Hi,
I am new to this site and would welcome some advice. I have some land that I have had for some time in Pakistan and due to ill health and old age I am unable to travel there now. I want to sell the land and have some relatives who can support me with this but I am getting so much conflicting info/advice on prices and that various people telling me I am going to be cheated, leaving me quite uncertain. The land is very good agricultural land with full water irrigation running through it. I am currently being quoted about 20-25 Lakh per acre but others are telling me it’s worth more and that I am not getting fair price!
Grateful for advice on this matter and what would be deemed a fair price per acre, considering it is very good quality agricultural land and fully irrigated?
Also how much in British pounds does 25 Lakh approximately equate to?
Thanks
Re: Selling land in Pakistan
selling land doesnt only depend on whether its agricultural or not. A lot of points are kept in mind in order to quote the right amount. Eg, where is it located? which city? which area? like its locality and provided whether its a corner one or in middle of other lands. The other systems in the area like provision of gas, water supply..electricity, is it available or not..
Also, the neighborhood... is the area known for good reputation or what? all these things are considered while buying a land. I am afraid, only with the limited knowledge you provided, it will be pretty hard to quote any amount about the property you own.
P.S. the amount makes GBP 16,583.
Re: Selling land in Pakistan
25 lacs is about £16,500. This comes to about 3 lacs per kanal or about £2,000 for about 420 m2. It does seem cheap but a lot depends on the location. You need to do some more research before taking anybody's word for it.
Re: Selling land in Pakistan
25 lacs is about £16,500. This comes to about 3 lacs per kanal or about £2,000 for about 420 m2. It does seem cheap but a lot depends on the location. You need to do some more research before taking anybody's word for it.
Many thanks for your replies & useful advice. Difficulty is I am not able to travel to oversee the sale so reliant on others. The main land I am trying to sell is in the Punjab & is a fairly sizeable plot not split up. It is fully irrigated. I am worried that it is going to be sold cheaply among friends of friends or that I won't get a fair price as I am not able to personally oversee the sale. I have some land in other parts of the country which I know for a fact is not as valuable or sought after.
Re: Selling land in Pakistan
Since you cannot trust anyone with giving you the correct information, it maybe an idea to tell everyone that you are not selling anymore but looking to buy additional land and then see what figures they come up with. Best of luck!
Re: Selling land in Pakistan
^Thats the only thing that can work!!
Re: Selling land in Pakistan
Leave your Question on this website. DHA Lahore Phase 5 6 7 8 9 10 Bahria Town Sector A B C D E Prices Plot For Sale Map 64361 Lahore Real Estate .Com Ref and check what property experts can guide you.
Also you can call some of the agent dealing in that specific City/ Area. Check with number of them. Do not relay on one. First gather information on market price. Once you are aware of the certain range limits. You can simply allot someone in Pakistan to physical visit if you can’t.
Lahore Real Estate Contacts.
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Re: Selling land in Pakistan
Many thanks for the advice - very helpful.
Re: Selling land in Pakistan
I wouldn't talk to just one agent as agents in Pakistan are unregulated and out to make money anyway that they can. You can get vast differences in prices according to the agent that you speak to. Agents are even involved in trading themselves and there is no concept of conflict of interest. Agents probably earn more through trading than through buying and selling and have their own vested interests. They usually buy cheap and resell for higher amounts by taking advantage of people. I would always speak to a few different agents and cross reference the information. Don't just rely on one agent.
Re: Selling land in Pakistan
You want to sale irrigational land, is it fruit park, how far it is from main road, gt road or motorway.Is it in running or just plain.I think the price is very reasonable keeping in mind its irrigational land and that s the most difficult land to purchase or sale because its mostly under the control of gaint agriculturist or local land lords and usually it has no recoards availble just verbal.
Try to sale it to the neighbour land owners they will probabaly give you the best price.
Re: Selling land in Pakistan
I agree with what Arshad has said.
You haven't given enough information to determine its value. The value of the land will in majority of cases be based upon location (is it near any major city or town etc) but also the infrastructure aspect such as running water, electricity, roads etc
Right now the people in here who are suggesting it is reasonable don't have all the information to make such concluding remarks.
Do you have anyone in Pakistan whom you trust? and the best thing to do is have it valued by a number of people/agents.
Good Luck, :)
Re: Selling land in Pakistan
Have a look on OLX or Zameen.com for similar piece of agricultural land in your city.
From what you have stated, 25 lac per acre is very reasonable for agricultural land, unless it is in an area adjacent to a big city with potential to become a housing estate!
I would advise you to sell if you don't want to go back - you will get some decent cash you can enjoy (even if you are conned by your relatives). If they have such intentions to rip you off, I am sure they could sell it without telling you so grab whatever is on offer and don't ever think about it again !
Re: Selling land in Pakistan
Please can you advise on the approximate value of some agricultural land:
6 acres in Muraba No 22 Gajanwala near Chack 38/2RA, Okara, Pakistan
Approximately how many Lak per acre would this land sell for?
Where is the best place to sell this land?
Thanks
Re: Selling land in Pakistan
^ this is in my neighbour... InshAllah I'll try to get quotation of this land in a day or two..
Re: Selling land in Pakistan
Now there are various property websites for Pakistan real estate..... You can consult the websites.