LDA will create an e-bidding portal for Pakistanis living abroad

LDA will create an e-bidding portal for Pakistanis living abroad

/in /by

LDA will create an e-bidding portal for Pakistanis living abroad. According to an article in ness on July 19, the Lahore Development Authority (LDA) has decided to set up an e-bidding portal for public auctions of plots for Pakistanis living abroad.

Read more with EL news: FWO obtains expansion contract for the PWD to Grand Trunk (GT)

Director General of the LDA Chaudhry Muhammad Ali Randhawa led a meeting to talk about how to get the e-bidding system up and running. During the meeting, the people there also talked about the transfer of properties for Pakistanis living abroad. At the meeting, they also talked about an online portal that could be used for other things.

The director general of the LDA said that the online portal will protect the property of Pakistanis living abroad and stop counterfeiting. He went on to say that these efforts will make it easier for people to understand how LDA works.

Director (DG Headquarters) Akbar Nakai, Director of Administration Imran Ali, Director of Computer Services Abdul Basit Qamar, and other important officials were present at the meeting.

Keep up with Estate Land Marketing for news and updates.

Share this:
FWO obtains expansion contract for the PWD to Grand Trunk (GT)

FWO obtains expansion contract for the PWD to Grand Trunk (GT)

/in /by

FWO obtains expansion contract for the PWD to Grand Trunk (GT). News sources said that on Monday, July 18, the Capital Development Authority (CDA) gave the contract for expanding the expressway from PWD to Grand Trunk (GT) Road to Frontier Works Organization (FWO). As a result, the projects that will cost PKR 10.9 billion will be done in 18 months.

Read more with EL news: Establishment of a panel to evaluate the viability of RUDA & District projects

According to reports, the CDA asked for expressions of interest (EoI) for expanding the expressway from two lanes to four lanes under section 42(F) Rules of the Public Procurement Regulatory Authority (PPRA), which says that only government-owned organizations can directly contract with other government-owned entities. Only two government-owned companies bid on the project. One of them was National Logistic Cell (NLC), which said the project would cost PKR 11.7 billion. The CDA chose the FWO’s offer of PKR 10.9 billion because it was the lowest.

Under Project Concept-1 (PC-1), FWO would build a four-lane expressway that is 7 kilometres long and connects PWD to GT Road. This road will be used by traffic coming from Lahore, Azad Kashmir, and other northern areas to Islamabad.

It’s also important to note that the FWO is already working on a number of road infrastructure and development projects in the capital, such as the Blue and Green Lines bus stations. Yet, under the same section 42(F) of the PPRA rules, the CDA gave the contracts to FWO.

Keep up with Estate Land Marketing for news and updates.

 

Share this:
Establishment of a panel to evaluate the viability of RUDA & District projects

Establishment of a panel to evaluate the viability of RUDA & District projects

/in /by

Establishment of a panel to evaluate the viability of RUDA and Central Business District projects.
A news story from July 19 says that the government has put together a group to look at the projects of the Ravi Urban Development Authority (RUDA) and the Lahore Central Business District Development Authority (LCBDDA).

Read more with EL news: 240 billion PKR have been set up for South Punjab’s development projects

According to the details, the River Ravi Urban Development Project (RRUDP) and the Lahore Central Business District (LCBD) projects are being looked at to see if they are possible, how big they are, and if the government needs to get involved. According to the notice, the panel will have 11 members, including a member of the Board of Revenue (BoR) (consolidation), the chairman of the Planning and Development Board, the secretaries for law and parliamentary affairs, local government and community development, irrigation, public health engineering, housing, the Lahore commissioner, the CEO of RUDA/LCBDDA, and the Chief Executive Officer (Urban unit). In addition, it was said that the CEO of both the LCBDDA and the RUDA will be the committee’s secretary.

The Terms of Reference (ToRs) also say that the committee will look at the master plans of LCBD and RRUDP to see how well they fit with the Lahore Development Authority’s master plan for the Lahore district (LDA). The people there were told that the committee would look for flaws and holes in the project designs and make suggestions for how to fix them.

The committee has also been asked to look at how well the land acquisition and land model work for RUDA projects that have already started or are planned. Also, the committee will figure out how both projects will affect the city of Lahore’s sewerage, water, traffic, environment, energy, and other infrastructure needs. It was said that the committee would look at illegal buildings in areas under RUDA’s control and suggest ways for RUDA to control them. The panel will examine court cases and lawsuits about the environment and getting land.

Concerning LCBD, the committee will look into the issues of who has authority and how land and costs will be shared with the Walton Cantonment Board, the Civil Aviation Authority, and the Bab-e-Pakistan Foundation. The committee has three weeks to give the chief secretary its report and suggestions about the above ToRs.

Keep up with Estate Land Marketing for news and updates.

Share this:
Top 5 Myths of Real Estate You Need to Know

Top 5 Myths of Real Estate You Need to Know

/in /by

Introduction

Myths of real estate are evolving day by day. Moreover, the real estate industry benefits everyone globally from ages. Furthermore, the industry has benefited even during the pandemic, when all business ventures have shown negative growth. And the investors have earned massive monetary benefits during the pandemic. Moreover, if we talk about Pakistan’s real estate industry, the investors and developers are doing immense growth as several profitable ventures are now developing. And the latest developing projects are the New Metro City Gujar Khan, Blue World Coty, and the Kingdom Valley Islamabad. Lastly, the blog contains common myths about the real estate business. So, without delay, let’s explore them.

Top 5 Myths of Real Estate

Several misconceptions are circulating now and then that affect the investors buying and selling trends. And the top five real estate myths are as follows.

Investment Option for Rich

Myths of real estate investment that all investors initially think is only an investment option for rich people. But moreover, we can take an idea of it from the new housing societies developing in the country. And the developers are also keeping the inflation factor in mind. Therefore, several developing housing schemes offer the best price range to all the country’s citizens.

Furthermore, the prime example is Kingdom Valley Islamabad. And as we know, the housing project comes under the Naya Pakistan Housing Scheme, with the idea of providing excellent living spaces for all individuals. Lastly, several other affordable options are also available to help investors from all economic standpoints make a real estate investment. So this is the first myth of real estate all investors talk about before investing in this sector.

Unreliability of Real Estate Agents

Prominent myths of real estate are the real estate agent’s image which is not as reliable as it is supposed to be. But moreover, this is again a myth that is not true. And this is also the reason the investors are not willing to tell all the relevant details. Furthermore, it happens because plenty of real estates agents are now available, and many unauthorized agents are also becoming part of the business, creating an untrustworthy vibe among investors and developers. And this investment is not something all investors do daily. And this is a lifetime investment that requires guidance and complete planning. However, market research is mandatory for all investors before consulting and approaching any real estate agent. Lastly, Estate Land Marketing offers the best guidance and real estate investment deals.

Valuable Investment for Developed Areas

Myths of real estate are numerous and affect the investment rates because only developed areas of real estate projects offer profitable and valuable investments. Moreover, developing new housing societies are also beneficial investment options like the New Metro City Gujar Khan. Furthermore, the developed areas are undoubtedly vital in making more money. However, underdeveloped regions also have the potential to make a valuable investment. Most importantly, it is the responsibility of the realtors and the real estate agents to guide the prospect of the property. Especially the housing societies developing on the CPEC route are the best examples of futuristic housing schemes that will help generate higher values.

Myths of real estate & Higher Prices Deals

Other myths of the real estate business are several, and the one that deals with higher prices often become the more profitable and valuable investments. Moreover, the property’s value depends on its features and facilities; noc-approved housing schemes are usually more expensive than non-approved housing schemes. And other factors also contribute to increasing or decreasing the property’s worth. So again, the best guidance and thorough research before making any deal are vital for all investors and future residents.

Online Resources trustworthiness

The last myths of real estate are that online resources can handle all the buying and selling processes. Moreover, the pandemic has shifted the world into online resources. Furthermore, the shift has benefited investors and developers. And we all know when all business models are not working, the real estate business has shown positive growth and profitable investment opportunities. But unfortunately, scam cases are becoming more prevalent after online work development. And if you are looking for how to avoid common real estate scams, visiting the property’s site is mandatory.

Furthermore, ask for optimal guidance and information from professionals. So, it is the myth that online resources can do wonders. Lastly, look for authentic news and professional advice to avoid issues later. And relying entirely on online sources for property sales and purchases will not benefit everyone.

Conclusion

Myths of real estate are prevalent in all societies. Moreover, the Pakistani real estate industry is booming, and investors are exploring all myths to explore them and know the truth. Furthermore, all investors must thoroughly research and plan before investing or selling properties. And the real estate sector in the country is booming, and several magnificent projects are also developing in the country, like Kingdom Valley Islamabad, New Metro City Gujar Khan, and the Seven Wonders City. Moreover, the trend in the country will surely increase economic growth. There are the top five myths discussed in the blog. Lastly, Estate Land Marketing knows how to offer great deals to all investors. So, contact them and benefit from them.

Share this:
240 billion PKR have been set up for South Punjab's development projects

240 billion PKR have been set up for South Punjab’s development projects

/in /by

South Punjab Additional Chief Secretary (ACS) Saqib Zafar told the leading newspaper on July 15 that PKR 240 billion had been set aside for 2,000 projects to improve South Punjab in the next financial year (2022-2023).

Read more with EL news: Govt revamp flagship housing finance program in order to adjust policy rate

The Annual Development Program (ADP) was reviewed at a meeting that was led by ACS Zafar. During the meeting, it was said that there were 1,548 ongoing projects and 443 new projects that were part of the uplift schemes. The secretary told the people in charge of the projects to finish them on time and use all of the money that had been given to them. He also told them to follow all rules set by the government for the building projects.

Also, the additional chief secretary said that 97 percent of the released funds were used in the last financial year. Out of PKR 186 billion, PKR 181 billion was used. The officials (who didn’t give their names) told the ACS about the projects that are part of the current financial year. According to the facts, 541 of the projects came from Multan, 502 from Dera Ghazi (DG) Khan, and 439 from Bahawalpur.

 

PKR 365 million was set aside to fix up the road from Shujaabad to Jalalpur Pirwala. PKR 100 million was set aside for a two-way road from Kot Addu to Daira Deen Panah. PKR 233 million was set aside for the road from Rangpur to Chowk Sarwar Shaheed. PKR 250 million was set aside to build a parking lot in Multan.
Read: The PM focuses on making South Punjab better.

Multan Ring Road, the road from Kacha Khooh to Abdul Hakeen, and Mirchakar University, DG Khan
The Jehangirabad Multan sewerage project was given PKR 125 million, and the WASA Multan mechanical system was given PKR 1.59 billion.

Keep up with Estate Land Marketing for news and updates.

Share this:
Govt revamp flagship housing finance program in order to adjust policy rate

Govt revamp flagship housing finance program in order to adjust policy rate

/in /by

Finance Minister Miftah Ismail said on July 16 in Islamabad that the Mera Pakistan Mera Ghar (MPMG) program would be restructured to account for the higher interest rates. The Minister said that the government will make sure that nobody loses money as a result of the scheme’s reorganization.

Read more with EL news: The BoP will organize roadshows across the US to promote RDA

In a series of tweets, the minister is said to have explained why the home finance scheme was changed. He said that even though mortgage loans are available at much lower rates, market interest rates have gone up by up to 15%. According to what he said, the program can’t go on at the current offer rate because the government would have to pay a big subsidy. He said that people had written to him about the housing program and how they had spent their money after getting loans to buy homes.

It’s important to know that the government stopped processing and giving out cash under the program for two months to make it last longer. In a new agreement between the government and the International Monetary Funds (IMF), the government has been asked to get rid of subsidies in order to keep the economy stable.

Homebuyers have been able to get mortgage loans from the govt at much lower interest rates: 3% for the first five years, 5% for the next five years, and KIBOR+2.5% for the next ten years. The banks have already approved and given out a total of PKR 66 billion to potential homebuyers.

Keep up with Estate Land Marketing for news and updates.

Share this:
The BoP will organize roadshows across the US to promote RDA

The BoP will organize roadshows across the US to promote RDA

/in /by

News from July 18 says that the Bank of Punjab (BoP) is holding roadshows in several cities in the USA to promote the Roshan Digital Account (RDA) initiative. These roadshows are happening with the help of the Pakistani embassy in the United States and different consulates all over the country.

The goal of these roadshows is to tell non-resident Pakistanis (NRPs) in the US about the benefits of RDA and help them get the most out of it. People who go will be told that the best way to send money to Pakistan is through formal banking channels.

Read more with EL news: Al-Raheem Villas-Multan offers inexpensive commercial, residential plots

The AOF of Pakistani Descent in North America recently held its 45th annual convention in Atlantic City, New Jersey. Thousands of doctors and doctors from Pakistan went to this event. During this 3-day conference in Atlantic City, BoP ran an exhibit booth where people could get information about the RDA and sign up for it.

In a separate but related event, the BoP also held an exclusive one-hour meeting at which the Pakistani Ambassador to the USA, Masood Khan, and the Governor of the State Bank of Pakistan (SBP), Dr. Murtaza Syed, were present. The BoP president’s closing remarks brought the meeting to a close. There was also a question-and-answer session at the seminar, during which the people who were there learned how important the right timing is when it comes to great investment opportunities.

Keep up with Estate Land Marketing for news and updates.

Share this:
Al-Raheem Villas-Multan offers inexpensive commercial, residential plots

Al-Raheem Villas-Multan offers inexpensive commercial, residential plots

/in /by

Multan: Al-Raheem Villas, a residential and commercial project with beautiful architecture on Main Nawabpur Road, sells residential and commercial plots with flexible payment plans.

The project covers more than 94 kanals and has residential plots of 5, 7, and 10 marlas and commercial plots of 2.3 marlas with three-year and one-year payment plans, respectively. It also has the best access, the most modern facilities, a residential and commercial outlook, and a 40 percent return on investments made for the medium to long term.

The Multan District Council has approved the project, and a well-known developer is behind it. This ensures that the project has everything it needs to become Multan’s next thriving residential and business neighborhood.

Read more with EL news: PVC Islamabad has disclosed the J Block and Overseas Block on maps

Modern living needs modern amenities

Its creators put quality, modernity, and ease of use first to ensure the project would be successful. As a result, it has all of the newest and most popular features that you can find in prestigious residential complexes in other big cities, like 24-hour security, a cutting-edge sewage system, beautiful family parks, a large mosque, a network of carpeted roads, and public transportation that runs 24 hours a day, every day of the year. Also, you can walk to all of the other city facilities from the project.

Enjoy the best place in Multan to stay

As Multan city has grown, more and more homes have been built in the city’s suburbs. Still, Al-Raheem Villas is the best place on Nawabpur Road to stay. The project is in a great place, close to all of the most up-to-date and convenient urban facilities and services. Some of the best things about the location of the projects are:

  • Faiz-e-Aam Chowk is 2 minutes away by car.
  • The Northern Bypass is 5 minutes away by car, and Bahauddin Zakariya University is 8 minutes away on foot (BZU)
  • Chowk Ghanta Ghar is 10 minutes away by car.
  • Multan International Airport is 12 minutes away by car.

 

Share this:
How to Avoid Common Real Estate Scams?

How to Avoid Common Real Estate Scams?

/in /by

Introduction

Real estate scams are becoming a danger to Pakistan’s real estate industry. Moreover, several housing schemes are developing in the country, like Silver City, Seven Wonders City and Park View City. And several others are also growing in the country and are victims of real estate-related fraudulent cases. Furthermore, like other business models, this venture also faces several issues. And that makes a doubtful investment for all investors.

Moreover, investors are always looking forward to making a real estate investment; it is the only precious and long-term investment option. However, the guidance is also mandatory beforehand to avoid any inconvenience later. Lastly, the blog has typical real estate scams that can affect the investment.

How to Avoid Common Real Estate Scams?

The most vital aspect is collecting as much information and guidance as possible. Moreover, professional realtors and real estate agents are always up to help investors in the best possible way. And some of the scams are as follows:

Documents Verification

The first and foremost important aspect all investors must check is document verification. Moreover, to avoid real estate scams, it is necessary to be vigilant at every step of investment and buying. And in that case, several No objection comes to the rescue, as it is the first paper that is vital to check before making a profitable investment. Furthermore, real estate investment happens daily; it’s a once-in-a-lifetime moment for all investors. And the blissful aspect is that several housing schemes are now offering legal real estate investment like the Kingdom Valley Islamabad. Lastly, all investors must verify documents from the officials before making any long-term investment.

Avoid Real Estate Wire Fraud

The pandemic has almost shifted everything to remote work. Hence it increases the chances of real estate scams in the country. As we know, the numerous housing societies newly launched in the country are becoming the scammers’ target. And real estate wire fraud is a common fraud affecting investors globally. Furthermore,  in this type of scam, the hackers hack the online transaction data and get access to all the money. Therefore, wise communication and transaction deals are mandatory to avoid these scams. Thus all investors must visit the official and principal office of the housing schemes to get the transaction done securely.

Onsite Visit

Another way to not become the prey of real estate scams is the onsite visit. Moreover, investors come into the trap of scammers in file sales and purchases. Furthermore, it is only possible to visit the site to know the property’s location. And many housing schemes are now working on construction that allows the investors to access the site and check the property quickly. Moreover, the prime example will be the Seven Wonders City Islamabad, which not only gives legal properties to all investors but also starts construction quickly. Therefore, a site visit before the investment is a must for everyone.

Mitigate Rental Scams

The list of real estate scams is long and rental scams are prevalent. Moreover, a wise and vigilant check is necessary before buying and selling rental properties. Furthermore, a legal process is essential to find the tenant to avoid later inconvenience. And in the tenant case, the legal property can only make a secure and peaceful living. Moreover, several housing schemes in the country now offer legal and secured rental properties where investors can live sustainably and happily.

Authorized Real Estate Agents

The best way to avoid real estate scams is to make a real estate investment deal with authorized realtors or agents. Moreover, several marketing agencies in the country are now offering the best deals to all investors. And one thing that all investors must remember is that investing in the only best time to do the research. And professional realtors is the only one who can help investors in guiding for the best possible investment option. Therefore, search for the right and adequate information and guidance from legal and professional Personale. Lastly, Estate land Marketing is always available to help investors to make profitable and scam-free deals.

Alleviate Foreclosure Relief Scams

Forbearance or other loan options can help to Avoid foreclosure relief scams. Moreover, the pandemic and the increasing inflation have created many issues in all homeowners’ lives. So, investors are quickly becoming the prey of real estate scams. Therefore, guidance from government organizations and professional realtors is mandatory to become the prey of foreclosure relief scams. And in this type of scam, the scammers take advantage of the poor financial situation, making the deals that come in the scammer’s favour. Therefore, it is mandatory to avoid doing deals in a hurry. And instead, find the other possible solution for the situation to prevent the scammer’s trap.

Conclusion

Real estate scams are becoming a part of the real estate world. Moreover, the industry is booming in the country, and scammers are now looking o take advantage of it. Furthermore, the investors have to be vigilant beforehand to avoid such situations. And for that, they must collect the best possible information and guidance from the concerned and legal personnel. Moreover, several authorized housing societies are now becoming part of the country’s real estate world.

And fine examples will be the Kingdom Valley Islamabad, Silver City, and the Prime Valley Islamabad. So, it is advisable to invest in legal real estate projects. Furthermore, this blog has mandatory other options and guidance to escape the real estate scammer’s trap. Lastly, Estate Land Marketing offers sound advice to all investors. So, contact them and make a scammed-free real estate investment.

Share this:
PVC Islamabad has disclosed the J Block and Overseas Block on maps

PVC Islamabad has disclosed the J Block and Overseas Block on maps

/in /by

Park View City Islamabad has released the long-awaited J Block and Overseas Block map. On July 14, 2022, PVC’s official Facebook page shared the news that the map would be shown.

Read more with EL news: Park View City Lahore introduces 5, 10-Marla plots in the Cherry Block

Park View City Islamabad is one of the most well-known real estate projects. The project, which was approved by the CDA, was made by the reputable Vision Group and is near Zone IV in Islamabad. The housing society has facilities and amenities that are on par with the best in the world and built to international infrastructure standards.

The PVC Islamabad development investors are most excited about is the J & Overseas Block. The government has finally said that the map reveal will happen very soon. The Golf Estate Block is likely to be next to the J block. Both Blocks have special features and top-notch amenities that make them stand out. Even though the date hasn’t been set yet, it’s likely that it will be announced at the Park View City Balloting Ceremony on July 30, 2022.

Keep up with Estate Land Marketing for news and updates.

Share this: