CDA requests Islamabad Master Plan Commission’s reformation

CDA requests Islamabad Master Plan Commission’s reformation

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Islamabad: According to a news source on September 26, the Capital Development Authority (CDA) has contacted the federal government once more to request that the Islamabad Master Plan Commission be reformed.

Read more with EL news: Blue World City’s CEO Saad Nazir & Chairman Bahria Town Malik Riaz Meeting

The CDA has reportedly sent a summary to the federal cabinet that emphasizes the need for a thorough reformation of the commission. The Master Plan Revision Commission has already presented its preliminary report, according to CDA officials. This paper includes crucial suggestions for building by-laws and regularization, highlighting their significance in determining the future of the city.

Following the completion of the preliminary report, the CDA plans to work with foreign consultants to help alter the master plan. This project will also involve cooperation with the Greek government, marking an important international partnership in the field of urban planning.

 

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Blue World City's CEO Saad Nazir & Chairman Bahria Town Malik Riaz Meeting

Blue World City’s CEO Saad Nazir & Chairman Bahria Town Malik Riaz Meeting

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The two real estate legends Malik Riaz, the chairman of Bahria Town, is well-known among developers, as is Saad Nazir, the first visionary developer from Pakistan who is currently working on a proposal in Pakistan for a tourist destination analogous to Dubai. The significant news for investors in Blue World’s City is that these two legends have begun a meeting in Dubai, where Chairman Blue World City has given Malik Riaz the vision for his development on main Chakri Road Islamabad and has also solicited his opinions.

Read more with EL news: CDA asked to fix Murree Road near Bhara Kahu

They also address many safe investment options that investors can take advantage of in the near future. The Chairman of Blue World City ensured that these two newly emerging developers would create fresh, contemporary work on this particular society so that those who would live in it would benefit from it. This is a victory for Blue World City for such cooperative conversations.

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CDA asked to fix Murree Road near Bhara Kahu

CDA asked to fix Murree Road near Bhara Kahu

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Islamabad: According to news reports published on September 21, the National Highways Authority (NHA) has requested that the Capital Development Authority (CDA) give priority to the repair and rebuilding of the Murree Road section that was damaged during the construction of the Bhara Kahu Bypass.

Read more with EL news: A municipal organisation makes announcements to LDA City plot proprietors

In response to the information given, the NHA called a meeting with CDA representatives after receiving several complaints from the general public about the shoddy and uneven condition of the road. Officers from both organizations who needed to attend the meeting were present, and it was presided over by the NHA Member Engineering and Coordination.

NHA representatives encouraged the CDA to start Murree Road repairs right away to lessen the inconvenience to the people during the meeting. The National Logistic Cell (NLC), with whom the department has already had negotiations in this regard, was informed by the CDA Director General and other officials that work will start soon.

It is significant that the CDA owns the Bhara Kahu bypass while the NHA is in charge of Murree Road. The portion of Murree Road underneath the flyover sustained substantial damage while the bypass was being built. The CDA has failed to start repairs, despite the bypass being finished.

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DHAI-R introduces an exclusive offer for Phase-V commercial properties

DHAI-R introduces an exclusive offer for Phase-V commercial properties

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According to a September 22 Facebook post, the Defence Housing Authority Islamabad-Rawalpindi (DHAI-R) has announced an exclusive offer that will make investing in commercial plots even more attractive.

Read more with EL news: DHA Multan will transfer ownership of Sectors G and N this month

In a move designed to provide significant benefits to its valued members, the administration introduced a limited-time offer that extends a 100% waiver on several key charges associated with commercial plot ownership, making it an excellent opportunity for those seeking to invest in prime real estate.

The offer, which is exclusive to members of commercial properties in DHAI-R Expressway-Phase V, waives the following fees entirely:

Site Design Fees
Possession Costs
Capital Investment and Development Fees (CIDC)
Fees for Drawing Submission
Caution Required: DHAI-R’s River View South, Phase IV: Application Deadline Extended

Water and Approval Fees
Debris Costs
Amalgamation Expenses
Members of DHAI-R Expressway-Phase V’s commercial plots can take advantage of this offer until December 31, 2023, allowing them to save substantially on their investments.

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A municipal organisation makes announcements to LDA City plot proprietors

A municipal organisation makes announcements to LDA City plot proprietors

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According to the national dailies on September 23, the Lahore Development Authority (LDA) has sent out a public notification to the owners of the third and fourth ballot plots in LDA City.

Read more with EL news: DHA Multan will transfer ownership of Sectors G and N this month

The following announcements on the authorized payment schedule were made, per the details that were released:

  • Plots assigned in the third and fourth ballots began to be assessed development fees on January 1 and April 4, 2023, respectively.
  • By inputting the appropriate file numbers, the challans for development charge payments can be accessed through the LDA website, lda.gop.pk, or mobile app.
  • Challans for development fees may be deposited at any Allied Bank location nationwide or online through 1Link.
  • Read: Park & Ride Plaza-Gulberg’s commercial leasing rights will be put up for auction by LDA.

By visiting the LDA City Directorate or arranging through the WhatsApp numbers (0318-1414663, 0322-4180550), any potential errors in the challan form may be fixed.
Plot owners are urged to pay their development fees on time in order for their plots to be immediately turned over to them following the conclusion of all ongoing infrastructure development projects.

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Real estate market news Updates 2023

Real estate market news Updates 2023

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The real estate business in Pakistan has been booming with time. Although the country is facing economic crisis, so the progress of real estate business is balanced. A lot of local and international real estate investors have desire to invest in this sector despite all odds. According to the Economic Survey of Pakistan, real estate business of Pakistan would grow by 30% in next five years. Even one of the World Back report suggest that this sector is second largest job creator in Pakistan. As per the real estate market news, the real estate market over time has been transforming globally with time. A lot of real estate investors prefer low-cost housing nowadays, especially for gated communities. The gated communities are the one, where there is huge gate that separates the housing project from other surroundings .

Real Estate Market News

Current Trends in Pakistan

The real estate business in Pakistan has been observing changing trends, i.e. more demands for low-cost housing nowadays. The country is in much needs of affordable housing project due to fast urbanization and growing population. Many of the overseas investors are investing their money in overseas sector of different housing projects i.e. Park View City Overseas Commercial. The real estate sector in Pakistan is offering tremendous profitable opportunities, and it has potential to expand further. The main driver behind such potential rise is growing demand for cheap housing and interest of foreign investors. Some of the initiatives like Naya Pakistan Housing Scheme have been instrumental in boosting real estate business. So, one can say that real estate market news in Pakistan is somehow positive.

Many of the Pakistani housing projects that are about to be completed have potential to generate huge revenue. Majority of the real estate investors have found themselves happy with their investment in these projects due to their innovative housing features.

Housing Market in Pakistan

If we talk about housing market in Pakistan, the global reports says that this business would grow 30% more. Next five years in this business would be a drastic change, which has potential to get more profits. The main cause behind such rapid spread is different individuals migrating to huge cities to get better opportunities. One of the important trend in housing market of Pakistan in rise of gated societies. Many individuals would like to live in safe environment, which makes gated societies favorite among real estate investors. Another important trend is the rise of commercial real estate, which encourages business activities within a housing project. Real estate market news suggests that new housing projects in Pakistan like Dream Valley Housing Scheme would attract more profits.

Investment Opportunities

As per the real estate market news, investors  in real estate business of Pakistan have diverse options of investment. This business is one of the lucrative business in Pakistan that provide greater returns in investment. A lot of investors are looking for affordable housing project, since the economic situation of Pakistan is not much satisfactory. The government of Pakistan has been providing some incentives like tax breaks and subsidies, as this is a productive industry. Some of the main projects like China Pakistan Economic Corridor have significant for this business, as a lot of roads are under construction. Since this corridor would be linking western part of China with southern part of Pakistan, so a lot of housing projects would develop in that route. Real Estate Market Predictions further suggest that real estate market would gain more investment, in return for profits.

Conclusion

The housing market in Pakistan has been very instrumental in economic progress of Pakistan. The economic situations might not be much good in Pakistan, yet the housing business in rising. Real Estate Market News says that the investment in this business would increase due to overseas investors. The real estate market in Pakistan would be progressing more, and offer better returns. Now, is the best time to invest your capital in this business, as it would be better for future. For more positive news about real estate in Pakistan, please consult with representatives of Estate Land Marketing. Our representatives have good experience in real estate market of Pakistan, and they would provide best guidance.

 

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Real Estate market prediction for 2024

Real Estate market prediction for 2024

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It is a notable fact that real estate business is thriving all over the glove, as it guarantees huge profits in return. Many of the real estate experts believe that 2024 would be shifting year for real estate business. A lot of real estate market predictions of 2024 depends on changing mortgage interest rates. Such rates have skyrocketed two times more than the year 2022. To some extent, Federal reserves of different countries are combatting inflation due to which the interest rates remained huge. Zillow housing market trends suggest tighter economic conditions compel slowdown in implementing nominal growth of wage. The mortgage rate might be high in year 2024, and property sellers might be hesitant to sell their properties at lower rates.

Real Estate Market Predictions

Are sales going to decline?

Although the prices of the homes had not changed before 2023, but this year volume of home sales has softened. The current home sales in July 2023 declined to annual pace of more than 4 million homes. Some of the prominent chief economists like Lawrence Yun suggest that retreating mortgage rates after their dip may get more house sellers and buyers. Some other financial experts further suggested low mortgage rate may further outgrow activity of home sales. The existing sellers in real estate market may enable themselves to trade their current houses. Such trade would help them in getting more transactions by adding much needed inventory into market. Due to competitive nature of real estate market, interest rates might have a drastic impact on real estate market over time.

Other important factor behind declines of sales might depend on inventory level. The inventory levels would need to surge; however it would depend on the buying capacity of existing homebuyers. There would be some new homebuyers, who would list their current properties, or might spend huge amount to construct new homes. Buyer would prefer to sell their low mortgage rates, if they have desire to construct a new home. Other than that, mortgage rates would play huge role in determining house rates. Real estate market predictions also suggests that Interest rates would have a limited effect on real estate. Such affect would influence mortgage payments with demands of housing. Buyer interest rate has remained high despite home prices witnessing growth, as per the real estate market trends.

2024 scenario

As per year real estate market forecast 2024, housing market might continue to slow down, but would not crash. The prices for first time buyers may surge due to very low borrowing rates, and supply restrictions. The prices are expected to rise slower or remain smooth for the next two years. Growing interest rates by next year may lead to a pullback in rates, which would result in affordability. Although, it might remain a primary concern for buyers as growing prices make it difficult for some purchasers to enter the market. Technically, the real estate market will remain very strong, but they might be moving towards some balance.

Though some of national housing markets won’t be crashing, but some other regional markets may witness deterioration in home prices. The only reason behind such deterioration is the increasing interest rate that might result in further unaffordability. As a matter of fact, some regions that previously face price growth issue would definitely experience a slowdown. The good part is that it might be a temporary setback, since economic and demographic trends might evolve favorably.

Conclusion

The amalgamation of huge mortgage rates, vertical home rates and low inventory levels would provide challenges for house buyers. Real Estate Market Predictions of year 2023 tells us that real estate market activity might face ups and down due to changing economic trends. One needs to understand complexities of existing real estate market condition, in order to generate profits next years. Real estate investors must look into challenges of affordability that might occur due to increase in rates. The have been fears of recession among real estate experts, as they contribute towards markets rise or decline. The real estate market may potentially shift away from skewness towards sellers to more balanced situations. If you want to learn more about potential changing trends in real estate market in 2024, please get in touch with consultants of Estate Land Marketing.

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DHA Multan will transfer ownership of Sectors G and N this month

DHA Multan will transfer ownership of Sectors G and N this month

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In a recent thrilling news, the Defence Housing Authority (DHA) Multan revealed plans to transfer possession in Sectors G and N later this month. On September 19, the authority’s official Facebook page published a message in which this crucial development was disclosed.

Read more with EL news: DHA Quetta Early Bird Commercial-2023 1st installment deadline extended

Although the authorities has stated that possession will be awarded in September, they have not yet provided the precise date. For its subscribers, they have nevertheless offered some alluring incentives. Notably, members can expect to save a lot of money—up to PKR 40 lakhs. A rare offer is also available: if building is finished within a year, all development fees will be entirely waived.

Another development is that Sectors Q and M are included in the Monsoon Plantation effort that has been started by the DHA Multan. Their goal of building a Clean, Green, and Sarsabz-O-Shadab Pakistan is in line with this attempt.

The housing society’s commitment to protecting trees and fruit orchards, with a focus on conserving mango orchards, is one of its most notable characteristics. This proactive strategy turns these orchards into delightful Mango Parks, which not only improves the environment but also contributes to the project’s overall beauty.

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DHA Quetta Early Bird Commercial-2023 1st installment deadline extended

DHA Quetta Early Bird Commercial-2023 1st installment deadline extended

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The first instalment payment deadline for the Early Bird Commercial-2023 plots has been extended, according to the Defence Housing Authority (DHA) Quetta. On September 21, this was disclosed in a post uploaded on the corporate Facebook page.

Read more with EL news: CDA asked to fix Murree Road near Bhara Kahu

The DHA Quetta has decided to extend the submission deadline until December 5 in response to the passionate appeals from its distinguished members. This tactical choice attempts to speed up the payment procedure and give members plenty of time to fulfil their financial commitments.

Additionally, the authority highly advised that all members make the most of this extension and make sure that the first installment for their Early Bird Commercial-2023 plots is timely submitted before the deadline.
Notably, this is the second time that the DHA Quetta has extended the due date for the initial payment of Early Bird Commercial-2023 plots.

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CDA asked to fix Murree Road near Bhara Kahu

CDA asked to fix Murree Road near Bhara Kahu

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According to September 21 news reports, the National Highways Authority (NHA) has requested that the Capital Development Authority (CDA) prioritize the repair and renovation of the segment of Murree Road that was damaged during the construction of the Bhara Kahu Bypass.

Read more with EL news: Turkish investor renews bid to buy power producer

Pursuant to the provided information, numerous complaints from the public regarding the poor and uneven condition of the road prompted the NHA to convene a meeting with CDA officials. The meeting, convened by the NHA Member Engineering and Coordination and attended by officers from both organizations, was held at the NHA headquarters.

During the meeting, NHA representatives implored the CDA to immediately begin repairs on Murree Road to alleviate the public’s inconvenience. The Director General of the CDA and other officials reassured NHA officials that work would commence shortly, and the department has already begun discussions with the National Logistic Cell (NLC) regarding this matter.

Murree Road is under the jurisdiction of the NHA, whereas the Bhara Kahu bypass is under the control of the CDA. During the construction of the bypass, significant harm was caused to the section of Murree Road beneath the flyover. Despite the completion of the bypass, the CDA has not yet begun maintenance.

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