What's this property file business??

[ziaulislam]

Few of my friends saying that bought property files and lost money

What's going on with this file business

Seems to be scam going on in Pakistan

 

[Sugarcane]

Announce a society having 1000 plots, sell 10,000 Application Forms for plot (aka File) on official rate of i.e. Rs. 5,000 to own property dealers/agents, they resell it on higher prices, this sales/purchase keep increasing file rates. Plots are allocated based on ballot, so if your application didn't get selected in balloting then Developer will return official amount (Rs. 5000), you can't complain as you are at fault of purchasing piece of paper valuing Rs. 5,000 on inflated rates i.e. Rs. 100K.

People get's greedy when they see file rates are increasing day by day, so in order to become rich overnight horde files and get screwed.