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Rawalpindi Real Estate Market Trends
Rawalpindi is Pakistan’s fourth-largest city, while the broader Islamabad-Rawalpindi metropolitan area is Pakistan’s third-largest metro area. Rawalpindi is near Pakistan’s capital, Islamabad, and the two are referred to as “twin cities” because of their strong social and economic relations.
The majority of the Pakistani community is involved in the real estate sector. Pakistan’s real estate business is one of the most important industries, contributing significantly to the country’s economic development. According to World Bank estimates, Pakistan’s real estate assets account for 70 to 75 percent of the country’s total wealth. Due to several financial, economic, and political issues, the country’s property sector did not perform well in 2019. Home prices increased, buyer demand increased, and mortgage rates fell to new lows.
But 2020, on the other hand, was a fantastic year! It began with a significant crash, resulting in a global economic meltdown resulting from Covid-19, but it concluded on a very different note. Finally, it has turned the real estate business into one of the few bright spots in an otherwise bleak situation.
So, what exactly are the Rawalpindi real estate market trend in 2021? However, the real estate market is constantly changing, and real estate trends come and go. When you consider how localized this sector is, with varied conditions in every city, state, and metro area, you can’t expect things to stay the same for long. Since change is inevitable and so the trends are also bound to change over time. We shall have a look at them.
|Bahria Town Rawalpindi
|Airport Housing Society
|CBR Town Phase 2
|Capital Smart City
Rawalpindi Real Estate Market Trend starts with Taj Residencia, which has achieved enormous popularity and seen a 4 percent increase in plot sale prices. A 5 Marla property costs roughly PKR 8 lakh, whereas a 10 Marla plot costs between PKR 20 lakh and PKR 67 lakh. The society also has 1 Kanal plots available, ranging from 95 lakh to one crore. In addition, category plots, such as main boulevard, corner, and park facing plots, are subject to a 10% percent surcharge.
CBR Town Phase 2 comes in second in terms of popularity. It has piqued the public’s curiosity, increasing plot sale prices. The cost of living in CBR Town Phase 2 will continue to grow. A 5 Marla residential plot in CBR Town Phase 2 costs PKR 18 lakh, a 10 Marla residential plot costs PKR 33 lakh, and a 1 Kanal plot in CBR Town Phase 2 costs PKR 45 lakh.
The selling prices of plots in Capital Smart City and Media Town have decreased by -1 percent, while the sale prices of properties in the Chaklala Scheme have decreased by -2 percent.
Apart from these societies, Bahria Town Rawalpindi, Chakri Road, Adiala Road, Airport Housing Society, and Gulshan Abad have not improved.
RDA NOC Approval
Rawalpindi Development Authority is also known as RDA. It is a self-governing regulatory organization tasked with providing municipal services to Rawalpindi residents. They offer these services to citizens with the money earned via taxes. This institution is currently the most important in monitoring the development of new housing societies in the city. It ensures that it meets all development standards and that individuals are safe from fraudulent operations. These organizations have a significant impact on Pakistan’s real estate market. The certification of the RDA is critical for housing societies to demonstrate to potential consumers that their real estate goods are entirely legal. The authorities have issued a list of RDA-approved housing societies. It is difficult for a housing society to operate in Pakistan’s real estate market without the consent of these regulators. It will eventually result in lower sales and higher losses. To avoid being defrauded or scammed, people are encouraged not to invest in any unlawful or fictitious housing society.
The Real Estate Market Trend contains the powerful housing societies brought to us by excellent creators. These are the rising housing schemes in the city of Rawalpindi.
Taj Residencia offers to deliver the best luxury living complexes in Rawalpindi to its residents. It is a 15-minute drive from the new Islamabad International Airport and seven minutes from the Quaid-e-Azam International Hospital. The developers are building Taj Residencia to provide comfort and safety to its residents. Residential plots of 5, 8, and 10 Marla and one Kanal plots are available. Taj Residencia employs its architects and builders to create a gated community with all the necessities and comforts of modern city living. The Rawalpindi Development Authority (RDA) has authorized Taj Residencia’s NOC Document, and the housing society has met all other legal requirements.
Blue World City
Blue World City Islamabad is a sprawling development that spans 5000 kanal. Rawalpindi Development Authority has approved a small portion of its land. The approval of the NOC for the remaining land is in the works.
Capital Smart City
Capital Smart City was billed as Pakistan’s first smart city by its developers. It was said to be an environmentally friendly housing society. It is one of the RDA-approved housing societies, which is terrific news. Capital Smart City received the NOC in 2019. It’s entirely safe and legal now. There are several housing societies in the area, indicating that industry is thriving. Industrial sites will be far from the region due to many housing societies in the area. It will contribute to a clean and green environment for the occupants.
The Rudn Enclave Rawalpindi is on top of the game when it comes to staying forefront in the Real Estate Market Trend 2021. The location of Rudn Enclave is appealing since it lies in the middle of significant highways and destinations. It is on the Adiala Road in Rawalpindi; the M2 Islamabad-Lahore Highway is right next door. The Rawalpindi Ring Road is currently under construction, as is the New Islamabad International Airport. The lodging society also has access to Chakri Road and Chakri Interchange. The location of Jarrar Camp is also close to the area. On Adiala Road, the housing society will have three entrances, with a fourth entry planned on Chakri Road. The distance between the Islamabad Farmhouse and this location is only 9.8 kilometers. The Rawalpindi Development Authority has approved the Rudn Enclave’s application for a no-objection certificate (RDA). What’s impressive is the fact that how enthusiastic investors have been, especially at this early stage. The Enclave is likely to acquire the NOC from RDA in the following months.
Real Estate Market Trends are changing rapidly and are almost always in flux. The Real Estate Market trend in Rawalpindi has progressively shown outstanding amounts of success and, soon, it will continue to thrive. Estate Land Marketing highly suggest that you make your precious investments in the right place; an RDA-approved property in Rawalpindi.