Economic situation of Pakistan depends on the vicissitudes & circumstances but the property sector is the only sector where there is no trend of continuously falling down of the property prices because construction of homes, apartments in different areas of Pakistan is continuously growing & demanding due to installments plan being offered by the builders & developers. Those areas that were considered as the side areas of cities now are the part of cities. Rapidly increase in populations are the main reason to shortage of the house in main cities of Pakistan because people want modern & luxurious housing schemes. In a recent survey Pakistan needs almost 09 million more houses & from past five years prices of property has been gradually increased by 118 % due to more demand.
It is a big dream of every Pakistani to have a house within the city due to high prices this is just a dream, however builders & developers have minimize this problem to offer properties with installments plans.
This is offer is nowadays very successful because most of the people cannot afford onetime payment & they have option to purchase property on installments as per their need. In this process you just booked plot, apartment or shop as per agreed installments plan. After the completion of the installments & all dues you became the owner of the property & the said property can be transferred accordingly at the office of relevant Govt. organizations.
In recent past it has been observed that some people have been the victim of fraud from the fake builders & developers, however it can be avoided to follow below instructions:
Before purchasing a file or plot make sure the said builder or developer has declared the location of the land or property. If they have not available any land than sageness is to not purchase particular land.
The second main point is to make sure that the said property is approved from relevant govt. organizations & they have proper NOC from respective departments.
While purchasing property on installments make sure there is no hidden charges in terms of processing fee, transfer fee, possessions fee etc.
Do complete documentation agreement to avoid any mishap in future.
After purchasing property on installments, it is recommended to be aware with market & construction work as per agreement or mutual understandings.
DHA Phase 06 Karachi