Best Property Investment in Multan 2021

Best Property Investment in Multan 2021

Best Property Investment in Multan

Multan, also known as the City of Saints, is a city that is famous for Sufism and historical culture. Due to a high population ratio the real estate investment is dense. Numerous housing localities are developing in Multan as a result of recent advancements in property development and lifestyle. The expected present and future of  property investment is looking radiant. This is due to the development of many splendid residential projects and enhanced status of Multan generally. Picking a suitable locality for investment is very important as it can significantly impact the market value, residents’ lifestyle, and commercial trends. Whether you are interested in residential plots or looking to invest in commercial property. Multan is a good decision for property investment due to the following reasons:

  • Potential of Investment: The investment potential is high since the saturation in the property market of Multan is minor. Low saturation provides space, potential, and investment capacity. Additionally, more investment option is readily available close to already established residential settlements and not far away from the city’s center.
  • South Punjab Province: It’s a universally acknowledged reality that prices rise when infrastructure development takes place. A separate South Punjab province is in demand on administrative grounds. The PTI-led government is serious as the South Punjab secretariat has been functional. Residents of Multan have observed development projects in and around.
  • Commercial Activity: The commercial and business activity is boosting due to the  launch of Metro Cash and Carry, Ramada Hotel, and Pearl Continental Hotel in Multan. Moreover, The Metro Bus system has increased feasibility by connecting the opposite ends of the city. These characteristics of big cities will attract business and investment to the city of saints and ultimately grow property prices.

Also read: Multan Real Estate Market Trends 2021

Below is a comprehensive list of real estate projects in Multan, each with its own set of advantages. You can perhaps consider putting money in the areas referenced below for almost 100% financially successful investments with Multan.

 1. DHA Multan

DHA Multan is an avant-garde project and it covers an area of around 9000 acres. The society is facilitating a wide variety of residential and commercial real estate properties, making it an ideal place for those wanting to make the best property investment decision in Multan.  DHA Multan is offering similar benefits and facilities as experienced by the residents of DHA Islamabad, Lahore, and Karachi. The housing society is the most desirable area for real estate investment in the city. The posh residential scheme is located between Mattital Road and Bosan Road, approximately 10 km from the well-known Bahauddin Zakariya University. Moreover, the vast road network links the society to  other parts of the city, making it easily accessible.

 2. Citi Housing Multan

Citi Housing Multan is launched by the renowned developers behind Citi Housing projects in Faisalabad, Gujranwala, Jhelum, and Sialkot. Citi developers have presented the  residents with superior amenities required for a comfortable lifestyle at relatively affordable prices. The housing society is located on Bosan Road Lutfabad in the vicinity of Bahauddin Zakariya University. The gated community is  subdivided into multiple blocks encompassing some of the most well-known housing societies. Moreover, Multan International Airport is approximately a 21-minute-drive from the neighborhood, whereas the tourist attraction of Ghanta Ghar and is reachable in 26 minutes by car. Hence, Citi Housing is one of the most prominent real estate investment options available in Multan.

 3. WAPDA Town, Multan

WAPDA Town is viewed as one of the top areas for real estate investment in Multan. The well-planned residential scheme of WAPDA Town offers profitable opportunities to genuine buyers and investors in the city. The administration behind WAPDA is WAPDA Employees Cooperative Housing Society (WECHS) Multan and the society is split into three phases. Salient features that make WAPDA Town one of the best property investment locations in Multan include its modern infrastructure, stunning plan of residential and commercial sectors. The access to civic amenities, lush green parks, spacious mosques, community centers, well-equipped hospitals, banks, cafes, educational institutes are some other amenities available.

 4. Multan Public School Road

Multan Public School Road is one of the most prominent and old routes in the city. It connects with some of the most prevalent neighborhoods and upcoming housing societies in the swiftly developing metropolis. The road is connecting with Mattital Road at one end and Bosan Road at the other. Furthermore, it gets its name from Multan Public School, which is one of the earliest and largest education institutes in Southern Punjab. Some of the most renowned schemes located on and in the vicinity of Multan Public School Road include

  • Royal Orchard,
  • BZU Employers Colony 2,
  • Model Town A,
  • Teachers Colony

For further information: Royal Orchard Multan

5. Model Town, Multan

Model Town Multan is a shared Multan Development Authority and the Evacuee Trust Property Board project. Furthermore, the Northern Multan Revenue Authority has given the approval. The housing scheme is designed for  provision of serene environment, and luxurious services at affordable prices. Model Town Multan provides all the facilities required for every household and includes educational institutes, shopping centers, emergency medical centers, and surgical hospitals. It is indeed one of the best property investments in Multan 2021.

Conclusion

Multan is a primary real estate spot due to growing job market, political activities, rising population, increased employment and investment chances. Hence, the value and demand of the projects mentioned above is higher than any other project and makes it the best property investment in 2021

Individuals must take all property investment decisions wisely; Thus, we at Estate Land Marketing are happy to guide our clients.

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Best Property Investment in Peshawar in 2021

Best Property Investment in Peshawar 2021

The City of Flowers

As a capital of the province of Khyber Pakhtunkhwa, Peshawar,  known for its assorted flower varieties, is now also acclaimed for many development projects and a hastily growing real estate market. Peshawar is experiencing several positive developmental changes, especially for the last ten years. These affirmative steps and improved conditions of Peshawar serve as reasons for the development of the real estate sector. Consequently, people’s interest is actively increasing  in it and makes it the best property investment in Peshawar 2021

Property Investment in Peshawar’s  forecast looks excellent. Local and international investors express involvement in the Pakistani property market. The town of flowers is currently thriving with competitive market patterns. These have resurfaced after experiencing a downfall due to the pandemic. Fortunately, the market activity is fast increasing in areas where significant infrastructure improvements have taken place. As a result, the real estate in this metropolis is improving in a variety of ways. Fortunately, due to new developments and growing buyer interest, the industry for all things real estate is making progress.

Read about: Peshawar Real Estate Market Trends 2021

Best Property Investment in Peshawar 2021

As reported by the latest census results, Peshawar is the sixth most populous city in Pakistan. The population rose from 982,816 to 1,970,042, resulting in a substantial increase over the last 19 years. This analysis leaves Peshawar illuminated in Pakistan’s overall property market, which explains why it remains a top choice for KPK residence and investment. Thus, for a superior lifestyle and affordable housing, numerous people from nearby regions migrate here. Property Investment in Peshawar is very desirable in the areas listed below

Some of the finest property investments in Peshawar 2021 include:

Hayatabad Peshawar

Hayatabad leads the pack when it comes to making property investments in Peshawar. An ideal location on the northern edges of Peshawar and situated near the border of Torkham, the area is a pleasant fusion of urban and rural settings. Moreover, Hayatabad comprises seven phases. The society boasts an array of carpeted roads, lush green parks, secured residential units, and prominent educational institutions. As a result, Hayatabad makes it to our list of best property investments in Peshawar due to the many investment opportunities available and highly affordable housing options.

Considering its optimal position on the junction of two of the city’s most important roads – Peshawar Ring Road and GT Road –It will not be an exaggeration to say that commuting to other parts of the town is exceptionally effortless for residents of this area.

DHA Peshawar

DHA Peshawar is a beautiful addition to the splendid skyline of the City of Flowers. Located near Sheikh Abad and only a few kilometres from Hayatabad, DHA Peshawar is a top choice for individuals who wish to settle or invest in real estate in the provincial capital. It hosts a world-class living environment with everything one needs to live a quality lifestyle conveniently made available at their doorstep. The gated community is providing  consistent growth and advancements in the facilities to raise its residents’ standard of living and create several investment opportunities. DHA is one of the best property investments in Peshawar 2021.

Read further: Is real estate a good investment in 2021

Warsak Road, Peshawar

Warsak Road is another option for property investment in Peshawar. It is Located near Peshawar Ring Road and crossing National Highway (N-5), Warsak Road is commonly known for hosting some of the city’s best and exclusively designed housing schemes.

Plot sizes range from 5 Marla, 10 Marla, 1 Kanal and 2 Kanal. The presence of organized residential schemes and robust infrastructure is beyond comparison and works as a magnet for investors and buyers. Another riveting fact about this road is that it connects to Warsak Dam Road later and leads to Kabul River, a major tributary of Pakistan.

Gulbahar, Peshawar

Gulbahar is another old and planned housing scheme in Peshawar. It is positioned between two of the most significant arteries of the city – Peshawar Northern Bypass and National Highway (N-5) – the project provides immensely affordable options concerning residential units. Composed of wide boulevards running across the society, Gulbahar grants ample facilities and amenities, all available at walking distances. From spacious mosques to world-class emergency centres, all facilities built close to residential units to facilitate the inhabitants. Therefore, Gulbahar is one of the top property investment in Peshawar.

Regi Model Town

Regi Model Town is a project of Peshawar Development Authority, and it is one of the city’s oldest housing projects. It is acknowledged over the past five years for its dense population and splendid growth. With its secure neighbourhoods and green spaces, it is ideal for individuals interested in raising a family; and immensely appealing to potential buyers.

The town is split into five zones, from I-V, containing five marlas, ten marlas, and one Kanal residential plot. Zones III and IV is more developed, and comparatively, the price is also higher than in Zones I, II and V, mainly due to differences in development scale. Regi Model Town is located opposite Hayatabad, where Jamrood Road separates the two, and its primary access route is Nasir Bagh Road, where it has a passage point. A similar path leads to DHA’s fundamental passageway.

Conclusion

Investing in any of these areas of Peshawar comes with its own sets of advantages. The pricing might be a little on the upper scale for moderately income individuals, but the area is considered well secured and extremely popular among genuine investors. In case one is looking for further information regarding property investment in Peshawar, Estate Land Marketing has you covered.

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Lahore Smart City launches Commercial Plots

Lahore Smart City launches Commercial Plots

Lahore Smart City launches Commercial

Lahore Smart City (LSC) is an influential project developing under Future Development Holdings and Habib Rafiq Limited. The society of Lahore Smart City launches commercial plots. The dedication towards providing excellent lodging options available to the inhabitants of Lahore is resulting  in them apportioning a land of 20,000 Kanal for the venture. Moreover, It is located on Lahore Bypass near Lahore Interchange, which is easily accessible through the Grand Trunk Road Lahore and Lahore-Sialkot Motorway. The Lahore Smart City is divided into three main blocks; General Block, Overseas Block and Executive Block.

In addition, A few salient features of the society include top-notch security, health clubs, educational institutes, shopping malls, sports districts and hotels. Furthermore, Lahore Smart City’s No Objection Certificate (NOC) is officially approved by Lahore Development Authority (LDA). However, first availability is of residential plots only , but the ground-breaking good news is that recently in August 2021, they also launched commercial plots.

Regarding more information about the society, read: Lahore Smart City

Lahore Smart City’s Commercial Plots

LSC’s latest briefing for investors is the launch of commercial plots of  4 Marla, measuring 100sq. Yards and 8 Marla, measuring 200 sq. Yard.

Location

The commercial plots is located in the executive and overseas block of Lahore Smart City. In addition, Executive block commercial is situated adjoining a residential area that is easily accessible via Executive Boulevard and Executive block is  residing in front of the sports district. Furthermore, the overseas commercial sector is located opposite the theme park, near the gate precinct, which is the entrance of the society. In addition, the entire overseas area lies along the entrance area of Lahore Smart City; therefore, attracting many investors. Hence, It is one of the best investments and a business opportunity for the people of Lahore. It is available for sale on a first-come, first-served basis.

Trend

The commercial plots is very appealing; thus,  it is limited, and demand is very high. Furthermore, the price is very reasonable at the current time. Unfortunately, as the demand is considerable and the availability is less, the commercial plot is resurfacing with a huge premium, nearly one million above the actual down payment that has to be paid. Moreover, LSC recently announced that they will not launch any new commercial plots for the next 1.5 years. As a result, the availability is limited, and the price trend is expected to increase over time. Capital Smart City is rendering great returns over time, and it is anticipated that Lahore Smart City’s commercial property has even higher potential.

If interested in properties in Islamabad, read more: Taj Residencia

Pricing

The 4 and 8 Marla property sizes is ideal for small to medium rise commercial buildings and serve as an opportunity for businesses to target these areas for future ventures. Moreover, availability is limited, it is one leading cause of price increment in the future.

The cost for the commercial plots has been stated below:

Executive Block

  • 4 Marla is available for Rs. 8,950,000
  • 8 Marla is available for Rs. 17,450,000

Overseas Block

  • 4 Marla is available for Rs. 9,450,000
  • 8 Marla is available for 17,950,000

Furthermore, quarterly instalments plan is introduced, and total payment is to be cleared in 14 quarterly instalments within three years to enhance the feasibility of customers. For booking charges of commercial plots, is a 10% down payment in conjunction with 7-10% of the total plot price as property own by means of confirmation charges.   The increase in  demand and low supply is causing the 7-10% property own. The remaining dues systematically cleared in quarterly instalments.

Certain terms and conditions apply:

  • A 10% extra charge on the total price is taxed for certain category plots such as a corner, park facing, and main road.
  • 15% of the total price is charged additionally for Main Boulevard plots.

The payment plan has been mentioned below:

Lahore Smart City launches Commercial Plots

Conclusion

The Lahore smart City is serving true to its title in reality. It is a smart city with all the modern development available. It is created with all urban arranging town standards and is maintaining profoundly robotized mechanisms. Moreover, the Society is consistently utilizing technologies, housing data, and other information to improve infrastructure and solve problems. The launch of commercial plots promises high-profit margins that the investors  expect in the future.  Moreover, FDHL and Habib Rafiq is highly dedicated to making it the most appealing society of Lahore and Pakistan with all the modern luxuries.

Contact Estate Land Marketing for more information regarding bookings and ensure that you do not let this fantastic opportunity run out. Our highly trained professionals who have expertise in this field will guide you throughout the process. Call or visit us; we will be happy to help our clients!

 

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Residents of the Capital have called for road maintenance

Residents of the Capital have called for road maintenance

Residents of capital demand road repairs. Residents of sectors F-6 and G-7 have called on the relevant authorities to prioritize the rapid repair of damaged roads, which are generating traffic congestion and putting the public’s safety at risk.

According to residents, the majority of roads in various sectors of the capital city are in chaos because they have not been re-carpeted in many years, and driving on these decaying roads has proven to be a source of frustration for motorists. Mounds of mud and sand have gathered along the dug-up roads as a result of the recent torrent of rain, creating an unsafe driving condition.

Read more with EL news : Past govt accused for mushroom growth of housing societies in Rawalpindi

Traveling on roads in poor condition was not only time-consuming, but it also posed a hazard not just to automobiles but also to pedestrians. Sector F-6 and G-7 residents have called on the authorities to prioritize the rapid repair of damaged roads, which are not only generating traffic congestion but also putting the public’s safety at risk.

Read more with EL news : Construction of housing units at Rs463 billion : PM

With the recent downpour of rain, mounds of mud and sand have accumulated along the dug-up roads, creating a hazard. The answer to this problem will be found at the moment of necessity, and the residents are eager to have it resolved as soon as possible. As a result of this situation, their everyday routine is being disrupted. Roads need to be fixed, and the government must undertake this task on its own to ensure that the public is not inconvenienced. It is the responsibility of the government to address such issues, and if they are brought to their attention, they will be addressed. The effectiveness of government is measured in this manner.

Keep up with Estate Land Marketing for news and updates.

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Past govt accused for mushroom growth of housing societies in Rawalpindi

Past govt accused for mushroom growth of housing societies in Rawalpindi

Past government accused of mushroom growth of housing societies in Rawalpindi. The Rawalpindi Development Authority (RDA) stated that previous regimes spawned housing societies in the garrison city.

RDA Chairman Tariq Mehmood Murtaza said the civic authority was a legal organization that oversaw the city’s development and planning. He suggested existing laws needed to be strengthened. He said the RDA has approved the TORs for rewriting Rawalpindi’s master plan and requested expressions of interest from reputable consultancy firms. These are 25-year plans that include all sectors and prioritized operations in the district, he said.

RDA chairman claims authority acted to stop illicit schemes after approving new projects in 2013

It drew up Rawalpindi’s first master plan in 1968 as the city expanded haphazardly. But never implemented it, and over 30 years later, a board of authorities developed another master plan for 1996 to 2016.

According to the chief of Rawalpindi Development Authority, due to a lack of professional competence and capability, unlawful housing designs were forming without authorization from the defunct district council.

The Rawalpindi Development Authority took swift action to stop mushroom growth of housing societies and illegal housing developments. The Punjab government decided late in 2019 to send approved and pending housing proposals to the RDA. Housing societies mushroomed throughout the TMA approval period, he claimed.

From 2013 to 2019, the RDA approved six proposals and took legal action against the remainder under the Punjab Private Housing and Land Subdivision Rules 2010.

Read more with EL news : A report claims the SBP package will primarily help big builders

During 2013-19, the RDA issued 292 legal notifications, 78 challans, 99 FIRs, locked 106 offices, and removed illegal housing plan gates and signs. The district collector was also asked to cease land transactions in these schemes, and utility departments including Iesco, SNGPL, and PTCL were asked not to extend their services. In addition, the city’s marketing/booking offices were sealed. The RDA website now has the scheme status. He claimed the RDA had asked the Pakistan Electronic Media Regulatory Authority (Pemra) not to run commercials for unlawful housing societies. The government of Pakistan and the Federal Investigation Agency (FIA) have also been requested to block bank/social media accounts of illegal housing society’s owners/followers.

He distinguished between agricultural and non-agricultural land. Except for a few tiny plots, the housing developments are built on vacant/barren land.

“The The Rawalpindi Development Authority is fully implementing the Punjab government’s latest agricultural land notifications,” he stated.

Plans and approaches differ between the Punjab Local Government Land Use Rules 2020 and the Punjab Development Authorities Rules 2021.

The Local Government Rules 2020 do not cover peri-urban areas and only offer a restricted range of development zones. Agribusiness is one of the principal uses of land in big cities where development authorities have been established, he added. The former district council used to have authority over the major sections of Rawalpindi, where new and under-construction housing complexes exist (MCR).

He stated that the MCR and TMA were in charge of construction control in regions where criminal organizations mushroomed, but they failed.

He claimed they delayed the modification of Rawalpindi’s master plan since 2016 due to jurisdictional issues.

Keep up with Estate Land Marketing for news and updates.

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High rise buildings are not allowed in "red zone" of city

High rise buildings are not allowed in “red zone” of city

Efforts to allow high-rise in the city’s “red zone” in the violation of official rules. Even though the government has already designated a vast area of over 2,000 Kanals in the central business district – Gulberg, Ferozepur Road, and Walton Road – for high-rise construction to promote the city’s vertical growth, some Punjab government officials appear desperate to amend the Government Area Housing Scheme (GAHS)-2006 (amended) and relax rules to allow cons.

A powerful business tycoon is launching the project on a plot of land measuring approximately 17 kanals at China Chowk (Racecourse Road), close to important buildings such as the Governor House, the provincial office of a strategic institution, and GOR-1, among others, in an area known as Lahore’s Red Zone.

“We are perplexed as to why this is being done with such haste. For example, if the laws are changed to enable the construction of a 332-foot tall structure, the value of a plot in the area will suddenly skyrocket to nearly 15 times its current value (Rs10 billion to 150bn). Additionally, it will pave the path for future projects of this nature in such a sensitive area,” an official source familiar with the matter told Dawn.

“When the government has already permitted such skyscrapers in the central business district/central business district development authority and the Ravi Riverfront Urban Development Project under the regulations of the Ravi Urban Development Authority (RUDA), why are efforts being made to permit such structures in the city’s high-security zone?” he inquired.

Wasa, Tepa, and LDA all expressed opposition to the scheme.

According to a plan submitted to the concerned quarters, a private builder intends to construct a commercial-combined-apartment building on a plot measuring 16 kanals, 15 marlas, and 31-Sft (75406-Sft) with a total covered area of 1136258-Sft (property Khasra No.15611/47/1, Khatoni No 5876 in Mouza Mozang, Lahore.

According to the updated master plan for Lahore Division, the proposed project is located in the Residential Land-Use Zone. On the other hand, the Race Course Road is featured in List “A.” (approved road for commercialization). However, the Lahore Development Authority (LDA) permitted commercialization of the instant property on payment of a charge of Rs108.894 million without examining the relevant requirements of the GAHS-2006 laws, rules, and regulations. According to the modified master plan of GHAS-2006, the site is located within a two-kanal residential zone.

After receiving an application in March 2019, the Lahore Metropolitan Corporation’s responsible officials expressed objections to the plan in April 2019, followed by another application from the builder firm to the parent department that same month.

The agency also solicited opinions from the corporation that month, which it received in May.

The department formed a committee to request that a summary of the report be sent to the chief minister and the cabinet committee. The committee convened for the first time in March of last year. In August of last year, the cabinet committee established another group that had assembled twice previously on this subject.

Read more with EL news : A report claims the SBP package will primarily help big builders

According to another document, the Association of Builders and Developers of Pakistan (ABAD) also filed an application with the Punjab chief secretary on April 7, this year, expressing their support for the vision of thriving the construction industry and housing sector, as well as boosting the city’s vertical growth. The ABAD chairman explained the GAHS’s history, including its notice and legal status, in the application. He noted that to achieve the prime minister’s vision of an abrupt increase of residential units, it was necessary to adjust GAHS restrictions for land’s optimal use within its present radius. Based on these grounds, the chairman requested that a radius of 1,200 feet around the Governor House’s perimeter wall be designated and the remainder of the region be excluded from this concept.

A high-level committee has already been established to consider this matter. According to the document, during its first meeting in August last year, the committee asked the chief corporation officer (CCO) and metropolitan officer (planning) to conduct a field assessment of the land usage and height of buildings inside the GAHS’s existing boundaries.

High rise buildings are not allowed in “red zone” of city.

Additionally, it was determined to investigate the built-up area on the ground to determine whether certain land areas should be classed as commercial areas/business zones, considering their location and economic potential. Finally, participants in the discussion emphasized the value and conservation of green open spaces within the GHAS.

The officers were also told to divide the GAHS into four zones to undertake the necessary survey using satellite imagery during the discussion. Zone A (bounded by Shahrah-e-Awan-e-Tijarat, The Mall, Queens Road, and Lawrence Road), Zone B (bounded by Shahrah-e-Awan-e-Tijarat, Jail Road, Canal Bank Road, and The Mall), Zone C (bounded by Canal Bank Road, Sundar Das Road, Davis Road, and The Mall), and Zone D (bounded by Canal Bank Road, Sundar Das Road, Davis Road, and The Mall (area bounded by The Mall, Egerton Road, Abbot Road, Empress Road, Durand Road and Sundar Das Road and any other remaining space).

Under the committee’s conclusions, we surveyed the current land use and building heights inside the existing GAHS region. The MCL suggested a revised map of the GAHS based on the survey findings, taking the ABAD chairman’s recommendation into account, by limiting the GAHS jurisdiction by approximately 1,200 feet from the outer wall of the Governor House along existing routes for efficient enforcement. With this proposed amendment, the GAHS boundary was extended from Faisal Chowk along Queens Road to Lawrence Road to Race Course Road (from China Chowk to the Children Complex Library) to Link Club Road to Club Chowk, then from Club Chowk to Sundardas Road (along the road that connects Aitcheson College to the principal’s and others’ residences) to Mayo Garden to Durand Road along with Queens Marry Coll. In addition, it proposed that the GHAS’s land use provisions and other by-laws stay unchanged. Efforts to allow high-rise in the city’s “red zone” in the violation of official rules.

According to the minutes of a meeting last month, presided over by a minister, the participants unanimously agreed that the Lahore deputy commissioner (DC), in collaboration with the CCO, would conduct a comprehensive security audit of the proposal to limit GAHS to approximately 300 meters from the outer boundary of the Governor House and submit a report.

According to another source, the concerned quarters should evaluate a region before permitting such a massive project. And suppose it lies within a controlled building area (CBD). In that case, the government may legally announce and transfer it to the CBD Authority (which was recently founded for this reason in the instance of Lahore) for infrastructural upgrades, rather than allowing skyscrapers without prior planning. High rise buildings are not allowed in “red zone” of city.

“The project is located within the notified area, GAHS, where such a height is not permitted for the security and other reasons, including preserving the area’s holiness and unique character,” he explained. “It is a matter of height, as well as GAHS-2006 (as modified), which prohibits such structures. The LDA’s general bylaws, rules, and regulations, which the MCL also accepted, limit structures on such a route to 90 feet in height. That is why efforts are being made first to exclude this area from the GAHS and then to relax the rules imposing a 90-foot height restriction to allow construction up to 332 feet,” the source claimed, citing the Rawalpindi Ring Road as an example of how they changed the rules and laws to benefit developers.

Since the Lahore DC, commissioner, MCL administrator, and CCO were unavailable for comment despite repeated calls from this reporter, Chief Engineer Abdul Razaq Chauhan of the Traffic Engineering and Transport Planning Agency (Tepa), who attended a meeting last month as a member of the committee, stated that the LDA, Tepa, and Wasa were opposed to the skyscraper construction.

“Wasa asserts that it will impose an undue load on the water supply and sewerage systems. We (Tepa) believe it will exacerbate traffic congestion on surrounding roads, while the LDA notes that current ordinances prohibit development to that height,” he added.

Efforts to allow high-rise in the city’s “red zone” in the violation of official rules.

Keep up with Estate Land Marketing for news and updates.

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best property investment in karachi 2021

Best Property Investment in Karachi 2021

Best Property Investment in Karachi

Situated on the coastline of Sindh province, Karachi stretches over an area of 3,782 km sq. Hosting around 19 million people, and is the largest city in Pakistan. Karachi is one of the country’s leading commercial hubs, offering many  residential, business, and investment opportunities. As a result, Karachi’s property market is filled with the best options that one can consider for investment in 2021.

The metropolitan center is a fusion of linguistic, ethnic, and religious diversity like a striking palette of different colors dissolved together. Pakistan’s two largest seaports, The Karachi Port and Port Bin Qasim, are located here. It is unarguably a primary industrial and financial center that contributes significantly to the country’s gross domestic product (GDP). The lively city is propelling  farther onto the global economic stage with the beginning of the China-Pakistan Economic Corridor (CPEC). For investment in the city’s latest and modern real estate developments.

Karachi offers various attractions and activities. Ranging from sandy beaches to conventional bazaars, several farmhouses, modernistic shopping malls, water parks, top gyms, and cinemas. Moreover, with highly developed infrastructure, consisting of advanced educational institutions, top-notch healthcare facilities and hospitals, tourist attractions, and various real estate projects, Karachi offers a complete and comfortable life for its residents and investors.

If you’re contemplating living in Karachi or looking for investment purposes, Estate Land Marketing brings you a list of the finest property investment in Karachi for the year 2021.

1. Scheme 33, Karachi

Scheme 33 is, indeed, one of the most soaring areas for real estate in Karachi, where growth as an investment purpose seems profitable. The scheme is  located in the center of the city, ensuring easy access to the necessities of life. Hence, the societies in Scheme 33 have enticed large inhabitants to be housed there. A prominent locality encompasses several important commercial and residential areas distributed over 54 sectors; scheme 33 contains more than 293 housing societies, including Lawyers Colony, Gwalior Cooperative Housing Society, Gulshan-e-Kaneez Fatima, Saadi Garden, etc.

In addition, the area is well-connected with numerous essential routes. Scheme 33 features all the utilities, including a developed educational infrastructure of schools, colleges, and universities, healthcare facilities, banks, mosques, parks, restaurants, shops, etc. Therefore, Scheme 33 is an optimal option available in the City of Lights concerning property investment purposes.

2. Defense Housing Authority (DHA), Karachi

DHA Karachi is another prominent name when it comes to real estate investment in Karachi. The housing scheme is an excellently designed project with a terrific approach with a resident-friendly city. Regarding healthcare, education, entertainment, and accessibility. Situated within the Clifton Cantonment, it serves as one of the most affluent neighborhoods in the provincial capital.

The rapidly developing housing scheme covers 20,000 acres of land and is divided into 8 phases. DHA is easily accessible from anywhere and strategically situated at a distance of 56 km from the center of Karachi, 35 km from the Karachi Airport, 26 km from the Super Highway Toll Plaza, and approximately 120 km from Hyderabad City. DHA City’s future value is expected to rise as Karachi is now set to develop towards Hyderabad.  Various future projects will also develop in the same territory as DHA making it a very prime location in the forthcoming years. Therefore, this society is another excellent project for property investment in both the commercial and residential sectors.

3. Bahria Town, Karachi

Bahria Town is one of the most searched locations of the provincial capitals, making it another prominent area to invest in real estate. The  immensely secure, gated community spreading across an area of 46,000 acres offers quality living and state-of-the-art amenities. It is located at a distance of 9-km from Super Highway and thirty minutes away from the Jinnah International Airport The housing scheme has successfully attracted the attention of both local and overseas Pakistanis by featuring an extensive portfolio. Portfolio contains Bahria Homes, Bahria Greens, Bahria Apartments, Bahria Sports City, Bahria Farmhouses, Bahria Icon Tower, Bahria Heights, and Jinnah Avenue Commercial, all within the locale.

Also Read: Bahria Greens Karachi

4. Gulistan-E-Jauhar, Karachi

Gulistan-e-Jauhar spreads over 20 blocks. The housing society is a leading location among middle-class families, presenting affordable real estate options. It one of the rapidly selling areas in Karachi. Gulistan-e-Jauhar stands among the fifth most popular area in the city that has materialized in 7.5% of the total searches done by property buyers. The locality is readily accessible from the city’s major arteries, including Shahrah-e-Faisal, Rashid Minhas Road, with Super Highway and Northern Bypass on the other end. Jinnah International Airport adds tremendous value to the location of Gulistan-e-Jauhar as it is located at a 10-minute drive from the area. Block numbers 12, 13, and 15 are the three top-performing blocks in the area.

5. ARY Laguna, Karachi

ARY and DHA,the two most trusted and most prominent groups of Pakistan, are introducing an artificial lagoon in Pakistan. In fact, the whole of South Asia, where 21st-century urban living will be reevaluated. ARY Laguna is another name of secure profits. ARY Laguna features man-made beaches that provide a novel vision and has cutting-edge technology. It offers unlimited lagoon amenities, scenic sandy white beaches, and excellent swimming and water sports conditions in an environmentally friendly ambience. Moreover, ARY Laguna features 1, 2, 3 & 4-bedroom apartments and spacious penthouses, apart from these luxuries.

Conclusion

Besides the areas mentioned above, many other localities in Karachi are liked among those looking for property investment in Karachi, such as Gulshan-e-Iqbal Town, Malir and North Nazimabad. Other cities of Pakistan also offer many other ultra-modern projects with the best property investment opportunities in addition to Karachi. Details of which you can easily find on our blogs page.

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Despite large housing projects, KP lacks 1 million homes

Despite large housing projects, KP lacks 1 million homes

Despite large housing projects, KP lacks 1 million homes. Khyber Pakhtunkhwa still lacks nearly one million housing units, told the provincial legislature.

During question time, housing minister Dr Amjad Ali Khan stated that the province’s housing needs ranged between 700,000 to 900,000. “Despite many projects, there remains a huge lack of housing units in the province,” he stated in response to MMA MPA Inayatullah Khan.

Agri-land for housing plans in the province? His agency has been tasked with identifying empty land and sharing its details with the deputy commissioners appointed to the combined tribal districts.

Dr Amjad said five major housing initiatives would be completed by the end of the year. He said they finished 95% of the civil work at the Jalozai housing complex in Nowshera.

Five housing projects to be finished by year’s end

The minister said the department had paid Wapda Rs1 billion for grid stations to electrify the project. Construction was nearing completion on high-rise apartments in Hayatabad, Havelian Township Abbottabad, Kohat, and Peshawar. “Three housing developments are finished, and ten are in the works,” he stated.

On the outskirts of Peshawar, Dr Amjad stated, the federal ministry of housing and works has bought 10,000 kanals of land for the Naya Pakistan Housing Program. He stated that the ministry has already sent out offer letters to scheme winners. Despite massive housing projects, KP lacks 1 million dwellings.

It will be settled very shortly, added the minister. A comprehensive master plan for new housing complexes should be developed by the provincial administration, according to MPA Inayatullah.

Read more with EL news : The PU budget has been approved at Rs12.6 billion

He suggested the government prohibit home developments on farmland. A long illness claimed the life of legendary journalist Rahimullah Yousafzai.

On the point of order, labour minister Shaukat Ali Yousafzai stated Rahimullah Yousafzai was a professional institution. He said Mr Rahimullah fought for journalists’ rights.

Afghanistan and the Taliban, according to MPA Maulana Lutf Rehman. He claimed Mr Rahimullah’s reporting and articles benefited Pakistanis and Afghans. A legend said opposition MPs, Mr Rahimullah encouraged readers with essays and news reports.

During the debate on hiring non-local nurses to the newly combined tribal districts, Baluchistan Awami Party member Bilawal Afridi caused a stir. In Oct 2020, the directorate posted 481 male and female nursing positions for tribal regions. Just 29 persons from the combined districts were recruited, while 452 came from Swat, Dir and Chitral.

Speaker Mushtaq Ahmad Ghani allowed Labour Minister Shaukat Yousafzai to respond to the lawmaker’s rant against the health directorate. But Mr Afridi, accompanied by ANP MPA from Mohmand tribal district Nisar Khan, caused a stir. Despite massive housing projects, KP lacks 1 million dwellings.

The chair told the protesting MPs to discuss the motion in detail once the minister clarified the issue. Both MPAs ignored this and proceeded to protest. “What these fools are doing,” irritated Speaker Ghani, referring to the protesting lawmakers. He even threatened MPA Nisar with expulsion from the house if he didn’t change his actions. It was adjourned without finishing the plan. Despite massive housing projects, KP lacks 1 million dwellings.

Keep up with Estate Land Marketing for news and updates.

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A report claims the SBP package will primarily help big builders

A report claims the SBP package will primarily help big builders

The SBP package will benefit only important builders, according to a report. The current State Bank of Pakistan (SBP) incentive package for the building and housing sectors will assist influential builders in high-end financing housing. Still, it will fall short of the national objective of generating affordable housing units in the country.

This observation was made by Tabadlab, a private research business based in Islamabad. It cast doubt on the State Bank’s regulatory position in the housing and construction industries.

This responsibility, it stated, should be assigned to the Real Estate Regulatory Authority (RERA), for which an enabling statute had previously been passed by parliament.

“Likely, the new guidelines to encourage financing of housing units in under-construction projects will end up supporting the construction of luxury flats by known builders,” Tabadlab said. Additionally, it stated that while this would assist the SBP in meeting its construction financing targets, it would fall short of providing more affordable housing units in the country, which is allegedly the stated policy objective of the push for easier construction financing.

“It will also make a negligible contribution to Pakistan’s 10 million housing unit shortage,” it stated in a policy analysis released on Friday.

The study highlighted that due to a lack of fundamental changes to energise the economy, the SBP had been charged with boosting various sectors for many years, either through concessionary financing for exports, renewable energy, SMEs, or industrial expansion.

The SBP has also encouraged development operations over the last several years, including mandated targets for housing finance and construction financing and managing interest rate subsidies on behalf of the government for low-cost housing and programmes such as the Kamyab Pakistan Program.

It stated that the proposed SBP Amendment Act 2021, which sought to prohibit the central bank from engaging in such policy influencing and market-shaping activities, has been shelved for the time being. The government continues to rely on the SBP to assist in achieving its broader policy objectives, with the construction financing guidelines issued on Sept 10 serving as an excellent example of such pursuit.

The SBP’s attempt to promote the construction sector and assist the government in meeting its housing supply target is not problematic in spirit, the paper noted, but rather than providing broad guidelines to commercial banks and allowing them to develop their criteria to accomplish these goals, the SBP was formulating very specific policies, intruding into a private sector.

Read more with EL news : Construction of housing units at Rs463 billion : PM

Additionally, “the SBP is likely to ensure micromanagement of the entire construction credit process” due to this. The study stated that autonomous RERAs in each province were critical for consumer protection and increased openness in the real estate sector.

According to the report, builders and developers resisted RERA’s implementation because it increased transparency and responsibility in the real estate market.

The advantage of RERA is that regulation applies to an entire region or province, requiring all builders within that territory to comply. However, when SBP requirements intrude on RERA functions, they will apply solely to builders who obtain construction funding from construction lenders.

On the negative side, builders who use construction financing will be required to follow RERA requirements, which may increase the duration and overhead expenses of the project in some situations when compared to projects undertaken by builders who do not use construction financing.

As a result, builders may be discouraged from obtaining construction financing and prefer to complete projects using investors’ equity or purchaser deposits. It would have the opposite impact of the effects the SBP wishes to instil in the housing and construction finance markets.

Keep up with Estate Land Marketing for news and updates.

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Construction of housing units at Rs463 billion : PM

Construction of housing units at Rs463 billion : PM

The PM announced the construction of 86,323 housing units at Rs463 billion. According to information provided to Prime Minister Imran Khan on Thursday, more than 200,000 jobs are being created in construction activities in Pakistan. In addition, according to data provided to the prime minister on Thursday, the Ministry of Housing and Works is constructing 86,323 housing units at a total cost of Rs463 billion.

It was the subject of a meeting of the National Coordinating Committee for Housing, Construction, and Development, which was presided over by Prime Minister Imran Khan, who also informed the committee that will create economic activity totaling more than Rs2314 billion.

Several government officials were in attendance, including Finance Minister Shaukat Tarin, State Minister for Information and Broadcasting Farrukh Habib, Prime Minister’s Special Assistant Dr. Shahbaz Gill, State Bank Governor Reza Baqir, and Chairman of New Pakistan Housing and Development Authority Lt-Gen Anwar.

Read more with EL news : The PU budget has been approved at Rs12.6 billion

Ali Haider (retired) and other senior officers were involved in the incident.

Provided an update on the current cadastral mapping project in Lahore to the premier. As previously stated, he has been informed that the project is on schedule and will be completed by November 15, 2021. The premier urged the responsible authorities to concentrate their efforts on digitizing Lahore land records as soon as feasible to provide relief to the common person from land-grabbing mafia and encroachment activities. The PM announced construction of 86,323 housing units worth Rs463 billion.

Also discussed was the progress of several housing projects being carried out by the Ministry of Housing and Public Works. Prime Minister Narendra Modi reaffirmed that providing vertical housing in high-rise structures is a top priority for the government. He stated that it would help meet the housing needs of the fast-rising population. In addition, the digitalization of cadastral mapping will also help to ensure the efficient utilization of urban land.

Keep up with Estate Land Marketing for news and updates.

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