How and When to Invest in Karachi Real Estate Business

Real Estate Karachi, Pakistan

Real estate business in Pakistan has always been under discussion and debatable from various aspects. Because Karachi and Lahore are the main cities in this regard both these cities also become a part of that discussion. Specially is case of Karachi property business most of the people have been lucky in the past few years, but if we go back and read about the history of Real Estate Karachi some have even lost all their life’s saving in the Karachi Real Estate Business, the question is how and why? Well, we at Rightdeed.cm are always striving to bring you not only the latest news and updates about the real estate business but also precious piece of advice based on the opinion of our expert’s panel which can be easily named as a Real Estate Think-tank.

Before discussing whether it is feasible or not to invest in Karachi Real Estate business, we would have to discuss some facts and figures and also, a brief view of all that happened in the Past 15 years in Real Estate Karachi of Pakistan.

For those who are new in that field, there is nothing to worry about, as it is no more a rocket science, real estate business is also as simple as any other sector. The basic rule which apply on all sorts of businesses is Demand and Supply; it applies on the real estate sector as well. Whenever demand of real estate is high and supply is low, prices go up. In the same manner when the demand of property is low and supply is high price have to face an ultimate fall.

Read More: Karachi Is Still the Sixth-Cheapest City in The World

As a matter of fact, the people who suffered in the Real Estate Karachi business during the last few years were those who did not have any idea of this basic demand and supply rule. They either bought property right before the rates were going to rise or during a sudden fall suffered great loss. Or they could not judge the political flow of Karachi which keeps on changing from time to time. Whatever the case may be, one has to ponder a lot while working in the Karachi property business market. When you are into property, no matter it is Real Estate Karachi or Real Estate Lahore you would have to know the basic facts when demand gets high and how it gets low otherwise you will have to face the consequences.

For an impartial view about the Karachi Real Estate, we would have to take a deep look upon the history of Karachi property industry which will make it quite easy for you to decide when to invest and when not to take the risk.

Why Karachi Real Estate Faced a Crash in Early 2000?

In fact, it was a very hard time for the Karachi Real Estate business as. Though it was not specific for the Karachi property market, as it crashed in whole of the country. The upheaval in the political environment of Karachi was one of the main reasons behind it. Due to the terrorism mixed political scenario played a great role and it was why the Karachi Real Estate crashed in that specific era which obviously had an everlasting impact upon the upcoming days of Real Estate Karachi business.

Other reason behind this was that due to the unfortunate incident of 9/11 most of the overseas Pakistanis especially who lived in the European and United States of America had to face a great deal of disturbance and migration. As they had to come back to Pakistan and bought houses in DHA Karachi, houses in DHA Lahore and houses in DHA Islamabad, the demand suddenly went high and the prices went up. It was a kind of artificial rise as when the conditions got stable, people again started to settle in their respective countries.

After that the Real Estate business faced a remarkable bloom in the 2016. Though the real estate business had some booms before that era too, but these were not so much noticeable as compared to the bloom in the 2016.

Most affected areas due to this bloom if talking about the Karachi Real Estate market were as follows:

Luxury real estate sector comprising of prices of properties over 2 Crore or more were highly affected by this boom in 2017. As an after math still effects are predicted in in the coming days by various real estate experts. To be simpler and more precise, price fall was observed more than 20% after the artificial rise in Karachi property prices. And obviously the most affected was the high price real estate sector. Similarly, the less affected area of investment was the 5 and 3 Marla properties sector.

Read More: Overall Impact on Real Estate Business in 1st Month of PTI Government.

How to deal with it

The core purpose of that article is to guide you in such a manner that if such case happens again, you may not suffer by acting upon our advice. As an investor, no matter you are a new one or a seasoned one, you should always act like an opportunist. For that you will have to look upon the positive side of the picture rather than the gloomy one. For example, now property prices are lower as compared to the past, so it is the best time to invest and seek new investment destinations like Gwadar, Bahria Town and DHA Karachi. However, do not expect miracles overnight, this is a very tricky game and you will have to wait for the proper time before you get some really sweet fruit.

We would wait for your precious piece of mind in the comment’s section below.

Stay tuned with Pakistan’s best real estate blog. And your feedback at support@rightdeed.com .

Best Area for Property Sale in Rawalpindi

Rawalpindi, Punjab, Pakistan

Honest Question:

Do you really want a property in Rawalpindi?

So Be Confident This Article Is for Your Help.

I’d wager that you read it because of the amount of research, advice, and step-by-step explanations for your property in Rawalpindi. We will provide you all the information that you want to know.

Here we go with the details:

The structure of Rawalpindi is like a big metropolitan of the World. Shopping centers, schools, market areas universities, hospitals, and clinics are easily available to everyone. Public transport is also easily accessible.

Beside all these resources, property in Rawalpindi is lower. It's an ideal place to dwell in with your family. 

Property for sale in Rawalpindi is divided into independent houses and plots.

According to the research, the following are the best-searched areas in Rawalpindi.

1-Bahria Town Rawalpindi

Bahria Town is, a largest and well - maintained mega - stasis projects. Being an affordable housing society offering state - of - the - art infrastructure and top - mark features, this gated community ranked first in Rawalpindi's list of most sought - after areas when it comes to sales properties. It drew search results for a total of 44.9 percent. That has almost half of the total searches related to the property searched in Rawalpindi.

Among all of the phases, Phase 8 of Bahria town comes to be the most popular one with the total search results of 73.7%.  While, Phase 7 and Phase 4 ranked as the second and third most popular areas, with 8.9% and 4.9% of searches respectively.

The residential area house cost of 5 Marla is between PKR 40 lakh to PKR 1.5 crore,10 Marla houses varies from PKR 1.2 crore to PKR 4 crore and 1 Kanal house for around PKR 1.9 crore to PKR 6.5 crore.

The price of a 1-bedroom apartment in Bahria town Rawalpindi goes from PKR 13 lakh to PKR 1.2 crore, 2-bedroom costs between PKR 18 lakh to PKR 1.8 crore and a 3-bed apartment starts from PKR 55 lakh to PKR 2.1 crore.

For investment in real estate in Rawalpindi, the cost ranges of a 5 marla residential plot within PKR 9 lakh and PKR 75 lakh, of 10 Marla 10 plot varies from PKR 14.5 lakh to PKR 1.7 crore, and plots of 1 Kanal ranges between PKR 30 lakh to PKR 3.5 crore.

Note: The prices of properties vary with different phases and projects.

2-Adiala Road

Adiala Road comes second after Bharia Town in property with 3.8% of total searches. However, Snober City comes on 30.8%, Green Villas, 28.7% and Kehkashan Colony10.4% on the most sought-after areas to buy property with search results.

Houses for sale on Adiala Road mainly include 5 Marla, 10 Marla, and 1 Kanal.

5 Marla houses for sale range between the price of PKR 27 lakh and PKR 95 lakh, 10 Marla home varies between PKR 60 lakh and PKR 1.8 crore, while 1 Kanal house costs around PKR 1.2 crore to PKR 2.9 crore, depending on the project and location.

The residential plots prices go like 5 Marla residential plots start at PKR 6.5 lakh to PKR 30 lakh, 10 marla plot costs PKR 18 lakh to PKR 60 lakh and 1 Kanal plots for sale on Adiala Road cost between PKR 35 lakh and PKR 80 lakh.

3-Airport Housing Society

This society was started as a co-operative housing society for the benefits of Benazir Bhutto International Airport employees in the mid-1990s. However, still, this society appears as a popular area to invest and live in Rawalpindi.

It ranked third on our list of best areas to buy property in Rawalpindi with 2.9% of total searches.

It has four sectors. The last one, Sector 4 appears to be the most popular with the highest number of search results. This sector scored 59.9% on the index, Sector 1, 16.4% of searches and Sector 2 comes on third with 14.6% of total searches.

property in Airport housing society Rawalpindi goes as, a 5 Marla costs around PKR 36 lakh to PKR 1.1 crore, 10 Marla PKR 87 lakh to PKR 2.2 crore, and 1 Kanal houses vary between PKR 1.6 crore and PKR 3 crore, depending on the sector.

The residential plots for sale in Airport Housing Society costs 5 Marlas and 10 Marla with the price range of PKR 15 lakh to PKR 45 lakh and PKR 20 lakh to PKR 50 lakh respectively.

4-Gulshan Abad

Gulshan Abad comes on the fourth position in our ranking of Best Area for Property Sale in Rawalpindi. This society is also located on Adiala Road. It has a total of 2.8% searches on the popularity index.

The costs of 5 Marla house in this area range between PKR 40 lakh to PKR 70 lakh, 10 Marla houses for around PKR 55 lakh to PKR 1.6 crore while, 1 Kanal houses for sale in Gulshan Abad vary from PKR 1.2 crore to PKR 3.5 crore.

The residential plots in the area start from 5 Marla PKR 12 lakh and can go up to PKR 28 lakh, 10 Marla plots cost between PKR 15 lakh and PKR 66 lakh. And 1 Kanal plot costs about PKR 30 lakh to PKR 2.2 crore in Gulshan Abad.

Note: Please note that these prices might vary with the location.

5-Chakri Road

After the Gulshan Abad, Chakri Road comes on the fifth position. It sketched 2.8% searches. Of all the major housing societies located in this area, Blue World City topped the list with 65.9% searches, Al-Mairaj Garden 12.7% and Khanal Homes 10.1% ranked second and third with their searches respectively.

 The price of 5 Marla house in this area ranges PKR 28 lakh to PKR 1.2 crore.

The prices for plots on Chakri Road go like this. 5 Marla plot costs between PKR 4 lakh to PKR 18 lakh, the price of 10 Marla plots varies from PKR 7 lakh to PKR 32 lakh and of 1 Kanal plots starts at PKR 12 lakh to PKR 60 lakh.

Note: The prices of properties vary with different phases and projects.

Ashiana Housing Scheme Faisalabad Scandal

Housing Scheme Overview 

Faisalabad is the third-highly-populated city of Pakistan which has grown to become a major industrial center. It is also a major producer of cotton, silk textiles, dyes, chemical industry, paper printing, cloths and agricultural equipment. On the central location of Faisalabad, where roads and regions are connecting, Government of Punjab has launched the facility of a new housing scheme. It was launched in earlier months of 2018 in various cities of Pakistan by the name of Ashiana housing scheme specially designed for poor families. It is an effort to provide a residential support to poor families. Residents of the scheme can avail the facilities of wide roads, sewerage, transport, electricity, commercial area parks, schools and communication. This scheme offers three Marla constructed houses for low income families. It was decided at its launch that this housing scheme will be dedicated for those families who have income less than 50,000.

Conditions:

Applicants must have to provide the documental proof of residence in Faisalabad along with their ID cards, otherwise application will not be eligible to considered.

Features of the Scheme:

It was started, as a pure effort to provide a support to poor families. Facilities of the scheme that are promised to provide are as follows:

·        A network of wide roads

·        Public parks

·        24/7 security assurance

·        Sewerage

·        Boundary wall

·        Disposal Station

·        PLDC Office

·        Electricity

·        Kids Play Area

·        Other Public Amenities 

Punjab government assures these facilities with 24/7 security and all standard needs of residential and commercial priorities.  

Booking process of Housing scheme:

Procedural steps are as given below.

·        Applicant may download the form, from PLDC (Punjab land development company) website. All divisional branches of Punjab bank of Faisalabad are providing free forms of Ashiana housing scheme.

·        Applicant should be a permanent resident of Faisalabad division, otherwise he will not be eligible for plot allotment.

·        After filling all the necessary information in forms, applicant have to submit the form in nearby BOP branch. Processing fees is Rs. 1000 that must have to submit at the time of submission booking form by applicant.

Estimated Booking Plan:

Estimated price of 3 Marla double story house is 1,560,000. Which is available on a payment plan of 30 months installment is offered by PLDC and 5% discount on cash payment.

According to the mentioned prices down payment is:

Rs. 339,000

In installment plan, monthly installment is:

Rs. 10,000

For possession, applicant have to pay:

Rs. 870,000

BOP also offers bank loan to pay the remaining amount of 870,000.

Scandal of Ashiana Housing Scam:

Former chief of Punjab launched Ashiana housing scheme, a project of 14 billion houses with the hope to construct 50,000 houses for the poor Pakistanis.

After discovering some irregularities, NationAccountability Bureau (NAB) begin an inquiry into the scheme in November 2017. Three subsets of this project are attested for highlighted scams about Ashiana housing scheme including former prime minister Shahbaz Shareef, Fawad Ahmad Fawad and Cheema.

As you have read this article, we like always expect positive feed back and comments from your side.