Mini Market Direction :)
Answer to a friend who is worried may help more people.-----------------------
Dear friends! If you invested in DHA Lahore phase 9 or any where else thinking prices will only go up your start was not good. There always ups and downs in one phase or project. This is the reason I always requested to have some diversification.
There are several factors keeping DHA Lahore phase 9 prices lower. In will add just a few in here.
Currently every property dealer in Lahore Islamabad Rawalpindi and Karachi is "MOSTLY" dealing in Bahria Town Karachi files. Since every one is "MORE" involved in BT Karachi gold rush Lahore is ignored badly by dealers. Since dealers not focusing Lahore investors are not focusing it either.
DHA Lahore phase 9 is facing additional competition from DHA Gujranwala, Fazaia Gujranwala and DHA Multan with 1000s of NEW files flooding in market.
DHA Lahore management failure to hold ballot even after a decade wait for file holders is also not helping. For DHA staff taking over more land is more "FUN" than having a ballot for us. when I say "FUN" you should be smart enough to UNDERSTAND what I mean. They should protect their trust and respect and do a ballot in DHA Lahore phase 9 asap instead of keep adding more land in DHA 9 and DHA 9 ext master plan. Perhaps they don't want to do ballot to keep price of agri land POCKETS of land in DHA 9 master that is not yet in DHA hands. May be DHA admin dont want to face trouble what they are facing in DHA 7 village clearance etc.
Other most important thing keeping real estate prices is political situation in Pakistan between PMLN and PTI. Who would buy a property when he dont know who will be PM or in Govt in next month. This kind of uncertainty is keeping new buyers away for time being. I think current bad political situation is also keeping DHA from doing a ballot and also sell Billions $ worth new plots in DHA 9 on installment at same time of this ballot.
My own reliable sources have told me a deal between PMLN and PTI is agreed upon already and foreign missions have given guarantees to Imran Khan for fair investigation of poll fraud of 2013 instead of ARMY or judiciary. I expect the political situation to get lot better in few more days time at max.
After that I expect prices in all properties in Lahore especially DHA Lahore phase 9 to get better. DHA is likely and must do a ballot of DHA Lahore phase 9 asap as more than 10 years wait is enough punishment for people who trusted DHA Lahore.
Do keep in mind DHA Gujranwala and DHA Multan rise and gains are a lot dependent of DHA Lahore gains as they are chapters of Lahore DHA and run under a close watch of DHA Lahore. DHA Lahore trust safety security will make those project more profitable too only IF DHA Lahore gains.
So be patient for just a few weeks time now with your old investments and can also safely make a new investment NOW at lower prices in DHA 9 or DHA Gujranawala or DHA Multan . what are prices of developed plots in DHA Lahore and Bahria Town Lahore or even files in Karachi.
One more request to all my friends If you don't have to make a new house now please sell your plots in DHA 5 6 8 "DURING SOME EXPECTED GAINS PERIOD IN THESE PHASES WITH DHA LAHORE OFFICE SHIFTING ON DHA 6 MB and go for smaller size plots in DHA Lahore phase 9 DHA Multan and DHA Gujranwala. Saying this because your most gain in DHA 6 7 8 is already there. DHA 9 and DHA Gujranwala DHA Multan have a lot of room to gain from current price percentage wise. You still have your investment in safe secure fraud free Qabza free no one man show projects DHA but your NET RETURN for future gain will be LARGER in new phases than currently developed or hi priced DHA 5 6 8. IF YOU MISS CHANCE TO SELL DURING GOOD FEELING TIME OF DHA OFFICE SHIFTING ON MB in DHA 6 more gains after that time will be lot less than lower priced new projects or phases of DHA. A good calm intelligent investor sell plot and file at right time not when he is forced to sell in dead market. If you plan to make a house in DHA 5 6 8 please hold to your plots as this is best place to make a new house for period between now and next 5 to 7 years time. If you plan to make your house after 5 years why park huge amount in a slow gaining place any more. Hard to find people that can make or save 2 crore and convince them to buy in already developed but currently very high priced phases. Their high price is justified due to their superb location and quality of development work with safety and best schools in Lahore etc but its too big amount for any new people to invest here in DHA 5 6 8 for future more gains from new investment in here.
Ch. Mujahid Yasin (CMY)Lahore Real Estate
Before the transfer procedure begins and before making the payment of chosen plot or property in DHA, few of the property buyers want to verify the property.
Verification Procedure is pretty simple and all you need is to collect a Verification Form available at DHA Office Reception Y-Block, Lahore. People can get this verification form for Rs.650/=. Furthermore, you need to submit this form back to DHA Office Reception along with the following documents:
- Copy of Allocation/ Allotment Letter
- Copy of Computerized National Identity Card of Property Owner
- Original paid Voucher of Verification Fee
- Copy of Property Dealer’s Registration Card (if applied through Property Dealer)
Customer/ Authority Holder will collect the Verification Form from DHA Reception next day .
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Applying for No Demand Certificate (NDC)
After verifying the ownership of property, you will have to apply for No Demand Certificate. No Demand Certificate (NDC) is actually the first step for property transfer in DHA, in which the owner has to clear all the remaining dues and outstanding objections. You need the following documents to further proceed with the process:
- Copy of Computerized National Identity Card
- Copy of Allocation/ Allotment Letter
- Copy of the Site Plan (For the plots located in possession areas)
- Property Tax receipt and clearance certificate from Walton / Lahore Cantt Board.
- No Objection Certificate (NOC) for Armed Forces Personnel in case of Service Benefit Plots/ Plots allotted out of Defence quota from GHQ AG’s Branch
The timeline for NDC for Non-Possession areas is 5 days, while in Possession areas, the timeline is 8 days. After that, you will receive Transfer Fee Voucher, Remaining Dues Voucher (if any) so you clear all dues before handing over property to the next property owner.
Transfer Fee for 1 kanal plot in Phase VII is Rs.50,950/= while in Phase IV, the transfer fee for 1 kanal plot is Rs.62,950/=. In short, transfer fee varies from phase to phase in DHA. After paying the transfer fee, and clearing the remaining dues (if any), you can apply to the registering/ transferring authority of Federal Board of Revenue (FBR) for the sale/ transfer of immovable property. You can get the FBR Form from Federal Board of Revenue office or download it from FBR’s website at http://fbr.gov.pk
You will have to submit the FBR document to National Bank of Pakistan by filling in Seller & Purchaser’s names and DC Value of the property. If you are selling the property before two years, you will have to deposit DC Value of property, depending upon its location; otherwise, CVT is not applicable. Moreover, CVT is not applicable on 5 Marla plots. For instance, the DC Value of 1 kanal plot in Phase VII is Rs.40,00,000/= and the DC Value of 1 kanal plot in Phase IV is Rs.70,00,000/=.
Moreover, you need to fill in CVT form to get tax clearance from Income Tax department. 2% CVT fee is applied on per kanal basis. For instance, CVT fee for 1 kanal plot in Phase VII is Rs80,000 and for 1 kanal plot in Phase IV is Rs1,40,000. DC Value, CVT fee and Stamp Duty varies in every phase of DHA.
After 3 days of submitting CVT Form, FBR Form and Transfer Fee in DHA office, the management will give you time to visit office to complete the property transfer procedure.
Note:
In case of House or Open Possession Plot, customer will have to coordinate with Building Control Branch for Surveyor visit and dues clearance.
In case of Constructed Building, customer has to clear the TIP Tax of Walton / Lahore Cantt Board and Water Bill.
Transfer Procedure after NDC
After No Demand Certificate clearance, the next step is to transfer the property by bringing the Transfer Set to the Customer Service Officer for transfer appointment. The documents required at the time of transfer are:
- Transfer Document (Forwarding Letter) giving the details of plot or house, name of purchaser and other document under seller’s three signatures
- Original Allotment/ Transfer Letter so that new Letter is issued in the name of new property owner
- Neat copy of Computerized National Identity Card of Seller and Purchaser (duly attested by Oath Commissioner)
- No Demand Certificate
- Membership Form (Available at DHA Office for Rs.350/=)
- Membership Fee paid by new owner (Rs.22,830/=)
- 2 Passport size photographs of new owner (Duly attested by Oath Commissioner)
- Transfer Fee Voucher (Duly Paid)
- Undertaking by the purchaser
- 3% Stamp Duty of DC Value (Varies in every phase)
- CVT (Duly Paid)
- Original transfer/ Sale Deed along with affidavits of seller and purchaser for surrendering, if plot is registered
- Cantt Board Taxes
Both sellers and purchasers will have to visit Transfer Branch for transfer. Customer Service Officer will receive the documents and issue receipt. Within 30 days of transfer at Customer Care Centre, new owner can bring the receipt and original Computerized National Identity Card on the given date, to collect Allocation Letter from Transfer Branch, DHA Office.
Courtesy: LAHORE REAL ESTATE
