A Handy Guide For Those Investing First Time In Punjab
If being an investor you are looking to diversify your portfolio of investment or you are a new investor in the market, you will surely have concerned about the security of your investment.
How will you get to know about important prospects of your investment before you actually get down to bombarding out the greens?
Million Dollar Question:
According to an Expert, you should ask the following questions before going to invest:
- Is the developer credible in the market? Would they utilize your money well and deliver the product as promised, on time?
- Is it approved by the local development authority?
- Is that particular property sellable?
- Are you sure you are not buying over-priced property?
Similarly, experts also suggested some more questions to the list:
- Is the location good enough?
- Is the dealer registered or authorized by the society?
- What is the expected Return on Investment (ROI)?
An expert stated that the first issue faced by the new investor is always the search for a trustworthy source of information in the market. There are two sides affected by the boom and dynamic shift in the past two decades, on one side, real estate sector has changed for the better but on the other side, there are many different societies in the market in order to identify the trustworthy one.
LDA Is One Of The Solutions:
According to an Expert, the most trustworthy source of information was Lahore Development Authority (LDA) or any other authorized authority. Every investor should go first to these authorities. LDA is the best source of information for all the issues related to litigation and land acquisition that becomes a major problem in all the societies. Anyone can contact for this matter to the LDA or check their website for further details. LDA is the only source that can give you the accurate and exact information about the litigation and land acquiring issues of relevant societies.
Another important issue that must be brought to attention is that the society sometimes does get the approval of their land and can approve their claim by LDA. Thus, an investor has to be careful while investing in land that has approved.
Reliability Of The Developer:
According to an Expert, you should go for the brand look if the developer seems to be credible. You should check their background and identify how are their projects? It is not compulsory for you to search an old developer; a new developer is fine if he is properly established and trustworthy.
Changing Aspects Of Location:
Many experts have described the reason that affects the society in many ways. Is it place for society? Is the society having an ideal location?
For example, there are many societies within Lahore that are being developed on agricultural land and they have many issues of NOC with LDA.
If you follow these steps and instructions, you will surely save your investment. If you find any other method to secure your investment, then do share with us.