Owning a house in one of the most progressive cities of Punjab – Lahore – has become an unachieved challenge for citizens due to economic stress and financial challenges. In the time of great stress and financial crisis, there are certain developers that offer their plot units on installment basis so that individuals with limited income source can manage to afford their own house in a decade or less. Let’s explore the features that you should look when searching plots in Housing Schemes In Lahore on Installments.
STATIC LAND PRICES
One of the hurdles that hold buyers back from purchasing plots in housing schemes in Lahore on installment is the uncertain price hike. See, this specific class that purchases plots on installments is basically concerned about higher land prices that leads them to opt for installment options. If the developers later increase the prices after 1.5 years when a considerable amount is paid, they’ll find it very difficult to complete their installment tenure and obtain the land ownership. So the primary aspect that you should when purchasing plots inhousing schemes in Lahore on installments is that the prices remain static during the installment period.
ACCEPTABLE POSSESSION PERIOD
When a new housing scheme initiates its marketing, it starts with flyers, legal documents and NOCs obtains from relevant land development authorities. This is the reason that they ask for minimum a year’s time until they start giving land possession to the buyers. Now there is a point for those buyers that are purchasing plots inhousing schemes in Lahore on installments that decides if they should make purchases and start paying installments or wait. Never go for a housing scheme that asks buyers to wait for possession until the installments are completed. Because they are opting for this option in the quest of owning their house in max 4 years. If they are to wait until the installments are completed after 3-5 years then they’ll have to wait few more years until the construction is completed.
IDEAL PLOT LOCATION
You’re going to purchase a plot inhousing schemes in Lahore on installments but you should have the same privileges as those buyers that are paying full price in cash. The installment factor should deprive you in selecting a prime location of your plot. Ask the consultant to show you the prime locations that would double your property’s value in the long run. If they force you to purchase a plot in a faraway location from parks, entrance or supermarkets, you’re free to look a plot on installment elsewhere.
AFFORDABLE BOOKING PAYMENT
One of the hurdles for buyers (when purchasing a plot on installments) is the booking payment. Basically, the booking payment is set to evaluate if you’re interested to purchase a plot or not? So those developers that want to sell more plots inhousing schemes in Lahore on installments try to keep the percentage to minimum. You should be paying about 15-20% percent of total price of the plot for booking. If you’re asked to pay 50% or more and you can’t afford it, you have other options to consider.
We offer real estate marketing consultancy and suggestion on selling/buying properties in Lahore, If you’re looking to purchase a plot in housing schemes in Lahore on installments, you may speak directly with our property experts on +92 42 37188542-3 +92305-62222-81-4 now.