Post 16/30: How to identify fake file in property?

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I thought of learning about different aspects of Pakistan, as I want to do something for it. Therefore, I started with some of the well-known indices or reports that would help me in gaining more information about Strength, Weakness, Opportunity, Threat (SWOT). These were 12 posts. You can search my posts related to Pakistan by typing: #UsmanZafarParacha_Pakistan

Now, I have been learning about real estate business in Pakistan. I have started from Youtube videos and hopefully during my learning Journey, I will get some more useful resources to move ahead in this learning and perhaps entering into the real estate business.

I have seen a video, titled, “Fake Property File Kesy Check Karen ? | Verify Your Property Here by M ismail Advices” on the channel “PROPERTY NAAMA”

The host tells that one of the ways to identify fake file is that property would be available at a lower price than that of market value. Don’t be greedy, or you would face bad experience. The second point is to check the seller (dealer), who must be honest, who must be a proper group, who must be strong, who must have a strong background, and who is a big company or multi-national company. The third point is to work on a society, as to how much files that society has sold and how much property is available. Fourth point is that about 80% of projects in bigger cities have already gone through over-selling. Over-selling means if there was 1000 kanal of area, the project has already sold about 50000 plots. In this case, about 30% of people would get plots, but about 70% of people would not get any plot. After many years, (suppose 10 years), when the client does not get plot, they would be refunded but with some percentage, suppose 25%, less amount. So, society has already gained profit from the money, and client has already gone through losses. Another point is to find good consultants, who would advise you to go in the right direction. The host also tells that every that file is fake, which would not be delivered within 3 years.

Follow my Hashtag #behtareenkitalaash on Youtube: https://www.youtube.com/hashtag/behtareenkitalaash

Sources:

PROPERTY NAAMA - https://www.youtube.com/watch?v=B9qRf5ygZiM