What? How? When? – FAQ’s about Real estate people often ask in Pakistan
One of the safest options to invest in Pakistan is real estate investment. It is a definite investment plan with a money-back guarantee.
One of the safest options to invest in Pakistan is real estate investment. It is a definite investment plan with a money-back guarantee. Investing in the real estate business is both short and long-term investment. Once you invest the capital, you will start earning steadily and consistently for a long. You can sell out the property later and earn a remarkable boost on the price.
Here we have gathered a few most frequently asked questions and their answers so you can invest your fortune with content and satisfaction.
What's the status of "file" in real estate investment?
The megaprojects are constructed in years, and people can buy the properties/plots in installment. While there is no balloting started yet, the buyers are provided with the file. It contains proof of their processing the specific land, and at the right time, they are given procession papers accordingly.
What does it mean by "society/schemes" in real estate?
A housing society or scheme is a well-planned infrastructure in a specific area. Housing societies offer amenities and facilities by themselves. Like
Energy and water supply
Suppose you buy a house, a plot of commercial space outside societies in any area. In that case, you have to struggle for every facility yourself - Like you have to apply for gas and electricity connection, making sure about the security of your house, etc.
How do I know the land is legal or not?
It was not simple to check whether you are buying genuine land or it is a scam. To check the credibility, you can click on the relevant housing development authorities' sites. Only those societies approved by the relevant authorities are legal, and you can invest without fear. RDA, CDA, LDA are among few approving authorities.
What does it mean by balloting?
Balloting means the plot allotment numbers, which are allotted after a short period from booking.
What's the difference between long and short-term investments?
While investing in real estate, there are two types of real estate investment; long term and short term.
Short-term investments offer revenue in 2 to 3 years, and long-term investment means the revenue will start generating in a period of 5 to 7 years.
There are lots of other questions as well. Keep reading real estate blogs on different sites like reall.pk to stay updated.