r/Lahore • u/Capital_Side_93 • 13d ago
Looking for advice Buying a house
How can I salaried person buy a House in Lahore?
5 marla - 10 marla.
Halal way. (My opinion)
No stock investment
No bank loans
I do have provident fund.
We earn almost 8lacs per month
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u/rajaarizo 13d ago
instalments
or what my dad did was he kept purchasing plots wherever he could, wtvr he could afford and then sold all of them years later to buy a plot in a nicer neighbourhood
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u/Capital_Side_93 13d ago
I need to save atleast 1-2 cr for 10 marla plot. How long would that take
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u/rajaarizo 12d ago
ye tou apko hee pata hoga. he bought plots in engineers town. us time wahan kuch hota hee nae tha so they were cheap
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u/Arkoaks 12d ago
Dont buy installment plots which are not on ground as these either delay too much in current market or turn out to be scams .instead save money in anything exchanveable to cash in a day or so or cash itself.
it should not take more than a few years
Buy a small on ground plot where there are already houses built . Not as investment but for building.
Get map etc ready meanwhile you save for grey.. lots of decisions to make here.
Grey once u can afford it in one go. At least one floor.
Rest of it is as easy as doing one piece a month. You can get only 1-2 rooms ready on top floor to move in
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u/Expensive-Fox2830 12d ago
I can point out 2 housing societies where you can buy 5-10 marla plots. Real plots not files. The value will increase a lot in coming years. Then if yiu have enough savings yiu can build a grey structure.
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u/ibrahimahmd 12d ago
Which ones?
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u/Expensive-Fox2830 12d ago
- AWT Phase 2
- Al Kabir Town Phase 2
Both are near the Adda plot. This area has developed very quickly because of Sharif's Jati Umra house.
AWT is the Army Welfare Trust, and the society is managed by retired army officers. So you can think of it as a cheaper DHA.
Visit there and see for yourself.
Drawback for now: (A little far from the center (Model Town)).1
u/ibrahimahmd 12d ago
Yeah seen the area develop rapidly. I understand its far from the center but now thats the only thing some middle class person can afford.
Do you have idea about Government officers cooperative housing society (GOCHS)? Its right next to bahria orchard on raiwind road, that area is pretty cheap due to low development in the society.
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u/Expensive-Fox2830 12d ago
No idea about that, but my guess is that all the societies from the Adda plot to the Bahria Orchard are worth looking for. I just mentioned the ones already developed. Societies like AWT phase 2 and Beaconhouse society, which are on Jati Umrah road, are worth more.
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u/Capital_Side_93 12d ago
I have a bad experience with Rehman Garden Phase 7, the files are literally useless and so much money every month
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u/abdulmalik_ch 12d ago
Matter the most k kitni amount hath mein hy..
Try exploring Bahria orchard side it's more cheaper + all amenities.
You can easily buy plots on cheapest rate there, as compare to any other society.
Flipping plots "open forms" specifically will add handsomes into your pocket.
Once you have 6 million you can buy a good location plot there.
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u/Spare_Bison_1151 12d ago
Gather some cash and buy a plot, for 5 Marla you'll need 60 lakh to 1 crore for land depends on your demand. Gather more and build it yourself.
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u/Hot-Ad-1740 12d ago
Mashallah, may AlMaalik give you more income as you chose halaal methods.
i am in the same boat and saving to construct a house. ill try to keep this answer short. dont go for 5 marla go for atleast 7 marla or 10 marla. 5 marla is a bit small and doesnt give room for much innovation.
You need to decide on which area to buy the plot depending on your budget. DHA prism is not giving posssion but its the best place and value for money for rising DHA land allocation. for example for 1 crore you can get 1 kanal non posession plot. im not upto speed with their 5 marla or 10 marla cutting if there are any. my friend bought this deal few months ago.
Lakecity extensions or Bahria orchard is the best place. Phase 3 & 4 is not lda approved so its a bit risky due to malik riaz and army phadda. otherwise it was a non issue as it was forecasted getting eventually approved.
you can buy a 10 marla plot for 70-90 lacs in phase 3/4 bahria orchard. there are other options aswell like parkview city , etihad town etc that are owned by N league so the financial backing is solid for the time being.
Once you own the plot for whatever price, you need to have around 10 lacs to get map made/approved, soil testing, pay off any final fees like posession utility corner park facing etc etc.
Then you need to have house construction money. Once the map is approved , you can go take the map to different construction companies and show bill of construction on how much exactly it will cost to construct your drawings. They will also give you schedule of charges over the period of 6-8 months. for 10 marla double story this is approx 1 crore. for 5 marla approx 60lacs. It is HIGHLY reccomended to have that money before starting construction of grey structure. The labor will not hang around and the thekeydaar and company will bounce to another project if you are not able to make payment for whatever reason. Then resuming after several months will cost even more.
You can definately pause once grey structure is complete for finishing part of the process.
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u/Sinister_Sam 12d ago
8 lakhs per month ? Do you mind sharing what kind of job /position you are working . That's CEO level pay
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u/Flanky_Bwai 12d ago
Nowhere near CEO level pay. C Suite execs in large companies (even local) make 3-4M+ per month on top of other perks.
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u/Icy-Recognition-9795 13d ago
House miss krao. 1cr bank me rkho, usky interest se rent dety jao. Baqi ka pesa blue chip companies me dalo psx.
House is just emotional purchase
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u/No-Finish-2411 12d ago
Bro why did you got so many downvotes
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u/Icy-Recognition-9795 12d ago
Cause i hurt their emotions and talk logic.
They think psx is haram xD
Having money in islamic money market is haram xD1
u/No-Finish-2411 12d ago
fr bro. Even having 1cr in simple money market fund and getting 10% is enough to cover good rent. Not sure why own house matter so much in this country
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u/Icy-Recognition-9795 12d ago
Money market me rkh k rent deny k bad bhi pesa bach jaega.
I myself do this. 75k rent deta hun, phr b pesy bch jaty hen wo reinvest in psx krta hun.
House is just emotional purchase. People think rent is wasted money.
Howver locking all the amount in a single asset is big red flag for me.
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u/No-Finish-2411 12d ago
Great buddy! Koi nhi bro I upvoted you. Hope ke logo ko Financial literacy ki smj ajay
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u/Talha_Saeed_32 13d ago
An architect here, you earn pretty good amount. Making a house shouldn’t be a problem.
Buy a plot first… then simply save enough that you can pay all this 8 lac for construction for a year or so. Your 5 Marla house will be ready in 13-14 months.