A Guide to Rental Property Financing
Rental property financing is complex for new investors to understand.
Real estate investments are highly desirable as they provide opportunities for sustainable growth. For the majority of investors, buying rental properties can be the right way to start in real estate. Rental properties can be a source of healthy passive income. With time, expanding and diversifying this real estate portfolio becomes desirable.
However, financing the first rental property can be challenging. For a first-time real estate investor, the right funding for the first rental property is essential, otherwise, it can turn out to be a problem in the future.
However, financing has become very difficult for new investors due to trust issues in the market. For investors with decent credit sources, there are several ways to arrange funds.
A conventional way to invest in rental properties is saving money for down payments and arranging mortgages for the remaining payments. However, this is not the only path to financing rental properties.
Feeta.pk, Pakistan’s smartest property portalprovides a complete guide on rental property financing.
Ways to Rental Property Financing
The following are some of the ways that can help generate rental property financing:
- Private funding
- Online mortgage providers
- Seller financing
- Home equity
- Group investing
Let’s discuss these sources in detail.
The real estate market has giant investors and businessmen who are always looking for different investment opportunities. They provide buyers with private financing with interest. The process is quite similar to the conventional mortgage payments, but a quicker one.
For people who are looking to expand their portfolio in the real estate market, private financing can be an excellent way to fund properties. Traditional mortgage payments are slow and require documentation and legal procedures. However, a private funding source will provide you with the required funds with little documentation and no hassle related to legal procedures.
Rental properties are mostly financially feasible investments with a positive cash flow each month. In such cases, buyers can avail private funding for short periods and then shift to mortgages later on. This will allow them to save more money from rent.
Buyers must also keep the high-interest rate factor in mind. Private lenders take higher interests as compensation for payments of large sums in a shorter time. However, this factor should not stop buyers from availing quick funds.
Online Mortgage Providers
Arranging a traditional mortgage is a complex and daunting task. It takes anywhere between three to seven weeks and lots of documentation procedures to get a traditional mortgage approved. The conventional mortgage process is complete in six steps:
- Property shopping
- Mortgage application
- Loan processing
To avoid this toil and lengthy procedures, finding an online mortgage provider can be a good choice. Rental property loan from an online lender is hassle-free and convenient. Buyers do not require to visit any banks and arrange brokers for the legal procedures and paperwork. All they have to do is to fill out the mortgage application online from their computers or mobile phones.
Online mortgage providers usually do not demand debt-to-income (DTI) details or any details about property size. This helps buyers get the required loans and invest them in any property of their choice. Moreover, loan repayment conditions are also flexible.
Seller financing might not seem like an appropriate idea while thinking about rental property financing. But, in cases when investors are unable to find finances from traditional or online mortgage providers or private funding, this can be a good option to try.
Seller financing is the process of arranging finances from the person who will sell you the property. If the property owner agrees to lend you the funds, it might be the easiest way to finance your rental property. Banks and credit unions have lengthy procedures to follow.
Seller financing has two major scenarios: first, where the seller finances the entire purchase; and second, where the seller finances the down payment. In both cases, the deal becomes easier to conclude.
However, getting finances from the seller is not an easy procedure. Most sellers may not sponsor the deal as they might want to sell their property to finance other projects. The trust factor also comes in while the talks are in process.
The contract must outline all the terms and conditions of seller financing to take the owner in confidence. Moreover, the owner should be aware of all the legal procedures and documentation that will provide a guarantee of payments over time.
As a buyer who may have an old property in his / her name, an investor can draw money through a property equity loan or cash-out refinance. In most cases, it is one of the best ways to finance a rental property. Property lenders take your existing property as a guarantee to give you loans. The loan can then be refinanced in a new property.
Additionally, investors can borrow loans on their existing property. Most properties can fetch 80% loans of the equity value. On the other hand, cash-out refinance only gives a fixed rate of the loan. In all cases, the process can save you from paying extra payments to banks. ‘
For investors with limited sources and no other means to finance the rental properties, group investing can be a profitable way to do so. There are hundreds of people out there in the market who can connect and invest in groups.
The concept is very similar to stocks and shareholding. Every individual in the group will get the shares in the rental property according to their investment percentage. This method is being used as ‘real estate investment trusts’ in big real estate projects.
Factors to Consider While Purchasing a Rental Property
Buying and financing a rental property is a complex process. Several factors should be considered before selecting any property and pouring money into the market. The following are several factors that every rental property buyer must keep in mind:
- Buy a low-cost property
- Avoid high-interest rates on property loans
- Calculate the right repayment margins
Buy a Low-Cost Property
While starting ventures in the real estate market, investors want to invest in big projects. Most times, it proves to be a big mistake. Similarly, for small investors, it is essential to think before making any investments. Small and low-cost properties are profitable and better investment areas. Higher mortgage payments burden the cash flow from the property as well.
So, to maintain a considerable amount of monthly rent and pay the mortgages, low-cost properties are very convenient.
Avoid High-Interest Rates on Property Loans
Over the past few years, property prices have skyrocketed and so have the interest rates on loans or mortgage payments. However, some banks and lenders are charging more than the average market rates. Therefore, while purchasing any property on loans, it is essential to look for the right mortgage providers.
Arranging a low-interest mortgage provider will help investors save money from the monthly profits. Moreover, it will help property owners during any renovation work later on.
Calculate the Right Repayment Margins
Calculation of the right repayment margins is as essential as selecting a low-interest mortgage provider. If the investor is not aware of all the expenses, he or she might miscalculate the payments and profits. It will lead to mismanagement, eventually burdening the owners. Therefore, investors must plan the loan repayment strategy.
Other costs such as home insurance, association fees, property taxes, regular maintenance costs, and pest control expenses should also be part of the payment plan.
For more information about rental property investments, visit Feeta Blog.
10 Most Commonly Asked Questions About Real Estate Investment
To answer the most commonly asked questions about real estate investment, understanding various factors is essential.
Real estate investment seems overwhelming to beginners because of the significant financial growth linked to it. In Pakistan, it is one of the most lucrative and highly-profitable investments. Construction projects across the country are attracting investors to secure their assets for a better future.
However, investing in the real estate industry is a complex process. Many new investors fail because they are unaware of the factors that can influence their investments. They tend to repeat common mistakes and lose their investments. So, a solid knowledge of the industry is essential before pouring money into real estate.
One way to predict the ups and downs of the market is to ask questions from experts. Real estate market analysts keep a track of key factors over time as it helps them predict market dynamics accurately. Gaining their insights can give you direction when investing.
Feeta.pk, Pakistan’s smartest property portal brings you answers to the 10 most commonly asked questions about real estate investment.
10 Most Commonly Asked Questions About Real Estate Investment
Familiarity with answers to the most common questions of real estate investment can help to avoid the most common mistakes during real estate investment. Here are the questions that every new real estate investor asks:
- What are the ways to determine the value of an investment property?
- How can one finance real estate deals?
- What is the best real estate investment strategy?
- Where can one find profitable investment areas?
- Can investments in real estate begin with no money?
- Are real estate agents essential to buy or sell any property?
- How can one predict rent charges for their property?
- How can one find the right tenant for a property?
- Who handles the basic repair value of a property?
- What should be the financial goals?
Let’s dig into the details of these questions and find out the answers.
What are the ways to determine the value of an investment property?
As a beginner in the real estate market, it can be difficult to find out the prices of properties. When it comes to selling or buying a property, both sides involve different factors. So, what are the ways that can help determine the value of a property?
Comparative market analysis (CMA) is one of the best methods to solve this problem. While working in a market with many properties on sale and many investors involved, it is easy to predict the rates of a property according to the area. An in-depth analysis of the most recently sold properties can give you the best estimate.
CMA reports are set by the real estate agents in the market, which helps new sellers and buyers with listing prices and estimates for investments. CMA compares one property to another with the same features, area, and facilities.
Another way to predict a property’s value is to get help from government officials. Land record offices have all the properties listed according to their locations. Moreover, they set a base price per sq. ft. of each property. Hence, it can help a lot in predicting the overall price of the property.
How can one finance real estate deals?
For most beginners, financing a real estate deal is the biggest problem. With no stable income sources, they fail to invest in any property and eventually fail to get started. However, proper awareness of potential sources that can generate finances for investments can be helpful.
There are two ways to generate finance: selling an old, self-owned property or acquiring conventional property investment loans. The first method can become a source of positive ongoing cash flow. Selling a home and then buying a new property can give you hefty annual returns on your initial investment.
Most people living in rural areas of Pakistan own a large number of properties. But, due to remote locations, these properties are considered practically worthless. So, these days, people from rural areas are selling their properties and investing in real estate projects in major cities instead.
On the other hand, for most investors with no previously owned property, loans are the only way to start real estate investments. However, these investments are not desirable as annual returns are not too high.
What is the best real estate investment strategy?
Without a proper strategy, a real estate investment is bound to fail. According to real estate experts, most beginners lose their investments because they do not strategize beforehand. Beginners are under the false impression that possessing a sufficient amount of money is all that is required, and it will give them profitable returns straightaway. However, the reality is pretty much the opposite.
Successful real estate investors formulate a strategy based on their investment goals, which helps them in their next venture. It provides them with a timeline to hold on to their assets and then invest at the right time. So, tuning investment strategy to goals is essential.
Generally, there are three main strategies that successful investors follow: opportunistic, add-on, and core. Moreover, factors such as types of property and location can also influence the decisions. For example, commercial properties are profitable as compared to residential properties.
How can one find profitable investment areas?
A very important factor to consider before investing in real estate is to choose the right area. Pouring money into properties with no real value is not a good strategy. With the recent widespread development of residential and commercial projects around Pakistan, property prices have skyrocketed.
Commercial properties have a higher value as compared to residential properties. For an investor who is looking to grow assets in a relatively short time, investment in commercial areas is recommended. Houses need repairs and time to increase their value.
Moreover, the availability of water, gas, and transport systems near a property also influences its value. If it does not have such facilities, it is not desirable for buyers.
Can investments in real estate begin with no money?
The state of one’s finances is the most important factor to start a real estate investment. However, in cases where investors do not have enough money to pay for down payments, investors need to be more creative. Funds can be generated in several ways to finance a real estate deal. However, these cannot be guaranteed every time as the market keeps changing. Some of these ways have been listed below:
- Real estate partnerships
- Wholesale dealings
- Conventional property investment loans
- Home equity loans
Are real estate agents essential to buy or sell any property?
One can start investing in the real estate market without any external help. However, the process will be time-consuming and rigorous as the market is much more complex to understand. The presence of a real estate agent can help a great deal as they are aware of all the complexities of the market as well as the processes that are involved in a property deal.
From evaluating markets, finding an attorney, and getting pre-approved loans, to negotiating and closing the deal, the real estate agent makes everything smooth and easy. However, with hundreds of agents in the market, scammers get the chance to target investors. So, choosing the right real estate agent is also important.
How can one predict rent charges for my property?
For investors who purchase properties to rent them out, a basic awareness of the right rent charges is essential. Proper rent estimation helps in advertising the property. An over-estimated property may remain vacant and a low-rented property might end up in negative cash flow.
An analysis of how tenants navigate the competitive rental market gives the best estimate of a property’s rent. Local market conditions and rates can also help you in advertising your property with the right rent charges.
How can one find the right tenant for a property?
If you have rented out a property, you would want to ensure that it is kept safe and protected. A good tenant takes care of your rental property and also makes rent payments on time.
When choosing the right tenant, proper screening is important. Check the references they have provided you with for a more thorough screening process.
Who handles the basic repair value of a property?
While purchasing any property, buyers are concerned about the expenses of basic repairs. Hiring professional teams can cost you a lot of money and affect your profits. If you are a new buyer, you should preferably do all the minor repairs yourself. It will help you keep the cost in control.
However, if you are a potential real estate investor, then you can hire a team to carry out all the repair and renovation work, as this helps to enhance the overall rates of a property.
What should be the financial goals?
Just like the right strategy, the right financial goals are also important. Whether you are a part-timer or a full-time investor, you need to have everything figured out. Should you hold on to the property until prices appreciate to make a profit? Or should you buy a commercial property to start your own business?
Before you start investing, also try to make an accurate calculation of whether you might end up losing money in the first few months, the point at which you may break even, and how much you can expect to make after three to five years.
Factors Influencing Real Estate Investment
Apart from all the above questions, new investors must also be aware of the factors that can influence their real estate investments:
- Demographics of the country
- Government policies
- The annual budget of the country
- Employment opportunities
- Interest rates on loans and property
- Market trust
- Tax policies
To get more information about real estate investment in Pakistan, visit Feeta.pk.
Tips to Get the Best Deal on Your Property
To get the best deal on your property when it comes to buying or selling a property, you need to avoid some common mistakes. Selling a property, in particular, is a more complex process. From preparing the house for selling to finding a suitable buyer, the process takes a lot of time to secure the deal.
A property is probably the most expensive asset an individual owns, so selling comes with an element of caution. Most property owners sell their property because they need immediate finances to manage expenses or invest in some other project.
While visiting a property on sale, most buyers generally offer less money than your property’s actual worth. Moreover, they will criticize several elements such as home design, closet positioning, and color choices. It can be emotionally challenging as a place is more than walls and roofs for the owners.
With no experience and knowledge, property owners face heavy losses while selling a property. However, a little know-how about the process can help secure the best deal with the highest possible rates in a reasonable time frame.
Feeta,pk, Pakistan’s smartest property portal, brings you essential tips to get the best deal on your property.
Tips to Get the Best Deal on Your Property
The following are some essential tips that property owners can follow to get the best deal on their property:
- Prepare your home for selling
- Improve your home’s exterior
- Make the repairs
- Be patient while selling your property
- Do the Comparative Market Analysis (CMA)
- Choose a realtor carefully
- Setup a realistic price
Prepare Your Home for Selling
Before buying a property, the buyer imagines himself living inside it. If everything is properly arranged and decluttered, buyers can put in a good offer.
The following are certain measures that you can opt to prepare your property for sale:
- Thoroughly clean every part of your property
- Get rid of the clutter
- Depersonalize by removing family photos
- Rearrange all the furniture
- Move all the bulky items to storage
Apart from these measures, you can hire property stagers. They will showcase your best assets in order to impress the buyers. Stagers help property owners in selling their properties in a reasonable time frame.
Improving the Property’s Exterior
The exterior of a property is the first impression potential buyers have of your place. Hence, if you want to sell quickly, make sure your property’s exterior is attractive. For that reason, you should consider taking the following measures:
- Clean your house’s surroundings
- Consider minor repairs and maintenance of exterior elements
- Wash the windows
- Repaint some parts of your home, if needed
- Replace your door handles, if required
- Clean the pathway from the curb to the porch
- Prune the outgrown bushes and straighten up uneven paths
- Dust away debris and spiderwebs from windows
Taking these measures will make your home appealing to visitors and leave a positive impression.
Make the repairs
Minor repairs can greatly impact your property’s selling price. If you do not have enough time to do full renovations, you can focus on quick repairs. A complete survey of the house will point out all the areas that need quick fixing, such as:
- Loose tiles in bathroom and kitchen
- Loose hinges on doors and cabinets
- Stuck drawers and cabinets
- Leaky faucets
- Stains on carpets
If you have enough budget and time, you can add new hardware as well to make your home more attractive.
Be Patient While Selling Your Property
Most people want to sell their property as soon as possible because they think selling property is a piece of cake. However, it is completely the opposite. If you want to sell your property quickly, you probably need to rethink your strategy because a hasty decision will result in big losses.
If you do not analyze market prices and dynamics, real estate agents and buyers will benefit from the situation. The real estate market keeps fluctuating and you should wait for the right time to make your decision instead of rushing the process.
Even if you have spent money on quick repairs or renovation, this may backfire if you haven’t taken the current market conditions into account.
Do the Comparative Market Analysis (CMA)
In the real estate business, a comparative market analysis is essential. If you are unaware of the market factors and dynamics, your investment might crash down. Your asset is the most valuable thing that you have and, for that, you need to be mindful.
CMA report will provide you with the following essential elements:
- Addresses of all the comparable properties in the area
- Description of all the properties including floor plan, facilities, and amenities
- The sales price of each property
- Prices of recently sold properties
- The fair market value of properties
- Neighborhood Details
Apart from these factors, the CMA report gives you a realistic estimate of your property’s price. So, comparative market analysis saves you from fraud and losses and you can get the best deal on your property.
Choose Your Realtor Carefully
Being new to the real estate market, you might not be able to understand the complex process of property selling. In such cases, you should hire a real estate agent after proper research. Although real estate agents usually charge 2-4% of the final cost, they help in securing a good deal.
A good real estate agent will keep your interests at the core of his business. He can present your property in much better ways to potential buyers. The following are the main responsibilities of a real estate agent:
- Facilitate meetings with potential buyers
- Carry out CMA and set the property’s price
- Prepare listings preparations for clients
- Take photographs of the property to present it on digital platforms
- Market your property
- Make property repair suggestions
- Stage home for a better impression in front of clients
- Process documentation, agreements, and records
- Coordinate meetings and appointments
- Secure the best deal
Set Up a Realistic Price
Setting a realistic price for your property is very crucial. While listing your property for sale, you should consider a comparative market analysis. It will help you decide the right price for your property. Just like all sellers, buyers and their real estate agents also conduct comparative market analysis so they have an idea about property prices in a particular area.
If you have set a high price for your property, chances are it will remain unsold. Similarly, setting lower prices will result in losses. Therefore, a balanced strategy is helpful in this regard.
How to Differentiate Your Property from Other Listings
With thousands of listings available online, buyers can easily get overwhelmed navigating through a sea of properties. There’s a high possibility that your listing may get swept under the plethora of estates that already stand out. Under such circumstances, the only way to cut through the noise is to differentiate your property from other listings.
If you’re not sure where to start, we have you covered. Feeta.pk, Pakistan’s smartest property portal, features an in-depth guide on how to differentiate your property from other listings.
How to Differentiate Your Property from Other Listings
Even if your property offers something that others don’t, buyers will have no way to find out unless your listing is shaped in a way that stands apart. A listing that is able to instantly catch the attention of buyers is one that is more likely to be sold quickly as compared to others. Follow these steps and make your listing truly unique.
Stage Your Listing
When buyers look at pictures of a listing, they want to imagine themselves living there, something which is not possible with pictures of an empty, dull room. This practice not only attracts more buyers but also increases your property’s value.
Real estate experts have estimated that a staged home is likely to sell for 17 percent higher than non-staged homes on average. Moreover, the rate at which these listings get sold is also significantly much faster.
Hire a Photographer
Simply taking pictures with your phone may seem like an easy and tempting idea. However, selling your property is a big deal, meaning you should go all out on presenting your property in the best way possible.
Hire a professional photographer, one that specializes in shooting interiors. Since online listings rely primarily on photos, low-quality DIY photos may lower your chances of finding a buyer.
Highlight the Best Features
Not every part of your home needs to be photographed. Highlight the part of your home that stands out, something that others cannot offer. This can also take away the attention from a few undesirable features of your property.
If you have a spacious living room with plenty of natural lighting, highlight it through images and by mentioning it in the listing’s description. These factors can amount to a significant differentiation from other listings, allowing yours to stand out.
Keep It Neat
A cluttered and messy space not only looks unappealing and uninviting but also bars buyers from envisioning themselves living there. When taking photos for your listing, ensure that the room is clean and free from any of your personal belongings.
A polished and inviting space offers the perfect imagery for buyers to visualize themselves with their own belongings.
Provide a Floor Plan
Most listings tend to leave out one essential detail of the property – a floor plan. A detailed floor plan provides a bird’s eye view of the overall layout and design of the property. This information allows buyers to visualize the property and get an idea of how their furniture would fit.
Know Your Keywords
One mistake that most sellers make is erratically describing the property. This makes it hard for buyers to skim through the details, forcing them to move on to the next one. Knowing a few keywords pertaining to your property can make it easy for buyers to find exactly what they are looking for.
You can use keywords to either highlight the property’s main features or use descriptive keywords for triggering imagery. Some of the most common keywords you can use for describing your listings have been listed below.
- Wooden Flooring
- Air Conditioning
- Close to Public Transport
- Commercial Areas Nearby
- City Views
- Master Bedrooms
- Stainless Steel Appliances
Provide a Virtual Tour
Apart from photos and floor plans, you can also upload a virtual tour of the whole house. This allows buyers to completely visualize the flow of the property. You can hire a professional videographer to shoot a thorough house video, showcasing the highlights of the property.
A 3-D floor plan is another way to provide some virtual insight into the property’s floor plan. This option might be a bit on the pricy side, but it will certainly be worth it. A 3-D plan not only allows buyers to visualize the interiors but also differentiates your property from other listings.
The Bottom Line
Even if your property is exceptionally unique, buyers will have no means of knowing that unless your listing is able to transcribe the same attributes. With thousands of listings already available, a differentiating factor is the only thing that can allow your property to stand out and garner attention from the right buyers. Use this guide to differentiate your property from other listings and find the best deal.
For more information, visit Feeta.pk – Pakistan’s first online real estate marketplace.
Should I Buy a House Near a Train Track?
With cities expanding at immense rates and the need for housing at an all-time high, buyers have been left with no choice but to consider settling down in rather unconventional localities. Such is the case with those that are considering buying a house near a train track. As the decision comes with a myriad of benefits and drawbacks, many of you will be plagued by the question; should I buy a house near a train track?
To help you thoroughly evaluate and make an informed decision, Graana.com, Pakistan’s smartest property portal, features an in-depth analysis of buying a house near a train track.
Pros and Cons of Buying a House Near a Train Track
Despite seeming like an obvious pass, a house near a train track can offer a number of benefits. Some of these may even be enticing enough to forgo the few cons of this situation. So, if you’ve come across an excellent property near a train track, don’t let it slide by without considering both sides.
Pros of Living Near a Train Track
A property near a train track has several benefits to offer. Depending on your situation, some of these benefits might be just what you were looking for. Following are some of the pros of living near a train track.
If you’re on a tight budget, a property near a train track might be the perfect option for you. Since most people tend to avoid living near turbulent places, the values of properties tend to be much lower as compared to other city areas.
If a compromise can be made on the strident sounds of trains passing by, these properties can offer some of the most reasonable prices out there – perfect for those on a smaller budget.
Since train stations accompany train tracks at regular intervals, there is a high probability that your property will be close to a train station. This serves as a substantial benefit for those that commute through public transport.
Moreover, train stations are surrounded by public bus stops, motels, restaurants, and overall well-developed infrastructure. These amenities and services make properties near a train track a good option for regular travelers and commuters.
Another benefit that areas near train tracks offer is better infrastructure. As trains produce much traction in the locality, governing authorities are forced to invest in improving the surrounding areas. This could either mean better facilities and amenities, or a well-developed roadway surrounding the locality.
Cons of Buying a House Near a Train Track
Buying a house near a train track comes with its own set of problems. From the regular blaring noise to a low resale price, these properties offer a myriad of drawbacks that should be thoroughly evaluated.
The incessant rattling and deafening sound of trains are one of the few reasons why buying a house near a train track can be so off-putting. Living near such high-intensity noise pollution can have severe repercussions on your health – both physical and mental.
Train transits during the day might be bearable, but night-time freights are surely an impediment. Regular sleep disturbance can lead to serious sleep-related issues such as insomnia or sleep deprivation.
Low Resale Value
Houses near train tracks tend to favor the buyer’s market, owing to the low demand for these properties. If you are buying a property with the intention of investing and reselling, a house near a train track will be detrimental to your investment.
If you do plan on buying a house near a train track, carefully evaluate your future plans since reselling these properties can be a hassle. From finding the right buyer to getting a good price for the property, the hassle of reselling these properties is just not worth it.
Trains emit an immense level of gaseous waste that is not only detrimental to the environment but also to your health. Given the high quantity of carbon monoxide and sulfur dioxide that trains produce excessively, your respiratory system could sustain severe deterioration.
Since train tracks are generally located on the outskirts of the city, a house near one will surely be far from the city center. This may seem like a benefit to those who prefer a secluded lifestyle. However, living in a far-off area would also mean giving up on essential services and facilities.
This can be an even greater issue for those who have jobs in the city. Commuting to and from work can take up considerable time, not to mention the higher costs that come with increased distances.
Tips to Consider While Buying a House Near a Train Track
If you plan on buying a house near a train track, you will inevitably have to deal with the drawbacks. However, there are a few workarounds that you can employ to make living near a train track slightly more bearable.
Invest in Insulation – To reduce the incessant rumbling, triple-glazed insulation can be the perfect option.
Buy an Air Filter – Air filters are a great choice to reduce the overall impact of air contaminants.
Study the Schedule – Most trains and cargo freights have a fixed schedule. You can align your routine along with the train’s schedule, ensuring you don’t get interrupted suddenly by a train passing by.
Buying a house is a once-in-a-lifetime decision, meaning it should certainly be thoroughly evaluated. If you are considering buying a house near a train track, these pros and cons should be meticulously analyzed. However, it all boils down to your personal preferences and deal-breakers. For more information, visit Feeta.pk – Pakistan’s first online real estate marketplace.
Everything You Need to Know About Bahria Town Lahore
Bahria Town Lahore, a luxurious residential project that offers a modern lifestyle and amenities right in the heart of Lahore. This planned and well-developed society offers a luxurious lifestyle to people looking to live far away from the hustle and bustle of the city.
Graana.com, Pakistan’s smartest property portal has compiled a list of the things which you should know before relocating or investing in Bahria Town Lahore.
Bahria Town Lahore Location
This beautiful gated residential society is located in the Iqbal Tehsil of Lahore. To be specific, it is just 15.2 kilometers away from Thokar Niaz Baig which connects it with Canal Bank Road. It is also in close proximity to another modern gated community; Sukh Chayn Gardens. You can easily access this gated community after crossing the shakham chowk on Canal Road.
Price of Plots, Houses and Apartments in Bahria Town Lahore
This flagship Bahria Town project is divided into different sectors and each sector is divided further into blocks. It has six sectors that are named Sector A, B, C, D, E and F.
The plots in sectors A and B are high in demand as they are located near the main gate. The residential plots for sale in Bahria Town Lahore are available in different sizes such as 5 marlas, 10 marlas and 1 Kanal.
However, on the other hand, people looking for houses in this prime-gated society can explore housing options in different sizes such as 5 marlas, 10 marlas and 1 Kanal.
Besides these plots and houses, the society has flats and apartments that are available in various categories and price points.
For your convenience, we have listed the price range of different housing units and plots in the tables given below.
Price of Plots Bahria Town Lahore
|5 Marla||PKR 50 Lakes – 75 Lakes|
|10 Marla||PKR 90 Lakes – 2 Crore|
|1 Channel||PKR 2.5 Crore – 3.75 Crore|
House Prices in Bahria Town
|5 Marla||PKR 1.1 Crore – 2.2 Crore|
|10 Marla||PKR 3 Crore – 4.3 Crore|
|1 Channel||PKR 5 Crore – 8.9 Crore|
Flats Prices in Bahria Town
|700 Square Feet||PKR 70 Lakh – 1.05 Crore|
|800 Square Feet||PKR 82.5 Lakh – 1.2 Crore|
|936 Square Feet||PKR 1.12 Crore – 1.12 Crore|
Amenities in the Society
Similar to Karachi and Islamabad, this modern housing society in Lahore also has a complete range of basic facilities. Additionally, it also comes with some modern amenities such as shopping centers, large community parks, top educational institutes, etc.
Following are some of the amenities that are available in this modern society.
Top-Notch Security System
Bahria Town Lahore is known for its top-notch security system. 24/7 patrolling of security guards and state of the art surveillance system ensure the residents of the community to feel safe and secure. This international standard security system prevents any suspicious person from entering the area.
High-Quality Educational Institutes
One facility that many people look for in the housing society is top educational institutes where their kids can get a quality education. Management of Bahria Town has launched multiple schools and colleges for the convenience of its residents. However, there are also some notable schools that have their branches in society as well. These include the Beaconhouse School System, the City School, Imperial College of Business Studies etc.
There are several international standard healthcare facilities available in the area. The society has its own hospital “Bahria Town Hospital” which is located in the Takbeer block. Some other notable hospitals, clinics and laboratories available in the society include:
- Poly Clinic
- Sharif Medical Hospital
- Chugtai Lab
This modern housing society provides a range of different entertainment facilities both for adults and kids. Some of them are listed below.
Safari Villas Park
This park features a variety of animals that are brought here from different parts of the world. Some of the animals include lions, deers, monkeys, etc.
Parks and Landmarks
This housing society is well-planned and has a world-class infrastructure. It has different community parks and landmarks that are well-maintained. You will find the replica of the Eiffel Tower which is one of the major attractions in the area that many people from other parts of the city come to see.
Besides educational institutes and hospitals, there is one more thing that homebuyers look for in a housing society; ie the presence of grocery stores, supermarkets and shopping malls nearby.
You will be pleased to know that this residential community has various commercial areas, shopping malls and supermarkets. People living in the area have access to all departmental stores and shopping areas where you can shop from all the major brands.
Restaurants and Cafes
Lahore is known for its rich variety of vibrant and delicious food. From traditional food places to renowned cafes, you may find different international food chains and local fine-dine restaurants. Some of the famous international food chains in the area are Papa Johns, Dominos, KFC etc.
Local eateries like Johnny Jugnu, Ravi Restaurant, and Butt Karahi are also available in the area.
Grand Jamia Mosque
Bahria Town Lahore has the 14th largest mosque in the world and the third-largest mosque in Pakistan, having the capacity of 70,000 worshipers. This mosque draws architectural influence from other historical mosques in Lahore like Badshahi Masjid, Wazir Khan Mosque and Sheikh Zayed Mosque. The Grand Jamia Mosque has 4 minarets and 20 small domes.
Just like Bahria Town Karachi and Islamabad, you get an uninterrupted supply of electricity in Bahria Town Lahore. There is no load shedding in the area as a result of the management’s collaboration collaborated with the Lahore electricity supply company.
If you want to know more about other Bahria Town projects, visit our blog at Feeta.pk.
What You Need to Know About Living Near an Airport
Choosing a place to live is probably one of the most important decisions a person has to make in their lifetime, and with rising real estate prices, the choices are limited. There are several factors to consider when looking for a property, however, price and location are the main factors that influence our decision – even more so when considering living near an airport.
There is always a tradeoff in finding the perfect home since no property can fit the definition of “the perfect home”. Living near an airport might not be the ideal choice but some people have adapted and have found their “Perfect Home”.
A person who wants a calm environment might not prefer having their house being in the vicinity of an airport. On the other hand, a hearing-impaired person or someone with a job at the airport might instantly snap at the opportunity of lower-priced properties.
To help you make the right decision, Graana.com, Pakistan’s smartest property portal, features everything you need to know about living near an airport.
Pros of Living Near an Airport
An airport is the hub of all major transportation routes and living near one comes with some enticing benefits.
If a property, especially residential, is located near an airport, its value is automatically lowered by some margin due to a variety of negative attributes associated with airports. However, this is not an iron-clad rule as some commercial properties may rise in value. Although, if you can adapt to living near an airport, cheaper home prices are something to look forward to.
Quick Access to Main Highways
Airports have quick access to the main highways as they require high-quality road infrastructure. Convenient access to the main highway usually means that traffic issues are mitigated and most places in the city are relatively easy to access.
Never Miss a Flight
This might seem like an obvious and small benefit but for frequent travelers, traveling to and from the airport can take up a sizable portion of time that could be used for other important tasks.
An airport is a megastructure and requires many auxiliary systems to keep it running smoothly. This opens up several opportunities for jobs at the airport. Airports claim that they create jobs. However, this number is usually on the optimistic side and should be taken with a grain of salt.
Cons of Living Near an Airport
An airport is a very busy place and living near one comes with a few significant downsides.
The most obvious drawback of living near an airport is noise pollution. A jet taking off registers very high on the decibel scale. An airport has about 4 times the amount of noise compared to an average urban living space. A high level of noise on the decibel scale certainly means that taking airplanes off would shake the whole building due to resonation.
Moreover, if an airport has a higher frequency of nighttime flights, it may disturb your natural sleep patterns, increasing the risk of detrimental effects on your health.
Commercial jets burn a lot of fuel and expel harmful particles into the air such as sulfur dioxide, ozone, and carbon monoxide. When jet fuel burns, it can leave behind a lot of microparticles. This can easily cause respiratory complications if exposed for prolonged periods.
Longer Travel Times
Due to their immense sizes and negative effects on quality of life, airports are generally constructed on the outskirts of the city. This means that if you live near an airport, a lot of crucial services such as hospitals, educational institutes, and shopping centers will be farther away from your house. It also means that your friends and family might not be able to visit you more often.
Pro tips to consider if you have no choice
Life doesn’t always present us with choices, forcing us to make do with what we have. Here are some tips to make living near an airport more bearable.
Triple glazed insulation can reduce noise levels by a significant margin and is a worthwhile investment to consider if you’re deciding on living near an airport.
- Study the Airport Traffic
Sometimes, an airport with lower traffic or low-powered jets might not be that much of a nuisance. Therefore, if the airport has no nighttime flights and you go to work in the morning, you can avoid a major portion of the noise pollution.
Air pollution is a major issue and high-quality ventilation systems with good air filtration can significantly mitigate the number of pollutants you breathe.
High-quality air purifiers can significantly help with the problem.
Airports are being constructed in more and more cities as the economy expands. Some of the most prominent societies to look out for in the three main cities of Pakistan have been listed below.
Islamabad is the capital city of Pakistan and is host to some of the most modern infrastructure in the country. Some housing societies and their distance from the airport are listed below.
- Supreme court housing society (10km)
- Eighteen (23km)
- Top City 1 (10km)
Lahore is also host to some impressive housing projects in the vicinity of the Allama Iqbal International Airport. Therefore, a few have been listed below.
- Askari 10 (6km)
- DHA 5 (10km)
- Cantt housing scheme (6km)
Karachi is the most populous city in Pakistan, resulting in limited choices for deciding where to build houses. Some of the prominent housing societies near Jinnah International Airport have been listed below.
- Model Colony (3 km away)
- Green Town, Shah Faisal (3 miles away)
- Malir Cantt (7 km away)
While every neighborhood has its downsides and upsides. Certainly, it all comes down to your particular preference and circumstances and how you adapt to them.
For more information, visit Feeta.pk – Pakistan’s first online real estate marketplace.
A Complete Guide to DHA Phase 6 Lahore
In the last few years, Lahore has seen a paradigm shift in the type of housing options it offers. From old city houses to mansions (havelis), the city is now giving way to modern and luxurious homes in residential societies like Bahria Town, Sukh Chayn Gardens, DHA etc.
The transformation isn’t a sudden one; it is due to the demand of the residents of Lahore for a modern and luxury lifestyle that has led developers to create these ultra-modern residential communities.
DHA Phase 6 Lahore is one such project that is offering quality living to residents. It is the housing scheme of the Defense Housing Authority, a renowned name in the local real estate market. They have developed several projects in Lahore such as DHA Phase 5Phase 7, Phase 8 etc., which garnered a lot of interest from investors and homebuyers.
DHA Phase 6 is a well-planned residential community with a vibrant neighborhood, high-class amenities and large commercial areas, which makes it one of the best places to live in Lahore.
If you’re planning to buy a house or invest here, you should know what to expect. This is why Feeta.pk, Pakistan’s smartest property portal has come up with an in-depth guide on DHA Phase 6 Lahore.
DHA Phase 6 Lahore Location
This phase of DHA is located between Barki and Bedian road. This residential society is connected to areas such as Dhira, Hera Shingwala, Defense Raya Golf Resort, and Lahore Ring Road. It is located in a prime location in the city, as opposed to DHA Phase 5. It has one of the best management schools (LUMS) in close vicinity (just a 20-minute drive away, to be precise).
Plots in DHA Phase 6 Lahore
This housing society is divided further into 13 blocks, namely A, B, C, D, E, F, G, H, J, K, L, M & N. The residential plot for sale in DHA Phase 6 Lahore is available in different sizes, such as 5 channels, 10 channels, 1 channel, 2 channels, with 1 channel being the most widely available in this society.
The main boulevard in the society is in close proximity to blocks like A, B, H, J and L. The main commercial plots in the area are available in 4 and 8 marlas. There are also 2 marla commercial plots available in each block.
If you’re looking for an affordable housing option in the area, you should opt for 5 marla houses that are available in the price range of PKR 1.3 crore to 2.5 crores. 1 channel houses for sale in DHA Phase 6 Lahore are available in the price range of PKR 7.5 crores to 11 crores. For your convenience, we have listed the price range of different residential and commercial plots.
Price Range of Residential Plots in DHA Phase 6
|Plot Size||Price Range|
|5 Marla||PKR 65 Lakes – 1 Crore|
|10 Marla||PKR 1.3 Crores – 2.5 Crores|
|1 Channel||PKR 2.75 Crores – 5.9 Crores|
|2 Channel||PKR 6 Crores – 13.5 Crores|
Price Range of Commercial Plots
|Plot Size||Price Range|
|4 Marla||PKR 1.1 Crore – 17 Crores|
|8 Marla||PKR 6.8 Crores – 38 Crores|
Facilities in DHA Phase 6 Lahore
DHA Lahore is known for its well-planned infrastructure and world-class amenities like top-notch security, large commercial areas and an abundance of green spaces. Just like in other phases, Phase 6 has all the basic facilities and luxuries that you don’t typically find in other housing societies. To provide more insight regarding the amenities in this community, we have listed some of them below.
This phase has one of the top security services that ensures the safety of the residents in the community. It has a patrolling staff and a complete surveillance system that monitors any suspicious activity in the area.
Quality Education Institutes
One of the facilities that many people look for in a housing society are educational institutes where their kids can get a quality education. Some of the most notable educational institutes in the area are:
- The Millennium Universal College
- Lahore University of Management Sciences
- School of Sciences and Engineering
DHA Phase 6 features some world-class entertainment facilities for both adults and kids. For instance, residents have access to the Defense Raya Golf Resort, which is one of the best golf courses in any residential community. Not only this, but Phase 6 also has different commercial areas and landmarks that are located in the nearby DHA societies.
Top Healthcare Facilities
This phase of DHA has some of the best hospitals, clinics and laboratories that are equipped with well-trained staff and advanced medical equipment. Shaukat Khanum Laboratory is also available in close proximity to this society. These healthcare centers have some renowned doctors along with support staff.
Restaurants and Cafes
There are different restaurants and cafes in the area that are offering both fine and casual dining. Some of these include Gloria Jeans, Mocca, Kitchen Cuisine etc.
You can also find restaurants of different cuisines like Italian, continental, and pan Asian in this phase of DHA.
There are a variety of markets and shopping centers for the residents where they can find all the popular brands as well as grocery stores. You can easily buy everything you need under one roof.
There are many other facilities like an uninterrupted supply of electricity, transport, a grand mosque etc. in DHA Phase 6, which makes it one of the prime residential societies of Lahore.
If you want to get information about other DHA projects, visit our blog at Feeta.pk.
Top Phases to Invest in DHA Lahore
Are you thinking about investing in DHA Lahore but not sure in which phase to invest? If that’s the case, then Feeta.pk, Pakistan’s smartest property portal has come up with a list of areas in which you can get excellent returns on your investment.
The success of investing in real estate depends on the location – in which case, there is no better place than DHA Lahore. The Defense Housing Authority Lahore is a renowned name in the local real estate market that has developed various projects in all major areas of the city. Initially, they were launched for retired army personnel but, after the massive success of these projects, they allowed civilians to buy properties in DHA too.
With a total of 12 phases spread across the metropolis, DHA Lahore is one of the most expensive and poshest areas of the city. It is established in one of Lahore’s prime locations and offers a secure and luxurious lifestyle. This housing scheme features many famous food chains and has one of the best business schools in Pakistan (LUMS) in the vicinity.
Therefore, homebuyers looking to live in a community with all the major facilities at their disposal can find houses for sale in DHA Lahore in various sectors and blocks.
Houses for rent in DHA Lahore are also available, especially in phases 1, 2, 3 or 4.
Some phases, in particular, provide the best return on investment due to the luxury lifestyle and range of amenities. We have listed some of them below.
DHA Phase 8
Phase 8 is located between Ring Road and Barki Road, which makes access to other parts of Lahore quite easy. It offers all the high-end amenities which include wide carpeted roads, an advanced security system, underground electricity, famous restaurants, shopping malls, parks, schools, hospitals and much more.
Due to easy accessibility to highways and premium living, Phase 8 is considered one of the best places for investment. The plots for sale in DHA Phase 8 Lahore are available in the following price range.
Residential Plots Price Range
|Area||Price Range (PKR)|
|5 Marla||43 Lakh – 1.15 Crore|
|10 Marla||1.05 Crore – 3.4 Crore|
|1 Channel||1.55 Crore – 5.35 Crore|
|2 Channel||3.5 Crore – 13.2 Crore|
DHA Phase 7
Phase 7 of DHA ranks second on this list. This phase is relatively new and offers much better returns compared to phases like Phase 5 and 6. This newly developed phase is located alongside Barki Road and Defense Raya Golf Resort. DHA Phase 7 features well-carpeted roads, schools, hospitals, underground electricity wiring, uninterrupted electricity supply, restaurants and much more. All these amenities and the secure surroundings make it an ideal investment area.
The residential plots in this phase are available in different categories that include 7 marlas, 10 marlas and 1 Kanal. They are available in the price range of PKR 80 lacs and 3.5 crores. If you have a tight budget and are looking to build a house in this area, then this is the best area for you. The plots in phases 6 and 8 are more expensive in comparison.
DHA Phase 5
DHA Phase 5 Lahore is another phase that offers high-end amenities and premium living to the community. This phase is fully developed and quite populated, which means you can easily find a house for rent in DHA phase 5. The plots are available in various categories and price points. For your convenience, we have listed the price range of the available plots.
Residential Plot Price Range
|10 Marla||1.25 Crore – 4 Crore|
|1 Channel||2.1 Crore – 6.5 Crore|
|2 Channel||4.5 Crore – 16 Crore|
|4 Channel||14 Crore – 40 Crore|
DHA Phase 6
DHA Phase 6 is another suitable choice for people who are looking to buy or build a house in this community. Just like phase 5, it is well-developed and offers all the basic facilities and luxuries to the people living in the community. The plots’ prices haven’t appreciated much in this area in the last few years due to the increase in the price of plots in DHA Phase 8 Lahore. For example, the price of a 1 channel plot in this phase is 2.3 crore, which is low compared to DHA Phases 7 and 8. However, if you’re looking for a property for rental purposes, then this is the ideal place for you.
DHA Phase 10
DHA Phase 10 Lahore is in the development stage, and the Defense Housing Authority Lahore hasn’t allotted the plots to the owners yet. However, plot files of various categories are available in this phase. These are a great way of getting the best returns on investment because their prices appreciate when all are cleared. So, if you’re looking to buy a piece of land for investment purposes, then you should go for Phase 10. The location of this phase is ideal and, in the future, the society will offer similar amenities and modern luxuries.
For more real estate investment guides, follow Feeta.pk.
Most Expensive Sectors in Islamabad
But what exactly makes these sectors so expensive? The answer lies in its commercial and residential values, as well as its location close to the hills and the main markets of the city.
Feeta.pk, Pakistan’s smartest property portal brings a detailed overview of the most expensive sectors in Islamabad. Let’s take a look.
Who Is Living in the Expensive Sectors of Islamabad?
It is an understood fact that these highly expensive sectors in Islamabad are preferred for living and investment by millionaires, given that they can easily afford to live there.
Most of the population living here consists of government officials, businessmen, politicians, and even foreigners. Since the sectors are posh and close to the best commercial areas, these sectors are a popular choice for foreigners.
The 9 Most Expensive Sectors in Islamabad
The property value of houses and plots located in expensive sectors is based on how safe they are, and what areas are in their proximity ie parks, restaurants, markets, etc.
Most houses for sale are valued as per how close they are to the main areas, and how the trend increases over time proportional to their demand. All of these sectors fall under the list of CDA approved housing societies, making them ideal for investment and for living.
These expensive residential sectors of Islamabad are mentioned as follows. The capital city, besides being famous for its beauty, is also famous for the posh living standards that it offers. Because of its planned sectors, cleanliness, and serene atmosphere, most people do not mind spending beyond their budget limit to buy a property in the most expensive sectors of Islamabad.
|Sectors||Expensive Sub-Sector / Road||Size of Houses||Estimated House Prices Upto (Rs.)|
|E-7||Gomal Road||5 Marla – 4 Kanal||50 – 90 Crore|
|F-7||Parveen Shakir Rd, Parbat Rd, Nazim-ud-din Rd, Bhittai Rd||5 Marla – 4 Kanal||42 – 80 Crore|
|F-6||Khayaban-e-Iqbal, Hill Rd, School Rd||5 Marla – 4 Kanal||27 – 35 Crore|
|F-8||Kohistan Rd, Kaghan Road, Park Rd||5 Marla – 4 Kanal||20 – 30 Crore|
|F-10||F-10/2, Sumbal Road||5 Marla – 2 Channels||10 – 25 Crore|
|G-6||Ataturk Avenue||5 Marla – 2 Channels||15 – 38 Crore|
|F-11||F-11/2, Hilal Road, Hamza Road||5 Marla- 2 Channel||10 – 25 Crore|
|I-8||Sector I-8/2, Type Sultan Road||5 Marla- 2 Channel||7- 15 Crore|
|D-12||D-12/1, D-12/4||5 Marla – 2 Channels||5 -18 Crore|
Source: PinterestE-7 is not just an expensive sector in Islamabad but also ranks as one of the most expensive areas in Pakistan. This area is home to many diplomats, foreigners and embassy officials, given it is right at the base of the Margalla hills.
The sector has a range of luxury houses that go up to 4 canals and also encloses a commercial market area that has renowned restaurants and salons.
F-7 is one of the most sought after sectors in Islamabad that connects to Faisal Avenue and Margalla Road, as well as a linking road, Nazim-Ud-Din Rd, which leads to Blue Area.
Because of its prime location and easy access to the main sectors close by, F-7 leads as one of the most expensive sectors in the city. With lush green land around and carpeted roads, the sector encloses the top commercial areas with modern amenities and facilities for its residents.
Currently emerging as the second most expensive sector in Islamabad, F-6 is the home of posh cafes, homes, and brands that make up the vibe of the city. Kohsar Market F-6 and Beverly Center are two famous commercial areas in F-6 that are frequently visited by the elite class.
Because the sector comprises multiple embassies, the security of the area is always up to the mark. The close commercial space paved with designer brands and restaurants is a great option for foreign consulates.
Due to its high commercial value, it also ranks high as a residential area, which is why it falls in the expensive range of real estate properties in the capital.
With a high geographical advantage, Sector F-8 is considered one of the most valued sectors as it is surrounded by major landmarks and well-settled neighborhoods.
The property value in this sector is very expensive on account of the infrastructure and the facilities available.
The roads of this sector are well connected with other sectors, joining the rest of the areas inside and outside the city. Sector F-8 comprises many head offices of big companies as well as buildings.
Besides this, the main Islamabad Kechehri is also located in this sector, which is why the real estate value of this sector is very high.
F-10 shares a border with Fatima Jinnah Park (F-9) and lies adjacent to Margalla Road. The sector has a big commercial area that caters to top brands from across the country, as well as multiple restaurants.
It is surrounded by an organized road network that keeps it connected with the surrounding areas and sectors. Because of its border with an active commercial area, F-10 is one of the most expensive areas of Islamabad with all luxury amenities and facilities nearby.
G-6 is one of Islamabad’s most prominent and expensive sectors. Its high value is relative to its location situated across Jinnah Avenue and Kashmir Highway, making it almost central to the commercial areas and other main sectors of the city.
Sector G-6 links to Blue Area and is a lush green area with clean carpeted roads. The area has famous markets and landmarks nearby such as Aabpaara and Shakarparian National Park.
Because of its easy accessibility for the residents in G-6, the price trends have gone very high, especially in the areas that are close to Blue Area.
F-11 is one of the most expensive areas in Islamabad. It caters to the posh living standards of bureaucrats and businessmen. F-11 is a developed sector with elite commercial markets and facilities that add to the ease of people living in the area.
F-11 shares a link road with F-10 and E-11, and also lies adjacent to Margalla Road. Besides expensive houses in the sector, there are also many apartments and housing schemes, such as the Naval Housing Scheme, which are located on Hilal Rd and contribute to the value of this sector.
The I-8 sector has gradually developed into a highly expensive sector in Islamabad, just after the F sector range. The sector has gained the massive interest of investors who are looking for commercial and real estate properties.
This sector is one of the most sought after locations in the capital because of its fast development and convenient access to twin cities.
Besides the commercial market and top restaurants in the sector, I-8 also has several schools, colleges and hospitals nearby.
D-12 is a scenic sector that is located right next to Margalla Hills, beside E-11. It is a developing sector and has already attracted the interest of real estate investors, because of which the property value of the sector has increased at a drastic rate.
The layout is similar to other sectors in the city, with developing commercial spaces and necessities available in the area.
Keeping the above pointers in mind, it can be concluded that Islamabad’s sectors have always been subject to high property values due to the planned infrastructure of the city as well as the beauty of nature around them.
With time, these top sectors gained value based on the commercial value, location and security of the area.
If you’re looking for more information regarding real estate investment opportunities, follow our blog at Feeta.pk.
Buying or Building a House: Pros and Cons of a Corner Plot
Are you confused about a suitable location for investing in a plot? Are you unsure about where to start?
Investing in a real estate property can be a tough decision to make when you are new to the market and are not up to date with its real estate trends.
Finding the right location can especially be challenging as you have to weigh the risk factor and potential worth of a wide range of options available to you. It’s not just about which area makes your work commute shorter or brings you more entertainment facilities – a prime location can define the actual value of a plot or a house in the long run. For instance, corner plots are usually high in demand and relatively more expensive because of their high net value.
Feeta.pk discusses all the pros and cons of investing in a corner plot to provide clarity and help you make a decision.
Pros of Buying or Building a Corner Plot
These are some of the perks that you can enjoy with a corner plot or house:
Clear View of the Street
First and foremost, corner plots can provide you with a clear and unobstructed street view. In the case of other types of plots, residents usually only get to look at the front lawn of their next door neighbor from their balconies or windows. This, hence, increases the value of a corner house.
After all, what would you prefer: the view of your own yard or a beautiful park in your vicinity?
More Parking Space
One of the most popular reasons for investing in a corner plot is to enjoy the perks of more parking space. Due to the increased population in big cities, parking has become a difficult and cumbersome issue. Corner plots provide the benefit of ample parking space next to the property as well.
A hack for creating more indoor parking space is turning your lawn into a garage (after getting approval from the relevant authorities) and then securing it with a gate.
Natural Light and Better Ventilation
Corner plots are not surrounded by other properties, which results in better ventilation and more sunlight filtering through the house. Both are essential for maintaining a healthy lifestyle. Additionally, the constant airflow can help prevent bad odors, moisture and pollutants. The natural sunlight can also make your room look brighter.
Good Design Options
If you are someone who would prefer to design your house yourself, corner plots would give you more freedom to do so.
Since corner plots are not surrounded by other plots and are also usually bigger in size, it makes it easy for you to get creative with the additional space.
For example, if you wanted to build a bigger balcony on the second floor of your house, it may become an inconvenience for other residents on the same street because it will overlook the front of the house. However, if it is built on a corner plot, you wouldn’t have to face such issues.
It is important to keep in mind that, if you are planning to buy a property in any housing society, you would have to ensure that you abide by the construction laws of that specific area before planning any such projects.
Extra Yard Space
Another reason why corner plots are higher in price than any other property is that they provide the benefit of more yard space.
Usually, corner plots have two lawns. You can grow one into a garden with outdoor furniture set up, and use the other as a space for your kids to play around.
These ideas will aesthetically add to your house, which will eventually result in increased resale value.
Cons of Buying or Building a Corner Plot
Now that you are aware of the benefits of investing in corner plots, let’s find out some of the drawbacks of investing in such properties.
Dealing with Pedestrian Traffic
If you are planning to buy a corner plot or house, you should keep in mind that there will be a lot of foot traffic that you would have to deal with.
For example, if your house is close to a market or school, a lot of people will walk past your house to get their errands done, pick up their kids, etc, which can eventually cause privacy issues for you.
In comparison to other properties, people living in corner plots have to face a lot of disturbance resulting from car horns, traffic jams, etc. This gets worse if your house is near the main road or a busy intersection.
Other houses in the neighborhood have to deal with noise pollution only to a limited extent, whereas you would be exposed to noise pollution from both sides of the property in a corner house.
More Maintenance Required
Extra space requires thorough and regular maintenance, so a lot of your effort and time would be consumed in landscaping.
Corner plots and houses have more exposure and higher visibility, thus, you would have to take extra care of the exterior as well. It would also be more costly as you would be responsible for the upkeep of a larger property.
Vulnerable to Robberies
Corner houses are more susceptible to break-ins, depending on their visibility and location.
If your house is visible from the adjacent street, or if it is constructed in a way that anyone walking outside your house can see or hear you, this can result in more risk.
There are also increased chances of light pollution – the outdoor artificial lights can be intrusive at night-time. For instance, people who live in corner houses would have to bear the headlights of every passing car. Usually, street lights are installed at the corner of the street or at the intersection next to the house. Their bright and harsh light can prove to be disturbing for your sleep, and also contribute to the increase of carbon dioxide in the air.
Just like every other property, corner plots have their own set of advantages and disadvantages. Every plot has its own perks, but its value largely depends on the location.
If you want to know more details before making an investment, you can visit Feeta.pk and have a look at different guidelines.
How to Choose a Real Estate Agent
Buying or selling a house is one of the biggest financial decisions you will ever make in your life – which is why hiring a real estate agent would be the most appropriate approach to handle the stress. While it may be tempting to avoid hiring one and sell/buy a home yourself, the costs still outweigh the benefits. For instance, you may not be able to devote as much time to potential buyers; you wouldn’t know how to market your property effectively, or you may not be aware of the nuances of the local market.
This is why you need someone who knows the ins and outs of the market. The right agent can ensure that your property is sold at the best price or that you get the best value in the market for a new place. However, with so many options available now, it can be difficult to decide which one to choose from. It can especially be tricky to filter out people who are looking out for your best interests from those who are just looking for ways to make a quick money at your expense. Graana has compiled a few factors that you should consider during the decision-making process.
It takes time and effort to build a track record with quality inventory, so hiring someone who has handled several housing transactions would be your safest bet. A real estate agent should be able to make competitive offers or negotiate with sellers on your behalf – and that can only come from relevant experience. Skilled agents would also be up to date on the latest trends and patterns in the industry.
Internet sources now have a lot of information at our disposal to make informed decisions and avoid costly mistakes. Conduct thorough research on your prospect agent’s digital presence, for example, their listing materials website etc.
However, a long work history doesn’t necessarily mean that all the information provided would be authentic. To counter that risk, do a preliminary interview with them to get an idea about their strategy. For instance, ask them what they have sold in the last month; how much time they take to finalize a deal; what type of properties do they have the most experience dealing with, etc. You can interview multiple prospects before hiring the best prospect. The one who is most prepared for their presentation would be more likely to put in more effort in working for you.
Also research according to your individual needs. Just because one seems good at their job, it doesn’t mean they would be the right fit for you. For example, the priorities of first-time homebuyers may be different from those of repeat buyers, and they would want a real estate agent who has worked with similar clients.
According to Corey from Buy Yo Dirt, real estate is not an easy business, and the land is loaded with land mines that can wipe out your profits. That’s why it’s crucial to perform extensive research before diving in, so you’re aware of all the benefits and drawbacks of real estate investing. When looking for a property that is profitable, there are some crucial factors to consider.
References and Referrals
There is a no bigger credible factor than a referral from a previous, satisfied client. You can also ask your friends, family or other people in your network for an unbiased opinion. If you don’t have direct contact with any, ask the real agent to provide you with references before signing a contract with them.
You can contact other agents as well to see what rapport they have in the market. Online reviews are helpful too – they also give you a chance to check how the agent responds to negative feedback.
Usually, real estate agents are handling multiple clients at a time. Look for someone who has the ability to cater to you regardless of how many people they are dealing with. Also, ask upfront at the beginning about the availability of support staff so there is someone always at hand to answer all your queries.
The Right Fit
Decide which qualities are most important to you and look for that in your real estate agent. For example, do you want someone who is available to talk on the weekends?
Be straightforward and clear about your requirements from the start. Technically, they should be asking you questions and taking your opinion every step of the way. Most real estate agencies already own the technology to filter and find suitable living options for you. However, if you are still not coming across a property that you want to explore or is within your price range, it means they are just looking to benefit themselves.
If you feel like you both are different pages, you always have the option to find someone else; don’t feel obligated to compromise, especially if the agent is exerting any pressure on you.
Local Area Expert
If you are concerned about only a specific area (either for selling or buying), you can narrow your search to find an expert of that neighborhood. If you have friends or family in the mentioned area, you can ask them to recommend an agent too.
This would give you the advantage of being able to rely on someone who has a stronger understanding of property rates. According to Ryan from Sound home Buyer a local area expert is crucial in the overall real estate process.
Buying or selling real estate is a long, complicated process with multiple factors involved, and you need someone who is honest with you about that rather than paint an optimistic picture. The associated risks of your decision should be openly communicated to you, backed with facts and figures in terms of investment analysis, long-term impact etc.
The Fine Print
Take a closer look at the proposed contract before signing on the dotted line. It should state the terms you both have verbally agreed upon, including the commission the real estate agent would receive. Also, pay attention to the length of the contract – the real estate is a seller’s market today so selling a property, for example, should only take 6 months or less. If the contract exceeds this time period, it would be best to hire another agent.
According to Bret Arrington From AIP House Buyersif you want to sell your property fast, you should hire highly professional real estate agents.
In the hyper-competitive real estate market, it is best advised to hire a real estate agent to help you navigate through the long process of paperwork, negotiations and large sums of transactions.
All About Property Mutation in Pakistan
Once you have completed all the formalities of a real estate transaction, the next and final step is to register the said property under your name to make it official in government records. This is known as the mutation of a property. It refers to the entire process in which the title of ownership of a property is transferred to another person. Simply put, it is the title deed (also called a conveyance deed) needed to have the property under your name.
Graana has compiled all the basic details that you need to know regarding the property mutation process.
When do you need a mutation certificate?
- When you buy a property
- When you inherit a property
- When you receive a property as a gift
- When you purchase a property through a power of attorney
How do you apply for a mutation certificate?
Since obtaining the mutation certificate is not a legal obligation, many new property owners postpone the process. However, the mutation process should ideally be started as soon as possible once the property has changed hands – at least within 3-6 months of the land purchase. Without it, the buyer may risk facing issues in obtaining complete legal ownership of the property in question.
The process just comprises of a few, simple steps:
- Visit the land administrator’s office in the concerned area (where the property is located) and submit the required documents. These may also vary according to circumstances. For example, if this is a mutation of the property after the owner’s death, applicants would have to submit a death certificate, succession certificate etc. You can cross-check on the government website or call on the helpline for further information, but you would still have to visit the municipal body to hand in the papers.
- Both the seller and buyer have to appear with two witnesses and the sub-registrar will hear their verbal agreement for trading the property.
- This will be recorded in the Inteqal (Mutation) Register, and you will be handed a receipt.
- Afterward, you would have to submit a nominal process fee in the National Bank of Pakistan (this will be just a one-time charge).
- There will be a physical verification of the site by the relevant authorities.
- The municipal body may take up to a month to update the record, after which they would issue the mutation certificate.
Why is it important to get a mutation certificate?
Even though it is not a legally binding document, the mutation certificate is still necessary for several reasons:
- It serves as additional proof of ownership.
- You will be able to record the property under your name in the municipal local body.
- It can also be required when applying for utilities, such as electricity and water services.
- It may also serve as a tax record.
- You would need it if you want to sell or transfer your property to someone else in the future. If you are unable to produce a mutation certificate before potential buyers for verifying the chain of ownership, you may risk the sale of your asset.
- In case of land dispute, corruption or hostile takeovers, the mutation certificate can help challenge false claims in court.
- All immovable assets (individual homes, apartments, land, etc.) are subject to property tax payment, and mutation is just a way to ensure that. The certificate is required by the government to fix the property tax liability and other levies on the rightful owner.
- It can also help you correct any errors in the records in case there is an unauthorized transaction.
What is the difference between registration and mutation?
There is some ambiguity over the difference between property registration and mutation since the purpose of both seems similar. Property registration refers to the process in which you claim legal rights on a property by registering the sale under your name. The process of mutation, on the other hand, is the buyer’s responsibility and can only be initiated once the property registration has been executed.
|Property Registration||Property Mutation|
|Also called a baye-nama||Also called inteqal|
|Mandatory process after transfer of property||Not a legally required process after transfer of property|
|Legalizes the actual sale of a property||Transfers ownership of the property|
|A sale deed||Does not require a sale to take place; it applies to inherited and gifted properties too|
While the key differences between the two are just a few, it is still important to know the significance of each to avoid any potential problems or confusion in the future if you choose to resell the property. This is why it is advised to acquire both in the beginning.
If you are looking for more information on the real estate processes in Pakistan, you can visit this link.
The Only Guide You’ll Ever Need for Selling and Transferring Property in Pakistan
Selling and buying property in Pakistan is a regular occurrence in the country, where hundreds and thousands of people sell and transfer property. For those familiar with the process, the transferring procedure might just be a piece of cake. But for people who are new and confused about where to start, you’ve come to the right place.
Before we jump into the tricky aspect of this process, let’s clear the air about what exactly transferring property means and why it is an essential aspect of buying and selling property in Pakistan.
What do we mean by transferring property?
As per the law, any individual who owns a property should have the land or property verified under their name. The land should be under the designated ownership; only then can they sell the property to themselves. This is the basic requirement of selling a property.
In Pakistan, the transfer of any property generally consists of the owner transferring the title of the land from one person to the other. Transferring property can occur in multiple ways for various reasons, such as a mortgage, gift deed, inheritance, lease, exchange, etc. All such explanations are why transferring is an essential legal procedure.
Who is eligible to transfer property?
All individuals who can sign a contract are authorized to transfer property ownership in Pakistan. According to the Contract Act 1872, a contract is claimed as a binding agreement between two parties, meaning that it is a legally binding document for any sale and purchase of land in the country.
There are a few exceptions for people who are not eligible to transfer a property:
- Minor: Anyone under the age of 18 is a minor and therefore cannot carry out the process.
- Unstable Individuals: Someone who cannot understand the consequences of their actions, for instance, that of a mentally ill person. Other reasons can be a permanent or temporary physical disability such as in a Coma etc.
- Legally Barred Individuals: Someone barred from signing contracts cannot transfer property in Pakistan.
What are the steps involved in transferring and Selling a property in Pakistan?
The transferring process, although time-taking, is a simple and easy process with not many legal proceedings. We’ll break down the process into different steps to help you better understand.
This is the very first step of selling after you’ve successfully secured a client. This involves the buyer giving approximately 1 / 4th of the total price. If not the exact percentage, there is an agreed amount between the buyer and the seller to indicate an agreement from both sides of the party.
The Token (Bayaana) is given by the buyer with a series of negotiations and based on a contract, in which all details are specified. After this, the seller holds negotiations with any other potential buyers.
Usually, a specified period is set and written in the contract for the full amount to be paid. If the sale falls through, the token is returned. But if the full amount is not paid in the specified time, the seller has no obligation to return the token, even if the sale doesn’t go through.
What is a Property Sale Agreement and how can we get it?
A sale agreement contract is a set of required documents that include all information related to the seller and buyer involved in the transfer process. In Pakistan, these are the required documents that are attached with the Bayaana form:
- Complete details of the property with the property owner’s verified name
- Terms of sale for the property
- The total amount of money which the property is being sold for
- Final date for the buyer to pay the remaining sum of money
What is the complete list of documents required?
To carry out the transfer process smoothly, you need to collect the following documents organized. You’ll need:
- Recent Passport Photos of both parties involved (Buyer and Seller)
- Photocopies of National Identity Cards of both parties
- Original Purchase Deed of the Seller (From the time they purchased the property)
- The original ‘Sale deed’ which is the agreement contract between both parties
This list of documents can also include some more documents depending on the province, region, area, etc. (A lot of documents, we know, but verified property takes tough measures!)
- A ‘Record of Rights’ also known as Fard-e-Malkiat, is a form that can be obtained by the seller from the property registration office. This guarantees that the property is under the name of the seller.
- You’ll need a Non-Demand Certificate (NDC), a document that shows you don’t have any fine due on the property. Depending on the location, you can get this from the local development authority’s office.
- For properties in private housing schemes, there is the need to request a letter from the particular society to carry out the property transfer. This can be used in place of the Fard-e-Malkiat document.
Possession of Stamp Paper and Tax Payment
This is one of the essential and final steps of the transfer process. You’ll need a stamp paper to draft the deed for the sales; that will be the contract for the sale. You can choose. Buyers; will be required to pay stamp duty and taxes during this step.
Let’s take a look at this easy breakdown of the tax duty involved:
- Stamp Duty 3%
- Capital Value Tax 2%
- District Council Fee 1%
- Fixed Registration Fee PKR500 (Can differ as per govt. Order)
Drafting the Sales Deed
In Pakistan, the sales deed is usually recommended to be drafted by a property lawyer or a property agent aware of the bylaws and the rules involved in the process. This is a particularly safe option to avoid any complications that might arise in case you are doing it yourself.
Although, people who are selling and buying property as a business have become familiar with constructing the ideal draft for this deed, which can be done easily with the help of the internet. However, the common practice and recommendation are to take the help of a lawyer to avoid any future complications that may occur.
What do we do after drafting the Sale Deed?
Finally, after a long process, you’ve reached the last step. You can take the sales deed (inscribed stamp paper) along with the required documents to the registrar’s office. From here, the sub-registrar will call both parties simultaneously and hear their verbal agreement for the trading of property.
You’ll need to sign the documents and put your fingerprint to verify the final sale and complete the transfer process. Once this is done, the official will register the sale deed successfully, then the transfer process is complete, the property is now successfully transferred to the buyer.
How much is the Commission for the Property Dealer Involved?
If you’re wondering what the person who helped you secure a client and help you proceed with the sale and transfer of the property is, there is a commission that the dealer/agent gets from the client. Although there are no specific laws to govern and record the work of real estate agents and dealers in Pakistan, the general practice remains a constantly changing variable and experiences changes from time to time.
Usually, the commission of property agents comes around 1% of the total value of a property. This 1% of the value is each from the buyer and seller as the commission to the dealer. If the buyer and seller both have different agents, then both agents get to keep a 1% commission each from their own client. Sometimes, property agents will ask for as high as 2% of the property value, or even lower than 1%. The amount varied according to the success, reputation of a property dealer, or property value.
Suppose you’re looking to learn more about the legal aspects and procedures involved in property buying and selling. In that case, you can stay connected with our blogs at Feeta.pk, where you can easily find comprehensive information to guide you through the real estate market.
Things you need to know about House Flipping
House flipping is one of the most common ways to earn money through real estate in Pakistan. If you have ever seen people who buy properties that are almost in ruins and, after a series of renovations, turn them into spectacular homes that later make good profits when they sell them, and you wonder how they do it, you are at the right place.
This blog brings you things you need to know about house flipping. To learn more about house flipping in Pakistan, keep on reading.
What is house flipping?
Flipping is a quick profit strategy in which an investor purchases real estate at a discounted price and then improves the property to unload it at a better price. Instead of buying a property to live in, the person buys a house as a real estate investment.
It is worth mentioning that the primary purpose of flipping is to buy low and sell high. In short, flipping, also known as grand real estate investing is a type of real estate investment strategy in which an investor buys a property not to use it but to sell it for profit.
How do investors make money through property flipping?
This gain generally stems from a price appreciation arising from a hot real estate market in which prices are rising rapidly or from capital improvements made to the property, or both. For example, an investor could purchase a property in a “warm” neighborhood, do significant renovations, and then offer it a price that reflects its new look and amenities.
Currently, in the absence of inventory, tearing down and rebuilding houses can be extremely lucrative strategic investment form in the face of a poor housing market. Older homes are usually at low prices and favorable mortgage rates allow borrowers to purchase the property with ease.
Things you need to know about house flipping:
Following are some of the things that you need to consider before flipping property in Pakistan.
Consider your finances and associated costs:
Real estate requires capital. The first cost is the cost of acquiring a property. While interest on borrowed money is tax-deductible even after the Tax, it is not a 100% deduction. Every rupee spent on welfare is added to what you have to earn from the sale to cover costs.
Do extensive research on your financing options to find out which type of mortgage is best for you, and find a lender that offers low-interest rates. An easy way to research financing costs is to use a mortgage calculator, which allows you to compare the interest rates offered by different lenders.
Of course, paying cash for the property eliminates the interest cost, but even then, there are property holding costs and opportunity costs to immobilize your money. Renewal costs must also be taken into account. If you intend to repair the home and sell it for a profit, the sale price must exceed the combined cost of the acquisition, the cost of maintaining the property, and the cost of the renovations.
Even if you manage to overcome the financial hurdles of scaling a home don’t forget about capital gains taxes, which will reduce your earnings.
It is time-consuming to renovate houses. It will take months to find and buy the right property. Once you own your home, you will need to spend time getting it fixed. If you have a day job, the time spent on demolition and construction can be a wasted afternoon and weekend. If you pay someone else to do the work, you will spend even more time than you would expect to monitor the activity, and the costs of paying others for profit will decrease.
Once the work is complete, you will need to schedule inspections to ensure the property meets applicable building codes before you can sell it. Otherwise, you will have to spend more time and money to give it up somewhat.
By showing it yourself to potential buyers, you can spend a lot of time traveling to and from the property and in meetings. If you use a real estate agent you will be owed a commission.
It may make more sense for many people to stick to a day job, where they can earn the same kind of money in a few weeks or months regularly, easily roll without risk, and with a consistent time commitment.
Professional builders and skilled professionals, such as carpenters and plumbers, often trade houses for income alongside their regular jobs. They have the knowledge, skills, and experience to find and organize a home. Some also have union jobs that provide unemployment checks throughout the winter while working on their side projects.
The real money in a house exchange comes from equity. If you’re handy with a hammer, enjoy laying rugs, and can hang drywall, roof a house, and install a kitchen sink, you have the skills to flip a house.
On the other hand, if you are unfamiliar with the instruments, you will have to pay a professional for restorations and repairs. And that will reduce the chances of you getting a substantial return on your investment.
Lack of information:
To be successful, you know how to choose the right property, in the right location, and at the right price. Even if you have a lifelong argument (putting a house together at, say, the closing of a song), it’s crucial to know which restaurants need to be done and which ones to skip.
You also need to understand the applicable tax and zoning laws and know when to cut your losses becomes, learn to find out before your project turns into a cash hole.
Not patient enough
Professionals take their time and stay on the right property. Newbies rush to buy the first house they see. They then hire the first contractor to make an offer to tackle the work they cannot do themselves. Professionals do the work themselves or rely on a network of predefined, trusted contractors.
Newcomers hire a real estate agent to help them sell the house. Professionals rely on the efforts of the “owner for sale” to minimize costs and maximize profits. Newcomers hope to go through the process, put on a coat of paint, and earn a fortune. Professionals understand that it takes some time to buy and sell homes and that profit margins are sometimes tight.
Inspect your new home:
Check the box or electrical circuit board, making sure that the labels next to each switch, such as kitchen, bathroom, living room, etc., are located correctly. Do this by removing or unplugging each switch (one by one) to find out which room in the house they belong to. You can also hire an electrician to check the state of the electrical box (panel or panel) and if it needs to be repaired or replaced with a new one.
Check your fire alarms and carbon monoxide detectors to see if they are working well, need batteries, or be replaced.
Contact utility companies:
When you get to your new home, you will want essential services, such as electricity, gas, water and sewerage, cable, Internet, telephone. So contact those companies in advance to set the date of transfer of those services to your new address.
Update essential documents:
One month before moving in, update your driver’s license, vehicle registration, and voter registration card.
These are some of the things you know about house flipping. Flipping houses for a living is getting popular by leaps and bounds because house flipping profit is excellent.
Give these pointers a read and incorporate them into your next purchase. This blog is especially beneficial for people who want to know about property flipping and flip houses for beginners.
To know more about real estate trends, visit the Feeta blog.
Real Estate Strategies for beginners
Suppose you want to join the real estate investment community to grow your assets and plan your future to live on the income. In that case, you must first evaluate the different alternatives to participate in the sector. Some require a more significant investment of time or money than others and experience or knowledge about the industry. In this blog, we bring you a list of real estate strategies for beginners that they can use to excel in the real estate industry of Pakistan.
To know more about these strategies, keep reading.
Vacant spaces, including land, are among the few assets in the world whose price appreciates over time. This type of investment gives value to areas of your property that are not occupied or of little use, such as guest rooms, parking lots, basements and ceilings. It works for both seasonal and long-term leases. It is ideal for beginning investors unfamiliar with market values or the practice of leasing entire properties.
In short, one of the best strategies to increase your real estate portfolio is by investing in vacant land.
It is the most common earning mode. In this case, you buy a property to lease it, either in the short term (temporary or vacation) or long term (more than six months). You can focus on having multiple tenants for a property in different periods (winter or summer, vacations, holidays, AirBnB style) or opt for the traditional lease to a single person for a specified time.
Buying and selling:
In this strategy, your focus is on acquiring and reselling residential properties in areas of most significant demand, close to high-traffic public spaces (supermarkets, metro stations, bus stops). It requires you to study well the prospects before investing and the regulatory plans of the target zones.
Under this strategy, you buy and lease properties and offer administration services, from paying everyday expenses to technical maintenance checks, such as plumbing and electricity.
In this strategy, you buy houses at a low price and need repairs; you completely renovate them and then sell them at a higher price. The challenge here is to manage knowledge and values of masonry, design and architecture work.
Real estate funds:
The investor invests in real estate indirectly through a private fund dedicated to buying or developing properties for sale or rent. The profits of the projects are distributed among the contributors of the fund as dividends. The industry initially began focusing on corporate buildings and offices, but later expanded into the housing sector.
Invest in auctions:
In this case, the investor acquires the real estate in an auction process with the sole purpose of reselling it later at a higher price. This type of investment is attractive because the property went through the bank first. Therefore the property’s papers and debts are up to date.
Keep in mind that all these investment alternatives have natural limitations, such as the location of the property, its accessibility, and current demand, as well as artificial ones, such as co-ownership agreements for office buildings and apartments and condominiums debts associated with real estate.
Although it is not necessary to have studies or a degree to dedicate yourself to investing in the real estate sector, it is essential that, when you are in the business, you know basic concepts of the industry, such as the price/cost differential, capital gains, generation value, the profile of the investor and the type of property. The fact that you do not master the vocabulary of the world in which your company operates can lead, at least, that people distrust you.
In this sense, a fundamental behavior to be more and more informed about the business is to listen carefully to people associated with the company. In this way, you will not only be able to access privileged information about your clients, but you will also gain more and more confidence in your expertise.
This same practice will affect your pricing method. Whether you are based on margins, target prices, demand, competition or the highest possible value, it will always be essential to be informed to define the amounts of your business most appropriately.
Have a plan:
Discipline always translates into success, and this habit has much more to do with being active and constant at work than being rigid and unable to react to changes. This is why, when we talk about having a plan and abiding by it, what you must understand is that before entering the real estate market you should take some time to design your business plan.
This plan will help you establish critical aspects, such as the vision and goals of your company. Still, it will also encourage you to project your business with a series of rules that ensure the decisions you will make throughout your career as an entrepreneur in the field.
You will be able to establish specific things such as your target market, selection criteria and even the selection criteria of your properties. Put yourself before problems through a contingency plan that you consider your investment’s risk analysis and the financial viability of a purchase or a sale.
The real estate business tends to be independent and lonely because it allows practitioners individual freedom and flexibility compared to other jobs. For the same reason, it is advisable to go to good allies to maintain a good network of contacts and grow in a highly competitive and agile market.
With allies, we mean reading books that teach methods to achieve financial “good health” or encourage the practice of habits to be effective in business, even attending courses and seminars designed especially for people who want to learn everything necessary to function. Successful in the world of real estate investment.
It is also advisable to interact with real estate agents and financial advisers to listen to their experiences and opinions, but above all to finish inserting themselves more and more into the beautiful and complex world of real estate.
Finally, a good idea to become a great real estate investor is to interact with ordinary people who are examples of success, either due to their personal experiences or economic fluctuations in business in general and within the field.
It is a type of inspiration that you can also find in opinion leaders with a good presence in social networks and participation in books, courses and seminars in the field.
So, these are some of the strategies that beginners should keep in mind while entering the real estate market. Make use of these strategies and excel in the real estate market of Pakistan.
Know the Difference between Buyer’s Market and Seller’s Market
Would you like to sell or buy a home at the best time of year? Despite the fact that certain seasons may be busier than others, the fluctuations in the real estate market are much more influenced by supply and demand than by the time of year. Keeping an eye on the housing market is one of the most important things to watch and watch out for whether you’re in a buyer’s or seller’s market in your local area.
Everybody wants the best deal on a new home, but it’s not always easy. In the wake of the COVID-19 pandemic prospective homebuyers have had a difficult time answering the question, “Why are houses so expensive at the moment?”.
In order to save on a new home and avoid overspending on the mortgage, savvy homebuyers try to time their purchases around buyer’s markets.
When purchasing a house, it is important to know the difference between buyer’s markets and seller’s markets. Let’s find out more with this blog.
What Is a Buyer’s Market?
Buyer’s markets occur when more homes are for sale than buyers are available. It means that more homes are listed for sale than there are buyers. Buyer’s market often refers to the state of a market where there is relatively more inventory than demand.
Lower home prices are an indicator of a buyer’s market. A seller’s home will often sell for around the listing price or even less in a buyer’s market. You cannot raise your asking price much without causing buyers to look at comparable homes offered by other sellers in your neighborhood.
Due to the volume of competition, sellers are at a disadvantage. Many sellers decide to accept a lower sale price instead of waiting for the right buyer to come along.
Seemingly longer than average time on the market is another sign of a buyer’s market. There’s likely a buyer’s market if the for-sale signs aren’t replaced with sold signs as you drive through your neighborhood. There is little chance of seeing a bidding war over a house on the market. With so many homes available, buyers are unlikely to spend more than the asking price.
What is a Seller’s Market?
During a seller’s market, the number of buyers overrules the number of available homes on the market or when there are more buyers than available homes. A single property often attracts multiple buyers, resulting in a bidding war. Selling your home in a seller’s market can be a great option because you can get a higher sales price than your listing price, or at least more than your bottom-line price (the lowest price you’re willing to accept for your house).
Be aware of the seller’s advantage when buying a home in a seller’s market. The advantage of getting a lower sale price on a property that other buyers are interested in is unlikely if other buyers are also interested.
An offer made by a competing buyer could cost you the opportunity to buy the property. The seller’s market is sometimes referred to as a renter’s market because sometimes prospective buyers must continue renting until they can raise their down payment and compete with other buyers.
According to a licensed realtor from FL Cash Home Buyers – the key to selling a property fast is to utilize as broad of a net as possible for buyers. The key to this is to find the right realtor. Realtors can help sell a house not only quicker but usually more profitably and as legally correct as possible.
The market for Buyers or Sellers? Find Out with These 4 Tips
A buyer’s or seller’s market can be determined without being an expert in it real estate. The easiest way to tell can usually be found by looking at current and recently sold listings.
A buyer’s market has the following characteristics
- Sales of homes are slow
- The homes sell for less than the list price
- The home price index is declining
- There are many homes available for sale
A seller’s market has the following characteristics
- Houses sell quickly
- The home sells at or above the listing price
- The price of homes is rising
- There aren’t many homes for sale
A Few Tips for Buyers
When there are limited housing options and a lot of buyers are interested, time is of the essence.
- A seller’s market is an excellent time to act fast if you find your dream home. Those who hesitate over a house they want to buy may find it is no longer available by the time they are ready to negotiate. Getting pre-approval for a loan before you need it will ensure financing.
- Make sure you know you’re at a disadvantage before you make an offer. There is no need to push for specific closing dates, concessions, or contingencies in a seller’s market. Make sure you focus on what’s important to you. Make sure you think twice about stipulations you want to be written into the contract. Make an all-cash offer if possible. Since cash buyers don’t have to deal with financing issues, sellers prefer them.
- Having patience is crucial when you keep losing out on the homes you are interested in. Don’t get discouraged if you keep losing out on homes you are interested in. Frustrated buyers end up suffering in a seller’s market. Many inexperienced bidders engage in bidding wars to get the home they want, even if the home isn’t worth much. That’s not a good idea.
- If you are tired of losing, you may end up making an offer on a home you wouldn’t usually be interested in. Property ownership is an investment and often a 30-year commitment. Don’t get sucked into a low-cost house. You’d be better off waiting until the market cools off before starting your home search.
A Few Tips for Sellers
To increase interest in your property in a seller’s market, you’ll need to compete with other sellers.
- Before you market or show your property, make sure your home is clean and organized, and in good condition.
- The price of a home tends to rise in a seller’s market, but pricing your home relatively still helps. You’ll be more likely to attract buyers if you lower your asking price slightly below fair market value. It is common for sellers to list their homes slightly below their assessed value to encourage bidding wars.
- Examine offers carefully: During a seller’s market, it’s even more important to consider offers carefully. In their search for the highest offer, sellers frequently ignore the buyer’s financial strength. If buyers say they will pay a certain amount, that doesn’t automatically mean they can get the funds. The appraised value of your home cannot be financed beyond that.
- Your last concern should be accepting an unrealistic offer and then having to resell your home when the deal falls through. Buyers will have more power when negotiating when your house has been on the market longer.
- Make sure any buyer who requires financing is preapproved for a loan. When buyers receive pre-approval, their credit and finances are verified, ensuring they can obtain a loan for a specific amount. Prequalification, however, is merely an estimate of a buyer’s finances.
- Observe contingencies: Also, be aware of offers that include contingencies. In the event that certain conditions are not met, buyers can back out of sales contracts, including mortgage house contingencies, home sale contingencies, appraisal contingencies, and inspection contingencies.
- According to Phil from Cash offer Please, Many homeowners choose to sell their homes through a real estate agent in order to get the best price. However, you may be able to sell your home for less than market value by making a cash offer to the buyer.
Knowing where the market stands is beneficial when buying or selling property. There is less competition for buyers in a buyer’s market when there are many homes available. On the other hand, a seller wants to list their house during a seller’s market when there are fewer properties for sale and a high number of interested buyers.
It is still important to hire a real estate agent, regardless of the market conditions in your area. A real estate agent can give you a leg up on your competition, regardless of market conditions.
Choosing the right time to buy a home can be a major challenge. In a seller’s market, you will notice that homes disappear almost immediately after being listed. To avoid losing out on what could be your dream home, you should get preapproved as soon as possible instead of waiting until the last minute.
Pros and Cons of Homeowner Association
Several localities offer residents the option to join a homeowner association. These associations can be quite helpful in resolving minor community issues. However, they may come with several drawbacks that need to be considered. To understand the pros and cons of joining HOAs, you must first understand what HOAs are, what they do, and how they affect homeowners.
What are HOAs? A question that you might be wondering. The term simply refers to homeowner’s associations, which manage a community for the benefit of its residents.
What does HOA mean in Housing?
Homeowners associations exist to manage residential communities, maintain curb appeal, and keep property values high. In addition to this, property owners’ associations manage residential communities. Home developers are responsible for initiating the association.
As a result of legal advice, the developer drafts the association’s governing documents. Bylaws, amendments, rules and regulations and articles of incorporation are among the documents.
Simply put, it would mean living in a house that is a part of an association. Although there are plenty of benefits to living in an HOA, it may not be suitable for everyone. Living in an HOA community, for example, gives you access to amenities you would not otherwise have.
What is the purpose of an HOA?
As soon as you move into your new home that is registered with the association, you become a member. The HOA’s governing documents are automatically applied to you as an HOA member. The documents outline the dos and don’ts as a homeowner. Rules like these help preserve property values and keep neighborhoods safe.
Managing an HOA entails taking care of the best interests of the community, enforcing rules, and setting the amount for dues. A review of the HOA’s governing documents is recommended before moving into a homeowner’s association.
Pros of HOA
Here are some pros of HOA that can help you make a decision.
1. HOAs are responsible for maintaining common areas
The aesthetic appeal of a well-maintained community contributes to the ease of living within it as well. A landscape that offers clean roads, trimmed trees, and blooming flowers, brings harmony and peace. The wellbeing of a community is important, and it is comforting to know that these services are in place.
The benefits of living in a community with an HOA include common community areas being maintained by the organization. Swimming pools, playgrounds, barbecue areas, and community centers are included.
The spaces can be enjoyed without having to worry about maintenance. In addition to maintaining the landscaping in front of each unit, some HOAs also take care of maintenance in the backyards of residents.
2. A consistent value for each property
Property values are a primary reason people buy an HOA home. Your board helps you protect your investment and ensures its value remains the same. It is the owners’ responsibility to maintain their lawns, homes, and personal property in accordance with community laws. This offers several benefits for the homeowner as well as the community. The members of the board live in the same community, and they are just as eager to see it thriving as you.
3. Complying with standards
Every homeowner must follow certain guidelines. Prior to signing on the dotted line, buyers should familiarize themselves with the governing documents. There isn’t much tolerance for unruly behavior in a typical association – from a wild party in someone’s backyard to disregarding architectural guidelines. The neighborhood has a board that mediates neighbor disputes and sets forth consequences when things don’t work out.
Cons of HOA
Let’s take a look at the cons of HOA.
1. HOA fees must be paid monthly
Residents of the community must pay HOA fees because the association maintains the common areas and exteriors of homes.
The fees for these amenities vary from community to community. In addition, HOA fees are not set in stone, so they are subject to change from time to time. When the association is unable to collect enough funds to maintain the community, the association may have to increase the monthly fee.
2. Failure to pay HOA fees can have serious consequences
Paying your HOA fees is an important part of living in a community. Fees must be paid by all residents of the community. If the HOA remains unable to collect enough money from residents, the property may not be able to be properly maintained. This can result in the association firing the property manager, causing the community’s appearance and condition to deteriorate.
3. Rules and regulations are enacted by the HOA
The HOA sets requirements for your home’s appearance. Ranging from what type of front door and windows you can have to decide what color your front door or shutters can be painted – the association has complete control over your home’s appearance. You may even be restricted in how much outside decor you can use and how many vehicles you can park in your community. If you violate the community’s rules and regulations, you could receive a fine.
4. Inadequate management
Poor management can lead to deterioration in some HOA communities. As a preventative measure, electing board members who have the association’s best interests at heart is the perfect way to avoid such a situation. In addition, many HOAs hire a management company to ensure responsibilities and duties are properly fulfilled.
5. Foreclosures and lien rights
A lien or foreclosure is always a concern when living in an HOA. There are certain HOAs that can place links on your property and then foreclose on it. The lien will only occur if your association due aren’t paid.
It’s important to consider the pros and cons of living in an HOA before making a decision. Paying monthly fees and adhering to the rules of an HOA community is necessary. You’ll also benefit from things like preserving your property value and being able to access well-maintained amenities (like landscaping). In the long run, you will benefit more from HOAs if you can tolerate the minor inconveniences they bring.
Karachi Vs Lahore – Which One is Better?
Karachi Vs Lahore – Which One is Better? This is a question people ask all the time.
Karachi and Lahore are the two most famous cities in Pakistan. Both are known for their rich culture and amazing hospitality. Karachi is popular for being an economic hub, whereas Lahore is popular for its amazing heritage and beautiful architectural buildings. Both the cities have their own importance and are unique in their own way.
Let’s have a look at the basic factors of both Karachi and Lahore.
Karachi, the city of lights, is the 8th most popular city in the world. There are several reasons for being most popular. Its history, its culture, fashion, trade, entertainment and investment are some factors that contribute towards it. The city is super busy in comparison to any other city in Pakistan.
If you plan to go somewhere, you will have to leave an hour before, because Karachi has always witnessed immense traffic. While traveling in Karachi, you will notice that the city is full of energy, warmth and enthusiasm. Residents of Karachi are diverse in cultures, ethnicities and religions. All these aspects add to the diversity, versatility and uniqueness of the city of lights – Karachi.
City Size and Population of Karachi
The metropolitan city has a population of more than 23 million and a population density of almost over 24,000 people per square kilometer. Which makes it clear that Karachi is denser than any other city of the urban population in Pakistan. This is why Karachi is the largest city in Pakistan.
Demographics of Karachi
It is believed that almost 90% of the population in Karachi are migrants from various backgrounds. For a large number of Gujarati Muslims, Karachi has historically been a home. Communities of Gujarati Muslims include Chhipa, Memon, Khoja, Ghanchi and Tai.
Many non-Muslims left Karachi for India after the 1950s. Therefore some small communities of Parsis, Anglo-Indians and Goan Catholics are still present in Karachi. Muhajirs in Karachi are large in number ie is almost 50% of the population, which includes Gujarati, Rajasthani and Malabari Muslims.
After Muhajirs, the second largest group in Karachi are the Pashtuns, 25%, who hail from Balochistan and Afghanistan.
Growth in Karachi’s Population
At the rate of around 5% per year, Karachi is growing. Almost 45,000 migrant workers come to Karachi from all over Pakistan every month. It is expected that rapid growth in the population of Karachi will make it the seventh-largest city in the world by 2030.
Weather of Karachi
Summers in Karachi are very hot, arid, windy and oppressive, whereas winters are short, dry and more comfortable than summers. The temperature in Karachi varies from 55 F to 94F. It is above 100F and below 49F.
Transport of Karachi
For shorter routes, people of Karachi use rickshaws or taxis, and for longer routes, they prefer transportation through buses, which is far cheaper than any other mode of transport.
Places to visit in Karachi
Here is a list of some of the most famous places to visit in Karachi.
Going to the beach has never been a regret! We always enjoy ourselves and spend hours and hours at the beach without realizing the time. Karachi is famous for its beautiful beaches. Tourists from Pakistan always make sure to pay a visit to the beach during their stay in Karachi. Sea view beach is the closest to the city, and no matter what the time is, it has always been crowded.
For the people of Karachi, winter land is a huge bliss! Because of the hot weather in Karachi, people don’t get to experience rain and winds for a long time. Winter land is a place to experience when you feel like having some fun by getting some winter vibes. The place offers several fun activities, such as bumper cars and slides.
To experience Indo Saracenic architecture, Mohatta Palace is the place to visit in Karachi. In 1927, it was built as the home of Shivratan Mohatta. It is open to the public from Tuesday to Sunday from 11 am to 6 pm. The palace contains a secret passage, a 1km path underground and leads to a Hindu temple. In this palace, you will also find various displays of British culture from the subcontinent.
To experience Karachi’s British colonial history, Frere hall is a Venetian gothic building that one must visit. Frere Hall is Karachi’s most iconic place, with a beautiful mural painted by one of Pakistan’s most revered artists Sadequain Naqqash.
Named after Queen Victoria, the Empress market has been in operation for years. From groceries, spices, seafood to some fun activities in Karachi, the empress market has been a popular place. It is one of the busiest places in Karachi for shopping.
Food culture in Karachi
Karachi is famous for its food. Here is a list of restaurants in Karachi that are known for their delicious cuisine.
- Behari tikka at Meerath Kabab House
- Dum Biryani from Gol Market, Nazimabad
- Fish by Yadgar
- Katakat and Brain Masala from Noorani at Do Darya
- Beef fry kabab at Burns Road by Waheed
- Javed Nihari (dastagir, FBArea
- Nihari by Ghaffar Kabab House
- Afghani Boti at Al-Asif
- Afghani Pulao by Al-harmain
- Peshawari chapli kabab by A-one (Shah Faisal)
- Balochi tikka from Madina 2, Superhighway
- Karahi by anwar baloch (Malir)
- Kali Mirch Chargha by Cafe Laziz
- Hunter beef burger from Hanifa
- Super bun kabab at Pakistan Chowk
- Cheeseburger by Khan Broast, Near Waterpump
Universities in Karachi
With a literacy rate of 65.26%, Karachi has some of the best universities in Pakistan. There are almost more than 50 colleges and universities that are located in the capital of Sindh. The categories of colleges and universities include science, arts and commerce.
Top universities in Karachi include:
The Jinnah University for Women, located in Karachi, is the pioneer university for women in Pakistan
The University of Karachi is the largest in Pakistan with the largest faculty.
NED University of Engineering and Technology is Pakistan’s oldest engineering institute located in Karachi.
The National University of Computer and Emerging Sciences, NUCES-FAST, is recognized as one of the top universities in Pakistan. It has two branches in Karachi.
Let’s find out about Lahore now.
A lot of travelers in Pakistan start their adventure from Lahore, The heart of Pakistan. The city is known for its vibrant, hospitable and joyful atmosphere. But, we cannot forget Lahore’s scrumptious food, which you cannot find in any other city in Pakistan. Lahore has been of great importance when it comes to geography and culture. There are a lot of fun places in Lahore that you and your family can visit
Colonial and Mughal dynasty eras can be witnessed all over the city with several beautiful historical architecture buildings. Because of Lahore’s fantastic taste, Lahore is also known as the food capital. Several places can be visited in Lahore to experience the beautiful architecture of the walled city. Rich in history and tradition, Lahore has experienced three eras: Mughal, British and modern.
City Size and Population
With the boundaries of 1772 kilometers, the current population of the city is 7 million. In the past 14 years, the city has expanded due to its growing population. Because of this, it remains the 42nd most populated city in the world. The population density of the city is nearly 63000 residents per square kilometer.
Population Growth in Lahore
With a population above 11million, experts thought that Lahore would become a central megacity by 2025, but it has already become. With an increase in Lahore’s population, it is expected to become the largest populated city by 2050, with almost 42.46 million people.
Weather of Lahore
With an average high of 102F and a low of 83F, the hottest month in Lahore is June. Winters in Lahore last for almost 2.5 to 3 months, with an average low of 47F and a high of 66F.
Transport of Lahore
Modes of transport used in Lahore include bus services, rickshaws, taxis and metro services. Two major providers of bus services are Lahore Transport Company and Punjab Mass Transit Authority.
Places to visit in Lahore
Here is a list of places to visit in Lahore.
Located in Lahore, constructed by the Mughal emperor Aurangzeb, Badshahi Mosque is the largest mosque of the Mughal era. It is one of Pakistan’s most iconic sights that people all over the country love to visit. It is known as the crown jewel of Lahore with a large courtyard that can comprise almost 10,000 people.
Fort Road Food Street
Fort road food street has some of the best restaurants in Lahore. The food street has beautiful and colorful buildings with rooftop restaurants for citizens to enjoy the view. There are both desi and continental restaurants with amazing food quality.
Delhi Gate Market
The old city of Lahore had almost 13 gates to it. When the British conquered the region all of these were destroyed. However, 6 out of 13 were rebuilt, and Delhi Gate is one of them. The entrance leads to a busy market filled with lots of happening and life. It’s a great place to visit if you want to have a look at the local life of Lahore.
Anarkali bazaar is divided into two, the old and new. While on your visit to Anarkali bazaar you will get to find a lot of traditional foods, clothes, jewelery and handicrafts. Walk-in Anarkali bazaar has always been an interesting thing to do for the people; even if you don’t want to buy anything, a walk at Anarkali bazaar is also enough to enjoy the locality.
Visiting a Shalimar garden is one of the most relaxing things that the people of Lahore tend to do. It is a great option if you want to spend time with your family. There is a beautiful fountain with colorful flowers to create a welcoming and comfortable atmosphere for the visitors.
Universities in Lahore
With a literacy rate of 64%, Lahore is considered to be a primary education hub of Pakistan with some top universities. Almost 40 licensed universities offer degrees in business, science, humanities and engineering.
The University of Punjab, Government College University, and Forman Christian college are Pakistan’s oldest universities. The recently-established University of Lahore is a private university and offers programs in medical sciences, health sciences, biology and engineering.
Both Lahore and Karachi are unique in their own way. The cities are of great importance to Pakistan. Lahore, because of its historical architecture, and Karachi, because of its vastness. In this blog, Feeta.pk has listed down the stand-out features of both cities.
Which one is your favorite? Let us know in the comment section below!
Corner Apartments | Pros & Cons
Corner houses and apartments are the first choice for investment or living for all. Real estate holds high value for corner houses, and especially apartments, given that they come with their own perks.
However, there is still an ongoing debate whether or not investing in a corner apartment is ideal, there are significant pros and cons of corner apartments that one should keep in mind while making the final decision.
In this blog, Feeta.pk discusses all the upsides and downsides to getting a corner apartment so you can make an informed choice.
Corner Apartments | Pros & Cons
Pakistan’s real estate sector is shifting towards increasing the development of vertical landscape, and this is giving rise to the availability and demand of apartments. This need for apartments is simultaneously adding to the rising demand for corner apartments. Let’s take a look at some facts that can help you decide if it’s worth it.
Why Opt for a Corner Apartment
Starting with a good note, corner apartments are everyone’s preferred choice because of multiple reasons. These reasons factor in to help you live comfortably.
As apartments typically come with balconies and a back terrace, a corner apartment actually gives you privacy in the balcony as there is only one neighboring balcony, and the other side is free. This is ideal for people who love to keep their privacy intact and have introverted personalities, thus keeping you at a distance from any nosy neighbors that you may have.
Additional Square Footage
Because of the huge infrastructure and architecture involved in elevating an apartment complex, corner apartments usually get extra square feet in their space.
Because of this, they look and feel wider than other apartments of the same building. For instance, we can understand this by taking the example of an apartment covering 850 sq. M. ft. In this, the corner apartment may be about 120 sq. M. ft. larger due to its positioning in the building. This is a very prominent advantage that makes people prefer corner apartments.
Even though apartments, generally, are great with ventilation as compared to houses, Corner apartments come out at the top. This is based on their L shaped design, which leaves more outdoor areas for ventilation. With corner apartments, we can also credit the importance of windows and how they keep the ventilation flowing, leaving your house fresh.
Having extra ventilation keeps your house temperature cool in summers, and the fresh air is great for your health. Besides this, good airflow keeps your house safe from water seepage, mold, and other issues that are likely to stem from a closed space.
Corner apartments have the most beautiful views, and that is a sure fact. This is one of the biggest reasons why people choose to live in corner apartments. With the extra balcony space, and windows around, you can enjoy the scenery any time of the day.
Even if there are no green areas around or any parks to view, you can always enjoy the night view of the twinkling lights from houses and buildings around that make a great view from the corner apartment.
Why Not Opt for a Corner Apartment
With so much value, there are a few drawbacks that can come in the way of your decision to live in a corner apartment. This may be a big factor for some, and for others, it can be insignificant.
A Lot of Sunlight
Although this remains a variable according to the location and direction facing of an apartment, corner apartments usually get more sunlight than others. This is because there is less view blocking and more windows.
This drawback may be considered as an advantage by some who live in cooler weather conditions, but in Pakistan, summers can be really harsh and the sunlight can become unbearable.
Because of their high demand and less availability, as well as the perks that come with it, corner apartments cost higher than other apartments. Real estate has a lot of demand and value for corner houses and apartments, and resale, investment, living in these is always the ideal choice for people.
People who love the benefits that come with living in a corner apartment are willing to pay more just to create a better home or invest in a better property that will give profitable returns in the future.
Prone to Noise Pollution
Even though corner flats have more privacy than other facing flats, they can have more noise overall as well. This is because they are usually situated by the roads and intersections, busy with traffic and people passing throughout the day.
This can cause disturbance for you all day and disrupt the calm environment that your home needs.
Corner Apartments -Ground Floor
These are actually on the lower end of the cost spectrum and cost like other apartments. The difference? Well, corner apartments on the ground level do have privacy and ventilation, but the airflow and scenes are not the same.
People living in such property have to keep their windows covered at all times to avoid nosy neighbors and people passing by who want a peek. Because of keeping the windows covered, the temperature and ventilation are disturbed.
Considering both factors for corner apartments, the decision eventually comes a lot to how all these things are affected by the location, city and weather of the area.
If you’re looking for a corner apartment to move into, or are deciding to for a corner housethe above-mentioned facts can help you understand according to the location you are going for.
You can find out more information about apartments and housing at our blog, Feeta.pk.
Here’s how you should choose construction material for your house
Being the foundation of any house – construction materials should be selected after thorough research and evaluation. Anesthetic design with sustainability is only possible with the proper construction material. However, many remain unaware of the significance of choosing the right materials, foregoing this important step entirely.
To help you make the right decision for your home, Feeta.pk brings you a complete guide on how you should choose construction material for your house.
Estimate your Costs
The construction market offers a wide variety of quality construction materials. However, their prices may vary significantly. Opting for the highest-grade materials should be the right move if you have a limitless spending budget since durability and sustainability are the utmost priority.
However, there will be a limited spending budget in most cases, and finding the perfect materials for your home under a limit can be quite tedious. As a general rule, choose cost-effective materials without compromising overall quality. Estimating a budget can help know how much you can spend on materials, cut down on unnecessary costs and make room for better construction material.
Availability of Materials
Before deciding on any materials, it is essential to determine their availability in the market. Materials that are either rare or unique can become impossible to find in the market, or they might have to be shipped from a different country. This can raise costs and delivery times for the construction and building materials, affecting the overall timeline for the construction of your house.
Construction materials for homes greatly depend on the climate conditions of the area. Factors such as average rain, snowfall, sunlight, and temperature are essential determinants for the materials. Some materials perform better in cooler temperatures, while others deteriorate under heavy rain or snowfall. This makes it necessary to consider the whole climate while choosing construction materials.
With climate activism on an all-time high, the construction industry has also taken a few steps to incorporate sustainability. Construction materials are responsible for a significant portion of the world’s carbon footprint, especially materials such as cement. This has led to a rise in the use of eco-friendly construction materials. If you want your house to be greener, the construction market has several sustainable options that you can explore.
Another factor to take into consideration while choosing materials is their aesthetic appeal. Construction materials can drastically change the aesthetics of your house. For instance, laminated wooden flooring can give your home a touch of elegance, while opting for ceramic tiles can offer a minimalistic appeal.
The materials that you choose should also compliment the surroundings of your house. A log cabin-style home may look pleasant in the hills of Murree but not so much in the streets of Lahore. Your home’s aesthetic appeal should mirror its surroundings while incorporating your unique taste.
Durable construction materials are essential for any home, increasing lifespan and lowering maintenance costs. Some materials can offer universal durability, while others are climate-dependent. Generally, construction materials should be repellent to moisture, corrosion, and other environmental conditions such as heavy rain.
For construction materials, it boils down to structural integrity and performance. The materials that you choose should withstand heavy loads and excessive weights. The choice of materials should be evaluated, and there should be no compromise on quality. Anything made out of poor quality can become a safety hazard.
The best construction materials are those that require minimal maintenance. Maintenance is necessary for preserving your home’s original look. However, it can also rack up additional costs over time. To avoid these costs, opt for high-grade quality materials as they offer higher durability and less maintenance over time.
Construction material should always be selected after thorough research. Factors such as durability, aesthetics, and climate conditions should be considered. However, the general rule of thumb is to never compromise on quality, as these materials are the core of your house. For more information on construction materials, visit Feeta.pk – Pakistan’s first online real estate market.
Top Bedroom Furniture Ideas in Pakistan to Refine Your Bedroom
After a long and tiring day, all one needs is to relax at the place that you feel most comfortable in, ie your bedroom. Your room is your safe space, and decorating it with your favorite pick of bedroom furniture design that can make your bedroom just the dreamy place where you can relax.
Choosing the right bedroom furniture sets can have a major effect on our day in the long run. Our entire day depends on how we are taking care of ourselves, taking a good amount of sleep, how we are relaxing our backs on the mattress and bed set.
You can take a look at this collection of bedroom furniture in Pakistan that Feeta.pk has compiled for you to bring instant comfort and aesthetics to your room.
Popular Ideas for Beautiful Bedroom Furniture in Pakistan
When you’re choosing your bedroom furniture, you need to pick a theme and just go with what will look best with it. There is a vast variety of types and sizes of furniture that you can get to create just the desired aesthetic that you want.
Here are some modern bedroom furniture ideas that you can utilize while refining your bedroom into the relaxing and comfortable space that you need.
Chocolate Bedroom Furniture Design
The simpler, the better.
In Pakistan, heavy wood is generally used for making bedroom furniture which can be very expensive if carved. So keeping it simple will not only be affordable for you, but also give your furniture a rich effect, but it will also be very useful for you to restyle with any theme you want to set your room with, for many years to come.
This chocolate brown design incorporates not only minimalism but also delivers elegance on a simple budget. The dressing table is a stylish and compact design, that perfectly complements the bed set and the cupboards.
Cherry Wood Bedroom Furniture Design
This cherry wood furniture design is a beautiful and modern furniture design that has brass detailing that brings out an elegant finish to the furniture. It comes with a dresser that has multiple drawers, as well as side tables to complete the bed set.
The cherry wood is a beautiful color if you’re looking for a rusty and warm theme. It is a very popular choice for bedroom furniture in Pakistan. Not only is it minimal, but also very stylish.
Wall-Mounted Head Rest Bedroom Furniture Design
Wall-mounted headrests are the new thing since 2021! These are making round around the interior industry and is a famous choice for bedroom furniture. Although this falls more on the expensive end of the spectrum, this is a very luxurious and beautiful design that will elevate your bedroom.
It typically comes as a cushioned headrest that is detailed with brass or gold, and on the side, you can incorporate mirrors or leave as be. This is a very lavish bedroom furniture choice that is bound to awe your guests and also create a pleasing and relaxing environment for you.
Extended Headrest Bedroom Furniture Design
This modern bedroom furniture design features an extended headrest that encloses the side table space. It gives off a very neat and minimal look that refines the aesthetic of your bedroom. Because it encloses the side tables, it gives a compact and organized look to your room.
The brass detailing in furniture seems popular, but it is actually optional, you can switch it with any other details or even leave it simple for a clean and sophisticated look.
White Bedroom Furniture Design
This white dreamy aesthetic with a white backdrop is just the calming environment that you need after a long day. White bedroom furniture is a very common choice for people who love a calming and soothing aura.
You can always style white bedroom furniture with cream colors, or pastel hues to keep a cool decor, or switch it up with a pop of dark colors to freshen up the theme of your bedroom every once in a while. White is also an ideal choice if your bedroom is smaller in size, as it gives a more open and wider feel to the room.
Black Bedroom Furniture Design
This one is for all the black enthusiasts, who love a dark and calming vibe to their bedroom. Black is a great color to go with grays and cream shades, as well as silver detailing that gives it an elegant finish.
Black bedroom furniture is a very unique choice that you can make and set a theme for your bedroom. Not only does it look rich and luxurious, but it also sets an elegant theme for your bedroom.
This is better off with a complete set of furniture, with dressing table, cupboards and side tables black as well, since only a black bed set might look singled out for the room.
Mahogany Bedroom Furniture Design
Mahogany wood or color is a very popular choice in bedroom furniture in Pakistan. This is a rich color that goes well with all themes and remains vibrant throughout the years.
If you’re opting for a mahogany colored bed set, try choosing a simple design and bed set with minimal geometric details that will keep your room aesthetically pleasing. The best thing about this is that it can fit in with dark hues, pastel colors, and even contrasting colors.
So if you’re someone with colorful interests, this is the optimum bedroom furniture design for you.
Gray Cushioned Head Rest Bedroom Furniture Design
This cushioned and studded design is a very popular choice in Pakistan, that not only revamps your bedroom look but also gives you a comfortable and relaxing space. The cushioned headrest is very comfortable and also gives a luxurious finish to your bedroom furniture.
It is a modern design that looks ravishing in almost all colors, especially dull tones like mauve, gray, white etc. The best is to pair the bedroom furniture with different hues of the same color for a rich finish.
This article will assist you in choosing the right type of furniture for your bedroom, with all the right aesthetics that will reflect luxury and elegance.
If you’re still confused about the type and size of your furniture for your bedroom, you can look up these 50 small bedroom ideas that you can incorporate while revamping your bedroom.
For more innovative ideas and creative tips, you can follow our blog at Feeta.pk.
Plastic Roads | How will they help?
Plastic is a material so hazardous that it may be at the forefront of causing climate change, yet the human population cannot survive without it. For decades, scientists have tried to find a solution to decomposing plastics, yet their research remained unable to decipher this predicament.
The only solution that remains is recycling, and what better way to mass recycle plastics than to make infrastructure out of it. This was the idea behind the innovation of introducing ‘Plastic Roads’ – a cost-effective way of addressing infrastructure needs while simultaneously recycling plastics. Feeta.pk features an in-depth analysis of plastic roads and their impact.
Adverse Effects of Plastics
Before delving into how plastic roads will help, it is essential to first understand how plastics harm the environment. Plastics are responsible for a considerable portion of the world’s overall carbon footprint. Since plastics cannot decompose, they are either recycled, incinerated, or discarded.
The numbers reveal that almost 55 percent of the world’s plastic waste is discarded, and 25 percent is incinerated. This leaves behind only 20 percent of plastic waste that is recycled. These numbers reveal how plastic waste is a threat to our planet, as more than half of this waste ends up in the ocean, damaging marine life, while the incinerated plastic results in more than 850 million tons of greenhouse emissions being pumped into the atmosphere.
How do Plastic Roads help?
A mix of sustainable road construction technology and climate mitigation – plastic roads originated as an experimental idea in India back in 2001. Since then, immense research has been poured into this innovative idea, and the result is an answer to both climate change and sustainable construction.
The initial benefit of plastic roads is the mass recycling of plastic waste. Just a one-kilometer strip of the plastic road can consume and recycle almost 10 tons of plastic waste. If this innovation is implemented worldwide in constructing roads and highways, the globe’s plastic waste would be slashed to almost zero.
Looking at the sustainability side of plastic roads, these innovative roads come with a wide range of benefits compared to regular roads. They offer higher flexibility, durability, and a lifespan three times longer than regular roads. Moreover, the construction materials for regular roads are much more expensive, whereas plastics are practically free, taking down construction costs by several folds.
Since the idea is still in its initial phases, the plastic road construction processes vary. Each country has tried to develop a unique formula for making plastic roads. India, the first nation to experiment with this idea, used bitumen and plastic to make its plastic roads. Indonesia has experimented with an asphalt-plastic mix. Plastics remains the common denominator.
Since the construction of plastic roads is rooted in recycled plastics, the source of these plastics is everyday-consumer items such as product packaging and water bottles. However, the end-product of making these roads is unrecognizable, seeming almost similar to a regular concrete asphalt mixture.
The process for making the mixture is straightforward. The plastic waste material is sorted, cleaned, and shredded. The material is melted at around 170 degrees, with bitumen later added to the mixture. This simple mixture is laid out for roads like a regular asphalt concrete mixture. The wet process in plastic road construction is also quite common, consisting of a mixture of plastics, bitumen, and aggregate.
Pakistan’s first-ever Plastic Road
In December 2021, Islamabad made history by laying down a one-kilometer plastic road on Ataturk Avenue, making it the first plastic road in Pakistan. This project was a result of a collaboration between CDA and Coca-Cola Pakistan. This plastic road in Islamabad has made way for these roads to become the future of Pakistan’s road networks, making the country environment-friendly while saving millions in costs.
Tackling not just climate change but also the question of sustainability, plastic roads are truly the future of modern infrastructure. Despite being in its initial stages, several nations have implemented policies for plastics in construction.
This ground-breaking innovation can decrease the world’s greenhouse emissions by billions of tons while making construction cost-effective. If more countries follow suit, plastic roads could become the symbol of restitution for the Earth’s environment.
For more details, visit Feeta.pk – Pakistan’s first online real estate market.
Effective Real Estate Marketing Ideas That Every Real Estate Company Should Follow
One cannot object to the fact that comprising a property is an essential matter to discuss. The reason behind this is that in Pakistan, real estate is one of the most beneficial investment opportunities which plays a big part in generating the economy.
But how does this all come into work?
In this blog, Graana.com will explain how this is done? And the answer is that real estate companies execute their work through the promotion of real estate companies. Now you might be wondering who promotes the brand and what is the reason behind it?
In today’s time of evolution and development, it has become important to have a marketing team that helps in branding your company. They design such techniques that help to boost the plan and make its presence known. If we talk specifically about the real estate sector, the marketing in real estate chooses the most prominent marketing company to create their name in the market.
In this blog, we will present some interesting and effective marketing ideas that every real estate company should follow
So, let’s have a look!
- Setup a social profile
- Make an attractive business card
- Make yourself easy to contact
- Hire a professional photographer
- Do local sponsorship
- Make your website and application user friendly
- Build google business profile
- Make social media adds
- Keep an eye on your competitor
Now, let us explain every idea in detail!
Setup a Social Profile
The first and most important effective marketing idea is setting up a social profile. This will give your company an instant boost if done correctly. For this, you will have to make social media accounts on all networks such as Facebook, Twitter, Instagram, and LinkedIn. Setting up a social profile will help you connect to your clients and also highlight your success stories. Through your social media profile, you will educate your buyers related to real estate and update them with the project that you are working on.
In one way or another, the world is now dependent on social media, you will probably not be able to make your presence without social media as much as you can with the help of it. To make your social media attractive you will have to upload nice photos, catchy captions, and above all, you will have to be active on social media for your clients.
Make an Attractive Business Card
Design an attractive business card for your company. The card should contain all the necessary information such as the name of your company, contact name and number, email, and company address. A business card would represent your company’s brand and it is also considered to be an overall business image of your business.
Your card must be designed in such a way that it inspires people and the desire to contact the company. A business card is also considered a direct marketing tool because in-person meetings lead to sharing of business cards directly to whomever you want to share them with. By this, we can say that a business card can make or break the marketing game for you. The reasons behind this are
- It gives an ease of contact details
- Create a quick first impression
- Gives a personal touch
It is a fact that successful marketing of real estate lies in professional and great photography. Photographs of poor quality will make people lose interest and result in less followership. For this, you must hire a professional photographer who has experience in architecture and home photography. By this, you will be able to make your listings attractive and gain the attention of people and then this will result in helping you to get a potential buyer. Your photos will act as a support to show your clients what you have to offer. Nowadays 3D tours are becoming a popular thing. Your professional photographer can also create a 3D video of your property which will help your clients to have a 3D tour of the house while sitting at home.
Hire a professional photographer today to make your real estate company’s listing more enticing and attractive.
Do Local Sponsorship
Being a local sponsor will help you make your brand be in the spotlight. Be a sponsor at festivals, school events, or a sports team. This means that you can get your business name or brand logo on pamphlets, t-shirts, or flyers. If you will sponsor a local group you will directly become their real estate leader for reference. Some ideas for local sponsorship are
- Donate to charity
- Sports team sponsor
- Sponsor an event such as pet adoption,
- Donate money at local schools
- Contribute monetarily to different building projects
The sponsorship idea completely lies in the motto “spend money to make money” though it is an old saying it is true without any doubt. Therefore real estate companies should take advantage of these sponsorship opportunities and donate to a cause to create a positive impact on society and build maximum exposure for your company.
Make your Website User Friendly
Nowadays people get attracted to what’s easy for them to use and understand. You must formulate a user-friendly website. The reason why a website is important for real estate marketing is that it helps to educate clients and makes it easy for agents to provide them with valuable resources. A website should deliver content that helps buyers throughout the purchasing process. Here are a few features that should be included in your real estate website
- Photos and description of properties
- Searchable listings
- Customer-centric content
- A consistent look
Build Google Business Profile
To make it easy for users to find you on google maps, search and knowledge panel, set up a google business profile. The reason why having a business profile on Google is important is that it is one of the most trusted platforms for authentic reviews. You can make your business rank higher through Google’s business profile. But this is dependent on the regular maintenance of your business profile. This can be done by logging in to your profile daily and adding new content like listings and photos.
Make Social Ads
To create a presence on social media, the feature that helps the most is paid social media ads. Making social ads for your real estate business can result in excessive engagement and an increase in followers on your profile. This feature allows you to choose your target audience with a budget that suits you. Keep in mind to choose a picture or video for a paid ad that is attractive and highlights information that you would want to give to your audience. Social media ads are one of the effective ideas that can help in real estate marketing.
Keep an Eye on your Competitors
In this era of competition, it is important to keep a check on what your competitors in real estate are doing. How are they managing their social media or how does their website look? By this, you can also get an idea of the mistake they are making and you can avoid replicating them. this will help you distinguish how your company can do better. after you do your analysis, you can come up with new ideas that how can you make your company stand out.
So, which way do you think is most effective?
How to Get to Fairy Meadows? A Complete Guide
The exotic beauty of Pakistan; Fairy Meadows is located at the foot of Nanga Parbat at the western edge of the Himalayan mountain range in Pakistan’s northern region. The road to Fairy Meadows is a picturesque and quite dangerously high mountain track.
If you plan to travel to Pakistan, you must have Fairy Meadows on your bucket list. For more detailed info on travel guides of Pakistan, you can visit the blog page of Graana.com, where you can find various blogs on related topics.
In this blog you will find a complete guide to Fairy Meadows, so let’s start this virtual journey.
Some interesting facts about Fairy Meadows Pakistan
|Fairy Meadows height from sea level||3300m|
|Height of Nanga Parbat||8125m|
|Temperature||Highest 26 degrees C in July & Lowest 4 degrees C in January|
History Behind the Name
Back in 1953, Australian climber Hermann Bhul gave the name Märchenwiese which means, “Fairy Tale Meadows ”, to this place because of its eye-catching beauty. He became the first person to climb the peak of the Nanga Parbat. The local name of Fairy Meadows is “Joot”.
In 1995 the government of Pakistan declared the place as a national park.
Road to Fairy Meadows
The road to Fairy Meadows is not an easy and simple one. You need to get there by going through a few stages. First of all, you will have to go to Gilgit which is a city located in the North of Pakistan. From there you go to the Raikot bridge, then there is a jeep ride and finally a 2 hrs hike to the destination.
Steps to reach Fairy Meadows:
Follow these steps to reach Fairy Meadows.
Step 1: Go To Gilgit
Now there are a few options you have to reach Gilgit. The first one is to Fly to the city via Islamabad International Airport. Per day there are 3 flights to Gilgit from Islamabad. Fairs are also quite affordable, however, during the summer season the prices go high.
The other option you have is taking a bus from Islamabad to Gilgit. It will be an 18 hour road trip on Karakoram highway. It will cost you less as compared to the previous option; usually around Rs 2500. This bus will drop you off directly at the Raikot Bridge.
|Your Airplane||1hr, 15min|
If you want to avoid traveling through the Karakoram Highway, flying is probably a better option for you. Traveling on the Karakoram highway is enjoyable, yet very frustrating at the same time. Landsliding is very common on this route, and the passage can be blocked for hours and sometimes even for days so this unpredictability can be a bit overwhelming for travelers.
Step 2: Go to Raikot Bridge
80km south of Gilgit we have the Raikot Bridge. It is a 2 hour drive to get there. You can either take a taxi or hitchhike your way to the bridge. The taxi fare is a bit high, it’s around Rs 1000. Also, there is this NACTO bus terminal, you can get into a bus from there that will head towards Chillas.
Step 3: Scariest Jeep Ride
After you have reached the Raikot Bridge, the next destination is Fairy Meadows. There is only one way to reach Fairy Meadows, and that is taking an adventurous jeep ride. It’s a 2 hour drive.
Unlike regular, bumpy mountain rides, this one is going to be crazy. However recently the road was widened after there were a few accidents. So now the road is not as dangerous. The drivers are also experts so there is nothing much to worry about.
Fares are again a little bit high; Rs 8000 for one jeep. However, if 3 or 4 people share the jeep they can split the fare among themselves.
In case you are thinking about it, don’t try to skip the Jeep ride, unless you have no choice but to walk. Police will stop you midway so it’s not worth giving a try.
This ride alone would be one memorable experience for you. This adventure is all worth it because the end destination is the mesmerizing beauty of Fairy Meadows.
Step 4: Hike
Jeeps will pick you up from the Raikot Bridge, and drop you off at the village of Tattu. From there onwards, there is a 2 hour hike to Fairy Meadows. Before leaving the jeep, make sure you tell the driver your departure time and day.
You can also arrange horse porters if you want to. They are usually used for carrying the luggage, the rate is Rs 150 / km. You can also ride the horse up for Rs 1500.
If you want to hike, that’s not a bad option too. The hiking trail is 5km, and it takes about 2-3 hrs to reach Fairy Meadows from there. It can be very hot during summer, so you must be prepared.
Best Time To Travel To Fairy Meadows
April-May and September-October can be the best time to travel to the Fairy Meadows. Also, avoid going on weekends.
This is the time when the place will see relatively fewer travelers because this is not the peak season. There are more chances that you will get to have a place for yourself if you travel during this time, although it will be colder as compared to midsummer.
Fairy Meadows is a quite popular tourist attraction, and every year it sees lots of tourists from all around the world. That being the reason it can get really busy during the peak times like midsummer and public holidays etc.
What To Pack?
Before you start with your journey, the first and foremost things to keep in mind are where you are gonna stay and what you need to pack for it. And if it includes hiking, you must be extra well prepared.
Following are the things that you will need for your hike to Fairy Meadows.
- Any regular Shoes for Hiking
- Water-Proof Jacket
- Map App
- and of course, a backpack to carry all your stuff
Place To Stay
You can either make the reservations beforehand, or you can look around to find a good place to stay.
Ranging from Houses, cottages, hotels, camps, and wooden huts, you will see a pretty fair range of options for accommodation, from which you can choose one that suits you. There is a particular name for Fairy Meadow cottages; “Pari Mehel” which translates to “Fairy Palace”.
The average cost of one room at Fairy Meadows ranges from Rs 2000 to 3000. The most expensive one is Raikot Sarai as it charges Rs 7000 for just one night’s stay.
Raikot Sarai is a camping resort. You can take a jeep from here and that can take you to Tattu village.
Beyal Camp is another good camping place, which is at a distance of a few kilometers from Fairy Meadows. You can hike to Beyal Camp from Fairy Meadows and it takes almost 3-4 hrs.
Another tourist attraction at Fairy Meadows is the Reflection Lake. The special feature of this lake is that it shows the crystal clear reflection of the majestic Nanga Parbat aka “the killer mountain” aka the “9th highest mountain in the world”.
The place is rightfully named, Fairy Meadows. This heaven on earth place attracts tourists from all around the world for its beautiful views and serenity. The journey to Fairy Meadows might be long and hectic especially since it includes a hike, but when you get there you will forget it all and just won’t want to come back. You can also visit the Feeta blog where you will find more interesting and informative blogs on tourism and various other topics.
LCBDA auctions 7 plots for Rs34.89bn
LAHORE: The Lahore Central Business Development Authority (LCBDA) auctioned seven commercial plots, titled ‘Downtown Lahore’, worth Rs34.89 billion.
The size of plots auctioned ranged from 12 and 14 Channels. The event organized was attended by international and domestic investors.
The auction jury comprised LCBDA CEO Iman Amin, Brigadier (R) Mansoor Janjua, Colonies Secretary Jamil Ahmed. Sumair Abid and Kamran Ali Rehman.
While addressing the occasion, LCBDA CEO Imran Amin informed that developers were offered a five-year installment plan.
The event aimed to promote urbanization in the provincial capital. This activity will ensure economic growth and employment generation in the area.
For news and blogs, visit Feeta.pk.
Best 5 Marla Corner House Ideas in Pakistan
In Pakistan, 5 Marla houses are a very popular and affordable choice when it comes to choosing the area for a home. This is because it is less costly than other home sizes, and not too small compared to 3 Marla houses in many cities across the country. Because of its high demand and convenience, 5 Marla houses are always the first to be bought out from entire housing schemes and societies.
5 Marla house is 125 sq. M. yards and can accommodate a family of 4 to 5 people depending on the design and architecture of the house. In this specific house size, the most popular demand is for corner houses, given that they typically come with extra land, and because of no house or building on one side, they offer better ventilation and views. If you are looking for design ideas for your Dream 5 Marla Corner House, this article by Feeta.pk has a collective list of corner houses that you can incorporate into your house design.
Considerable Factors for Choosing 5 Marla Corner House Ideas in Pakistan
When choosing front elevation and architecture for your house, remember to keep the range of your budget in mind. Certain materials, wood, and paint can cause a hike in your finances. Typically, 5 Marla Corner houses are cheaper compared to 5 Marla houses located centrally between other houses. So if you’re smart with choosing your design, you can build your dream house within your budget.
Front Elevation and Architecture of House:
Since 5 Marla Corner houses have more space for creativity in terms of interior and exterior design, you can be unique and creative according to your liking in this. The placement of windows, the balcony, the architecture of the house should be for what you want and like. Elements like corner windows, glass boundaries for balconies, and a small lawn can add a very soothing effect to your home’s overall feel and look. While deciding your designs, it is necessary to keep in view that both the interior and exterior of the house complement each other.
A Family Discussion is Due:
Well, choosing designs for your home is a family matter which you need to decide and plan together. This includes the number of bedrooms, their likings, and the design they want.
Design for 5 Marla Corner House – Option 1
5 Marla Corner houses are usually designed keeping in mind the front and side elevation that comes in plain sight. For such compact houses, it is important to spare space for a small balcony and window to keep the ventilation good. This house specifically has both, along with a careful modern design that does not include a lot of cuts, yet still comes out as a contemporary design. The detailing with different textures and color combinations in brown and gray elevate the look of the house, along with a small garage space to park your car in.
Design for 5 Marla Corner House – Option 2
This 5 marla corner house design is a double story home that touches two roads being the corner plot. The use of dark and light gray with white and wood brings out the contemporary design and architecture of the houses, along with giving them a larger look than its size. The overall style of this house is vertical given the windows and cuts and comes with a balcony that doubles as the roof of your garage. This is a common practice for 5 Marla house designs.
Design for 5 Marla Corner House – Option 3
A stylish and simplistic edge to your 5 Marla corner house gives it a rich and luxurious look, along with an openness that comes with subtle colors. Using white in small spaces is an excellent choice to enhance the exterior as well as the interior design of any house. Besides this, the overall elevation of the house is a very clean cut with a minimal design that makes up a contemporary home.
Design for 5 Marla Corner House – Option 4
Modern architecture has transformed the shape of 5 Marla corner houses with sleek designs and minimal decor that gives a simple front elevation a unique edge. The use of wooden panels and vertical lines gives the house a very symmetrical and neat finish and also makes up for the design of a house. Here we can see that the balcony has a glass boundary finish, along with the rustic wooden look that combines white, brownish gray and wood brown.
Design for 5 Marla Corner House – Option 5
This 5 Marla corner house has a unique and modern front elevation that is enhanced with the use of lighting around the house. Paneling and using different textures in the house is the new way to go, contrary to the old fashioned use of paint and gold brass around the houses. The simpler you are willing to keep a design of the front elevation, the more house will look elegant, especially for corner houses that are visible from 2 sides.
Design for 5 Marla Corner House – Option 6
Use of LED lights, brown wood panels, and white paint, a beautiful combination for your corner 5 Marla house. This beautiful house is a great option if you’re looking for a sleek yet stylish front elevation design, that comes around with the use of light gray tiles. This design is not too costly as well, as it has very neat cuts and windows that give the house a spacious look. We can also not the placement of garage, where the gate complements the house altogether.
You can choose from these modern and sleek options that will elevate the look of your 5 Marla corner house. If you’re looking for more design ideas and house plans for your 5 Marla dream house, follow our blog at Feeta.pk.
Everything you need to know about HBFC Home Loans
In Pakistan, becoming a homeowner is a dream for many. However, the country’s soaring real estate market has made it impossible for many to achieve this dream, especially for the lower- and middle-income classes. If the current trends continue, these groups would be excluded entirely from the market.
To tackle this issue, the government of Pakistan launched a home financing initiative known as the Home Building Finance Company (HBFC), with the sole purpose of providing easy-installment home loans. The company continues to help those wanting to become homeowners through its financial assistance programs.
For those that want to know more about how to avail of these loans, Feeta.pk features everything you need to know about HBFC home loans.
A little about the Company
Established in 1952, House Building Finance Company (HBFC) is the country’s only real estate financing institution. With regional offices and area branches spread all over Pakistan, the institution aims at providing financial assistance to every Pakistani struggling with housing needs.
Over the years, the company has launched several programs to provide affordable housing to the lower- and middle-income classes. Programs such as ‘Ghar Pakistan’ and ‘Ghar Aasan Flexi’ allowed millions of Pakistanis to become homeowners with minimal debt.
Currently, the company’s objective is to reduce the demand and supply gap of residential units in the country, allowing the majority of the masses to own a home.
HBFC Home Loans
Despite majorly targeting the middle- and lower-income groups in the country, HBFC home loans are also available for almost all individuals that need some sort of financial assistance in closing the deal. Currently, the company offers three types of loans to its clients.
- Purchase of House or Flat
- House Construction
- Balance Transfer
These loans have extended to livestock owners, farm owners, and non-resident Pakistanis. These flexible payment solutions aim to assist anyone in Pakistan that requires finances for their housing needs.
Who is Eligible for an HBFC home loan?
Since the program’s primary objective is to facilitate lower and middle-income groups, a strict eligibility criterion has been set. To be eligible for the ‘Ghar Pakistan Scheme’, your monthly income should be below 100,000 PKR, while the ‘Ghar Pakistan Scheme Plus’ requires a monthly income below 175,000 PKR.
Affluent individuals can also apply for a home loan through the ‘Ghar Sahulat Scheme’. However, these loans offer higher interest rates since the target audience of these loans are the lower-income groups.
Moreover, those applying for the HBFC home loans must be salaried individuals, self-employed business owners, and self-employed professionals. For verification purposes, HBFC requires a one-year bank statement, monthly utility bills, and a salary slip.
How to Apply for an HBFC Home Loan
If you are unfamiliar with the application process for an HBFC home loan, simply follow the instructions below.
- Head over to the HBFC home loans website at hbfc.com.pk.
- Click on the ‘loan inquiry form’ option. This will take you to the next webpage, where you will need to enter your details and other credentials.
- Once the inquiry form has been submitted, the company loan agent will review the application and contact you within two to three working days.
- During the screening process, you can check your loan status on the company’s website at any time.
- After an initial screening of your inquiry, you will need to submit an application with the required documents and other processing fees.
- The next step involves filing a few legal documents for financing and security purposes.
- If approved, the loan amount will immediately be disbursed as decided in the terms and conditions of the agreement.
Pakistan’s real estate market is set to exclude middle- and lower-income groups, making it impossible for them to become homeowners. HBFC home loans aim to combat this exponential increase in prices by providing low-interest home loans with easy installments. For more information, visit Feeta.pk, Pakistan’s first online real estate market.
Sheesh Mahal | Why is it a wonder?
Sheesh Mahal – The palace of the mirrors or Crystal Palace, located at Shah Burj block in the Lahore Fort’s northern-western corner, is a testimonial of extravagant art and magnificence. It was built between 1631 and 1632 during the time of Mughal Emperor Shah Jahan. The structure exhibits Shah Jahani choice and style in every aspect. Sikh Maharaja Ranjit Singh subsequently made the additional extensions. It has been a UNESCO World Heritage Site since 1981 as part of the larger Lahore Fort Complex. It is known as the “jewel in the Fort’s crown” since it is one of the 21 monuments built by successive Mughal kings inside Lahore Fort. Feeta.pk highlights the characteristics of Sheesh Mahal and explains how it is still a wonder today.
Lahore’s walled city is filled with stories of love, passion, romance, and exquisiteness. Architectural structures stand there as a testimony of magnificence and splendor. You’ll come across many stories of passion, desire, intricacy, and grandeur while wandering around the fort. The atmosphere surrounding you will be fascinated by such stories. Those who search out the secrets of the Lahore Fort will find them. Apart from being a stronghold, it was the Mughal dynasty‘s preferred residence that prompted them to build luxurious rooms for the great palace.
The elegant white marble pavilion is decorated with intricate mirror work, exquisite hard stone, and unique embellishments. The royal family and close associates had exclusive access to the hall. As you climb up the massive elephant stairs after entering Lahore fort, you will reach the renowned and spectacular Sheesh mahal. If you stand at one corner of Sheesh Mahal, which is currently located in Greater Iqbal Park, you can see the Badshahi Mosque, Maharaja Ranjeet Singh’s Samadhi, and the Minar-e-Pakistan. It’s a breathtaking panorama that shows the progression of history.
During the Sikh Empire, Ranjit Singh’s favorite spot was Shah Burj. Over the top of Sheesh Mahal, he established a harem. The significant use of white marble and hierarchical elements of the construction represents the Shah Jahani architecture.
The courtyard is accessed by the façade, which is made up of five arcaded marble rooted by paired columns. The pavilion is shaped like a semi-octagon and comprises apartments with plated pinnacles, finely adorned hard stone, and convex glass mosaics with hundreds of little mirrors. In geometric and tendril designs, stucco tracery and carved marble screens are further decorative highlights. Precious stones are embedded in the engraved dividers and bases. The central hall’s roof stands two stories high. The hall was initially covered with fresco murals, later replaced with multicolored glass mosaic.
Sheesh, Mahal was designated as a protected monument under the Antiquities Act by Pakistan’s Department of Archeology in 1975. It was registered as a UNESCO World Heritage Site in 1981 as part of the Lahore Fort Complex broader. Additional structures on top of Sheesh Mahal during Punjab’s later Sikh and British administration contributed to the dead load, making the edifice prone to collapse. And it wasn’t until 2006 that the ceiling’s faults were fully rectified, and the structure was restored.
Sheesh Mahal has been preserved entirely as a memorial to Mumtaz’s passion and love with Shah Jahan. The love story that led to the creation of this edifice is as remarkable as the structure itself. According to folklore, Mumtaz Mahal, Shah Jahan’s adored wife, wished to float in the stars as she saw in her dreams, and to make her desire come true, Shah Jahan had it built for her in Lahore. Unfortunately, she died before she could enter the palace, leaving the king saddened. Later, Shah Jahan had his soldiers build the Taj Mahal in India as a tribute to her.
Sheesh Mahal is undoubtedly a wonder even today. Any visitor entering the palace can not help but get mesmerized and awe-struck by the magnificence and beauty of the palace. The palace still tells stories and exhibits exquisiteness and love in every detail. The walls take you through history and provide an unforgettable experience. The palace reminds us of the great architects who created this magnificent edifice.
It is extremely important that we value our cultural heritage and preserve our extraordinary unique architectural marvels.
5 Ways on How to Start Preparing your Retirement Plan
Are you worried about your post-retirement days? Though you have worked hard your entire life for your family and still want your finances to be ongoing. It is a great idea to start thinking of a retirement plan and by this, you will be able to accomplish your wishes with financial independence.
A retirement plan in simple words can be defined as making preparations for your future by planning today. It is important to design a retirement plan that suits your needs. The preparation for retirement planning includes
- Deciding when will you retire
- Formulating a retirement plan
- Estimate the amount of money you will be needing
- Planning investment to earn profit from your retirement saving
- Plan about your healthcare
- Calculate your mortgage
Managing your financial plan might seem a bit crucial because it determines the source of your income and your expenses as well. This is important because it helps in formulating a retirement budget by your plan. People entering retirement age mostly don’t plan for the time when they will no longer be working. But it is very important to ponder upon it at least 25 years before your retirement age to maximize as much profit as you can.
In Pakistan, it has been seen that unfortunately, people start thinking about retirement plans after they enter their 50s. Which is very little time to prepare and execute a retirement plan.
If you want to spend your time without depending on anyone for financial assistance, whether that might be your healthcare expenses, your joy and fun activities, or your daily expenditure, here are some ideas that will help you in your post-retirement days.
Feeta.pk in this blog lists down five ways how to start preparing your retirement plan.
- Buying a commercial property
- Investing in a plot
- Opening a retirement saving account
- Buying real estate for rental income
- Purchasing lifetime insurance
Buying a Commercial Property
If you don’t want to rent out your commercial property, starting a business of your own is a big yes!
Buying a commercial property to run your business is one of the greatest ideas for your retirement plan. If you already have some experience in business this will be the cherry on top to utilize your commercial property for running your own business. The most convenient ideas for business setup include opening up a bakery, general store, or grocery shop. Other than this there are ample ideas that can work best for a business setup, which primarily are a café or a restaurant, a fitness or center, a salon, or a boutique. One of the main things that need to be kept in mind before starting a business at the commercial property is the location. Therefore it is very important to plan a business that is beneficial for you in the long run. Business is a nice idea to stay busy and earn even after your retirement, also you can always hire people for help if it’s not easy for you to work full time.
Investing in a Plot
When it comes to investing in a plot, two things can be done depending on your budget, buying a plot file or a plot
A plot file can be defined as a document that the housing societies issue before they are developed. For long-term real estate investors in Pakistan, this is considered to be one of the most popular investments. The rates of the files about the plots are increased once the possession is announced and the plot is allocated. The buyer must thoroughly check and analyze the place where they are planning to invest and if you are choosing this as a retirement plan then you will have to be very careful so that when you invest your money in a plot file, you get a long- term profit from it.
The second option is buying a plot. Once you have bought a plot, you resell it at a higher price after some time. This is considered to be the safest and most popular investment. Usually, smart investors buy plots in areas that are underdeveloped and then wait until the area is fully developed and the price of it increases.
Opening a Retirement Saving Account
If you want to start saving your money for post-retirement days, opening a saving account is one of the options. So if you are planning to start a retirement fund then open a savings account. The benefit of this will not only be saving your money but also generating profit on your deposit. In Pakistan, almost all the banks allow their clients to have this particular type of account and obtain interest periodically. These accounts are not fixed accounts and you can easily withdraw money from them at any time from your debit card, online banking service, or checkbook. This is one of the most ideal plans for your retirement. If you are self-employed or even salaried, opening a savings account is a great idea.
Buying a Real Estate for Rental Income
If real estate investment is new to you, it is better to familiarize yourself with it so that once you invest in real estate you can obtain maximum profit out of it. Not just for real estate but for any investment that you plan to do, you must start researching about it thoroughly.
If you are someone who owns more than one residential property, you can easily rent it out for your post-retirement days and fulfill your financial needs from the rent that you will get from that property. In case you don’t have more than one residential unit, you can start saving for more units as a retirement plan. Real estate for rental income is a remunerative investment option if you are planning your retirement. The reason why it is profitable is that it gives you a constant return on money that you have spent on it. It is understood that renting out your property is a bit of a hassle, but for this, if you prepare a proper agreement with the tenants and make them aware of your rights, it won’t be as difficult as it seems.
Purchasing Lifetime Insurance
If you are looking for a practical retirement plan, purchasing life insurance is the answer. In simple words, it can be described as an agreement between the insurance company and the policyholder. The company promises to pay an amount after a period once the policy has matured and in return for this, the policyholder makes payment to the company either monthly or yearly. This is a smart way of saving money for your old age.
Other than this life insurance companies also offer various benefits such as accidental disability or hospitalization. This will help you in not being worried in case of emergency about your health-related expenses.
Companies that offer Life Insurance in Pakistan
It is better to start thinking about your life insurance from an early age, for instance when you enter your late 20s start thinking about purchasing a life insurance policy.
Why is Retirement Plan Important?
It is better to realize the importance of a retirement plan before you can no longer work. Here are a few reasons why having a retirement plan is important.
- It helps in the fulfillment of one’s dream
- Ensures financial independence
- Helps you meet the needs of family members who are financially dependent on you
- Ensures that money is available upon urgent need whether that’s related to health or any other circumstance
- An increase in the average life expectancy has been noticed
- Relying only on pension is risky
Some Retirement Facts:
- Normal retirement age is between 60-65 years
- Early retirement age is 10 years before the normal retirement age
- Late retirement age is 5 years after the normal retirement age
- Members account balance will be used to purchase an annuity, on retirement
- A tax-free sum of 25% of the account balance will be received by the member upon retirement
It is never too early to start thinking about your retirement plan. In this blog, Graana.com has listed down the five most popular and beneficial ideas for your post-retirement days. It depends on you which plan you think is most suitable and can benefit you in the long term.
To have a stress-free life, you should gear up and start planning for your post-retirement days for not only a regular income but to grow your money as well. This will help you in the days when you don’t want to be dependent on anyone, your kids, or on your family and also when you can no longer work. You can adopt any of the plans mentioned in this blog for a relaxing time during your retirement days.
So, what’s your pick?
Contact Feeta.pk today for investment opportunities to earn even after your retirement.
Development of Islamabad’s Sector E-12/4 in the offing
ISLAMABAD: The development of Islamabad’s sector E-12/4 will be launched soon.
In this regard, the Capital Development Authority has invited bids to start work on the sector. The authority received offers from 5 contractors, with the lowest standing at Rs289.81 million.
As per plans, the development will include construction of roads, including main roads and service roads, installation of street lights, sewerage system with a drainage system and water supply pipelines and development of green belts and public parks.
The authority informed that the proposal of the new sector has already been submitted to the commission formed under the federal government to revise the master plan of the capital city.
For news and blogs, visit Feeta.pk.
How to Check the Federal Government Employees Housing Authority List
The government of Pakistan has launched several initiatives over the years to facilitate federal government employees. One such perquisite is the Federal Government Employees Housing Authority (FGEHA). The authority is responsible for introducing new housing schemes in the capital and allocating a quota for government employees.
However, accessing the FGEHA list can be a hassle if you’re not familiar with the procedure. To ease the process, Feeta.pk features a guide on how to check the Federal Government Employees Housing Authority list.
A little about the FGEHA
The Federal Government Employees Housing Authority was established in 2019 under the ordinance of the President of Pakistan. The objective behind creating this body was to ensure a safe and secure shelter for the lower-income groups in the capital that are currently residing in impoverished settlements or ‘katchi abadis’.
The FGEHA aims to deliver new housing units to federal employees at low and affordable costs, ensuring every employee becomes a homeowner. Currently, the authority is planning on pushing in almost five million low-cost units into the market, with federal employees being at the utmost priority for the allocation of these houses.
The government hopes that this initiative will be able to tackle the status quo in the country’s real estate market which completely excludes middle- and low-income groups, while extracting immense profits from the ones that can afford it. By pushing more units into the market, the demand for housing will decrease, allowing the skyrocketing prices to descend.
How to Check the Federal Government Employees Housing Authority List
The process for checking the FGEHA list is quite simple. Follow the instructions given below to access the list.
- Head over to the Federal Government Employees Housing Authority’s official website.
- At the top side of the webpage, you will find several drop-down menus. Select the ‘membership drive’ drop-down menu.
- The drop-down list will offer various options for different memberships. Click on your allocated membership program.
- The next webpage will have the message ‘click here to login. Click on this message and this will take you to the login page.
- Once you reach the login page, add your credentials to the specified fields. Enter your CNIC number (without dashes) and your password.
- After logging in, the details of your membership will be available on your screen.
- If you encounter any issue while logging in or if there is no information regarding your membership, you can file a complaint at ‘email@example.com’ to have the issue resolved.
- For any other issue or query regarding your membership in the program, you can visit the FGEHA office in G-10/4, Islamabad.
Pakistan’s government is known for its generous well-fare programs for its employees. The Federal Government Employees Housing Authority is one of such programs, making way for lower and middle-income employees to become homeowners in the country’s capital. The government is planning to expand the program to allow more federal employees to become part of the FGEHA list in the near future.
For more information, visit Feeta.pk Pakistan’s first online real estate market.
World Bank Estimates Capacity of Punjab’s Real Estate to Generate Rs400 Billion in Tax Revenue
In a recent report published by the World Bank, the international body has identified potential in two out of three major areas of tax revenue collection. The major areas are mainly Services Sales Tax, Urban Immovable Property Tax (UIPT), and Stamp Duty, among which the latter two are exclusively related to the real estate sector. As per the report, these two areas can collectively bring Punjab’s real estate sector to generate revenue of up to Rs400 billion if it is incorporated with the modern techniques of digital mapping.
UIPT is duly gathered by E&TD (Excise and Taxation Department), whereas the BoR is responsible for collecting the stamp duty. Improved and digitized land records assist in improving system analysis and coordination of the two main land-related tax authorities ie E&TD and BoR, in addition to implementing Stamp Duty and UIPT. Because of this integration between the two land tax authorities, Punjab real estate has shown the prospect of generating the highest revenue in tax.
As per the WB report, Punjab’s urban housing gap is expected to reach up to 11.3 million units by the year 2047. This gap is being generated by the rising population, migration of people from rural to urban areas in the country, unnamed and abandoned lands, and a decline in the existing housing stock. An estimated 2 to 2.5 million units are being constructed in Punjab under the Punjab Housing and Town Planning Agency.
Mainland records in Pakistan currently fall under the responsibility of provincial Boards of Revenues (BoRs). All Register of Deeds, Mortgages and Property Transfers are maintained here, as per person-based records, along with the facility of cadastral maps. BoRs typically stemmed from only rural records initially. With the unplanned expansion of urban areas around the city center, eventually, city centers were also included in this. For private housing agencies and cantonments, the responsibility of keeping records of plots and properties is on their end.
The World Bank reports the effect of the absence of standardized systems in keeping records of property rights in urban areas, and there are significant challenges that are keeping the revenue at par. These challenges include lengthy dispute resolutions, overlapping records of registries, inequitable taxation and lack of property rights information for authorities to perform their responsibilities. Women from urban areas face extreme marginalization in their property rights and loss of inheritance due to lack of transparency in property ownership, cultural restrictions, forceful property transfers etc.
Federal and provincial governments have come to the realization that such challenges may hinder the possibility of achieving the goals of the Naya Pakistan Housing Program of constructing about 2.5 million low-cost homes in Punjab. To resolve these issues, the World Bank has proposed an amount of $ 150 million on their behalf to develop and improvise the ‘Punjab Urban Land Systems Enhancement Project’.
This expense breaks down into four components; with $ 103 Million for cadastral maps for Land Records Management and Information Systems (LRMIS) and digitization of records, another $ 3 million for Land for Housing, to make the process of identification and evaluation easier. LRMIS proves to be extremely beneficial for keeping track of property and land rights and combining it with cadastral mapping systems such as PropSurebringing authenticity and transparency in the digitized land record systems.
Digital cadastral mapping assists in the integration of multiple registrations of a land area and designates it under a single and unique identifier. This process helps in enabling a seamless process that allows clarity and authenticity in the real estate sector
The remaining amount of about $ 35 Million is designated for the establishment of Land Information Systems to combine the rural and urban land records. The project risks environmental damage posed due to mass construction. Still, it is the solution to the current housing and land record issues in the system.
For more news and information on the latest property trends and developments, follow our blog at feeta.pk.
Commonly Used Sands For Construction
When you think of building materials, what comes to your mind?
It’s most likely stone, cement, steel bars, etc. However, one other material is fundamental to construction: sand. When mixed with other construction materials, it provides strength and adds bulk. Its tenacious properties make it vital for building materials. On Feeta.pk, you can find many informative blogs regarding construction materials, etc.
Sand has been used in construction materials for ages. It is mainly obtained from the sea, beach, river, and desert. There are many different types of sand, and each serves a different purpose. It’s crucial to know the kinds of sand because you will decide which one would be suitable for your project based on that.
Types of Commonly Used Sands For Construction
Sand is classified into different types based on its grain size, color, shape of granules, binding power, bulk, and price.
Following are the characteristics of concrete sand.
As the name suggests, concrete sand is made from crushed concrete. After crushing, the sand is filtered to remove impurities and larger fragments. It mainly consists of limestone, granite rock, and gneiss.
Its Nature and Shape
It is coarse and has relatively smaller particles than crushed stone sand. Its particles are sharp and angular in shape, making them rough and less absorbent.
After mixing it with water and cement, it is used for constructing patios, sidewalks, etc.
Other than that, some other uses of concrete sand include leveling medium, bedding pipe, and de-icing.
Following are the characteristics of Pit sand.
Pit sand is found naturally in deep pits about 2 to 3 meters underground.
Its Nature and Shape
It is also coarse sand with sharp, rough, and angular grains, enabling it to have the perfect binding properties. It is reddish-orange as it contains iron-oxide in it. It usually has zero salts in it compared to sea sand.
Due to this reason, it absorbs less moisture, hence making it more suitable for building and construction purposes. Its binding properties make the buildings rigid and stronger.
Following are the characteristics of River sand.
The other name of river sand is natural sand. It is found naturally near the streams and banks of rivers.
Shape and Size
It is white-gray and has a really fine structure. Because of its particles’ extremely fine form and softness, it is in high demand for construction works.
Mainly it is used for construction, masonry work, RCC, plastering, block works, etc. It requires less water because of the already trapped moisture in its particles.
It is cheaper than other types of sands because it is found naturally. You need to keep it in mind before using it for construction to make sure that it has less than 5% silica because it generally tends to have higher amounts of silica in it.
Manufactured Sand or M-Sand
Following are the characteristics of M-sand.
It is an artificial type of sand that is manufactured in factories. This sand is used mainly as a substitute for the fine river sand. With the rise in demand for fine quality sand, M-sand has been used more and more. One significant advantage of using this sand is that it cuts the cost of transporting the natural sand from rivers to the construction site. Hard granite goes through crushing, sieving, and washing, and then this river sand-like sand is formed.
Shape and Size
Its granules are angularly shaped, which helps in creating an excellent bonding when used in construction material.
It requires a high amount of water, but it can be compensated by using cement.
Because being manufactured artificially in the factories contains zero silt or any other forms of impurities. Besides being economical, it has fewer chances of adulteration because it’s being prepared under control conditions.
Mortar sand is also called masonry sand. It is widely used for landscaping and construction. Masonry sand is a suitable type of sand often used in construction.
Shape and Size
Because it has almost the same-sized grains, it has a smooth and fine structure.
Besides masonry work, it is also used for many other purposes, particularly for exterior finishings because of its nice appearance.
Following are the characteristics of Fill sand.
As the name tells us, fill sand is mainly used in construction work for serving. Many different sand grains are mixed with aggregate to get this sand. Particularly, fill sand is all finely crushed rock particles that have gone through the process of erosion.
It is a perfect base material for the construction of buildings because of its compaction properties. It can also be used as a backfill to stop drainage in underground concrete tanks.
No matter what type of sand you choose for your project, some things must be considered. The silt material should always be less than 3%, and there should be no traces of any kind of impurities. Also, you should analyze the sand type that you are buying and check whether it is suitable for your project or not. As sand is one of the basic materials used for construction, your carefully chosen sand type can make a difference to the structure’s strength and durability.
Building Control South announces crackdown against encroachments in Zone 4.5
CDA Building Control South Director Shafi Marwat has ordered a campaign against illegal residential and commercial construction in Zone Four and Five.
In this regard, the authority has formed two teams – with Deputy Director Javed Zehri in charge of the Zone Four team while Deputy Director Sajjad Bajwa will oversee the operation in Zone Five.
Director South Shafi Marwat has instructed the concerned teams to write a letter to the Enforcement Directorate to stop illegal constructions in the stated areas.
For news and blogs, visit Feeta.pk.
9 Things to Consider Before Investing in Real Estate in 2022
Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.
-Franklin D. Roosevelt
This quote perfectly summed up the advantages of investing in real estate and for all the right reasons. Real estate is said to be one of the most lucrative investment opportunities around the globe and, Pakistan is no exception.
In Pakistan, real estate is considered to be one of the most common and widely practiced investment opportunities. Every year, millions of people invest in real estate because of its benefits and financial rewards.
Why Should You Invest in Real Estate?
And, we will tell you why you should invest in real estate.
We have jotted down some of the pointers that will help you understand the advantages of real estate investment in depth.
Real estate is one of the best investment opportunities out there because of the following reasons:
- You get full ownership of the tangible asset.
- You can easily mitigate the risk associated with real estate by being strategic and informed about the latest real estate market trends. In short, it is easy to predict the real estate market.
- Property owners get certain tax relaxations on their property.
- Real estate comes with stability. Unlike other investment opportunities such as stocks, real estate investment is stable and prices appreciate over time.
- You have control over your investment and you do not have to rely on external sources to manage your property.
- Real estate does not get affected by severe economic conditions. In short, real estate ensures safety from inflation hedge.
- There are multiple uses of real estate. You can use it for accommodation, renting, reselling and leasing.
- Real estate faces less market volatility in terms of prices and risk.
- Real estate yield a high rate of returns.
If you are planning on investing in real estate make sure to know the pros and cons of investing in real estate and tax on property.
Things to Consider Before Investing in Real Estate in 2021
Before making any kind of investment in real estate, do consider the following factors:
- Diversified Portfolio
- Customer Base
- Safe and Secure Investment
- Research about Market Trends
- Installment Plans and Down Payments
- Money-Back Policy
1. Diversified Portfolio
In real estate, there are high chances of portfolio diversification. It means you have many opportunities to invest in. You can invest in commercial properties, residential properties, and industrial areas and vice versa. Check out factors affecting the real estate market.
It is important to know about the different real estate options and how you can use them to reap financial benefits.
For instance, residential properties can be used for accommodation, rentals and bread and breakfast services. On the other hand, commercial spaces are solely dedicated to business and commerce.
Before investing, always consider the credibility and records of the real estate company. Make sure that their product offerings are approved by local developmental authorities. Also, ask around and try to know as much as you can about the company.
Also, if they have an online presence, visit their social media accounts and read the customers’ reviews.
3. Customer Base
Try to contact the people who have been the customers of that specific company. Ask questions and try to grasp as much knowledge as you can.
Sometimes, others can provide you with valuable insights as well. So, listen carefully and try to gain as much knowledge as you can.
Also, the ratio of the customer base is crucial because it tells you about the success rate and credibility of the company. The higher the customer base, the higher is the worth of the company.
Transparency is the most important element in real estate. It ensures the validity and reliability of the company. Before financing any sort of real estate project, make sure that the operations and processes of the company are clear and transparent.
There are many real estate agencies out there that do not ensure transparency. For instance, they will not inform you about all the costs associated with the property such as maintenance costs vice versa.
5. Safe and Secure Investment
Before investing, make sure that the investment is 100% safe and secure and there are no hidden terms and conditions attached to your purchase. By safety, we mean that your money will be safe with the company and your money will not get blocked in any way possible.
A good investment is secure, gives you ROI and has high liquidity. If all these three elements are present in your investment, you are good to go.
If you are looking for transparent and secure real estate projects within major cities of Pakistan, we suggest you have a look at the following projects:
These projects are located at prime locations, making them stand out from the crowd. If you have low capital, don’t worry, because you can still invest in these lucrative projects. You can invest in these projects from 17 lacs and onwards.
The best thing about these projects is that they will provide you with annual estimate gains and a money-back policy.
The location of your investment can make all the difference. For instance, if you are investing in a shop in a commercial hub, your chances to benefit from the investment may improve by many folds. Similar is the case with residential properties. Residential properties will not only ensure a good resale value but it will also yield good rentals. Checkout invest in a shop or a house.
7. Research about Market Trends
The State Bank of Pakistan (SBP) reported that the construction and housing sector has been consistently higher than nine percent over the past decade.
It is crucial to be informed and up to date with all the latest market trends and news. It will not only allow you to make a better and more informed investment decision but it will also help you to become a risk aversive.
8. Installment Plans and Down Payments
Many real estate projects sound lucrative and attractive. However, they may come with a high price and risks. For instance, some firms have very rigid installment plans. Look for projects that offer you flexible and easy to pay installments.
Also, be clear about the down payments. Usually, if you will pay a larger down payment, you will have to pay easy and manageable installments and your number of installments will also reduce.
9. Money-Back Policy
Not all real estate firms offer a money-back policy. However, Feeta.pk Pakistan’s smartest property portal offers money-back policy.
It means that if you think your investment purchased by Graana is not making money, you can always sell it back to the company. Graana is providing real estate investment solutions. No one offers such services in Pakistan where you get a secure and transparent investment opportunity with a money-back option.
These are some of the factors that are of pivotal importance. Make sure you consider all of these before making any kind of investment.
If you want to know more about real estate like 1 marla to square feet follow real estate podcasts, real estate books, real estate youtube channels, and real estate blogs.
If you have any questions or confusion, let us know. We will be more than glad to help you out. Get to know top insurance companies in Pakistan.
None of the information published in this article should be constructed as investment advice. We strongly advise our readers to always do their due diligence before investing in any project. It is the reader’s responsibility to know the laws regarding investments in their region.
Land and Property Laws Everyone Should Know About
Land and property; two reciprocal terms
Land and property are two terms that are interchangeable and often come together. Property can be defined as a thing that is owned by a person; it can be tangible and intangible or movable or immovable. Let’s make it more simple and define it as having a legal title over something considered to be your property. Land and property together are explained as a piece of land or real estate owned by a person under legal laws.
What is the difference between movable and immovable property?
Between movable and immovable a variation is drawn in Pakistan, immovable property is defined as the things that are attached to the earth. ie buildings and land plus the benefits that are to come from land or anything that is attached to the earth but under the laws, grass, crops, and machinery embedded in or attached to the land. Considerable movable property is defined as anything that is not included in immovable property is movable property, therefore, the definition of movable property is given about immovable property.
What is the definition of land in Pakistan?
Not only Under the constitution of Pakistan 1973 but also other laws related to land, property rights are protected and have always been brought into notice. Articles under the constitution of the Islamic republic that focus on property rights are articles 23, 24, 172, and 173.
Let’s have a look at these important articles that explain land ownership in Pakistan.
Article 23 of the Constitution of Pakistan:
Under Article 23 it is stated that “every citizen shall have the right to acquire, hold and dispose of the property in any part of Pakistan, subject to the constitution and any reasonable restrictions imposed by law in the public interest.”
Article 24 of the Constitution of Pakistan:
About the acquisition of private property article 24 makes the following statement. “No property shall be compulsorily acquired or taken possession of saving for a public purpose, and save by the authority of law which provides for compensation therefore and either fixes the amount of compensation or specifies the principles on and how compensation is to be determined and given. ”
Article 172 of the Constitution of Pakistan:
In article 172, it is stated that “any property which has no rightful owner shall be located in a province, vest in the government of that province and every other case, in the federal government.”
The article simply means that firstly, minerals, land, and other valuable things that are within the continent or beyond territorial waters of Pakistan come under the ownership of the federal government, and secondly, natural gas and mineral oil that is found within the provincial territory shall be equally divided amongst the federal and the provincial government.
Article 173 of the Constitution of Pakistan:
The last article that talks about the protection of land and property laws, article 173 states “the federal and provincial government can grant, sell, dispose or mortgage any property that vests in them. These governments can purchase or acquire property. All properties acquired for the federation or of a province shall vest in the federal government or the concerned provincial government. ”
In Pakistan, the land is divided into three basic categories; private owned land, state-owned land, and village common land.
Private owners of the land have all the rights to gift, sell, exchange or even dispose of their private land to whomever or however they want but by the legal rules and regulations.
State land is also known as crown land ie Sarkaari Zameen is the land that is under the control of the government, Federal, Provincial or Local. In some cases, state land is given to the citizens under some schemes such as horse studs, cattle breeding, etc. in this scenario the land is under the control of the government but is possessed by the citizens.
Village common land termed as “Shamilat land” is the land given by the state to the owners of a village which can be used for the common purposes of the village community. Every person who is recorded as an owner of land in a village is also a joint owner in shamilat.
What is the difference between Commercial and Personal Property Law?
Commercial Property Law:
The property that is used for business purposes is termed as commercial property; besides this, it can also be termed as land that brings about profit for the owner. A lawyer who works for commercial property is likely to have clients from a wide range of areas because they are capable of dealing not only with domestic but international clients as well.
Examples of commercial property can be from a restaurant, warehouse, or building. You can easily make money / earn profit by reselling it or leasing it out.
For more details related to commercial property visit feeta.pk.
Personal Property Law:
Buying and selling of personal or residential property are defined as personal property law. It means that personal property includes one’s own house, residential unit, or any land that they own under legal terms. The lawyers who work under this law also have clients in a wide range of domestic and international just like commercial property law.
Transfer of land and property
The basic rule for transferring land or property is that it is a must according to the law that if an individual possesses a property it must be registered and verified under their name, this is important if you want to sell your property. There are several reasons for the transfer of property which can be gift deeds, inheritance, mortgage, exchange, etc.
Who is not eligible to transfer a property?
There are a few exceptions for people who are not entitled to transfer a property which includes, legally barred individuals, unstable, and under 18.
Laws of Tenants:
The law of tenants includes a few responsibilities that the tenants have to abide by. Which include
- It is important to pay the agreed amount on time. This has to be followed even if there is an ongoing dispute between the tenant and the owner.
- Be careful that you do not cause any damage to the property and if accidentally any damage is caused by you you must pay for it.
- If you are facing any problem while residing in the residence it is very important to immediately report to the owner so that the problem can be fixed.
- If there are any charges mentioned or highlighted in your agreement that you have to pay, you must abide by them, the entire time you are staying on the property.
Feeta.pk in this blog has focused on the basic land and property laws everyone should know about. Being aware of your rights and having knowledge about the laws is very important so that your rights are protected and no one can fraud or scam.
Are You Sure Are You Making A Safe Investment?
When you are spending your hard-earned money on investing, there is always this nervous feeling that makes you question whether you are making the right decision or not. To minimize any risks involved in this and make sure of the right investment, there are several measures that you can take. However, it is important to be mindful of the fact that investments do fluctuate with time, sometimes giving very high profits and sometimes even less than what you spent.
In this article, Feeta.pk is going to help you get familiar with the measures that you can take to know if the investment is genuine or not. Let’s find out how you can be sure of what you’re doing is a safe option.
Identify the Red Flags
Red flags in investment are usually pressure tactics that are used to unintentionally lure your mind to be alarmed and go for it. Let’s take the example of ‘Limited Time Offer’ or ’10 days left to get this at half price ‘will make you feel you will be left out. Trusted companies that are offering opportunities to investors always know that people will need time and will come to them on their own, instead of such offers.
Look in the ‘Right Place’
It is important to start looking for investment options at the right place. What we mean by this is to look for authentic sellers and properties which belong to a verified housing society. You can also find new options which are yet to grow and have a margin of growing rapidly in a short time, but that is still a risk if the seller and area are not coming under a genuine tag.
What you can do is talk to area property agents, and also lookup online for any new property areas that you are interested in. Feeta.pk is an authentic site for you to start looking for investment properties with. Feeta’s property agents are well-equipped with area wise knowledge to help you get an idea of what property is a safe option for you.
High Publicity Does Not Mean ‘Safe’
Generally, highly publicized projects are a great option to go with because they are luring big investors and have also developed a reputation they would not want to ruin. However, sometimes, it can also be misleading given that they might be expanding on illegal land and your money might go down the drain. You have to weigh all the sides before making a decision, for instance, hearing from other people, getting a professional agent involved, asking for legal document proof of their project being genuine.
Good and safe projects have a way of making their way around town through word of mouth, so you can evaluate your option by talking to a few people who are in the investing business.
Learn About the Company You’re Investing With
When getting your money involved, checking on the company and the team of directors/owners is a crucial step that you should always take. Look about the owner’s portfolio, any other projects they have, how they are performing, and you can even take the help of other people in learning about the company.
You can also verify the address, phone number of the company, or any reviews that might be up on the internet before getting yourself involved. If you are unable to find any proper information or come to any negative conclusions about the company, it is better to steer clear of it and look for other options.
Keep Your Timeline in Mind
There is no shortcut to becoming rich overnight, and the same goes for any investment. You can’t expect your investment to bear good profits in a matter of days, you’ll have to choose where to invest according to the timeline you want your profit back. That will help you determine the type of project you want.
So if you want good returns in a short amount of time, don’t hurry into investing just anywhere. Take your time to analyze what your options are, how the market in the areas is trending, and which area will bring you the most profit in the time frame you need it.
These simple pointers will help you land a very safe and secure investment which will help you get a good profit over some time. If you are confused about safe property investment, you can get in touch with Feeta.pk and find out the very best options of authentic properties for you.
Bids to uplift E-12/4 open: CDA
Islamabad: The Capital Development Authority (CDA) opens bids for the development of Sector E-12/4.
As per the uplift plans, work on links roads involving major highways, laying streetlamps, and constructing drainage and water systems will be carried out. The lowest bids received were worth Rs289.805 million by one of the five contractors, revealed CDA.
There had been a delay in releasing development funds for the development of Sector E-12/4. Although, the current management of the CDA is providing significant attention to each of these sectors, resulting in construction projects being initiated.
For news and blogs, visit Feeta.pk.
The Principles of Property Inheritance That You Need to Know
A legal heir is defined as an individual who is entitled to a share in the assets of a deceased person. These may include real estate properties, insurance amount, bank account holdings, stocks, bonds, shares etc. As per the inheritance laws of Pakistan, which are based on the Islamic Sharia law, the legal heirs of the deceased can only include the spouse, parents or children.
Graana has compiled the key highlights of the process, laws and rights of succession in Pakistan to help you navigate through what is otherwise a convoluted affair.
The purpose of a legal heir certificate
Once the death certificate of the deceased has been obtained, only the successors are eligible to apply for a legal heir certificate. The legal heir certificate is a document required for recognizing the legal heirs of a deceased person. It can be used for the following purposes:
- For claiming insurance
- For processing the family pension of the deceased employee
- To receive two such as provident fund, gratuity etc. from the government
- To receive salary arrears of the deceased
The purpose of a succession certificate and how to obtain it
On the other hand, a succession certificate is issued to transfer both movable and immovable properties of the deceased to his / her legal heirs. The letter of administration grants the right to administer the estate of a deceased person.
Any one of the legal heirs can apply for a succession certificate. The Succession Act 1925 governs all the procedures related to succession certificates in Pakistan. In case of multiple legal heirs, each party can apply for the succession certificate individually and the court can issue it to them according to their share in the property. Another alternative is that all legal heirs can file a joint application in favor of one legal heir who can distribute the property among other heirs afterward.
The Government of Pakistan also introduced a secure online portal in 2021 that provides letters of administration and succession certificates within 15 days, as opposed to the previous timeframe of 2-7 years. This was developed by the Succession Facilitation Units of the National Database Restoration Authority (NADRA) with the aim of removing any unnecessary delays and hassle during the process.
This is especially an advantage for overseas Pakistanis, who would not be required to make an appearance at courts anymore to receive the succession certificate.
The digital certificate has several security features, including a real-time verification facility. The process to obtain it can be completed in just a few, simple steps:
- Initiating the application:
The successor has to provide his / her national identity number and the death certificate of the deceased.
- Recognizing the legal heirs and assets:
The applicant has to give relevant details of the legal heir (s) along with information related to the deceased’s moveable and immovable properties.
- Verifying the legal heirs:
All the legal heirs mentioned in the application have to visit Nadra’s registration center for biometric verification.
NADRA will publish a notice in newspapers to ensure there is no one who has any objections against that particular application.
- Printing & delivery:
If no opposition comes forward within 14 days of publication, the letter of administration/succession certificate will be issued to the applicant.
It is important to note, however, that each province has its own conditions for which documents are necessary for initiating the succession certificate procedure.
Laws of inheritance in Pakistan
There are two laws that protect the rights of inheritance in Pakistan:
- The Muslim Family Laws Ordinance (1961), gives effect to certain recommendations of the commission on marriage and family laws.
- The West Pakistan Muslim Personal Law (1962), consolidates and amends the provisions of the application of Muslim Personal Law (Shariat).
A few additional things to note are:
- There is no inheritance tax in Pakistan.
- The last domicile of the deceased also dictates the division of inherited property.
- If the deceased gifted a property to another party in their lifetime, it cannot be contested in court after their death.
- Legal heirs can only distribute properties if the outstanding debts of the deceased have been settled.
- If a legal heir passes away before the distribution of inheritance, their share will be divided among the other heirs.
- It is highly advised to hire a lawyer for the distribution of inherited property.
Women’s rights of inheritance in Pakistan
There are many cases where female heirs, especially in Pakistan’s rural areas, lose out on their share of inheritance in favor of male family members. This is mostly due to their lack of awareness of women’s legal property rights. The Enforcement of Women’s Property Rights Bill was passed in 2020 to ensure their rightful inheritance.
According to Section 498A of the Prevention of Anti-Women Practices Act (2011), it has also been termed illegal to deprive women of their inheritance in any manner. Any violation of this act will be punished with imprisonment of 5-10 years or with a fine of Rs. 1 million or both.
The inheritance rights of women have been outlined below:
- The wife of the deceased will receive 1 / 8th of the inherited property if she has children. If she does not have any children, she will own 1 / 4th.
- The mother of the deceased will 1 / 6th of her son’s property. If the deceased had no parents or children though, the mother will receive 2 / 3rd.
- If a female has one or more brothers, she will receive half of their share after their father’s death.
These can still vary in cases of special circumstances.
For more details on property inheritance, visit Feeta.pk.
Real estate terms you need to know about
Working in real estate involves having excellent communication skills. A big part of learning about real estate comes from having a deep understanding of real estate basics and terms.
As a real estate investor, you will likely spend most of your time addressing real estate-related questions from home buyers and sellers. After all, the job is to guide customers through a complex process that revolves around what is probably the biggest purchase of their lives.
Even if he is already familiar with most of the real estate terminology, brushing up on some of the basics is helpful from time to time and is a great way to improve his skills and knowledge. To help you, we’ve put together this glossary of real estate terms you need to know about.
A seller’s real estate agent is a professional who exclusively represents the seller of a property during a real estate transaction.
They assist the seller by performing specific tasks, such as collecting data and comparable home sales prices, marketing the property, and advising clients on choosing the best offer received for the property.
As the name implies, a buyer’s agent is a real estate agent who is legally licensed to assist buyers during the home buying process. They represent the interests of the buyer exclusively during a real estate transaction.
Some of your responsibilities include negotiating the best possible price for a home, providing information about the neighborhood and its surroundings, ensuring the home is inspected and conducting due diligence.
A real estate appraisal is a process designed to develop an accurate opinion of the real estate value. In a real estate transaction, a lender often requires an appraisal by a third party to ensure that the amount requested for the loan reflects the property’s fair market value.
When the appraised value of a home is less than that offered by the buyer, the lender may ask the buyer to cover the difference in cost.
Lessee and Lessor
Commonly known as a lessor, the lessor is the owner and operator of an investment property. They rent their unit (s) to tenants or tenants. If you want to start your career as a real estate agent, you can work with tenants looking for a lease.
Landlords who operate large-scale properties, such as apartment buildings with a dozen or more units often work with leasing agents to fill their units throughout the year. Some represent their listings themselves, but these owners usually hire agents (or teams of agents) to fill available vacancies.
Appendix and amendment
⁇During a transaction, a home buyer or seller may want to make a request to each other in the form of a supplement or amendment. Sometimes this is a change to an existing contract (an amendment).
An amendment to a living agreement is often made when there is a mistake. An addendum could occur, for example, if a buyer wanted to keep a seller’s washer and dryer, thus requiring new contract language. Other times, they want to add to the contract (an appendix).
Amortisation is the term used for the schedule of mortgage installment payments over some time. A typical buyer’s repayment schedule is one payment per month for 15 or 30 years in real estate.
A homeowners association or HOA is a private organization within a planned community, subdivision, or condominium tasked with creating and enforcing rules for the houses in the community and its residents. Those who purchase property within the jurisdiction of an HOA are automatically included as members and must pay HOA fees or dues.
A pre-approved home buyer means that a lender has verified their information, verified their credit, and approved for a specific loan amount for up to 90 days. The process requires buyers to fill out an application to allow a lender to examine their current financial situation, including creditworthiness, debt-to-income ratio, and ability to pay.
The part of the property officially owned by an individual is known as real estate. Although a person owns a property that he has purchased, the mortgage lender has an interest in it until it is paid in full.
Closing is the final step in the home buying and selling process, and it’s one of the most important real estate terms you should know. The buyer and seller agree on the closing date during the negotiation phase and is generally set weeks after the offer is accepted.
At closing, ownership of the property is officially transferred from the seller to the buyer, and all necessary payments are made, after which the buyer can move in or begin renovating the property.
Homebuyers and sellers incur expenses to finalize a real estate transaction are known as closing costs. These can include appraisal fees, taxes, loan origination fees, credit reporting fees, title insurance, etc. In most situations, the buyer generally pays 2% to 5% of the home’s purchase price, although closing costs can be paid by either the buyer or the seller.
A seller’s disclosure is a document issued by the seller of a home to a buyer. It describes any existing problems with the property and other important details that buyers should know regarding the house. It typically includes home repairs, details about faulty systems or appliances, and history of leaks and other environmental issues.
Title deed and property title
Deed and title are two terms that are often used interchangeably. But although they are closely related, there is a difference between them. The title is a concept and not a physical document. It represents legal ownership of the home and all rights transferred from the seller to the buyer. On the other hand, the deed is a physical and legal document that conveys the title to the new owner after a home is sold. It includes a property description and identifies the dealer (buyer) and grantor (seller) of a specific transaction.
Trust is a step in the home buying or selling process when a neutral third party has something of value (often the buyer’s surety check) during a real estate transaction. Once the transaction is completed during the closing period, the third party will release the funds held during the escrow.
A fixed-rate mortgage comes with an interest rate that remains the same for the life of the loan, giving the borrower more predictability and stability for the life of their loan. It is one of the most common types of loans available and is preferred by many consumers due to its long-term reliability.
Adjustable-rate mortgages have interest rates that change periodically. A home buyer with an adjustable-rate mortgage may start with lower monthly payments than a fixed-rate mortgage, but varying interest rates mean that monthly payments can increase later.
A home inspection is a non-invasive examination of the condition of a home and is often performed in connection with the sale of that home. These are typically performed by a professional home inspector who has the proper training and certifications to handle the inspection.
After the inspection, the inspector provides the client with a written report of the findings, which the client can use to make informed decisions regarding the pending purchase of the property.
A listing is a written agreement, contract, or arrangement for the marketing and sale of real estate through a real estate broker or agent for a specified period. It gives an agent the exclusive authority to handle the sale of the property in exchange for a fee or commission for the services of the property.
In the real estate business, home buyers must offer Houses For Rent In Karachi
Houses For Rent in Bath Island is the property they want to buy. An offer can be for the total list price of the home or what the buyer and agent consider fair market value for the home. Buyer’s agents are responsible for submitting the formal offer in writing before sending it to the seller’s agent. If the seller chooses not to make a counteroffer, he can immediately approve the request, making it a purchase contract.
Homeowner’s title insurance
Due to various possible “defects” in the title, title insurance is insured by both home buyers and their lenders. This insurance covers them if another party claims a residence, there are problems related to counterfeiting or fraud against a landlord or difficulties related to deeds arise. As described in an Inman News article, it is pretty rare for a title insurance claim to be made, but it can happen. That makes this insurance protection essential, as it can provide new homeowners with peace of mind. You can read the following article with detailed information about Homeowner’s Title Insurance.
So, these are some of the terms you need to know. These terms will not only help you with your dealings but also broaden the horizons of your knowledge. Give these terms a read and give your feedback in the comments section below.
Places to Find Offices in Islamabad
The federal capital of the country – Islamabad is known for its picturesque localities and awe-inspiring scenery. However, natural beauty is not the only thing the city is known for, as it also serves as a major economic hub for the country. The city’s GDP in the previous fiscal year amounted to almost $ 2.86 billion, showcasing the city’s immense potential for entrepreneurship.
Being one of the safest cities in the country, Islamabad attracts millions in terms of real estate investment every year as businessmen and entrepreneurs flock to the city for a successful business. However, before starting a business in the city, the first step is finding a suitable office space that reflects your businesses’ values and ideals. To help you find the right office space, we shall provide an in-depth analysis of the best places to find offices in Islamabad.
What Makes an Office Space Good?
Finding an office space is a simple task; however, the actual predicament is finding one that offers all the essentials required to turn it into a functioning business. Some may lack basic facilities, while others may ask for exorbitant prices. Finding the right balance between simplicity and luxury is key. The following are some of the must-have features for any good office space.
Structurally Sound – An office building should be structurally sound as office spaces tend to accommodate a large number of people, along with the inventory. Ensuring that the building is well-built and offers safety in terms of structure is of utmost importance.
Utilities – An office space should have functional amenities such as a water supply, central heating system, working elevators, restrooms, parking areas, and emergency alarms. An office space without these services will only bring dissatisfaction and discomfort among employees.
Security – An office space should be located in a secure environment where employees feel safe while working. Moreover, the office itself should have security systems such as CCTV cameras and smart locks to ensure important data and hardware remain safe.
Best Places for Offices in Islamabad
The city is not short of excellent office spaces. However, to find an office for rent in Islamabad, the key is looking for office spaces in the city’s largest commercial hubs, as these areas already have an abundance of commercial properties available. There are several business hubs already present while a few more are still underway. With such a wide variety of corporate offices available, we have listed down some of the best areas to help you make the right decision.
The city’s largest business district – Blue Area is a 5-kilometer strip located in the center of the city, housing all sorts of businesses ranging from corporate offices and hospitals to restaurants and cafes. The business hub is said to be a major contributor to Islamabad’s overall GDP. Several prominent towers such as Centaurus, Saudi-Pak Tower, Telecom Tower, and Islamabad Stock Exchange define the skyline in the area.
Finding an office in Blue Area is sure to bring success to your business since the whole area generates immense traction throughout the day. The area offers several services which benefit offices extensively. Several Metro Bus stations run across Blue Area, with Stock Exchange, PIMS, and 7th Avenue Metro Bus stations directly in the middle of the business enclave. This provides workers with decent public transportation options, easing their work commute. Moreover, a food street runs right through Blue Area, offering an area for relaxation during lunch hours.
With the city catching up to innovative ideas, several coworking spaces are also available in the business enclave. A co-working space is perfect for new start-ups and freelance workers that require an office space but cannot afford to rent a whole office.
Blue Area has seen continuous development, with new office buildings underway and old ones being renovated, making the possibilities of finding an excellent office space endless. As the New Blue Area is under construction, ample opportunities for finding offices for sale in Islamabad are available, meaning you can choose the right office space for your business based on your needs and capital with ease.
Defined by luxury and elegance – DHA Islamabad is one of the most upscale localities, well-known for its serene environment and extensive commercial activities. The housing scheme is home to several commercial projects such as the Giga Mall and Florence Gallery.
DHA is divided into several phases, and phases 1 and 2 are the most popular ones in terms of commercial activity. The Central Park in Phase 2 is dotted with several restaurants and cafes while the surrounding area hosts other types of commercial activities.
Due to society’s immensely developed infrastructure, businesses attract millions in terms of investment allowing them to flourish with ease. Moreover, DHA’s ideal location on Islamabad Expressway gives it an edge as it connects the society with the rest of the city. The area offers several types of corporate office spaces that you can avail of based on your needs and capital, ranging from high-rise buildings to megamalls. With an office space in a locality such as DHA, your business is sure to be a success.
Bahria Town Islamabad
One of the oldest gated communities – Bahria Town Islamabad serves as an embodiment of luxury living in the city. The housing society is known for its upscale living standards and high-end amenities. However, along with these profuse services, Bahria Town offers a thriving business district where businesses reach new heights. A few prominent commercial projects that are currently underway are the Mall of Islamabad and V8 Mall, set to redefine the business district of the society.
With an ideal location on the Islamabad Expressway, the society is easily accessible by residents in other parts of the city. Moreover, several public transport options are also available on this route that makes commuting easier for workers.
The society’s designated commercial areas offer luxury office spaces that are lain with intricate interiors and contemporary infrastructure, truly befitting for your business. Most of the corporate offices Islamabad offered in Bahria Town are situated in high-rise buildings and business plazas that are dotted throughout the society’s designated commercial areas. With an office in such an extravagant locality, your business is sure to boom.
A city within a city – Gulberg Islamabad is one of the most sought-after projects, constantly setting the benchmark for comfortable living. With its serene environment and opulence-filled services, the society has much to offer, and its business district is set to become one of the city’s greatest economic hubs.
With recent infrastructure developments and the completion of the Gulberg underpass on the Islamabad Expressway, accessing the locality has now become easier than ever. The society is further divided into Gulberg Residencia and Gulberg Greens, both providing designated commercial areas dotted with several corporate offices.
Several commercial projects are situated in the society while more are underway such as Mall of Gulberg Islamabad, The Magnus Mall, and Gulberg Arena Mall. These projects feature commercial properties and offices for rent in Islamabad. Office spaces in these commercial projects are sure to make your business flourish.
How to Find and Book Offices
Now that you know the best places to find office spaces in the capital, the next step is knowing how to find these offices and book them for your business. To ease your predicament, Pakistan’s first online real estate market – Graana.com is here. Through the Graana App, you can look through several commercial properties in Islamabad and find the perfect match for your business. For more information, visit Feeta.pk.
Warm & Chocolatey Home Interior with Silky Smooth Style
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Chocolate walnut wall panels wrap this welcoming modern home interior with a silky smooth style. Displayed by ArtPartner Architects, this home feels like a protective cocoon that protects its homeowners from the stresses of the outside world. The abundance of rich wood grain on the walls builds a calm and soothing solidity, the weight of which is offset by light, glassy wall counterparts. Gray elements balance the warm brown decorative pieces, building a tonal contrast and shade. Sharp contemporary furniture designs form complex arrangements in the living room, bedroom and bathrooms. Promenade glass cabinets offer enviable storage solutions that elegantly display the owner’s sensible love of fashion.
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A Concrete Home Design That’s Skillfully Secluded From The City
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A vast water feature flows through Preston Hollow House, where it washes the boundaries between inside and outside. The slender stream flows through the home, interrupted only by terrace walkways and a soothing waterfall near the entrance, before ending at a large swimming pool. Designed by Specht Architects, this 8826 square foot home in Dallas, USA, also features a remarkable floating pavilion roof design. The flat canopy seems to rise slightly above the main living spaces and peripheral terraces. Corrugated concrete walls solidly shield the apartment from the busy street, making nearby houses imperceptible. Sliding glass panels create open, light-filled rooms with wide views of plant-filled courtyards.
Platner armchairsdesigned by Warren Platner for Knoll, and a matching side table make up an elegant reading night.
Retractable walls connect a kitchen and dining room with spacious multi-level terraces that are navigated by wide concrete steps. An outdoor dining area presents an invitation to relaxing refreshing lunches in the sunshine, while a fire pit awaits cool evenings of conversation and laughter with friends. An outdoor ping pong table encourages playtime for the children and adults.
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Carving Out Luxury Interiors With Stone And Wood Decor
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Smooth decorative elements made of wood and stone are made to exude a luxurious look in these two inspiring home designs. To allow these soothing natural materials to come to the forefront, the home designs follow a light and laconic color palette of clear white and warm creamy shades. A wild spice of black and charcoal gray accents will pepper the rooms with small moments of visual weight. Luxurious lounges receive refined and airy arrangements with designer lounge furniture, eye-catching TV walls and high-end dining options. Kitchens are avant-garde, bedrooms are restful refuges of peace and quiet, and bathrooms evoke a spa-like feel.
Kurbace Pacha chairs, designed by Pierre Paulin for Gubi, softly contrast the hard silhouette of the stone coffee table and the linear modern sofa.
Next to the fireplace, designer lounge chair and a Sampei a floor lamp, designed by Davide Groppi and Enzo Calabrese, makes for a comfortable read.
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Forming Serene Living Spaces With Natural Wood & Indoor Plants
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Natural wood and indoor plants instill a sense of serenity into modern living spaces. This inspiring union of Mother Nature helps us to separate ourselves a little from the plastic contemporary world and to revitalize our connection with the Earth. Even if only in small doses, green and wood tone infusions add softness to modern decorating patterns, as well as an interesting texture and vibrant reminiscence of life thriving outside man-made walls. Join us as we tour three inspiring modern home interiors that beautifully embody plants and lumber into elegant living rooms, dining rooms, kitchens and perhaps the most beautiful laundry room in the world!
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How To Use Japandi Decor To Create Calming Interiors
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Fill your home and your heart with the soothing effects of the tranquil Japandi aesthetic, an aspect that is elegantly understated, yet carries a confident undercurrent. These four inspiring Japandi-style interiors show how to create soothing Japandi decorating schemes in modern living rooms, elegant kitchens, relaxed bedrooms and chic bathrooms. The soft mix of Scandinavian with Japanese decoration forms a warm welcome without any wavering colors and simple arrangements that quietly serve daily routines. Home design number one delights in natural wood tone and botany, home interior two cuts a little sharper with bolder contours and contrast. The third home tour is minimalist and smooth, while our final design focuses on a sophisticated wow factor.
More Mother Nature kisses are put on the dining room. The Japanese-style paper lantern is the Formakami JH5 Pendant by Jaime Hayón for & Tradition.
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Interiors Inspiration With Five Beautiful Boho Variations
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Bohemian interiors all have in common, but there are many different ways in which to individually perfect the aesthetics. This inspiring collection of beautiful boho interiors shows five divergent captures of the atmosphere. Our first boho variety is a rich umbra cocoon with thick textures, tribal influences and decorative features that are inspired by the bow trend. Home design number two is a refined modern space with green botanical accents. Rustic romance forms a boho interior number three, with a particularly dreamy bedroom. Mid-century influences lightly taste home number four, and our final stop is an impressive, high-ceilinged apartment with decidedly luxurious bohemian décor, upscale furniture and a stunning fireplace.
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FBR Amnesty for Real Estate Investment
Available Options under Amnesty
Those who are owners or buyers of a building, or own a unit in a building, may avail themselves of the current amnesty in respect of the purchase price of a building or unit under the following conditions:
For New Projects registered with FBR under Section 100D of the Income Tax Ordinance, 2001:
A person wishing to take advantage of the amnesty must make a full payment through the banking channel (cross-bank instrument only) for the projects registered with FBR from the initial date of the project until 31.st March 2023.
For Existing Projects affiliated with FBR under Section 100D of the Income Tax Ordinance, 2001
For existing projects registered with FBR, full or balanced payment must be paid through the banking channel (Cross Bank instrument only) from the initial registration date until 31.st March 2023.
Prior to taking advantage of the amnesty, FBR made it mandatory for the buyer to register with the regulatory authority. The registration process is as follows:
- Log in to FBR’s IRIS portal
- Click the registration tab and select the buyer’s option. A registration form will appear.
- At the far right, click on the ‘+’ icon and an information box will appear on the screen.
- Enter the details of an Existing / New project including the name and NTN of the project
- Enter the purchase price, transfer date and location
- Again, click the ‘+’ sign in the far right
- Next, enter the details related to the payment instrument
- Click ‘Next’ and do not enter any data. Continue by clicking ‘Next’.
- In the next step, an add-on tab will open and click on the ‘+’ sign.
- Attach all relevant documents (FBR rates of the relevant area, Map Approval, Delivery / Agreement for Sale)
- Click Finish
- Go to Control Tab, enter PIN and confirm.
- Click ‘Submit’ and the registration process will be complete.
- According to the FBR, money invested and derived from the commission of criminal offenses including Terrible Finance, Money Laundering, and Blackmail will lead to the buyer’s disqualification from utilizing the amnesty scheme.
- However, money not derived from the commission of criminal offenses, and not declared under the Income Tax Ordinance, 2001 may be invested, is exempt and enjoys immunity from Section 111.
Things You Need to Know About Mortgage Housing in Pakistan
Pakistan has been one of the most difficult countries to secure a home loan. Very few banks offer and eagerly market mortgages, and those that do often have tedious and daunting conditions. As a result, home mortgages in Pakistan have historically been as low as the equivalent of just 0.3 percent of the country’s total gross domestic product (GDP).
However, this figure has started to improve gradually due to the initiatives of the ruling government aimed at moderating the access of Pakistanis to home ownership. The government of Pakistan has launched an ambitious push to build 5 million affordable homes under the Naya Pakistan Housing Scheme and consequently relaxed various bank rules governing mortgages, making it more convenient for poor families to secure home loans.
What is a mortgage?
The term mortgage originates from the financial system of lending. It is a typical loan that is used to buy or keep a home, land or other types of real estate. In mortgage financing, the borrower unconditionally agrees to pay the lender over time, normally in a series of consequential payments that are secured to form a figure higher than the original amount of the loan. The property itself serves as collateral to secure the loan.
A borrower must apply for a mortgage loan through one of the trusted lenders, ensuring that the necessary conditions and requirements are fully met including minimum credit scores and down payments. Mortgage applications are passed through a rigorous insurance and review process before they are approved. La types of mortgage loans vary according to the needs of the borrower, for example, conventional and variable loans. However, in countries like Pakistan, mortgage financing is restructured in the light of various principles in line with the banking system and economic dynamics of the country.
How mortgages work
Individuals and businesses around the world are using the mortgage finance model for to buy real estate without having to pay the full purchase price in advance. The borrower repays the obtained mortgage loan with an additional amount for a defined period of time in a series of regular payments until they to own the property free, clear and by all legal means. Mortgages are also known as property claims or foreclosures against the property. If the borrower fails to pay or fails to pay the mortgage, the lender has the right to foreclose on the property.
The Mortgage Process: How to Apply for a Mortgage?
Home mortgage lenders begin the process by submitting an official application to one or more mortgage lenders. The lender requests proof that the borrower is quite capable of repaying the loan. This index may include bank statements, the most recent tax returns, and proof of current employment. The lender will also do a mandatory credit check.
If your required credentials are complete in all respects, and therefore acceptable, the application is approved. The lender will proceed by offering the required amount of loan at a certain interest rate. However, the fixed interest rate is a reason why many people in Muslim countries strongly oppose the acquisition of bank loans. Alternatives to interest, like other financial models, still lead to convincing people.
If the question in your mind is how I am pre-approved for a home loan, then the answer is simple. Homeowners can also choose to apply for a mortgage after choosing the property they are looking to buy or while they are still. in the hunt for the right property, this process is known as pre-approval. Being pre-approved for a mortgage can enable buyers to keep a margin in a demand-sensitive housing market where sellers need a full guarantee whether the buyer will have the money to back up their offer.
Once a buyer and seller agree on the terms of their property, they or theirs real estate agents meet at what is called closing. This is the meeting where the down payment is made by the homebuyer or on his behalf to the lender. Once the down payment has been received, the contract stating all the terms is signed and the seller agrees to transfer ownership of the property to the buyer and receive the mutually agreed amount of money. Therefore, the buyer signs any other mortgage documents as needed.
Purposes and types of mortgage loan
A mortgage loan is obtained by borrowers for multiple purposes; however, all of the mortgage loan applications fall within the real estate sector. These loans serve as an aid to buying property. Some of the most common mortgage types and types include:
New home construction
This type of mortgage loan is extended to people who already own a piece of land and need financial support to cover the cost of building a mortgage. house on that earth. The disbursement of this type of mortgage is made in installments during the construction phase by appraisal of the Invoice Amounts (BOQs) submitted by the mortgage applicant duly audited by an approved appraisal agency authorized by the bank.
Purchase of land and construction
This form of loan is given to the customers who are looking for to buy land with the aim of building a house on that land. The disbursement of a certain amount of this loan is made on the purchase of the plot by the customer, and then the rest of the amount is released in installments during the construction phase by estimating the Invoice Amounts (BOQs) submitted by the mortgage applicant. duly audited by an approved rating agency authorized by the bank.
As its name suggests, this type of mortgage loan is obtained for buying a house that is already built. This can either be a pre-owned house or in the other case a newly built one.
This mortgage loan is extended to those who already own the home ownership, and needs funding for renovation. The disbursement of this loan is made in two installments after the borrower has provided BOQs duly audited and authenticated by an approved rating agency authorized by the bank.
Home mortgage in Pakistan
A recent study by the Pakistan Housing Finance revealed the fact that there is a healthy demand for a home mortgage loan in pakistan driven by the upper-middle class families in various cities of the country. The report studied 26 Pakistani cities and found that with the right products, systems, financing and less stringent conditions, lenders could possibly have around 500,000 new borrowers. The study set the probative value of the mortgage market at about $ 4 billion with growing inflows into the country’s financial system driven by favorable government incentives.
Various institutions in Pakistan offer mortgage loans. If you are wondering how to apply for a mortgage loan, all you have to do is trust the information on this blog and visit any of the banks that offer mortgage loan in Pakistan. Some reliable banks that offer decent mortgage products with unbiased terms are Bank Al-Habib, National Bank of Pakistan, Standard Chartered, Askari Bank and more. Some other forums where you can get reliable information about mortgage loan in Pakistan include:
Pakistan Mortgage Refinancing Company (PMRC)
PMRC is a Mortgage Liquidation Facility established by the State Bank of Pakistan to address the long-term financing limit in the banking sector and to promote housing finance to the fullest. PMRC serves as an assured source of long-term funding at competitive rates. You can visit the PMRC website to learn more about mortgage financing.
Home Construction Finance Company (HBFC)
Established in 1952, HBFC is the only housing finance institution in Pakistan set up by the Government of Pakistan. Its services are focused on providing funding for the housing needs of lower and middle income citizens. HBFC serves through its deep-rooted and national footprint of 51 Branches serving citizens across the country.
Real estate mortgage loan in Pakistan has never been a popular choice historically. This is because Islam strongly prohibits both borrowing and lending money in exchange for interest, which means that borrowers end up paying a much higher amount against the figure actually acquired. Therefore, the majority of Muslims prefer to avoid typical mortgages when buying property. Instead, they go for alternatives like rent or rented houses.
However, in recent times, with government initiatives and incentives aimed at helping the lower middle class buy a home of their own, we have seen a significant increase in the number of mortgage loans obtained during the ongoing financial year.