Overseas Property Interest in Homeland: Top Housing Societies
Overseas Pakistanis, whether working or living abroad, are always looking to create an investment portfolio to continue their lifestyle in their country after retirement. Making safe investments could be difficult, but thanks to continued government incentives, real estate is a great and highly desirable alternative nowadays.
Although choosing a decent real estate project requires prudence and precision, New Metro City is largely considered to be the safest and most successful investment.
Real estate has always been an attractive sector that provides great returns on investment both in the short and long term. In addition, several benefits included in the 2022 Construction Package, as well as recent incentive constructions in New Metro City, have given weight to the huge housing program for Pakistani expatriates.
In addition, many Pakistanis living abroad were deceived when they tried to buy property in Pakistan. To minimize anxiety, we provide this information on the best societies in Pakistan so that our foreign Pakistanis can invest safely in their country.
The reason for interest in homeland property for overseas Pakistanis:
Foreign visitors now account for more than 30% of all real estate purchases in Pakistan. Let’s first discuss the benefits:
Roshan Online Account:
Roshan Digital Accounts was also launched, allowing overseas Pakistanis to effortlessly participate in residential and commercial real estate through legal methods. The State Bank has imposed a three-year minimum period for investment in real estate.
Depreciation of the Pakistani rupee:
Pakistani migrants living in places like the United Kingdom, the United States and Dubai are earning in the currencies of their respective countries, which are now trading heavily against the Pakistani rupee. As a result of the inequality in currency prices, they have an advantage over locals in investing more in local homes and real estate.
Interest Rate Reduction:
According to a recent official announcement issued by the State Bank of Pakistan, the interest rate has been declining. People are forced to withdraw their funds from banks and invest in other areas when interest rates fall. Obviously, the real estate sector has an advantage here.
The government’s 2022 Construction Package, unveiled after an ongoing epidemic, is appealing, especially for overseas buyers. It includes a tax amnesty system for the real estate sector, which allows people to participate in the building business without identifying their source of income.
Then, a one-time capital gains tax exemption was provided on the sale of a personal home of up to 500-yard home or 4000 sq. ft. payment. These incentives are valid until December 31, 2022, however, the deadline is likely to be extended.
Best Pakistani Foreign Investment Companies:
There are various options for foreign Pakistanis to invest in real estate. We will look at some housing plans in Pakistan for foreign investors.
However, before investing in any property, including the largest corporations in Pakistan, you should consider the precautions outlined later in the blog.
New Metro city Kharian:
Overseas Enclave is one of the most common blocks in New Metro city Kharian. The assets are approved and licensed. This block is completely built, and it offers a wide range of facilities, from basic to grand. According to the project’s official website, Overseas Enclave was “built around bright sights of the beautiful lake.”
Add beautiful green parks to its grandeur. People who want to get away from the hustle and bustle of the city while still being in an elite area generally visit Overseas Enclave. Many families already live here. It should be noted, however, that only Pakistanis living in other countries can buy property in Pakistan.
One channel of land is rentable in the Overseas Block. In the society, there are also 10 marl mansions with property values ranging from crore PKR 1.3 and crore PKR 2.5. If you want to invest in plots in Overseas Enclave, you can buy 10 seas and 1 canal property. Contact reliable network dealers to keep you updated.
New Metro City Gujar Khan:
New Metro city Gujjar Khan is the next residence project. Rumor has it that 10 or 5 sea homes will be offered for sale. Prices range from approximately PKR 50 lakh to PKR 85 lakh. Get help from our property consultant to know more.
Documents Needed When Investing In The Leading Companies Of Pakistan:
Everything is incomplete unless proper documentation is provided. To invest and register property on your behalf, you will need sufficient legal documentation. The following are the basic lists of articles that are needed by you for an additional method:
- 2 or more existing passport photocopies
- Latest passport size photos of you
- At least 2 copies of the National Foreign Pakistan ID Card
- Photocopy of entry mark for residence in a foreign country
- Pakistani exit mark photocopy
- List of family members
- Photocopy of the National Identity Card of the next of kin
Before the articles can be submitted and processed further, you must first approve them. You also need to keep the security deposit and security index on file for future problems.
Before Making A Property Investment, Security Resources For Overseas Pakistanis:
Consider these tips before investing in leading companies in Pakistan for foreign Pakistanis.
Confirm that the land has been approved by government authorities:
The first concern that arises when considering buying a property is whether or not a home project is safe to invest in. If it is administered by municipal authorities such as the Capital Development Authority (CDA), the Karachi Development Authority (KDA), or the Lahore. Development Authority (LDA). Either from a regulated administration such as the Defense Housing Authority (DHA) or the Pakistan Armed Forces (PAF), it is almost certainly a safe investment opportunity. Check if the housing plan is approved by the government. If a project is still seeking official permission, it should raise red flags for potential buyers.
Government officials continue to double-check the housing scheme. If work is still awaiting government permission, it should serve as a red flag to potential clients. Lack of approval, more often than not, means that the property will be revoked by the authorities in the near future. As a result, investing only in well-known, approved businesses is your best chance.
Don’t believe false claims:
Try not to be pushed into falling for real estate sales ads that are targeted at you on Facebook, other social media platforms, and on TV every other day. To be more specific, every Pakistani living abroad who wishes to acquire property in Pakistan should avoid falling prey to the tariffs advertised in these brilliant advertisements and should be aware of these commercially produced scams.
Beware of illegal properties and housing:
When dealing with counterfeit assets, these fraudulent companies and their schemes can be a nightmare for individuals living in Pakistan, regardless of who lives abroad. These companies or properties may be bad or likely to start later due to a lack of legal permits or government approval.
Buying property isn’t easy, especially if you’re not from the nation, but if you follow the above guidelines, you should be able to get what you want without falling victim to fraud.
You can also seek help and information from reputable properties with proven histories, such as Feeta.pk. We are one of the leaders in Pakistan real estate companies, dealing with various features like New Metro City, Gwadar Golf City and many more reliable housing societies.
Top Housing Schemes in Lahore on Installments 2022
Good news for the people of Lahore – lots of plots in easy installments!
Those who can’t afford a large sum for a plot can now invest in new home developments in Lahore 2022 every month. As Lahore’s population grows by the day, housing concerns become more prevalent. Most novices in this city have the option to rent.
However, affordability is not as easy as one might think, so in this case, in 2022, one will be able to acquire land in one of Lahore’s new housing schemes on payments. Basically, each society has its own payment plan, with various down payments based on community laws. The plot varies according to the size of the plots.
Seven Top Housing Companies in Lahore on Payments:
Possession of plots is granted immediately after the payment of installments, while in certain circumstances companies require additional time to provide possession after the completion of payments.
1. Kings City
Al Kabir Developers established Kings Town Lahore in 2019. It is located on Raiwind Road in Lahore. It sells houses in installments of 3 marl and 5 marl, as well as residential plots.
Kings Town Lahore is divided into two phases: Phase 1 and Phase 2. Phase 1 was released in 2019 with housing plans, while Phase 2 was launched in 2021. The project is near Bahria Orchard in Lahore, on Raiwind Road. Kabir Town Phase 3 is another name for it.
The payment plan for King’s Town Lahore (2022) includes one sector of A with residential plots available for booking. The 2022 payment plan offers 3 marlas for PKR 360000 and five marlas for PKR 5500,000 in total.
The reserve fee is PKR 600,000, plus PKR 25000 deposit. Houses will be bookable in 2022 with a four-year payment plan. A reserve option of a floor base is available, with prices from PKR 3600,000 to PKR 4200,000 according to a simple payment plan.
In 2022, Kings Town Sector A and Phase 1 Block B are also available for reservation. The company is also prioritizing a low-cost plot with high-end amenities, which is why fresh bookings for 2022 have begun in phase 2 of King’s Town Lahore.
Because the plans for 2021 and 2022 are so identical, all 2021 reservations can still be made in 2022, but at one price. One price refers to prices that are charged as a profit over the initial file price. Many others still have previous reservations but want to buy new ones in the phase 2 A-block. This demonstrates the market value of a society.
2. Dream Housing Society
On Main Raiwind Road, in front of Lake City and adjacent to Superior University Campus, Dream Housing Lahore is located. The Lahore Ring Road is a few minutes drive away. Residents will have easy access to the city’s main neighborhoods thanks to the Ring Road junction (LRR).
The company provides 3 Marla and 5 Marla residential plots for PKR 2,700,000 and PKR 4,500,000, respectively, and an inexpensive 48-month payment plan with PKR 15,000 and PKR 25,000 paid monthly for 48 months and two years. Under a three-year payment plan, commercial plots of 2.5 and 4 marl are also offered.
Brochure on Dream Housing
3. Park View City Lahore
The Vision Group has created and owns Park View City Lahore, a spectacular housing project. The land is about 7000 Kanal in size and provides housing for over 4500 households. The Thokar Niaz Baig flyover is a few miles from Park View City Lahore, which is located on the major Canal Road.
A legal NOC is present in the housing project. It is a Lahore Development Authority-approved real estate project and one of the Lahore housing companies that sell plots in installments. In addition, the housing association offers plots of 3, 4, 5, 8, 10, and 1 Channel per month.
Regarding the amount of the plot price, however, a 5% discount is available. Additionally, 10% additional costs will be applied to plots in the elite category, such as corners, park facing, and main boulevard locations.
4. Zaitoon City
Zaitoon City, located on Canal Road between New Lahore City, Bahria Town, and Multan Road, provides commercial and residential plots for 3.5 to 4 years on payments.
5. Lahore Smart City
Another housing company in Lahore that offers plots in installments is Lahore Smart City. Future Development Holding Private Limited and Habib Rafique Private Limited collaborated on this important project. This residential community in Lahore is also accessible from the Lahore Ring Road and is located on the Lahore Bypass.
Administrative and Overseas Blocks make up the housing project. Plot sizes of 5 marlas, 7 marlas, 10 marlas, 12 marlas, and 1 Kanal come with a flexible and inexpensive payment plan. In addition, this housing company has received approval from the Lahore Development Authority and is a great investment opportunity.
6. Dream Gardens
Dream Gardens Lahore is located on Raiwind Road, 2 minutes from Canal Bank Road, 10 minutes from Shaukat Khanum Hospital, with easy access from Lahore Ring Road and close to the city’s major universities. It is divided into two sections, each of which must provide an amazing storyline.
It has residential plots of 5 Marla, 7 Marla, 10 Marla, 20 Marla, and 30 Marla, as well as commercial plots of 6 Marla, 7 Marla, and 10 Marla. Residential parks start at PKR 5,948,800 and go up to PKR 26,790,300, with a 36-month payment plan and 12 quarterly installments available. Reserves start at 30% down and are spread over three years.
7. Al-Rehman Garden Lahore
Al-Rehman Garden of Lahore is an LDA-approved housing company. In addition, the project is being built by Al-Rehman Developers, one of the most famous and well-known real estate companies in the world.
In addition, the housing company consists of seven stages and is located on Ferozwala Road near Sheikhupura. Real estate investors have benefited greatly from the ideal location. Residential parks of 3,5,8, and 10 marl are available on a fee payment from the housing association.
At the same time, the commercial property is available on delivery in 2 and 4 marlas. Al-Rehman Garden is one of Lahore’s best-known housing associations, with a very reasonable monthly payment plan for the city’s population.
Lahore’s real estate industry is growing by the day, and with each passing day, builders and investors have to deliver some of the most innovative and exciting real estate projects.
The trader who initiates the strategy reaps a great profit. The starting price comes with the sold out files as soon as the plan is announced. For both buyers and sellers investors, this is a successful investment without the risk of losing money.
So if you can afford it, don’t worry about investing; just go to the advertised website and arrive early to secure a place.
As time went on, everything around Lahore became part of the city. So, don’t worry; new home projects in Lahore 2022 in installments will appear in the coming days, and their advertisements will be published soon.
However, according to Globe Estate and Builders real estate experts, the most recommended housing companies in Lahore are Kings Town and Dream Housing Society.
Stay tuned to Feeta Blog to learn more about Real estate in Pakistan.
Famous Tourist Places In and Around Gujar Khan City
Gujar Khan is a small town in Pakistan that can be explored in a single day. It benefits from natural resources such as oil and gas, and its population of about 75,000 people is rapidly expanding.
In this city, there are not many activities to do or places to visit. In addition, because it is a small town, there is less housing. People are generally considering stopping here on their way to nearby towns. You can stop here for a quick bite and rest from your travels.
Check out the list of places in and around Gujar Khan to learn about the best things to do in these places. So, the next time you are in Gujar Khan, you can choose which nearby city to visit for an unforgettable trip.
But first, let’s discuss …
Location of Gujar Khan City
Gujar Khan is about 55 kilometers southeast of Islamabad, the capital of Pakistan, and 220 kilometers northwest of Lahore, the city of Punjab. Gujar Khan is bordered on the north by Rawalpindi, Islamabad, and Attock, on the south by Jhelum, Lahore, and Gujrat, on the east by Azad Kashmir and Kahuta, and on the west by Chakwal and Khushab.
Gujar Khan is located in the Pothohar cultural zone. Gujar Khan is located two kilometers from the Dohngi Dam and about 35 kilometers from the considerably larger Mangla Dam.
Popular sights in and around Gujar Khan City
Sangni Fort is a fort built on the borders of Gujar Khan and Kashmir by the Maharaja of Punjab. It is located on a high rock on the way to Bewal via Daryala, with only one access.
It is closest to Barra Dari, a housing development containing two ancient sites. Dhandgali Bridge is an ancient wooden and rope bridge. It is an important curiosity. In addition, Lakhtala is a rocky place with devotional graves of people. Let’s discuss some of them in detail.
1. Bedi Mahal
The Bedi Mahal, also known as “Babay da Mahal (The Old Man’s Palace),” is a wonderful Sikh house built by a famous Sikh businessman and community leader, Baba Khem Singh Bedi. The mansion is in fairly good shape, with mysteries of its former grandeur still hidden behind its walls.
Although there is no specific date for its creation, the Bedi Mahal is said to have been built in the 1850s. It was built mostly of sandstone and plastered with lime surkhi (burnt clay). Artists and masons from the nearby town of Attock were commissioned to create beautiful paintings and carvings for this four-story, 84-room structure.
In addition to the remarkable interior design, there was an orchard, a stable, and a small zoo of exotic animals. A panoramic view of Kallar Syedan could be seen from the top of the skyscraper.
People went to social media to gather behind the cause of rescuing the Bedi Mahal and its majestic architecture from full decay while the Rawalpindi Development Authority (RDA) began to take on the role of historical protection.
Baba Khem Singh Bedi’s legacy is undoubtedly extensive and unfolded, but the palace’s architecture and frescoes may prove useful in future exploration of how cultures and beliefs have coexisted peacefully in the Potohar Plateau for millennia.
2. Masjid Rajgan, Bagnoter
The Masjid Rajgan is another attraction in Khanpur, Pakistan. This masjid, who is almost 140 years old, is still standing to tell his story. It has experienced many hardships over the years, and its majesty may have diminished, but its architecture and design, as well as the art and spirituality that have been witnessed here, make it incredibly remarkable.
Raja Sultan Jehandad Khan built it in 1872. The building was built with bricks and black stones, while the wood for the doors and cupboards came specifically from Leepa Valley.
Artists have been called in from Delhi, and as a result, the mosque assimilates all the basic elements of Islamic design. Its significance can be understood by looking at copies created in neighboring nations.
3. Sangni Fortress
The Sikh Period is thought to have begun in the late 18th or early 19th century. The grand fort served as a regional stronghold, with the aim of increasing authority over the area and increasing tax collection. A small hilly stream runs on three sides of the structure and is typically dry throughout the year. The fort is in remarkably decent shape.
The fort was most likely built during the Sikh period (1799-1849). In 1814, Sandhawalia Jat king Maharajah Ranjit Singh took over that region. It was created to maintain control of the region and to facilitate tax collection.
The British included this territory in Bewal. The fort gradually lost its significance and faded into obscurity. The guards of a discreet temple nearby moved the shrine to that fort. The fort is in fair shape, with intact walls, but the interior has been renovated and decorated due to the presence of Sahibzada Abdul Hakeem’s mausoleum.
Natural Resources in Gujar Khan City
Large oil and gas fields were discovered in February 2002 near Tobra, about ten kilometers from Gujar Khan. The Oil and Gas Development Company is developing the field. The field has the potential to produce 1,600 barrels of oil per day.
The Ahdi oil and gas field (Mastala) is located about 30 kilometers from Gujar Khan, near Daultala town, and is managed by Pakistan Petroleum. Huge oil and gas fields have been discovered in the Missa oil field, 5 kilometers from Gujar Khan, according to the Oil and Gas Development Company.
According to authorities, the find was made during drilling at well no. 3 from the Missa Kaswal oil and gas field near Tobra. The field has the potential to produce 1,600 barrels of oil per day. OGDCL is now looking for new natural resources in other regions of Gujar Khan.
Accommodation and Accommodation in Gujar Khan City
The lifestyle in Gujar Khan is almost the same as in other developed areas of Pakistan. Recently, we have seen a rising trend of entry-level housing in Gujar Khan. One of the next housing companies is New Metro City. New Metro City Gujar Khan / Rawalpindi is a model and extravagant project of BSM Developers. Following Gwader Golf City’s huge popular approval, BSM Developers will develop a new housing society to suit public demand. The purpose of this housing society is to provide people with the opportunity to live a royal lifestyle; Bahria Town and Gawadar Golf City are two examples of similar living standards; and, most importantly, to compete with housing societies that raise funds under the guise of development but deliver nothing.
New Metro City Gujar Khan’s main avenue will be carpeted and 250 feet wide. The main boulevard should have ample space as it is the main road coming to the housing society.
Many apartment complexes have a large main boulevard, but the streets themselves become smaller as you enter deeper into the complex. New Metro City Gujar Khan, on the other hand, has streets that are 40 feet wide, allowing you to park in front of your house without taking up too much road space.
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
Digital Power of Attorney for Overseas Pakistanis
A day after the joint session of Parliament passed 33 laws, including “the Election Second Amendment Act, 2021”, providing voting rights to overseas Pakistanis, the government launched a digital portal to assist emigrants with a certificate from a prosecutor.
Prime Minister Imran Khan’s launch of a platform for automation proxy is yet another innovative step for Pakistanis living abroad.
The service will help expatriates get online confirmation from their prosecutors without having to visit embassies.
It was first released in ten countries and has now been linked to NADRA’s database, enabling it to provide services to all embassies and consulates around the world.
Solution to Many Problems
In his remarks during the inauguration, Prime Minister expressed regret that abroad Pakistanis were not considered an asset to the country. He asserted that now that they have been given the right to vote in elections, every government will respect them.
He added that emigrants have problems with a prosecutor and that automation would solve their problems.
The Prime Minister also expressed his joy at the approval of a bill allowing electronic voting machines to be used in general elections.
Technology has changed the world, and refusing to adapt to it is ridiculous, he said, adding that only corrupt forces oppose it.
“It made me very happy yesterday,” the prime minister said during the ceremony, “because we have now involved Pakistanis abroad in the democracy of Pakistan.” He claimed that because emigrants now had voting rights, “Every government will value our foreign Pakistanis.”
The nine million non-resident Pakistanis will vote for the administration, which can improve their lives when they go to the polls. “The most important advantage will be that a citizen can control the government with his vote in a democracy,” he said.
Certificates of Inheritance
Through biometric verification at Pakistani missions abroad, the National Database and Registration Authority (NADRA) would provide letters of administration and succession certificates to foreign Pakistanis, saving them the trouble of going to court.
The government has publicly disseminated the method of requesting the said documents through Pakistani missions to raise awareness of Pakistani expatriates who would otherwise have to languish in local courts and endure a lengthy process.
Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Pakistan Real Estate.
5 Types of Video Content to Promote Your Vacation Rental Business
If those who have done some online research for any trip will notice watching videos, this is the best way to get close to that place.
Whether tourists are looking for an ideal seaside home or even a downtown apartment, videography occupies the best place simply to visit the place in person.
Holiday rental owners can use video content to deliver things that photos can’t, so these could help owners get extra reservations.
Anyone can use platforms like Facebook or YouTube to post amazing, engaging and remarkable local listing videos that can help increase vacation rental bookings. Many people seem to be digital natives and respond much better to this kind of material.
Showing Property Video
A home walk highlighting the property’s greatest features is a very prominent kind of video.
The combination of videos and photos could be used to bring visitors to a detailed tour of the entire site, and aerial shots can show the outdoor environment and adjacent area.
To create humor, newly listed clips often include a narrator or background music. The best approach will offer a quick hyperlink for the location list so that consumers can learn more.
“About Me” Video
For an introductory video, the homeowner will describe someone’s business and describe to the visitors the particular features included and reasons that visitors will enjoy this place over a competitor’s locations.
Discuss when you entered this market, how that attracted you to rentals, and all the particular benefits the company offers that set you apart from your competitors.
You can post the clip on your social profiles. Give visitors the contact details, as well as details about the location or other location details. Add several important keyword terms in the title to improve the online visibility of the videos.
Give the public a visit to the neighborhood, highlighting its best features, including picturesque elegant places and views.
Visitors are eager to see everything they would do during their stay at the venue, and that’s why such a kind of film might be packed with helpful information. This can describe why visitors should spend a vacation in that place and give them a list of activities to perform and see if visitors will rent the home.
To complete the property advertisement, this is also an excellent natural material to publish on online portals or social networking accounts.
Comments seem to become usually convincing, but audio-visual testimonials from happy visitors can almost certainly be much larger.
To create a video testimonial, invite any satisfied visitor if they might be willing to appear in any. In return for their time, a special deal, discount or additional coupon could be given to visitors.
This is amazing to expose the site, however, once others get nice reviews spread that don’t come from a business, it has much greater importance.
If the company has a Questions section, why not just put such useful hints as a video?
This may teach visitors exactly how everything works on the site, educate visitors about the housing regulations and answer every additional typical question about a visitor in the video, including text or even storytelling.
Because of the audio-visual aspect of the responses in the clip, they may be much more inclined to remember, which means that smaller visitors might raise such concerns, and anyone who does so would be less likely to doubt them later.
Users are aware of the impact that quality photos can have on the overall performance of any rental unit.
Even videos can bring more visitors to the listed website and reinforce specific reasons why anyone should choose it over others, which can improve the holiday rental bookings almost as well.
And, fortunately, creating a video is now simpler, unlike before. Users can hire a video creation company to help them record and create the video or you can create it yourself. In that case, users might be able to get greater results and satisfy consumers.
Be sure to experiment with a variety of methods and promotional platforms unless you discover something that works for the vacation rental company.
Also, if you want to read more informative content about construction and real estate, keep following Feeta Blog, the best property blog in Pakistan.
Govt urged to introduce soft taxation regime for real estate sector
LAHORE: The government must formulate special policies and introduce a soft tax regime for the country’s real estate sector.
This was the result of the speeches made at a seminar on houses and real estate at the Commercial and Industrial Industry of Lahore (LCCI).
The seminar was attended by LCCI interim President Faheemur Rehman Saigal, Al-Jalil Developers Chairman Nasrullah Waraich, Federal Task Force on Housing Manager Zaigham Rizvi, renowned architects Professor Jason Pomeroy, Yaqoob Tahir Izhar, Akber Sheikh and Mian Abuzar Shad.
The experts noted that in Pakistan the population is growing rapidly, resulting in the expansion of residential areas and increased the need for food and other necessities.
LCCI interim president Faheemur Rehman Saigal said Pakistan is the only country in the region where residential areas are spreading every day, adding that no fundamental change in construction technologies has occurred since independence.
Citing an example from Singapore, he said in 1965-66, Singapore was one of the worst slums in the world. “But they’ve been working on it and now they have great community structures.”
He urged the government to take immediate measures to deal with the uncontrolled expansion of residential areas and consequent downsizing of the agricultural areas.
Saigal further stressed the need to bring the real estate sector within the formal economy, as it was the second largest sector in the context of employment.
The acting president of LCCI said real estate is an important sector of the economy that needs to be protected by favorable policies and a mild tax regime. “The sector has the potential to attract not only local investors but also foreign Pakistanis and foreign investors.”
He said the fungal growth of housing societies is consuming the agricultural land and is an agricultural land, Pakistan cannot afford it, suggesting that this issue could be addressed through horizontal housing developments.
“Despite being a dynamic sector with the capacity to attract huge foreign investment, the real estate sector has faced unfavorable circumstances and struggled to survive due to redundant policies and heavy taxation.”
He said the government will not be able to achieve its economic goals without the support of the business community, which suffers severely from the severe issues like attachment of bank accounts, political instability and heavy taxation on trade and industry.
Investment In Commercial Property In Pakistan
Commercial real estate in Pakistan has different characteristics that distinguish it from a dwelling house.
It is not a simple job to invest in commercial real estate. Before investing, there are also things to look at. Business investment in Pakistan includes the choice of the site, the number of feet, how many people visit the region per day, price, price for money, and so on.
It is just as difficult to find the right property for your company, whether it is rented or purchased. Property is another aspect that needs to be targeted in the form of the company so that the investment is not lost.
That is why here are some outstanding advantages and handy tips for investing in commercial real estate in Pakistan.
By building equity in your real estate business, you will use it to further expand your business without jeopardizing your business. This helps you deal with the development of your company more flexibly.
It also gives more options when the retirement period arrives. As a company owner, you can either directly sell the practice and underlying property during the retirement period, or just sell the practice and rent a commercial property that provides a source of income.
Investments such as stocks do not allow for anything more than buying and selling, however, provided requirements are met and necessary permits from a local authority are secured, commercial homeowners can invest in their real estate.
A commercial property owner in Pakistan can upgrade, restructure the property outside or inside, increase rents or even modify its zoning. Inflation will bring value to current features as well. While new developments may cost more than building older properties, existing sites and the more recent local construction are still growing in value.
Tax Benefits And Maximum Returns
It can be a dynamic place to invest. Unfortunately, it is not only black and white as a profit generation. Taxes and other external conditions can also affect business activities. These elements can be used to your advantage when working with real estate.
The value could rise in terms of market valuation and financial value for you, but over the years the building itself would certainly decline. The direct decline indicates that the physical value of property decreases over 27.6 years. Meanwhile, after more than a decade, other features will fall apart. This loss will offset a market value gain that actually contributes to a better outcome.
A competent accountant would require these considerations. However, in most markets, such resources are not open. Here is another explanation for preferring industrial ownership over other solutions.
Cash Flow Perspectives
You must pay the premium for an additional cash flow of rental income if you own a commercial property with room for tenants. Tenants are willing to use their money to pay for the purchase of their land, offsetting the expense of saving.
It is important to note, however, that tenants include responsibility for property maintenance, which will diminish the presence of the main commercial properties.
Practical Tips For Investing In Commercial Real Estate In Pakistan
- One must understand the state of the market, including tariffs and the value of land, so as not to deceive man. It is extremely important to keep yourself up to date. In relation to residential and commercial property, is a great distinction, so the characteristics of both forms must be understood.
- You need to prepare yourself so that you know when, why and how to invest in company property, because there is only one factor you need to consider when investing.
- You need to remember whether the position would offer you capital growth or not, whether the site has construction potential or not.
- The land has or does not have the most important lease option. If you do not want to use the feature yourself, you must rent it.
- The land should also include important amenities such as parking lots and electrical supplies.
Govt jacks up property valuation rates by average 20%
On Friday, the government took the decision to raise property rates by around 20% for 21 major cities across Pakistan, focused on filling the gap that allows black money to the economy.
The second phase of aligning real estate appraisal rates in line with market rates has been due since July 2017 and the previous PML-N administration has twice delayed the growth, reports an English daily.
This step will allow the government to reap an additional Rs5 billion in tax revenue in the last five months (January-June) of the current financial year 2018-19.
The tax regulator announced on Friday the revised real estate estimates and more areas have been added to the existing cities aimed at broadening the coverage.
Federal Revenue Board (FBR) spokesman Dr. Hamid Ateeq Sarwar said taxes on average had risen by 20% and general property tax rates had risen between 15% and 25%.
According to Sarwar, due to the latest revision, real estate estimates have come closer to 60% of real market values.
He added that the final phase of the growth will start from July or September, which will bring real estate estimates to 80% of market estimates.
However, the tax regulator did not add more cities to the list and kept it unchanged at twenty-one and these rates take effect from 1 February.
The movement is directly focused on collecting federal taxes on the sale and purchase of real estate.