شروع کر دیتے ہیں۔ کچھ لوگ ناگزیر وجوہات کی بنا پرقسطیں نہیں دے پاتے اور انتظامیہ ان کو قطعاً نہیں پوچھتی۔ لیکن جب وہ انتظامیہ سے رابطہ کرتے ہیں تو انہیں بتایا جاتا ہے کہ ہم نے تو یہ فائل پچاس ہزار روپے میں بیچی تھی، آپ نے دس لاکھ میں خریدی تو اس میں ہمارا کیا قصور؟ آپ نے ساڑھے نو لاکھ روپے کا پریمئم ادا کیا تھا ، ہمارے پاس آپ کے پچاس ہزار روپے محفوظ ہیں جو پندرہ یا بیس فی صد کٹوتی کے بعد آپ کو واپس مل سکتے ہیں۔
اص صورت میں زیادہ امکان تو یہی ہوتا ہے کہ جب تک ان کی ایک ہزار پلاٹوں والی ا سکیم اپنے اصلی خد و خال میں واضح ہو کر پلاٹوں کی قرعہ اندازی کے مرحلے تک آتی ہے تو مارکیٹ میں ایک ہزار فائلیں ہی باقی رہ جاتی ہیں۔ لیکن اگر کچھ فائلیں زائد بھی ہوں تو پھر آواز لگا دی جاتی ہے کہ وہ زائد لوگ اپنی فائلیں پہلے سے بنی ہوئی کسی اسکیم میں ایڈجسٹ کروا لیں (جیسا کہ ڈی ایچ اے ویلی کے دس ہزار پلاٹوں کو بحریہ ٹاون کراچی اور بحریہ ٹاون راولپنڈی میں ایڈجسٹ کروا لینے کے اشتہارات آج کل اخباروں کی زینت بن رہے ہیں) ۔ یوں جن ایک ہزار یا اس سے کچھ زائد لوگوں کو پلاٹ مل جاتے ہیں وہ پورے شہر میں ملک صاحب کی عظمت اور دریا دلی کے گن گانے کے لئے موجود رہتے ہیں اور سینکڑوں راتب خور پراپرٹی ڈیلر ان کے علاوہ۔ اور اس پر مستزاد میڈیا پر چلنے والے اشتہارات کی بدولت ان کی عظمت کا سورج ہمیشہ سوا نیزے پر ہی رہتا ہے۔اور لٹنے والا اپنی قسمت کو کوستا رہتا ہے۔
اس میں ایک اور اہم بات یہ بھی ہے اپنی ا سکیم میں اس جوئے کو مزید معتبر بنانے کے لئے وہ کسی نہ کسی حاضر سروس جرنیل کا نام بھی استعمال کرنے سے باز نہیں آتے۔ مشرف دور میں لاہور میں متعین جرنیل صاحبان کو فائلیں تحفے میں دی گئیں۔ فرض کیا جرنیل صاحب کو تحفے میں دو فائلیں دی گئیں لیکن ان کے نام سے دو سو فائلیں بیچی گئیں۔ اب خریدنے والا تو یہی سمجھے گا حاضر سروس جرنیل دو نمبری کیسے کر سکتا ہے۔ اور یوں ان کے کاروبار کی ساکھ کو وردی کا سہارا بھی دستیاب ہو جاتا ہے۔
تو اس کیس میں وہ ہزاروں فائلیں اور ان کے بدلے سٹّے بازی سے کمایا گیا پیسہ ہی ان کی اصل کمائی ہوتی ہے اور وہ پلاٹوں کے خریداروں کے پیسے ایمانداری سے ا سکیم کی ترقی پر لگا دیتے ہیں اور ان کی ا سکیم باقی اسکیموں کے مقابلے میں بہت بہتر صورت میں سامنے آ جاتی ہے۔
رضی نامہ
ملک ریاض کا طریقہ واردات
رضوان الرحمن رضی
کالم نمبر 227
تاریخ اشاعت 13نومبر 2015ء

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