Lahoris are ready for apartment living – if only the real estate agents would let them do it
In a speech to parliament in 2016, current prime minister and then opposition member Imran Khan defended his possession of an apartment in London. This was the height of the Panamanian newspapers, and discussed were the different apartments and flats that then had or did not own Prime Minister Nawaz Sharif. During the speech, Imran Khan mentioned an anecdote in which, when he bought his own London apartment in the 1990s, he told Mian Nawaz about it at a social gathering. Curious about this, Mian Nawaz asked what a marquee was, and Khan diligently explained that it was the top floor of a building. To this, Mian Nawaz quite seriously asked what Imran Khan would do if a tornado occurred and the upper apartment was blown up in it.
The little story got bipartisan laughter from the house, but what it also did was say something about the Lahori obsession with land ownership, and the resulting reluctance to housing and vertical growth. Karachi is still the largest city in Pakistan, but by some means, the larger metropolitan area of Lahore can now be almost equal in size, if not already a bit larger. However, for most of its history, the residents of Lahore have avoided the notion of vertical expansion of the size of their city, making it difficult to find housing in the city.
This was largely attributed to the “Punjabi mindset” of wanting to own the land under your feet. And while that has been a seemingly reasonable cultural explanation for a long time, another explanation is that so far Lahoris has probably never needed to depend on housing. With a smaller population and no need for mass labor, Lahore was a metropolis that mostly kept in its residential areas either cramped but flat enclaves or large suburban living conditions in its more posh places. But as the city expands rapidly, Lahoris will have to get used to housing.
However, in recent years there has been a movement towards this, and several real estate developers are investing in the construction of residential houses in the city. And indeed, some of them have become quite advanced: it is now possible to buy a $ 1 million apartment in Lahore, at least as much as listed prices on Feeta.pk. And although all of this sounds very promising, there are major setbacks due to how the regulation of apartment buildings in Lahore works.
The most famous Dams in Pakistan
Dams are mostly built across flowing waterways to regulate flood control, produce hydroelectricity, and absorb food, and power from the locals. Most barrages lead to the establishment of silent lakes with some 150 dams in Pakistan, much of which in Punjab and Khyber Pakhtunkhwa, where the Indus River and streams run all throughout mountains south to the Arabian Sea. So there is no shortage of barrages.
Dams highlight potential lakes, which have become popular recreational locations for residents, with several parents having picnics by the lake and engaging in water sports mostly on the lake’s surface. Today, we’ll look for some of the most well-known dams that were erected in Pakistan so over years, and also the recreational opportunities they can provide residents.
Here is a list of famous dams in Pakistan
The construction of the Tarbela Dam began in 1968 but was finished in 1976. Tarbela Dam is among Pakistan’s largest dams. And also has the distinction of becoming the largest global earth-filled dam. With such a height of 143.26 meters and a length of 2,743.2 meters, it built this amazing dam on the Indus River. The dam has a storage capacity of 13.69 cubic kilometers.
The dam was built mainly for the reasons of producing hydroelectricity and irrigation. For energy production, the Tarbela Dam has a capacity of 4888 Megawatts. This is Pakistan’s largest hydroelectric dam, producing about 70% of the total electricity generation. One of Pakistan’s largest hydroelectric dams is the Tarbela Dam. Islamabad, Pakistan’s capital, is only a two-hour drive from Tarbela Dam. Tarbela Dam is among Pakistan’s best-known dams, and locals consider it to be the best picnic spot in the country. Swimming, boating, and fishing also are activities all that engage in.
Mangla Dam is currently the second dam. It is in Azad Jammu and Kashmir’s Mirpur District. The Mangla Dam project began in 1961 and was finished in 1967. It is indeed far more than a supply of energy. This one has a significant part in the Indus Waters Basement Treaty, a bilateral arrangement between Pakistan and India. With such a height of 147 meters and a length of 3140 meters, the bridge was built on the Jhelum River. This has a 7.39 million acre-foot water holding capacity (M.A.F).
This dam was initially constructed to pump energy, but then it was later upgraded to provide hydropower electricity. It has an electricity generation capacity of 1,150 megawatts. Mangla Structure was constructed on Mangla Lake, which is about a 2-hour drive from Islamabad and a 4-hour drive from Lahore. Mangla Dam is among the most popular picnic spots within the area. Fishing, swimming, rowing, boating, and jet skiing are some activities it participates in. Mangla Dam is considered one of Pakistan’s largest hydroelectric dams.
Mirani Dam is located in Balochistan, upon on Dasht River, toward the south of the Central Makran Range. The development of the Mirani Dam began in 2002 and was finished in July 2006. The dam was built to give water to the cities of Gwadar port and Turbat. It has a height of 127 feet and a length of 3,080 feet. It has a water storage capacity of 302,000 acre-feet. Mirani Dam is one of Balochistan’s largest dams. In Balochistan, there are nearly 29 dams, however, Mirani Dam is among the most well-known.
Warsak Dam, a water reservoir constructed on the Kabul River, may well be reached by driving 20 kilometers beyond Peshawar. The structure was constructed in 2 stages, one of which was completed in 1960 and the second of which was completed in the 1980s, with additional electricity-generating abilities. This boosts the dam’s total size by about 240 megawatts, with intentions to expand it to 525 megawatts in the future. Locals visit the spot for boating and fishing excursions, and there is a motel on-site for overnight stays. However, you first must get authorization from WAPDA before visiting the region.
Hub Dam is 56 kilometers from Karachi and sits on the Sindh-Balochistan boundary. It is established just on Hub River, which would be a major source of drinking water in Karachi. The development of the hub dam initiated in 1963 and lasted nearly 20 years to finish. The project was built in 1981, and the government released this to the public. The dam was created for water irrigation and also has a storage capacity of 857000 acre-ft (0.847742 km3). At a cost of Rs 1191.806 million, this was the first dam constructed.
Namal Dam is near Rikhi, a village throughout the Namal Valley, 32 kilometers from Mianwali in Pakistan’s Punjab. The British government has developed Namal Lake, with a surface of 5.5 km2, in 1913. We can see the view of beautiful mountains from the dam’s southern and western sides. The city’s agricultural areas lie mostly on east and north edges.
The dam’s primary purpose was to supply irrigation for the region’s farmlands, but it is also a favorite vacation destination for locals. Birdwatchers flock to the area because the migratory birds and boaters explore options here too. Namal Lake is among four tourist destinations in Punjab that’ve been chosen for future development, attracting more residents and visitors.
Since 1962, the Rawal Dam, one of Pakistan’s water reservoirs, provides supplied water to the twin cities of Islamabad and Rawalpindi. It collects water from the Margalla Hills’ Mastering River and other small streams. The Rawal Lake, including the Margalla Hills, is just a popular tourist destination, having a lovely park lake with lush trees, walkways, and picnic areas. The park’s tallest mountain provides a stunning view of Rawal Lake, the Margalla Hills, and also the dual cities. Diving, sailing, boating, swimming, and water skating just are a few of the things that specialized tours can organize. The Islamabad Club, which really is close by, offers a wide range of water sports activities on the lake regularly. Many species of birds, animals, and reptiles call this region home, and birdwatchers visit frequently Rawal Dam to see native birds. The lake is also a great place to go fishing, with roughly 15 distinct species in its waters.
Gomal Zam Dam
The Gomal Zam Dam is in Pakistan’s Khyber Pakhtunkhwa, inside the South Waziristan Tribal District. The Gomal River, a branch of the Indus River, is dammed at Khajuri Kach, rendering it one of Pakistan’s greatest strategically significant dams. We constructed the dam for irrigation, power generation, and food production. Construction began in 2001 but was completed in 2011. With a storage capability of 1,140,000 acre-feet, Gomal zam is among Pakistan’s top power stations (1.41 km3).
Having two x 8.7 turbines, a height of 437 feet (133 meters), and just a length of 758 feet (231 meters), Gomal Dam is among the most famous six tourist destinations. That’s a 0.5-kilometer-long roller-compacted concrete hydroelectric dam. Locals come to the dam for fishing and picnics alongside their groups. When it comes to considering Pakistan’s hydroelectric dams, the Gomal zam dam is by far the most powerful, providing 17.4 units of power.
Khanpur Dam is in Pakistan’s Khyber Pakhtunkhwa, in the Haripur district. It was developed on the Haro River in 1983 to regulate the river flow. The dam created Khanpur Lake, which supplies drinking water to Islamabad, Pakistan’s capital, and Rawalpindi. Including its lovely blue water beaches, Khanpur Lake attracts all tourists and locals. The fact that this really provides irrigation to Attock, Rawalpindi, Lahore, and Haripur makes this one of Pakistan’s best-known dams. This dam cost Rs. 1,385.10 million to build and took 15 years to complete. Khanpur is indeed a rock-fill dam that is 51 meters high (167 ft). Boating, zip-lining, glamping, hiking, fishing, cliff jumping, waterskiing, and kayaking were all important attractions at this dam.
Neelum Jhelum Dam
The Neelum–Jhelum Dam was completed primarily and provide hydropower to Azad Jammu and Kashmir. Water from the Neelum River was diverted to a power grid on the Jhelum River, culminating in this yet another dam that collects water from one river and discharges it into the other. The dam, which has a capacity of 970 megawatts, started building in 2008 and also was officially opened in 2018. Few people have seen the dam’s reservoir as it is still relatively new, but tourism is expected to increase continue in the early years.
USAID is supporting the development of the Satpara Dam, a multipurpose water and power facility on the outskirts of Skardu City in Gilgit-Baltistan, close to the Chinese and Indian borders. The dam, powerhouse teams 1 and 2, as well as the development of powerhouses 3 and 4 and mainly two preparing the budget drainage systems, are all funded by USAID. The Satpara Dam is projected to provide 17.6 megawatts of power-generating ability to a local power grid, enough just to power around 40,000 households. The dams will also help prevent flooding in the area, store water for irrigation, as well as provide 3.1 million gallons of water per day for domestic use.
Although this dam on its own, and also the realization that storage level has been increased by 2.5 meters to 106 meters since about Friday from 103.5 meters, is favorable for the province’s water-stressed farm workers, the water the reservoir stores only at moment could be of immediate benefit to farmers so because irrigation department has still yet to develop the dam’s sufficient mass. It means that farmers who depend on rainwater to irrigate their land will have to wait a bit longer. Whenever the irrigation ministry assumes control of the dam, it plans to develop the command area by laying watercourses on property that the Sindh government intends to distribute to landowners.
The Sabakzai Dam, lying in Balochistan’s southern district, directs the amount of the Zhob River. The structure was constructed during 2004 and 2007, helping in the watering of local lands and providing a much-needed relaxation area for the community.
So now you have it: the top 13 dams in Pakistan which provide water for irrigation, hydropower, and food. In fact, it has played an important role in promoting tourism in Pakistan. We’ve already provided you basic significant knowledge on dams, like the fact that Pakistan has 150 total dams. Dams are needed for water storage and electricity generation, as experts predict there will be a global water scarcity by 2025. Pakistan is also an agricultural country, and in this difficult era, we need resources to grow. We hope you will find this information to be interesting. Visit Feeta.pk for more interesting information.
Bank Al Habib buys Centrepoint from TPL Properties for nearly $50 million
On May 17, TPL Properties and Bank Al Habib said they had successfully completed the sale and transaction of the TPL’s main “Centrepoint” project, which is located on the Shaheed-e-Millat highway near KPT Road, Karachi. the creation – it is a consequence of the earlier notice the company sent to PSX on August 20, 2020, in which Bank Al Habib said it had decided to buy the building.
TPL Properties is the property arm of TPL Corp Ltd., a technology conglomerate that today focuses on automotive, fire, life and health insurance, real estate development and security services. TPL Properties Limited was incorporated in Pakistan as a private limited company in February 2007. Later in 2016, the company changed its status from a private limited company to a public limited company.
Center point incidentally is, quite literally, the center of TPL’s ambitions. This is one of the biggest developments in the real estate sector of Pakistan. Some facts about the building: the 28-story Centrepoint, 385 feet high, and was built on 26,226 square feet of land. It has 197,810 square feet of rentable space, with offices on 17 floors (from the 11th floor to the 24th, and the 26th and 27th floors).
The building is considered a major TPL property project and was built accordingly, with facilities such as a built-in IT infrastructure, international safety and fire safety standards, nine floors of dedicated parking, and an internal independent power generation unit. The high, which according to TPL was intended for a “luxury company”, also has a health club, a swimming pool and a café.
Here’s the problem: the company managed to share information with the cafeteria, not the actual valuation and sale price.
Impact of COVID-19 on the real estate industry of Pakistan
The COVID-19 pandemic is currently a truly global phenomenon, with more than 100 million people across the world staying home or trying to do so if their way of life allows them. The short-term human and economic impact have been undeniable since people who can wait to work at home have closed their offices, shops and production positions have also closed.
The level of economic uncertainty can be said to be at its highest point, with the trajectory of the recovery challenging to forecast. Although there has not been a joint response at the global level, individual countries are taking the necessary measures to cope with these challenging times.
Before the virus shook the world, the real estate sector in Pakistan had forecasted a significant growth of 4% during 2020; however, this forecast will be delayed.
In real estate, we can see that the contingency is accelerating some trends, while others may eventually reverse. At the digital level, the search for properties has decreased by 40% in the most critical portals around the world; however, in Pakistan, the drop has only been 34% from January to March, and in April, we see that it begins to stabilize.
Digital portals have become the primary sales channel and the first point of contact when a person is looking for a property for sale or rent. Although the purchase decision is being postponed for the moment, it is essential to note that it is not is stopping.
Although the number of searches has decreased, those who perform them are willing to continue with the process. The total of people who are looking for a property and who have followed up with advertisers increased 19.2% in January, 18.2% in February, 16% in March and 17% in the first two weeks of April.
Regarding home income, the information that circulates is that approximately two out of every five contract renewals have been canceled, derived from the lack of work. The Ministry of Labor recorded the loss of roughly 350 thousand jobs since mid-March, and as the pandemic evolves, there is a risk of more layoffs.
The office rental market in Pakistan is also beginning to face a bleak outlook with an increase in the unemployment rate that could reach up to 5%.
Coworking offices are being hit the hardest by the initiative of many companies to make their workforce work from home, and the construction of corporate buildings will face a contraction, at least for the next few months, until the global economy stabilizes.
In addition, retail and shopping centers have also been forced to close. Indeed, their recovery will be slow and long-term since, in addition to the contingency, they face new sales models such as electronic commerce; this is one of the trends that accelerated during the contingency.
In these uncertain times, it is essential to note that although the volume of transactions has decreased, the sale and rental of properties have not stopped; The real estate sector is changing the way of doing business, but not its bottom line and digital tools are the best options to continue moving the market, which from past experiences, we know that once this situation passes, its recovery will be intense.
Factors such as the maintenance of interest rates and accessible terms for financing by banking institutions during the contingency, because it is predicted that these could increase once the situation has normalized and that the authorities have announced economic plans to revitalize the construction sector, they give certainty that the market is not going to stop.
Looking towards China
The nature of the challenge in the world economy forces us first to look at the effects of the coronavirus on the Chinese economy to try to analyze the potential impact on any business area across the globe. After 55 days of quarantine, China’s transportation came to a near-complete halt; hotel occupancy fell by more than 90%. Car sales plummeted 92%, although the number of actual transactions declined only 35% during the months of January and February. At the same time, 55% of residential projects began construction, and 77% of constructions reached completion during this period. Within the Chinese GDP, the real estate industry represents a sectorial weight of 14%. It is fair to say that despite the blockade, activity in this sector of the economy was able to remain low.
Future development of the local market
Undoubtedly, there is more concern about the behavior of the local market in the coming months. It is inevitable that the total stoppage of the tourism industry will have a negative impact on unemployment rates and that a higher level of uncertainty will slow down the first-home market. However, we must highlight the macroeconomic conditions that govern the real estate market to understand that it is only a transitory situation and that the local demand for housing will soon recover, driven by the shortage of supply, the increase in population, and the tourist industry to be recovered. Pakistan leads tourism worldwide. We have great faith in the ability of their companies and local authorities to adapt to new conditions., with the accumulated experience of more than 50 years innovating in the leisure and travel industry internationally. In addition, it is categorical to understand the behavior of the population of an island towards the real estate market as a generator and guarantee of wealth. The culture and tradition of the inhabitants of Pakistan are to preserve the land that produces crops and to maintain the apartment or store that generates rental income, even if this means making an additional effort for a certain period of time.
A New Era for nature and the environment
This global wake-up call will transform many aspects of life, aspirations and our responsibility to the planet. Pakistan has dedicated, for many years, efforts to protect the environment locally, and its tourism companies, with a presence in many countries and with thousands of employees around the world, have made sustainability at the heart of their business. At the local level, we invest sustainably and responsibly in local actions and consumption. Pakistan has a bright future as a reference to support the local producer, who is now receiving the deserved interest from the country population and visitors who appreciate the nature of Pakistan and wish to protect it. This global shift towards health, responsible consumption, and environmental protection will positively affect the Pakistan real estate market. It will become an increasingly determining factor in new projects that already have energy savings and the responsible use of construction materials among their priorities.
Property Tax In Pakistan 2020: Latest Property News Updates And Criteria
Less than 1% of Pakistanis pay property tax. This is a bad and risky statistic for a country’s economic well-being.
Most residents in Pakistan do not pay taxes. In return, this weakens our financial and economic situation. There is not enough money for the government to pay for roads, hospitals, education and defense.
In addition, the state needs to rely on foreign sources to raise revenue due to the lack of taxation. This involves loans from other countries and large-scale banks.
Property Tax In Pakistan 2020 – Important Details
You need to have details about the size of the lot and how to know it correctly if you are measuring the tax on your home.
This blog should remove all confusion related to properties in Pakistan 2020.
What is a Property Tax?
In the type of money the owner would pay, the property tax is the amount. The government is collecting the bill. The government is helping taxes. It is used in various fields, e.g. In road construction, increase in the required imports, payment of wages of people, and so on.
The word property applies not only to plots or homes but to all materials you own. Your car, farm, office building and other things on your behalf will be part of concrete help. Pakistan’s current property tax rate is 25% in 2020.
Although it costs to buy some material objects, e.g. To build your houses, raw material costs, labor costs, interiors, floors and others. Many banks in Pakistan lend a home to facilitate the construction of your home.
How You Can Pay Your Taxes
In Pakistan there are three types of property taxes:
- Each province has its own tax department. You must call the local tax department to pay the tax.
- By creating an online asset tax, you can also pay your tax in banks.
- You can change electronically through your online banking systems.
Tax Year of Pakistan
The fiscal year will begin between July 1 and June 30, so the property tax, which began on July 1, 2020, will end on June 30, 2021. Real estate can be contacted for in-depth perspectives. The books offer insights into both industrial and residential.
Property Tax And The Situation In Pakistan
In the third world countries, Pakistan is flourishing and progressing if we are to see it. Now is the time for us to act. The housing tax is not the same for everyone and the more you receive, the more you pay tax. It ensures a balance between the social class of different status. The rate often varies between cities and districts. The taxes are in format and they are charged conveniently by any citizen.
Many citizens do not pay the taxes that do not build such good financial conditions. The administration would not earn adequate funds for financial compensation, health insurance, education, and defense. The government has gone to foreign outlets because of these circumstances. This implies the take-off of high-interest loans from the IMF and other nations.
Important Issues To Consider WRT Property Tax In Pakistan
- There is no distinction between plots and some buildings
- CGT was shortened to 4 years the retention time
- 100% of the capital gains taxed because it is less than one year of the retention period
- 75% of the capital gains tax if the retention period is longer than 1 year but less than 2 years
- If the retention period lasts 2 years but not 3 years, 50% of the capital gains will be taxable
- In which the retention period reaches 3 years, but not 4 years, 25% of capital gains are taxable
- No tax on CGT after four years of tenure
Types Of Property Tax In Pakistan
Capital Gains Tax
You have to give the government a certain amount of money when you buy some land. The Capital Gains Tax is charged at a rate of 2% of the recorded value, in accordance with the Finance Act 2006.
In the current budget, however, the general value-added tax on urban spaces is 2% and the stamp duty rate is 3%. Stamp duty is an amount you pay for the legal records of the property.
Capital Gains Tax
This tax is the inverse of VAT. Capital income tax is a certain amount of money that the seller needs to pay for selling his assets. The tax applies to the income of the seller.
The Pakistan Finance Act 2017 stipulates that capital duty can be imposed only if the property is sold within the first three years of the sale. In addition, annually, tax rates are adjusted.
The tax rate is 10% in the first year, 7.5% in the second year, and the tax limit is 5% in the third year. The seller does not have to pay the capital gains tax in Pakistan after three years.
Capital gains tax and capital gains tax are a combination. The buyer and the seller must share a certain price when an item is sold.
In Pakistan 2018-19, a buyer of the house, which is also an income tax, will pay a 2 percent withholding tax, while a non-advertiser will buy a 45 percent tax. The taxpayer must pay a 2 percent withholding tax.
Will you see the gap between taxpayers and non-registrants in the tax bracket? This huge increase in the tax rate is aimed at ensuring that taxes are made. Similarly, buyers of the property must pay a 1% tax for registrants and 25% for non-registrants.
Which properties are tax-saved?
Any active groups are exempt from the imposition of taxes. The following categories are addressed:
- Houses built on land less than 5 Marla, instead of the category “A” place
- Property cannot operate above the annual rent of PKR. 5211 / –
- A single house with an annual rent of no more than PKR. 6480 / – if the owner’s house is occupied
- The annual deduction of the tax debts of buildings occupied by widows, small orphans and / or the disabled is PKR 12150 / -.
- Housing up to one Canal owned and rented by a former government worker is removed from the ownership of a dwelling house
- Government buildings, such as businesses, districts or cities. buildings maintained by a government or magistrate
- Mosques and other monasteries.
- Urban parks and children’s fields, schools, boards, homes, inns, bookstores and hospitals, buildings and real estate.
- Places rented only to public charities, religious or prescribed.
Regardless of what property you own, one must stand as a responsible person. The conscientious citizen keeps his tax data accurate. The company economy is set up by this action. When we look at the land, people in various private businesses like to buy land and houses.
The values of the property are growing steadily as it is the perfect opportunity to buy. Today’s investment is tomorrow’s investment. Contact Globe Estate & Builders for more information on property news.
Everything You Need To Know About Real Estate Investment In Pakistan
We often hear that real estate investing has a bright future in Pakistan – but sometimes it can cost you a huge fortune in the form of scams and frauds.
We know that in Pakistan real estate and real estate are spreading through many regions. Although each area is distinguished by its investment offerings and options, Karachi, Lahore and Islamabad are the three main cities in the country for real estate.
This article has all the important details about real estate in Pakistan, the investment benefits and factors related to real estate.
What You Need To Consider Before Making A Real Estate Investment In Pakistan
The following things should be considered:
Real Estate Investment Information
Sufficient real estate education is essential for real estate investors. The income from real estate investing needs to be well understood to you. Take a long time to get to understand every aspect of the property. In Pakistan, it is a growing industry and has a fast pace.
The design of a property must be high quality and smooth. It is important to have a realistic awareness of all the current developments in the real estate market in order to keep this unpredictable rate and become a profitable investor.
You can read about real estate for free from too many newspapers. Some mass media are most frequent:
- Real estate YouTube channels
- Real estate books
- Real estate podcasts
- Real estate blogs
- Real estate television programs
Both of these resources are easily accessible and convenient. Take advantage of them and try to learn from them as best you can.
It’s no joke if we conclude that real estate is definitely possible for a lifetime cash flow. You just need a workable approach.
Spend some time planning an integrated plan for your investment in the property before you spend your hard earned money.
Would you like to invest in all kinds of assets or just stay in a niche, for example? Do you want to spend as an exclusive owner or do you want to participate? Would you like to develop your investments locally or would you like to grow your investment in other cities?
Such financial decisions will make or break your investment in your home. You will receive a decent income within a limited period of time if you have a good plan in place.
Select Redeem Properties
The fate of the draw is not to get the best property. For the perfect property, you need to be diligent and polite. Before buying real estate, ask about the land, rates in the area, country styles such as whether to buy in the apartment, house or store, details of facilities and the area.
Above all, make sure that it is accepted by the municipal planning authorities. Check the property carefully to make sure all property papers are accurate and complete, keeping your eyes open for any defects.
Buy Your Property
Once the preliminary research has been completed and your real estate investment options in Pakistan have been limited, it is time to buy your house. Consider all legal aspects and advise reviewing the accompanying transition and sales articles.
Furthermore, remember your plot or home location and construction level. These variables significantly influence how fast property prices rise. Often buy property authorized by the relevant government authority so that in some legal matters you do not miss out on investments.
Things to Consider For A Better Return On Real Estate Investment
Here are some moves you can make to achieve the highest investment speed and return:
Don’t rely on one resource
Don’t rely on just agents or insecure portals to create your buying or selling cost. Browse Zameen.com’s listings for the region of the property to see the latest trend in prices. Also, contact some agents to get the trading pressure and see what prices they offer.
Make sure your property is worth it
It takes some pretext to make this move. Contact one or two agents from the buyer’s point of view and ask for the cost for your preferred home. Call one or two additional agents from the seller’s point of view or ask about pricing. The fair market value is among the listed prices, as the purchase prices are usually higher than the sellers.
Go to the previous stages for token capital
If a contract has been terminated, the buyer collects symbolic money. This is the customer’s promise that the property is purchased and binds all parties to the contract. Sign money is usually a very small percentage of the total value of the land, preferably between 50,000 PKR and 100,000 PKR.
The receipt of a sign includes the full details of the property and shows whether a conflict occurs.
Real estate portfolios do not face sudden changes such as the trading of stocks and bonds. Real estate is also very stable and rates are smoothly priced. This means that failure is less possible internally.
If you want to build your capital smoothly in a risky person, the investment in real estate is right for you.
Try to meet the other party face to face
If you are a buyer or seller, it will help facilitate the process by seeing each other face to face. You will also reliably confirm the ownership status and legal status of the property in this way.
If you are buying a home, make sure the assignment or transfer letter is reviewed by the owner’s NIC.
You may receive many benefits from a house or apartment. You can rent/lease your place, put your room on Airbnb, use it for your own home, and as the cost of the property grows, you can sell it. How incredible is it?
If you are looking for a great investment option in Pakistan, real estate is the ideal alternative for you.
Real estate offers you a reliably strong income. You can earn a monthly return of up to 20% on average. For example, you can sell it for RS.560.000 next month if you buy a property for RS.500.000 without doing anything as well. Staying at home, you get an additional Rs.60,000.
Investors usually earn property tax exemptions. You will, for example, get mortgage interest deductions. This is generally done by politicians to promote additional spending.
The complete ownership of the asset is one of the most significant and desirable factors inland. You will be wholly owned and no one will take your property from you when you buy a house, and you have all the legal rights to it.
You do not have perceptible assets and ownership of other types of investments such as bonds, mutual funds, and vice versa. That said, immobilization helps you rule your land.
Taiser Town Scheme 45 – Brief overview of History, Developments, and Future
Karachi Scheme 45 is one of the most talked about buildings in the city today. Like many other regions in the vicinity of Karachi, Scheme 45 is also seeing rapid real estate development. The project has been stalled for quite some time, however healthy real estate activity in terms of business and development is evident now after the 2019 election. Today we will explore all about Scheme 45 Taiser Town and inform our readers about the latest developments in the area.
SCHEME 45 TAISER TOWN KARACHI
As we wrote earlier about Taiser Town, this project was started in 1986 by Karachi Development Authority (KDA). Ten years later, in 1996, this project was handed over to the Malir Development Authority (MDA). After this project was submitted, MDA relaunched this project in 2005. Taiser Town is basically located in the northeastern part of the city. Upcoming well-known projects of this area include Gulshan-e-Maymar. Dreamworld Resort is another popular water park located in the same area. The project is planned to house about 2.5 million people with the area extending to about 21,000 acres. The housing structure was divided into two phases. Phase I will have nine sectors, and phase II will have 30 sectors.
The Taiser Town Scheme 45 master plan was designed by The Engineering Consultants International Limited (ECIL). The design includes a wide range of facilities and amenities such as recreational avenues and parks for families. A total of 9,500 acres of the area has been earmarked for recreational facilities of the town. The housing association was planned so that it itself would be a small town. This means that the society will include all roads for commercial and recreational activities so that its residents do not have to travel far into the city to reach these facilities. One of the attractive features of the project includes the business district along Karachi North Bypass. This is one of the main routes in Karachi, which has a lot of potential for business opportunities as the route is well connected and offers easy travel to residents.
Initially, the area was viewed slightly away from the city center. However, the city is rapidly developing and expanding which is leading Scheme 45 to fame and people are now looking to invest in this project.
SCHEME 45 TAISER CITY: STATE OF DEVELOPMENT
Taiser Town still receives NOCs from service companies. However, this should not be a critical aspect for investors, as many real estate experts have predicted that prices will rise in the coming years. Therefore, Taiser city plan 33 will give a healthy return against medium-to-long-term investments.
Speaking of the development action, according to the official website of Scheme 45, the Taiser Town area will consist of the dedicated residential sector, commercial sector and mixed buildings. However, 10% of the total area of the project will be reserved for parks, playgrounds and for other recreational activities. In addition, the project aims to provide the following facilities for 1000 apartments each:
- places of worship
- Water treatment plant
- offices for useful departments
- wedding halls
- community centers
- bus station
- local post office
- fire stations
- police stations
- parking lots
- public toilets.
AVAILABLE EVAPS IN TAISER CITY
Buyers have a wide range of residential and commercial plots when it comes to the investment options in Taiser Town. As we mentioned before, the project was classified into two phases. Phase I has relatively higher prices compared to phase II. However even phase I is quite affordable for many investors. For example, you can easily get a 120-square-foot plot in a range of PKR 6 to 8 lakh. The cost of 80 square meters is about PKR 4 to 5 lakes. In phase II, you can get plots even at a lower price.
Authorities on foot get water, electricity and other services for the housing society. All projects are leased by the government, but the MDA has put in place a proper procedure to obtain your property in the name of the buyer. This procedure should not take more than a month. Most sectors of phase I have assets available, as major development work has already ended there. However, in phase II, development work is still progressing and properties will be available in the future.
Phase I properties include residential plots of land of the following sizes:
- 80 kv
- 120 kv
- 240 kv
- 400 kv
These plots are available in old sectors. The voting of these plots took place in 2005. However plots that were recently voted in 2019. are available only in 80 and 120 sq. M. Transfer fees for the plots in relation to size are as follows
- Rs 5000 for 80 kv
- Rs 6000 for 120 kv
- Rs 12000 for 240 sq. Ft
- Rs 16000 for 400 sq. Ft
In addition, authorities work with buyers to assist them in their respective construction plans. Every development for utilities like electricity, water and sanitation has been done. Since it is a government project, the government will provide service connections only after people settle here.
Despite the fact that ownership is available, people are not yet building here. The authorities are trying to entice buyers and investors to invest here given the fact that prices are still relatively low.
As we reported earlier, the overall demand for real estate in Karachi has almost doubled during 2018-2020. The plots saw a 49% increase in demand and demand for houses drastically increased to 103%. Meanwhile, housing demand grew by almost 120%.
The increase in demand is directly proportional to prices. This means that the increase in demand raises prices. We are also seeing this in the real estate sector. The average prices of various sizes of houses have seen the following increases.
- 120 square prices rose by 35%
- 240 square prices rose by 17%
- 400 sq yd and up by 13%
The prices for plots also showed a similar pattern. The jump in market prices for plots is as follows:
- 120 square yards increased 14%
- 240 kv. Yd up 15%
- 400 and up by 22%
These figures essentially reflect the fact that the demand and value of residential houses in the city is growing dramatically. It also indicates the importance of affordable societies like Taiser Town, where investors can earn a good profit in a short time. Moreover, people can also consider this option for living purposes with a minimum budget.
Rental Laws in Sindh – Comprehensive Knowledge for Landlords and Tenants
The rental laws became part of the constitution of Pakistan in the 1950s. The main purpose of introducing these laws is to define the rights and responsibilities of tenants and landlords. The laws are almost identical for all the provinces of the country including Sindh, Punjab, Khyber Pakhtunkhwa, and Balochistan with few additional clauses due to the territorial differences. However, despite these differences, these laws ensure that a rental agreement protects the rights and interests of both parties in every aspect without violating the law.
So, if you are renting or planning to rent your property to sign a rental agreement in Karachi, Hyderabad or any other part of Sindh, today we will discuss everything you need to know about the rights and duties of both. parties in accordance with provincial laws.
Rentals in Sindh
In Sindh, tenancy laws are under the umbrella of Sindh Leased Places Ordinance 1979. This ordinance defined the regulations on rental agreements to protect both interests of tenants and landlords for almost all situations to avoid disputes and conflicts.
So let’s find out what our law covers about the official documentation and issues related to rental contracts in Sindh.
Rental agreement between country and tenant
The rental agreement between landlord and tenant must be made in writing. The agreement must be signed by both parties and it must be attested by an official seal of the relevant authority associated with the jurisdiction where the property is located. You can also get this document certified by a First Class Judge or by any Civil Judge. These are the necessary conditions for the validity of a lease.
By law, the lease agreement must be renewed annually, otherwise, it would be considered invalid in court. The landlord is entitled to review the terms of the lease (within legal limits) and monthly rent after the renewal of the contract.
About the conditions related to Rent
The landlord must charge the rental amount, which has been mutually decided by both parties and clearly mentioned in the agreement. Although there is no specific date as the deadline for rental fees, however, according to general practice, tenants must be paid no later than the 10th of each month in Sindh.
The rental laws in Sindh ensure that the rental prices would be fair for tenants as well as for landlords. The laws protect the rights of both parties. According to the laws in Sindh, the rent of real estate cannot be increased by more than 10% annually. In addition, if the fair rent has been determined, it cannot be increased for a period of three years.
Here are some of the main points on the basis of which a fair lease of any particular property is determined.
- The rough analysis of the monthly rents for similar real estate located in the same or adjacent neighborhood.
- The increase in construction costs, repairs and maintenance costs.
- If there is any new tax after the start of the lease.
- An increase in the value of the leased property on the basis of the government imposed property taxes.
The owner cannot interrupt amenities and services
The law does not allow the landlord to discontinue any of the services and amenities including but not limited to service connections such as electricity, gas, or water unless this is announced in advance and decided with the tenant. However, the interim service providers may terminate such facilities on the basis of their organizational policy. Other relevant authorities may also terminate these amenities and facilities under any specific circumstance.
Maintenance is important
Repair and maintenance of the leased property is the responsibility of the landlord. However, if the owner is unable to do so for any reason, the tenant is entitled to perform the required maintenance.
In such a case, the landlord must pay the maintenance costs. The tenant may deduct it from rental costs if mutually agreed. However, the tenant pays documented proof of expenses incurred for the repayment.
Expulsion Laws in Sindh
Upon successful completion of the lease agreement, the landlord has the right to evict the tenant on the basis of legal eviction conditions. Eviction terms are almost identical across Pakistan. However, Sindh Rented Locises Ordinance 1979 has a number of additional clauses and requirements that must be met to avoid legal complications. The central idea of the additional clauses is listed below:
- The ownership of the leased property was transferred or sold to another person.
- If the tenant causes significant damage to the property, that could impact its property.
- If the major renovation became necessary for the area or reconstruction was forced by the modifications in the building regulations. However, once the reconstruction is complete, the tenant can re-apply for the assets.
- If the owner and their legal heirs want to use the site for their personal use, they are free to vacate the property after consulting the legal authorities.
- If the owner of the rented premises is a widow or orphaned minor or elderly person who is over 60 years of age. And this fact was evident when the property was rented, the said clause for eviction becomes invalid.
- Always remember that whatever the cause of eviction, whenever a landlord wants to evict tenants, they must write a request to the relevant authorities in accordance with the law.
Karachi Real Estate Market Saw a Massive Boom!
House prices in the largest metropolitan city of Karachi Real Estate have grown almost twice as much, preventing citizens from buying property in the city.
The mass migration of people from various rural areas of the country in search of better living facilities has resulted in the massive growth of slum regions across the city and created a severe housing crisis.
The city’s real estate market saw a boom of 50 to 100 percent as life returned to normal after the pandemic. Areas that see significant real estate are Gulshan E Maymar, Shah Latif Township, North Bypass, Surjani City, Scheme 33, Malir, and Jinnah Avenue Road.
Neighbors with the availability of basic services such as water, electricity and gas provided a jump about 100 percent.
Housing on Jinnah Avenue Road near Model Colony has reached more than Rs 10 million, even the reserves for sub-construction projects also cost up to Rs10 million.
You cannot get a legally released 120-yard plot in a stable and well-equipped society at North Bypass in less than Rs 1 million.
Real Estate Investment Guide in Karachi
Attention DHA City, Gulshan E Maymar, Pir Gul Hassan, Pir Ahmed Zamaan and Taiser City.
Before Investing in Scheme 33, be sure to check out a list of illegal companies
Private Property Financing Options: Lender’s Guide
Most real estate borrowers run to traditional lending institutions to finance the properties they are looking to buy and sell. Banks, government support housing, and insurance companies are usually the preferred companies for real estate.
However stringent requirements and the long waiting period have become the main obstacles for most borrowers. And, for buyers who are looking to buy a great property, time is of the essence. Alternative financial arrangements aim to stifle these challenges. With fewer rings to skip, real estate investor-borrowers are more than willing to take advantage of unconventional lending options.
If you are an inexperienced real estate investor, I need to get acquainted with other loans, especially if you have outstanding loans from traditional financial companies. Read on to know more about private financing and hard money lending, as well as the pros and cons for investor lender and investor borrower. You read that right. In private financing, the lenders and borrowers can both be considered as investors.
What is private real estate financing?
It takes a lot of money to invest in real estate. As an investor, you can turn to either conventional or alternative lending methods as it suits you best. Private financing is one of the ways you can secure an investment. Often, private financing depends on the relationship between the lender and borrower. Most often, however, private financing for real estate can be in the form of private equity funds.
The main drawback of private financing is its flexibility. It can be used to finance a variety of real estate; from buying rental property to investing in a home, or as additional financing for new real estate construction. Private lenders also usually require fewer documents and a more lenient control and approval process.
What is hard money lending?
As a type of private real estate financing, hard money lending is an alternative financing plan that allows borrowers to use property as a loan guarantee. This means that the property used as collateral can dictate how much the lender can borrow, rather than alternative lenders relying on the borrower’s credit history and other circumstances.
Which leads you to the question; do you get a difficult loan? The truth is that it may not be suitable for anyone. Hard money lending works best for investor borrowers who do not have impressive credit but own valuable property. Placing property as collateral allows a borrower to access loans typically limited to those with impressive credit ratings.
Similarly, a property owner at risk of having property foreclosed may also use this unconventional real estate financial plan.
As with other private financial methods, hard money lending allows investors to participate in the real estate industry even without going through the lengthy processes of buying homes, or keeping and maintaining a property to be included in their investment portfolio.
A private lender must set criteria for qualified borrowers, and like traditional lenders, you may also be turned down for a loan.
What are the benefits and risks of private real estate financing?
Using private money to lend to a real estate borrower comes with its risks and benefits. Below is a list of a few points:
Advantages for the private loan investor
It’s a great way to earn a passive income. You don’t have to go through all the hassle of finding, buying or managing rental properties and other types of real estate. You just need to raise money to lend to the borrower and collect regular payments.
Due to the more lenient approval process, high-risk borrowers are allowed access to additional financing. This means that higher interest rates are imposed on private cash loans compared to traditional lenders. Investors can also enjoy higher returns.
- Who can become a private financial lender?
Being a private financial lender is ideal for the following categories of people:
- A real estate investor who wants to expand their portfolio
- A professional who has a high income career
- An individual who has considerable money reserves
- Emeritus seeking passive income
Generally speaking, anyone who is able to raise good money can lend their private money to borrowers. If you want to become an investor, have someone you can trust, such as a family member, as your first borrower.
However, it is not without its drawbacks. For example, the borrower you have chosen to finance may not be as financially savvy as initially thought. And as a result, you may lose instead of making money.
Additionally, the time and effort you have left to find and maintain real estate should be dedicated to research on real estate investors, and other important factors on the loan process.
Benefits for the private lender
As mentioned, private lenders generally have more lenient examination and approval processes, allowing borrowers to have better access to real estate financing. And, while alternative private financiers have their own criteria for ideal borrowers, they are nevertheless less stringent than others.
- What type of borrowers can take advantage of private financing?
Additionally, a real estate borrower who is planning or in the middle of the following projects looks more attractive to private lenders:
- House fins: If you are a borrower-investor who buys cheap houses and repairs it to resell at a higher price, you will find that private lenders save lives. Conventional lenders usually do not consider outdated properties and require too much time before they can release the money.
- Rental investment investors: Investors who need additional financing to rehabilitate rental property can also access private money. Look for a lender who wants to have a steady stream of passive income.
- Developers: These types of investors-borrowers are looking for useless land where they can build residential or commercial real estate. Because time is money in construction, these types of borrowers may not be willing to waste the lost time and opportunity waiting for monetary release. A private financier is a very tempting proposition.
Risks for the borrower
The only foreseeable risk to taking advantage of private financing is that you may not be able to pay due to the high interest rates. However, if you need money quickly and for emergency purposes, such as when you face foreclosure, it won’t matter much.
Do you have private funding?
Private financing is an alternative way to access finance for your real estate. The smoother and overall faster processing is tempting, but it can literally cost.
If you have a negligible credit record but need money for planned investment, quickly; consider asking lenders for private money.
4 Ways Investors Can Increase The Value Of Their Investment Property
Every real estate investor aims to earn maximum profits. However, the market is experiencing rapid changes, and competition remains fierce. If you have a long-term rental property, it probably had one hundred percent occupancy when it was still new. Maybe you were able to capture a specific market segment earlier, facilitating revenue. But as economic fluctuations occur, they may also be devalued. Both can have significant effects on the future profitability of your property.
Thus, you may need to strategize how to increase the value of your investment property for future income. If you are a first-time investor, these stocks may not know you. To help you make such moves now, here are some ideas to consider.
1. Make It Energy Effective
Energy-efficient upgrades can help drop electricity bills. Investing in these green renovations could help you take out unnecessary expenses later. Instead, you can use your money for other repairs or developments for the property.
Energy-efficient systems, appliances and appliances can enhance the physical and even the social value of your property. Many tenants and buyers who adhere to “green living” practices would choose to pay a little more on rent or the overall sale price of a home if they could see improvements in line with their core values.
However such updates do not need to be fancy. Here are some simple ways you can strengthen the house:
- Change the windows to energy-efficient modeling units.
- Install bay blinds that can help block direct sunlight to keep the house cooler. Money can be saved thus by saving the electricity bills.
- Install solar panels and solar appliances.
- Install a smart thermostat.
- Install low-flow toilets and showerheads in the bathroom.
2. Improve Your Boundary Appeal
Limiting an appeal is a key part of your overall value. Taking care of the first impression of your property is necessary to attract the right customers. Thus, have a well-kept lawn, a guarded garden and a clean exterior.
Paying attention to the boundary appeal of your property, especially landscaping, can be quite costly. But having flower beds and trees could enliven a lawn. Depending on where the property is located, you may be thinking of some landscaping tricks to help with noise reduction and privacy as well. Adding a small fountain to your front yard may help eliminate traffic noise. Planting hedges can add extra privacy to the property as well, while beautifying the surroundings.
Although there are always cheaper options, consider the long-term advantage of an excellent investment over secondary work. Putting work and money in now could put more money in your pocket for the future. In addition, the limit of your property will greatly attract any potential buyers or tenants. Highlighting your house among others might be just the thing it needs to bring your future financial security.
3. Ensure Maintenance
The best way to ensure that your property will continue to yield a growing profit is to keep it preserved. Among tenants, make sure you invest in professional cleaning and small care jobs, whether it’s electrical work, gardening, plumbing, roof repairs, or pest control. These problems will not only go away on their own if they occur, and you will certainly lose out if your property is not desirable for the right buyer.
4. Update The Kitchen
The kitchen is one of the most important places in your home. If the kitchen of your investment is clean, modern and has that readable atmosphere, any serious tenant would consider it automatically. If you’re selling, know that many buyers inspect the kitchen first. That way, you have to make sure that it is always the best room in the house.
If you need to upgrade a bit, here are some things you can do to revitalize your kitchen:
Consider replacing old ovens and ovens originally installed on site. Look for appliances that can blend in or enhance the style of your kitchen to increase your home value. Upgrade older and outdated systems to avoid problems with your electricity as well. This way you can promise security to any interested tenant or buyer.
Brand new faucets:
It is also important to update taps. It won’t cost much for a simple replacement set, but it could make all the difference for your kitchen.
Brand new benchtops:
Refresh the kitchen with new benchtops. From granite to laminate or even wood benchtops, there are many options to customize your kitchen. Remember to look for options that are easy to care for but with a bit of style, as these are two aspects that buyers and renters will look for when inspecting a kitchen.
Cabinet and door repaint:
If the cupboards look a little old, but you don’t have the time or money to put in new ones, simple paint could make cooking from boring to fabulous. You’ll be amazed at what fresh paint can do for a kitchen.
Brand new modern handles:
After painting, you may also want to get modern handles for the doors and drawers. Look at projects in magazines or browse the internet to find a new style compatible with your kitchen. Like painting, this is a simple and easy method to breathe new life into a home.
There are several ways in which you can make the most of an investment property. One of the main tips is to keep it looking desirable and functional for potential tenants or buyers. You need to know how to play, so to speak, where to spend money and where to dedicate your time and effort in terms of improvements and repairs. You may have to spend a little here and there to come back more in the future – but it’s worth it.
The things discussed above – such as energy-efficient appliances and appliances, a focus on bright attraction, up-to-date care and attention to the operation and style of your kitchen – are just some of the ways you can ensure the value of your property will increase with the market.
TRC decides to refine system for valuation of immovable properties
The Tax Reform Commission, led by state revenue minister Hammad Azhar, on Monday decided to refine the system for valuing real estate, speeding up a process of tracking and tracing in the tobacco sector.
This would also include recommended procedures for taxing small entities involved in the retail trade, reports Business Registrar.
The meeting discussed the topic of real estate appraisal and informed the participants that using appraisal tables was a tentative proposal and is not a long-term measure to appraise such real estate.
Moreover, from a review appraisal each time, a constant solution for appraisal of real estate was proposed during the meeting.
And the issue of a link between bank accounts and national tax numbers (NTN) for broadening the tax base was also discussed during the meeting.
Therefore, it was agreed to investigate the likelihood of effectively using the data of the National Database and Government Authority (Nadra) to bring potential people into the tax network.
The meeting also accepted the recommendation of the Implementation Committee on Tax Reforms (TRIC) to draft a simplified return form for small and medium-sized enterprises (SMEs).
According to officials of the Federal Revenue Board (FBR), the holding in the pursuit of a track record in the tobacco industry has contributed to a massive revenue loss of 40-50 billion a year.
Investment In Commercial Property In Pakistan
Commercial real estate in Pakistan has different characteristics that distinguish it from a dwelling house.
It is not a simple job to invest in commercial real estate. Before investing, there are also things to look at. Business investment in Pakistan includes the choice of the site, the number of feet, how many people visit the region per day, price, price for money, and so on.
It is just as difficult to find the right property for your company, whether it is rented or purchased. Property is another aspect that needs to be targeted in the form of the company so that the investment is not lost.
That is why here are some outstanding advantages and handy tips for investing in commercial real estate in Pakistan.
By building equity in your real estate business, you will use it to further expand your business without jeopardizing your business. This helps you deal with the development of your company more flexibly.
It also gives more options when the retirement period arrives. As a company owner, you can either directly sell the practice and underlying property during the retirement period, or just sell the practice and rent a commercial property that provides a source of income.
Investments such as stocks do not allow for anything more than buying and selling, however, provided requirements are met and necessary permits from a local authority are secured, commercial homeowners can invest in their real estate.
A commercial property owner in Pakistan can upgrade, restructure the property outside or inside, increase rents or even modify its zoning. Inflation will bring value to current features as well. While new developments may cost more than building older properties, existing sites and the more recent local construction are still growing in value.
Tax Benefits And Maximum Returns
It can be a dynamic place to invest. Unfortunately, it is not only black and white as a profit generation. Taxes and other external conditions can also affect business activities. These elements can be used to your advantage when working with real estate.
The value could rise in terms of market valuation and financial value for you, but over the years the building itself would certainly decline. The direct decline indicates that the physical value of property decreases over 27.6 years. Meanwhile, after more than a decade, other features will fall apart. This loss will offset a market value gain that actually contributes to a better outcome.
A competent accountant would require these considerations. However, in most markets, such resources are not open. Here is another explanation for preferring industrial ownership over other solutions.
Cash Flow Perspectives
You must pay the premium for an additional cash flow of rental income if you own a commercial property with room for tenants. Tenants are willing to use their money to pay for the purchase of their land, offsetting the expense of saving.
It is important to note, however, that tenants include responsibility for property maintenance, which will diminish the presence of the main commercial properties.
Practical Tips For Investing In Commercial Real Estate In Pakistan
- One must understand the state of the market, including tariffs and the value of land, so as not to deceive man. It is extremely important to keep yourself up to date. In relation to residential and commercial property, is a great distinction, so the characteristics of both forms must be understood.
- You need to prepare yourself so that you know when, why and how to invest in company property, because there is only one factor you need to consider when investing.
- You need to remember whether the position would offer you capital growth or not, whether the site has construction potential or not.
- The land has or does not have the most important lease option. If you do not want to use the feature yourself, you must rent it.
- The land should also include important amenities such as parking lots and electrical supplies.
How to Avoid Long Home Selling: 5 Tips to Sell Fast
As an investor, you may want to diversify your portfolio from real estate to stocks, bonds, crypto or many other things. If you already have an old rental property, vacation home or any property you want to sell quickly to get quick cash for your next investment, then you need to find ways to avoid a long sale.
In this article, you will learn some expert tips so that you can sell a house quickly.
1. Avoid Dealing With Consumers
Consumers are not everyday shoppers. They are private people who are looking for their dream home at the lowest price. They want a house in good condition without significant roofing, electrical, plumbing, drainage and foundation problems. Consumers are also the most demanding type you will ever meet.
According to the June 2020 statistics of the National Association of Real Estate Agents (NAR), the typical U.S. home remains on the market for about 24 days and 46 days to close a purchase loan agreement that gives an average of 70 days from listing to closing. These statistics are based on traditional home sales. Why do you wait so long if you have other options?
The benefits of avoiding dealing with consumer shoppers include the following:
Deal with investors like you:
You can avoid dealing with consumer buyers, which can prolong home sales by dealing with a buying company, such as Buyers of Burlington Houses. Home buying companies are managed by investors like you, buying and selling homes to the commercial market. They aim to make money with modest profits by buying and selling real estate at a low price instead of selling expensive homes for significantly high profits.
Save time and money:
Avoiding consumer shoppers can save you money from inspection, listing, repair and other expenses. On the other hand selling a home to a real estate investor is time consuming and cost effective because you will be spending money for nothing.
Sell Your Home Quickly:
Private individual buyers need nutrition, constant monitoring and monitoring. They are difficult to handle, unlike cash buyers who are simple in offering quotes. Either you accept the offer, make a counter-offer or reject the offer.
2. Promote Your List Online
If you are used to listing properties in newspaper advertisements, the time has come to list your home for sale through different internet channels. This will strengthen your list and increase potential buyers.
It’s a good idea to create a virtual tour so that potential buyers can simply click on the link to go through your house online. If you plan to invest in up-fixed real estate and become a pinball machine (buying houses at lower prices and then renovating them to sell at a higher price), promoting your home with a virtual tour is a good idea. You can hire a professional to take care of this job for you.
Avoid being inundated by many surveys listing your property right online, answering basic questions from potential buyers like the following:
- The address of the property for sale
- The sale price
- Number of bedrooms and bathrooms
- Amenities included
- Honest shortcomings
- Clear (high resolution) photos
3. Hire an Experienced Seller-Real Estate Professional
You’re probably too busy managing your business and other investment and don’t have time to deal with long-term home sales. You can hire a real estate professional (real estate agent or real estate agent) who has experience in dealing with home sellers for your best interest.
Choose an experienced real estate professional from a good company by following these tips:
Real estate professionals are qualified to handle real estate buyers and sellers. Be sure to evaluate the testimonials from your prospects to avoid problems. Look for licenses, permits, certificates and membership to respected properties.
When you have limited your choices to at least two real estate professionals, interview everyone to get to know them. Find out who among them has the best gentle skills. Don’t hesitate to ask questions such as if they are experienced in helping investors in the past. You may prefer to hire someone you are comfortable talking to, someone you know real estate with a keen business instinct.
4. Make Necessary Repairs
Buyers always inspect for defects more than the comforts of a home for sale. So it makes sense to complete the necessary repairs to sell a house quickly. Hire a professional to inspect your home and make the recommended repairs or improvements. Don’t forget to get a certificate so you can present it to a buyer who may have doubts about the longevity of your roof system or other home appliances.
The necessary repairs you need to make to avoid a long home sale include the following:
- Roof Repairs: Repair cracks and holes or replace shingles and worn-out drains.
- Pipe Repairs: Repair leaks and clogged toilets, pipes and sinks.
- Electrical Repairs: Repair faulty wiring and replace old electrical outlets.
- HVAC repairs: Check for leaks, damaged thermostat, and replace capacitors.
- Graduation and Drainage: Drain regularly as needed.
5. Know the Perfect Time to Sell a House
Investors should always know when to strike while the iron is hot. In general, the best time to sell a house maximizing return is from May 1st to 15th. Properties sold in the first half of May tend to sell six days faster for $ 1,600 more than the average listing. Homes listed on Saturday get 20% more views during the first week on the market compared to homes listed on Tuesday.
The right time to list and sell a house can make a big difference in the sale price. Market circumstances can affect the perfect time to list a home, such as mortgage rates, tax incentives, and job growth. List your house on the market as early as April 1, depending on your location, or until July 15.
As an investor, you want to avoid a long-term sale of homes by selling your property to a buying company. Use digital technology to your advantage by promoting your list online and creating a virtual tour.
If you are too busy with your other investments, hiring a real estate professional will save you from the hassle of selling a home. Make sure you are dealing with an experienced real estate broker or real estate agent, someone who will protect your interests.
DHA Quetta Smart City New Booking Details, Location & Prices
Defense Housing Authority ready to start its ambitious housing venture “DHA QuettaAs part of the “Ushushal Baluchistan” initiative. The authority has launched reservations on residential and commercial plots, as well as farm houses on a 4-year easy fee.
DHA Quetta is planned to be a modern housing plan offering smart urban features to prospective residents. It is located about 7 km from Quetta International Airport and about 16 km from Jinnah Road HBL Chowk at N 25.
Follow the google maps site of DHA Quetta:
The rural area spans more than thousands of acres in various museums including Kateer, Samali, Gadazai Malazai, Karak, Tarkha Gordat Singh, Mehtarzai, Chashma Baleli, Chashma Achozai, Ms. Ghurghai, Ms. Khula, Hanna, and Tor Ragha, including uninhabited areas of the valley around Shaban Road up to Shamozai Dam.
This is the first official launch of DHA Quetta Smart City Phase 1, and bookings have recently opened for many residential and commercial options.
Application Procedure and Guidelines
Candidates are invited by Pakistanis across the country and abroad, so now you can take advantage of this exclusive investment opportunity to get a residential or business plot in the first “Smart City” Housing Project in Quetta. Affordable apartments of 1000-sqft and 1200-sqft will be launched separately later.
Housing is available in the following sizes:
- 5 Marla
- 8 Marla
- 10 Marla
- 16 Marla
- 1 Channel
- 2 Channels
Commercial plots are available in the following sizes:
Country Houses are available in the following sizes:
You will need to download a registration form online from DHA Quetta website because a unique number is added to the form each time you download it. Therefore, you need to download two or more forms if you want to request two or more plots.
Please note that you cannot make copies of one form, so simply download as many forms as you need. It is important that you read all the instructions on the download page of the form, as well as the conditions given on the form.
After you have downloaded the form, just take a printout and enter the required details. Challan forms are also attached within the form, so you will be able to submit your voting fee along with the form. Each plot size in each category has its own specific voting fee, which you will need to deposit to request a reservation.
The following documents are required from each candidate category to be submitted with the application:
- General public: Photocopy of CNIC
- Abroad Pakistan: Photocopies of NICOP, OPF Card or Passport
- Senior Citizen (Over 60 years old): Photocopy of CNIC
- Govt. Employees: Certified Copies of Service Certificate, Book and CNIC
- Retrd. Armed Forces: Certified Copies of Download Book / Retirement Order and CNIC
- Disabled: Certified Copies of Medical Disability Certificate & CNIC
- Next of Kin of Civil / Military Shuhada: Certified Copies of Death Certificate, Medical File, FIR and CNIC
Once your form is ready, simply go to any TCS Courier Center, or to any branch of Bank Alfalah, Allied Bank, Askari Bank, Habib Bank and United Bank through Pakistan to deposit your voting fee and submit your form.
If you live abroad, you can pay your voting fee online by online bank transfer or credit/debit cards. You must attach a copy of the transaction reference number/transaction ID with the form before you submit the form to DHA Quetta Head Office.
Here are the prices and payment plans of each type and size of plot and farmhouse in DHA Quetta:
Please note that given prices are exclusively development costs that will be applied later.
As you can see on the payment plan above, the payment plan lasts for more than 4 years. Once you succeed in the ballot, you must pay a 10% advance payment after 30 days of voting and a 10% advance payment after 60 days of voting. After that, your 16-month fee schedule will begin.
Please note that it is mandatory for a candidate to be an active taxpayer (other than overseas Pakistanis) if he wants to apply for a business plot, farmhouse or apartment size 1 channel or larger. So, non-registrants can apply only in residences less than 1 channel.
Watch DHA Quetta TV below:
Procedure for issuing separate transfer letters to several transferees
If there is more than one transfer, they may request copies of the transfer letter separately.
If an assignee wishes to deliver their share, all remaining assignees will be required to return their original transfer letters in order for them to be reissued.
USD and Pakistan Real Estate
USD and Pakistan real estate enjoy a very complicated relationship. Although they are a very small factor especially for the emigrants, not much is available according to research. However, if you understand how they affect each other, you can probably make a lot more money than you usually do. It is often understood that a rise in USD price is directly responsible for real estate growth. In 2018, when the dollar gained 35% in record time, real estate was also expected to grow. It usually functions as a hedge, however, it took almost 2 years and a global pandemic to realize real estate.
Today while house prices are about 30 to 50% higher than year 2018, in dollars the prices are similar to that of 2018. Now it is time to find out if this correlation has existed in the past or not and how it works usually plays out.
Taking DHA Lahore as an example, let’s look at the data we have:
USD – PKR exchange rate in 2005 -2007 = 60
2008 = 70
2009 – 2011 = 80 to 85
2012 = 90
2013 to 2017 = 100 to 105
2018 = 121
2019 to 2021 = 155
For the purpose of this study, we calculated average prices of DHA Lahore Phase 5, 6 and 7.
1 x USD = 60 PKR
Average price of DHA Lahore Phase 6 in 2005 = 8 Million (150,000)
Average price of DHA Lahore Phase 7 in 2005 = 7 Million ($ 116,666)
1 x USD = 80 PKR
Average price of DHA Lahore Phase 5 in 2010 = 10.2 Million ($ 127,500)
Average price of DHA Lahore Phase 6 in 2010 = 6.6 Million (82,500)
Average price of DHA Lahore Phase 7 in 2010 = 4 Million ($ 50,000)
1 x USD = 100 PKR
Average price of DHA Lahore Phase 5 in 2013 = 20 Million ($ 200,000)
Average price of DHA Lahore Phase 6 in 2013 = 15 Million (150,000)
Average price of DHA Lahore Phase 7 in 2013 = 10 Thousand ($ 100,000)
1 x USD = 105 PKR
Average price of DHA Lahore Phase 5 in 2016 = 29 Million ($ 276,190)
Average price of DHA Lahore Phase 6 in 2016 = 24 Million (228,571)
Average price of DHA Lahore Phase 7 in 2016 = 14.6 Million ($ 139,047)
1 x USD = 160 PKR
Average price of DHA Lahore Phase 5 in 2019 = 35 Million ($ 218,000)
Average price of DHA Lahore Phase 6 in 2019 = 28 Million (175,000)
Average price of DHA Lahore Phase 7 in 2019 = 13.7 Million ($ 85,625)
1 x USD = 160 PKR
Average price of DHA Lahore Phase 5 in 2021 = 40 Million ($ 250,000)
Average price of DHA Lahore Phase 6 in 2021 = 36 Million (225,000)
Average price of DHA Lahore Phase 7 in 2021 = 22.7 Million ($ 141,875)
Looking at the above data, it is clear that profits in USD vary depending on the cycle you are looking at. Keeping your property for long periods of time is usually not a very profitable option. Smaller cycles with a stable USD PKR period are where house prices have really offered good returns.
It is also clear that an increase in USD-PKR rate does not have an isolated effect on house prices. For example during the period from 2006 to 2011 house prices fell while USD – PKR rose from 60 to 80. However, the house prices actually cover the gap.
USD and Pakistan Real Estate 2021
While the real estate market is growing according to PKR, it has barely managed to gain the lost glory of the year 2016 in terms of USD. Rather in most areas, it is still struggling as Phase 5, which is lower in terms of USD than its 2016 high.
If you have invested dollars in Pakistan in the last 10 years and you have been consistent then no matter what happened, you have earned some money. Not as much as you thought you had or believed.
That is why renting generating real estate is the key to creating wealth. Plots really aren’t the way to go if you want to create real wealth in real estate. It is the effect of drops of the rents that enriches you, and not a piece of land that lies there for all eternity.
The dilemma is that anyone who invested in Plots in 2019 or 2020 is now at least 30 to 40% richer. Where those who invested in plots in 2015 or 16 or earlier are now just breaking through.
On the other hand, everyone who has invested in rental real estate during these times enjoys their wealth growth regardless of the time frame.
When the dollar rises and real estate falls, it’s time to buy plots. However, if you want to make money regardless of when you are investing in rental generic real estate, it is the only evergreen solution.
Low Cost Govt Housing Finance Scheme
Realizing The Dreams Of A Middle-Class Sector
The Government of Pakistan has recently launched cheap house financing to sacrifice aid to the petty bourgeois sector.
Although many banks face challenges to offer home lending with low interest rate, the government has taken measures to offer home loans with a mark-up rate of 5% (for 5 marla houses) and 7% (for 10 marla houses), for a set of benefits. to the banks.
The ruler. a cheap housing finance plan is structured so that people pay their rent for the house on a monthly basis. This system is based on basic bank loans that would have an interest rate 50 percent lower than those normally paid by banks to their customers.
Old or new projects and plot owners can get funding for the construction of their own houses. The funding must be supported for a period of no more than 25 years. The total amount of funding for cheap housing will be between 2.7 million and 5 million.
In addition, the interest rate subsidy is available from all banks and is divided into three groups:
Financing for house/apartments/apartments up to 5 marl or 125 sq. Ft. Available under group 1. Courtyards, fenced full area 850 sq. Ft. The feet and the maximum price under NAPHDA enterprises is Rs. 3.5 million.
Within this group, the maximum funding is Rs 2.7 million with a maximum tenure of up to 20 years.
Banks will charge KIBOR plus 250 basis points for the full marking rate. In the first five years, however, the GOP will have an additional payment to reduce the debtor’s debt to 5 percent and in the next five years 7 percent.
KIBOR is known as Karachi Interbank Offer Rate, which is a market benchmark for most retail lending banks and is established on a daily basis. These prices are listed regularly on the website of the State Bank of Pakistan.
Support for houses/flats/apartments up to 5 marl or 125 sq. Ft. Group 2 is also given. Most covered yards of 850 sq. Ft. Feet and Rs 3.5 million maximum prices.
Under this group, the maximum support is Rs 3 million, with a maximum tenure of up to 20 years. This degree assists individuals and households not eligible or eligible for NAPHDA projects to build or lease housing.
Banks can charge KIBOR plus 400 basis points with a maximum markup rate. For the first 10 years of Group 2, however, the subsidized rate for borrowers is the same as for Group 1.
The marking facility in Group 3 supports subsidized housing for poor families. Group 3 approves subsidized funds for the development or acquisition of more than 5 Marla (125 sq. Yards) and Up to 10 Marla (250 sq. Yards) houses/apartments/flats with a total protected area of 850 sq. Km. 1,100 square feet. . Feet and Rs 6 million maximum prices.
In this line of funding, the maximum funding is Rs. 5 million for tenure for up to 20 years.
Banks can charge KIBOR plus 400 basis points with a maximum markup rate. However, for the first five years and the next five years the GOP will have a brand subsidy to reduce the borrowed rate to 7 percent.
Loans are easily accessible in the world for the housing industry, although in Pakistan the procedure is very difficult which has contributed to the formation of a committee. The purpose of the plan is to provide people who could not afford their own house, with cheap housing. The rules on the building sector will also be simplified and the payment of loans encouraged.
Procedure for obtaining a water connection from CDA
The Capital Development Authority (CDA) has devised a mechanism to obtain water connections. The procedure is as follows:
- Submission of A-3 form
- Sort by the size of the plot
- Certified copy of donation letter
- Dully witnessed photocopies of NIC
- Certified photocopy of the letter approval plan
For news and blogs, visit Feeta.pk
Malir Development Authority- Here’s All You Need To Know About MDA
Looking at the complex managerial problems caused by the rapid expansion of the urban population in Malir Town, Karachi, the Sindh government established the Malir Development Authority (MDA) back in 1993. The authority was responsible for many roles and responsibilities to improve and arrange the local infrastructure.
So, today we will present a comprehensive overview of the Malir Development Authority (MDA).
Founded in 1993, MDAs have emerged with the core goal of developing the neglected residential areas and for restoration of the stalled development projects in Malir Town, Karachi. The authority was merged with the Karachi Municipal District Government (CDGK) in 2001. However, the CDGK was later dissolved leaving the MDA as an independent institution again.
Malir Town is spread to a large area having its one end in Gulshan Town while the other touches Gadap Town. Malir Development Authority is exploring new ways to initiate the provision of cheap housing in the area.
Has the Malir Development Authority (MDA) Introduced Some Housing Schemes?
As of now, the Malir Development Authority in Karachi has introduced 3 housing plans. The details listed below are:
- New Malir Housing Scheme-1
- Shah Latif City Scheme 25-A
- Taiser Town Scheme-45
The New Malir Housing Scheme-1 has extended to about 4000 acres in the northeastern part of the city. The project was launched with the aim of providing shelter to more than a million people belonging to low- and middle-income communities. The project is located in the center of Bin Qasim Industrial Zone on the main National Highway and is adjacent to Steelworks and a connecting road to M9 highway better known as Karachi-Hyderabad highway. One of the main highways of the country.
SHAH LATIF-URBAN SCHEME 25-A
Following the pattern of New Malir Housing Scheme-1, Shah Latif Urban Scheme 25-A has also been established to provide affordable housing units. This cheap MDA scheme has significant commercial value. Shah Latif Town is located about 20 minutes from Jinnah International Airport, Karachi. Shah Latif Town is also close to Landhi Industrial Zone.
TAISER URBAN SCHEME-45
Taiser Town is another most controversial project of the Malir Development Authority in Karachi. Taiser Town is also a low-cost housing plan with the goal of providing affordable housing options to low- and middle-income communities. The project covers a vast area of 20,000 acres.
Taiser Town is a very popular housing plan among real estate, especially in the recent past. One of the main reasons for its popularity and superiority over other MDA projects is that it was planned by an international company. Engineering Consultants International Limited (ECIL). The housing plan will offer all the basic amenities and facilities to its residents.
In addition, a 4-lane Highway the city’s main road link passes through Taiser Town. The road intersects with Jinnah Avenue and MM Alam Road near the junction of M9, Karachi-Hyderabad Highway. Therefore, we can say that Taiser Town is located in a well connected area.
What are the roles and responsibilities of the Malir Development Authority (MDA)?
The main roles and responsibilities of the Malir Development Authority (MDA) in Karachi are as follows:
- The authority is concerned not only with the development of the area, but also its role includes upgrading and prospering the existing infrastructure.
- All litigation issues on housing societies, projects and urban development in the area will be handled by MDA.
- MDA would be responsible for overseeing and approving the map of all housing developments in Malir Town.
- MDA is responsible for ensuring that the area is free of illegal interventions and they must carry out our anti-attack drives at regular intervals to counter this issue. Moreover, MDA will also monitor and counter the irregularities in the local real estate sector.
- MDA are parents of Sindh Government. Therefore, it is responsible for organizing election events and launching investment plans for all its affordable housing.
How to reach the Malir Development Authority (MDA)?
You can visit the Malir Development Authority headquarters between 9:00 AM to 17:00 PM The office is located in Gulshan-e-Iqbal Karachi. Bangalow No G-4 / B, Block 17
You can also contact MDA by phone at (021) 99244770
So this is our today’s comprehensive overview of the Malir Development Authority (MDA) in Karachi. We also addressed the main roles and responsibilities of MDA. We hope this information will help you better understand the purpose and purpose of this government owned real estate authority.
Capital Smart City Islamabad – Project Details, Location & Plot Prices
Capital Smart City is a new mega housing project situated on Motorway M-2 Islamabad sponsored by Future Development Holdings (pvt) Ltd. in association with Surbana Jurong, Singapore. It is a unique housing concept in Pakistan which aims to bring housing development standards at par with the modern world. High-end development infrastructure coupled with modern technologies makes a city smart, hence we call it “Capital Smart City”.
Read Also: Capital Smart City Launches Low Cost Plots & Apartments in Harmony Park Block
Capital Smart City is one of the biggest housing projects in Islamabad, and the first in Pakistan to introduce “Smart City Features”. It has been launched officially on October 6, 2019. Development work is currently in progress at a rapid pace allowing early possessions of a few residential sectors in its “Overseas & Executive Blocks”.
FDHL & HRL
FDHL is an international consortium of big development companies, which is a well-known and reputable name in the industry of housing and construction with an illustrious history spanning over 6 decades. Besides HRL’s expertise in mega infrastructure projects, i.e. Motorways, Dams, Power Plants, Highways and Airports; it has developed quality housing projects like Bahria Town and DHA. It has already delivered its own housing projects by the name of “Royal Orchard” in Multan, Sargodha and Sahiwal.
HRL has deployed the best of its professional expertise and resources in planning and development of this first ever smart city housing project in Pakistan. A number of international urban planning & design consultants have also been taken on board in order to carve out exemplary town planning in Capital Smart City. Some of the local and international consultants include Surbana Jurong, Cracknell, Harradine Golf, Troon Golf, DSA Architects, Arquivio Architects, AIP Studioworks, and Designmen.
What is a Smart City?
As the tagline goes “Smart is the way to live today”, Capital Smart City is an important harbinger of a revolution in the real estate industry of Pakistan. We have come a long way from the era of standard towns and gated communities which have cropped up across the country over the past 2 decades.
Today is the age of technology, hence deploying modern technologies and IT infrastructure for efficient and effective public services is what a “Smart City” is all about.
NOC and Legal Status
Capital Smart City is a legitimate & approved housing project. It has obtained initial and revised NOCs from RDA. The society is planned over an area of 55000 kanals of land, while ample land has been appropriated for future extensions in order to actualize the concept of a Smart City.
Initially, the development work has started over an area of about 15000 kanals of land. The development scope will keep expanding over time so soon as initial blocks are delivered and building construction work begins. FDHL has already acquired more than 80% of the total required land, while more land is being purchased for future extensions.
Read Also: DHA Smart City: Rumors or The Reality?
Capital Smart City is essentially an eco-friendly project. Special attention has been given to the preservation of the natural beauty of this verdant terrain, and multiple areas have been earmarked for parks, nurseries and plantations. Additionally, sophisticated technologies are being deployed for automated disposal of refuse, especially hazardous one, and treatment of sewerage water in order to curb pollution.
It is planned on the principles of self-sustainability keeping in view the projected influx of population in Rawalpindi & Islamabad over time. Smart technologies will help maintain sanitary environment by keeping a check on air & water pollution and reducing emission of carbon (CO2) and methane (CH4).
Capital Smart City is ideally located close to Thalian Interchange at about 9.2 KM distance from Motorway M-2 Toll Plaza. It falls in Mouza Chauhan and Mouza Mandwal with about 6 KM stretch of land facing the motorway.
Society is planned with a futuristic vision. The land is fertile with ample reservoirs of water in the form of Chauhan Dam, hence the availability of natural resources and planned connectivity to major road networks is driving people’s attention towards this suburban area of Rawalpindi.
Currently, the society has access from Chakri Road, while 2nd access will be from its dedicated interchange on Motorway M-2. Once the Rawalpindi Ring Road project is completed, it will be directly connected to GT road via Ring Road with easy access to all parts of Islamabad and Rawalpindi.
Following is the location map of Capital Smart City Islamabad:
New Islamabad International Airport, coupled with CPEC western route, is going to drive the future of developments in Islamabad. Therefore, the location of Capital Smart City is of vital importance.
Once the connectivity issue is resolved, a major chunk of the population and businesses will rush towards this newly developing commercial zone along the motorway. Direct access through Motorway M-2 Interchange will make it much easier for the residents to travel to New Islamabad Airport, as well as Islamabad City through Kashmir Highway Interchange.
Since this area is going to be the future hub of residential and commercial activities in Islamabad and Rawalpindi, a host of housing projects have emerged over the past couple of years. Close-by housing schemes include Al-Haram City, CBR Town Phase 2, PIA Enclave, Bin Alam City, Blue World City and FGEHF Thalian Housing Scheme.
The Master Plan
Capital Smart City’s master plan is meticulously designed by a Singaporean government-owned urban planner “Surbana Jurong“, which is renowned for designing smart cities across the World. The consulting companies include Future Developments Holdings Pvt. Ltd. and Engineering Dimensions Ltd.
The master plan map of Capital Smart City is attached below:
The master plan can be divided into several districts with respect to planned activities including education, health care, recreation, residence, and business. We will share detailed information on planned features of Capital Smart City in the appropriate section of this page.
As you can see on the master plan map given above, there are several blocks dedicated for residential, commercial and recreational purposes. There are over 45000 dwelling units planned in the society that will house over 360,000 people.
Maximum distance to public facilities in each block is approximately 500 meters. This mega development will create over 200,000 employment opportunities including over 90,000 IT related jobs to bolster the economy.
You can go through the brief description of each District of Capital Smart City below:
This is a dedicated area for mixed use residential, commercial and recreational activities. It will have shopping malls, offices, restaurants and retail business.
Health Care District
Quality health care services are of paramount importance in Capital Smart City. Be it a hospital, clinic, laboratory or any other health care services, the society has a dedicated district for such activities.
A big name “Agha Khan University Hospital” is rumored to have been in negotiations with FDHL to open up a branch in Capital Smart City, so it is a important place.
This area is specifically reserved for logistics warehouses, cold storage warehouses, logistics corporate offices, exhibition halls, technology parks, 3 star hotels, and restaurants.
This area is reserved for educational activities. National Defence University has already signed agreement to open up its branch. Although each residential block will have its own local schools and institutions, yet this district is solely meant for this purpose.
More quality schools, colleges, medical colleges, universities, libraries and vocational institutions will be established in this particular district.
Financial square is the major corporate business hub of Capital Smart City. All the banks will be established in this dedicated area. It will also have Financial Square Gate Offices, Conference/Exhibition Halls, Restaurants, 5 Star Boutique Hotels and Residential Apartments.
It is a mixed use commercial and retail activity area. It will have crystal water lake with floating village. Other features include Shopping Malls, 3D Cinemas, Concert Arena, Music & Dancing Fountain, Lake Walk, 4 Star Hotels, Restaurants, Offices and Residential Apartments.
This area is designed for leisure and entertainment activities. It will have street food truck park, birds park, theme park and restaurants.
This is a residential area comprising residential plots and villas meant for native resident Pakistanis. It will have dedicated spaces reserved for Masjid, family parks, and small commercial markets for grocery stores, food shops, etc. It will also have health care and education facilities within the block. Executive Block will be ready for possessions by mid 2020.
This is a residential block comprising residential plots and villas meant for Overseas Pakistanis. It will have its own commercial markets, Masjids, family parks, school and health care facilities. Overseas District 1 is the first area in Capital Smart City to be developed and handed over by first quarter of 2020, while Overseas District 2 will be developed subsequently and delivered by 2022.
Quite recently, a low-cost residential block named “Harmony Park” has been launched which offers 3.5 marla residential plots and standard one bed and two bed villa apartments on flexible installment plans. This block lies next to Executive block, and it will be accessible through Gate No.2 of Capital Smart City, i.e. Ex-National Garden Housing Scheme, on Chakri Road.
All residential and commercial amenities including parks, commercial areas, masjid, school and entertainment areas will be developed for the residents of Harmony Park. Master plan of this block is currently being prepared, and development is starting soon. Capital Smart City Harmony Park Block will be ready for living by 2023.
Capital Hills a special block dedicated for golf loving community. It will have an 18 hole golf course designed by Harradine Golf, and a Golf Club managed by Troon Golf. Cracknell is the planning consultant of Capital Hills.
Capital Hills is planned to have residential plots, luxury villas and apartments. Other amenities include Golf Club, Swimming Pool, Gymnasium, Sports Facilities and Restaurants etc.
Features and Amenities
Capital Smart City offers a comprehensive and integrated set of facilities and amenities to its residents. A whole range of facilities are planned in different parts and districts of the society including transportation services, seamless connectivity, sporting facilities, community buildings and smart city facilities.
We have briefly described below each of the exclusive features of Capital Smart City:
Capital Smart City has planned a comprehensive Bus Rapid Transport service for easy commutation of its residents. A separate lane will be dedicated for BRT that will pass through all parts of the society and across. It will have dedicated BRT Stations and it will commute between Islamabad and Capital Smart City.
Capital Smart City is a gated community, so it will have two main entrances. First one on Chakri Road, and 2nd one on Motorway M-2. The society will be secured by a boundary wall against intrusions.
It will have its own dedicated interchange on Motorway M-2, which is already approved by FWO and construction work will start from June 2020. Smart street lights will be installed on each road and street. Separate cycling and running tracks will be built along the roads.
Central Boulevard of the society will be 400 feet wide and it will have 18 lanes. Internal roads will be 150 ft, 120 feet, 100 feet, 80 feet and 60 feet wide. Streets will be minimum 40 feet wide. All roads and streets are well integrated in a systematic way, so that traffic flow will be uninterrupted.
The society will have approximately 40% open spaces for landscaping and gardening. A number of small and large family parks will be built across the society.
Different types of gardens will be developed including Flower Gardens, Linear Gardens and Heritage Gardens.
Each sector will have its sector Mosque for prayers and religious rituals. A grand jamia Masjid will also be built in the society for grand congregations.
There is a number of urban utilities which are inherently planned in Capital Smart City, which includes:
- Grid Stations
- Solar Parks
- Potable Water Treatment Plants
- Sewerage Treatment Plants
- Irrigation System
- Solid Waste Management System
- Security Control
- Fire Fighting System
- Police Station
It is the society office area planned in Capital Smart City. It will have sales gallery, restaurant and facility management services.
Smart City Features
Capital Smart City is a revolution in the real estate industry of Pakistan. It is introducing an unconventional urban development model that will turn around the concept of housing development in Pakistan. All the modern cities in the World like Singapore and Dubai have worked up a smart management system using modern technologies to improve the efficiency of public services.
Smart technologies will help the management of Capital Smart City to take control of the a number of things, such as environment, security and public services. The society will be able to monitor the quantity of Carbon in the air, and devise ways to decrease carbon emission to ensure a salubrious environment for the residents.
Special sensors and face recognition cameras will be installed at major points of the society to ensure safety and security of the residents. Certain areas/blocks will be accessible through fingerprint/card scans or facial recognition cameras only, so you can make sure that your security will be of paramount importance in Capital Smart City.
Capital Smart City plans to implement an integrated IT infrastructure to record and maintain an online database of activities within the community. Whether it be the schedule of public transport, or the schedule of events at the community club, the society will maintain up-to-date online record of all activities.
Most of the public services in Capital Smart City will be automated which include automated garbage collection & disposal, automated utilities supply, load-shedding free environment, automated traffic control system, CCTV with facial and object recognition, free WiFi zones, automated street lights and much more.
You can find more information on the project features and planned amenities in the brochure attached below:
Capital Smart City Brochure
Apart from the intrinsic features of Capital Smart City, it also aims to bring international investors and businesses to Pakistan in order to provide quality services and generate employment. During the initial days of its journey, some recognized institutions have signed agreements with FDHL to open up their branches in Capital Smart City, while more will be coming over time.
MOVENPICK Hotels & Resorts
Capital Smart City has begun to attract major investors and institutions, and a few have inked agreements with FDHL to open up their businesses and campuses in the society. Recently Mövenpick Hotels & Resorts has signed agreement with the society to open up a grand hotel that will be completed by 2023.
Harradine Golf has been given the task to design an 18 hole golf course in the Capital Hills Block. The work on the Golf Course project has already started. The urban planning of the Capital Hills has been undertaken by Cracknell.
Read Also: Capital Smart City Latest News and Development Updates
National Defence University
FDHL marked another major achievement when National Defence University (NDU) inked an agreement with HRL to open up an international university campus at Capital Smart City. The site for the university has already been finalized, while construction work will start in a couple of months.
FREIJ Entertainment International
FREIJ International is a globally renowned traveling operator of amusement parks and rides currently operating in 26 countries. The company has a long history of operating amusement activities, i.e. funfairs, carnival rides, skill games, traveling international circuses and much more.
FREIJ Entertainment International CEO Mr. Freij El Zein has signed an agreement with FDHL in October 2019 to establish first of its kind amusement park in Capital Smart City.
Trivelles Smart Homes
Trivelles International, a renowned real estate developer from UK, has launched its exclusive residential project “Trivelles Lake Boulevard” offering smart homes in Overseas Block. The company plans to launch more projects in future including commercial high-rise buildings, and residential apartments.
Capital Smart City Villas
FDHL has also launched a limited number of Smart Villas in Overseas and Executive Blocks. Ground breaking of villas has already been done, and construction contract has been awarded to Shangrila Hotels & Resorts
HRL started development work in June 2018, and the fleet and crew kept increasing over time. Currently, more than 400 vehicles are actively working at different sections of Capital Smart City, mostly in Overseas and Executive Blocks.
Read Also: Capital Smart City Development and Price Update October 2019
Overseas District 1 is the first area to be developed and handed over. There are 5 residential blocks in OS District 1, i.e. A to E blocks. Similarly, there are 4 residential blocks in Executive area, where development work is currently in progress.
Following are some latest development images of Capital Smart City:
If you look at the development progress, you might not be surprised to know that possessions are starting from the first quarter of 2020. Overseas block and Executive block will be the first to be developed and handed over, while general block and farm houses will follow soon thereafter.
Plot Prices and Payment Schedule
Capital Smart City offers a variety of options including residential plots, commercial plots, luxury villas and farm houses. Currently, the society is offering 5 marla, 7 marla, 10 marla, 12 marla, 1 kanal and 2 kanal residential plots and smart villas, 4 kanal and 8 kanal farmhouses, and 4 marla and 8 marla commercial plots on 3 years flexible installment plan.
Capital Smart City plot prices are comparatively a bit higher than adjacent housing schemes, and yet there is gradual increase in official prices periodically. The reasons behind higher prices are the revolutionary smart features and the shining track record of HRL, which encourage investors to put their trust in the project.
Following are the prices and payment plans of 4 kanal and 8 kanal farm houses:
|Plot Size||Booking||Confirmation||Installments x 12 Qtrs||Total Price|
Following are the prices and payment plan of 5 marla, 7 marla, 10 marla, 12 marla, 1 kanal and 2 kanal residential plots:
|Plot Size||Booking||Confirmation||Installments x 12 Qtrs||Total Price|
Following are the prices and payment plan of 4 marla and 8 marla commercial plots:
|Plot Size||Booking||Confirmation||Installments x 12 Qtrs||Total Price|
Please note that commercial plots have limited availability on fresh booking. If you want to buy old booking of commercial plot, you will need to pay good profit along with 20% down payment and few installments at the time of purchase.
Please note that residential and commercial plot prices are exclusive of development charges. Estimated development charges are 1 lac per marla for residential plots and 5 lacs per marla for commercial plots.
10% discount is applicable if you pay full amount at the time of booking, and 5% discount is applicable if you pay 50% amount. There are very limited options available for booking, so you should make your decision fast if you want to avail this opportunity.
Watch the detailed video presentation of Capital Smart City Islamabad:
Watch this amazing video of the Success Story of Capital Smart City which entails different development milestones achieved overtime by FDH:
If you want to book a residential or commercial plot or farmhouse in Capital Smart City Islamabad, please follow the procedure given below:
- Pay order of 10% down payment in favor of “Future Developments Holdings (Pvt) Ltd.
- Download, print and fill out this Application Form
- Attach 3 passport size photographs of the applicant
- Attach CNIC/NICOP copy of applicant and next of kin (nominee)
- Submit your form, documents and pay order to us to confirm your booking.
- Your file will be ready within 30 days and dispatched to your address.
Transfer fees for commercial and residential land
Capital Development Authority has prescribed tariffs for the transfer fee of commercial and residential plots. The information on the rates is given below.
- In the case of the residential plot, the prescribed rate is set at Rs.250 / per sq. Km. Id.
- The rate for model villages is Rs.150 / per sq. yd.
- In the case of family transfer of residential plots, the rate is set at Rs.5000 per square id.
- In the case of family transfer of a business plot, the tax prescribed by CDA is Rs. 10,000.
Purchase Property in Pakistan allowed for Overseas Pakistani Non-Filers
Property Purchase Decision in Pakistan, FBR (Federal Board of Revenue) publishes a circular in which they clearly allowed foreign buyers of real estate to buy real estate more than 5 million, advertised in news stations. The requirement to be a registrant of income tax returns for inheriting property above the declared price measurement was also abolished.
The main concern about lifting the ban is aimed at easing the investment conditions of the real estate market, which is seeking attention for the foreign Pakistanis. This ban was established by the previous government to try to increase the number of taxpayers.
Read: Investing in Real Estate: 9 Simple Techniques [Guide]
The detailed information on allowing foreign non-registrants to buy property in Pakistan was shared by a circular issued on October 24, 2018, saying that the restriction to non-registrant for purchase of property worth more than 5 million was revoked for legal acquisition of property and non-resident Pakistanis.
These limits will not apply to foreign Pakistanis who will create a bank certificate as proof of foreign currency sent by other countries through common banking means. The certificate was divided into 60 days the date of presentation or shipment of fixed assets estimated at more than 50 million PKR.
The banks were also given instructions to provide a list containing details of deposits collecting Rs10m or more made during the calendar month and a list of payment made by anyone against credit card bills collecting Rs200,000 or more during the previous calendar month. They will also provide a list of people who receive a benefit due to debt exceeding Rs1m for registrants and Rs500,000 for non-registrants along with information on tax deductions during the previous financial year. The information will be given monthly.
By improvement, the government has allowed taxpayers to reconsider a tax return voluntarily until December 31, 2018, along with the payment of a higher tax rate that is 25pc greater than the tax paid with income based on income. In case no tax is payable, the taxpayer will have to pay 2pc of the turnover.
Investing in Real Estate: 9 Simple Techniques
People who invest in real estate, some of earn millions of profits, and they have a strategy on how to succeed because real estate investing can be others that have not been successful and have lost their large investments, which results in big losses for them. There is a difference between the two groups. that is, the technique they performed.
- In-depth analysis of real estate industry.
- Capital Investment Groups
- Decision to invest in rental property
- Investment Trusts
- Real estate trading
- Make a smart investment
- Rent to own real estate
- Real estate hypothesis
1- In-depth analysis of real estate
The things you learn from this eBook are that you will never succeed real estate investor without being an in-depth analysis or research aspect of the industry. You need to collect the research material that helps you in every step of the way. If a seller approaches you, you need to have enough information about real estate sector. When a person sells their property through the real estate agent, they will have confidence in a buyer that they have knowledge around the industry. The seller has encountered many uncertainties, so your presence is hope for him and if you also appear unknowable before him, they will not have faith in you. A number of opportunities you have to create or present a good reputation at a vendor if you clearly guide him through the entire process. Build your confidence with an experienced background. This makes you more credible in the eyes of a salesperson. Keep it straight to the point so the seller never loses interest. You can inform through your offers to the seller, telling them the possibilities why this deal will be useful to them. Make sure the letter is not about you about them. If your buyer contacts you looking for help, you need to give them enough help. At that time you are lying and lacking their expectations, you will not be able to get the property. Give him a revival that you have completely done your research and are ready to guide them whenever possible.
2- Capital Investment Groups
Think of being a master that you put in a lot of effort. It has its advantage, but unfortunately, someone gets involved. People who want to ignore this boost have a chance to join and be a member of an investment group. When the companies buy the real estate and offer them the investors to buy parts of the real estate. In this situation, you need to spend a lot of time as a landlord focusing on your financing and making sure the property is well maintained. The company does this for you. In return, you have to pay a certain percentage of the rent you make each month. An investment group still manages to raise enough capital to earn a profit and pay off the property.
3- Decision to invest in rental real estate
One real estate financing strategy is investing in real estate leasing. Just find nice local properties and then rent them out so that you can charge a good rent that will help you cover all the expenses of the property. This is one of the most common adoption techniques that investors can use. Keep in mind that a landlord allows you to profit and have a stable cash flow. However, rent can also free you from the burden of loan repayments and pay off your mortgage payments as well. You have an assurance that you are welcome. A bad resident may not be able to pay. They can also be a risky person for your property if they damage your property by which you lose the real value of the property and have invested more money to repair it. This is a major risk of this investment method. In this kind of financing, you must first mentally prepare yourself to invest in this kind of real estate. Make sure you have to contact your tenants and complete a check with your property. Some people are uncomfortable and feel uncomfortable with your action, but it is still necessary.
4- Investment Trusts
In this case, it is mainly a matter of trading real estate as well as a stock exchange. The trust is to make the investors finance a purchase of real estate. When the price goes up, the trust will then sell the property on behalf of investors. If an investor needs quick money, they easily sell their assets through the trust. Financiers invest in both Residential and Commercial real estate.
5- Real estate trading
The technique that has worked for some financiers is business. The process is that you buy the property and then sell it with a profit, but for the most part a merchant buys very cheaply. Then they fix it to make it more profitable, then they sell it after only a few months and earn a profit. In real estate, this technique is called flipping property. However, some investors simply depend on their negotiation skills. They negotiate and buy real estate at a very good rate using this technique when they sell to get a higher fee and have sold their property. These investors are not even trying to increase the value of the property. They just sold it as well, they bought it.
6- Rent-to-own property investment
This arrangement is a kind of place where a resident makes rents with the expectation of owning the property after a certain period. This is an approach that many funds have adopted because it gives them a profit that allows them to pay higher rents. The investment risk causes tenants to rent before fulfilling the balance due and risk of being left with vacancies if you do not rent your property immediately.
People who have lived in a region where there is a university should consider this possibility. You generate more money than most rental properties and houses because every single room of the house earns a given amount of money. The place for such houses works even in an area that is not close to glue mosaics, like places where a lot of tourism. There is also a risk in this investment. Think that if your tenants are college students, it’s a great opportunity to spend a lot of money on repairs. Therefore, to avoid these problems, you can get a caregiver to help observe the property.
8- Real estate hypothesis
In relation to investing in real estate, there is action planning called a hypothesis. That means you buy a property when demand is low, then wait until they are higher and sell them. You can maximize a few dwellings to get your property. As with all hypotheses, however, there is no guarantee a market may not perform as well as you assume. So this will help you wait for your investment longer. You may even sell them at a lower price.
9- Make a smart investment
Many non-identical properties will come to market after the passage of time. Therefore, all this will not offer good financial opportunities. You need to be able to decide when to invest or when not to invest in real estate. You always need to stay up to date always. Stay connected in those local resources to help you know the availability of new real estate. This will help you exploit the best opportunities. Give opportunities on many properties in which you invest. For this, you can make an effective decision based on the investment aspect in real estate.
Pakistan grabbed 75th rank on the Global Real Estate Transparency Index
We have not just said that all progressive news for Pakistan is due to the next government. Even after the end of the former government, something happened that can only be called an incredible consideration of the action and all the repercussions of the Sharif government of an international organization on transparency.
In the recently announced Global Real Estate Transparency Index, Pakistan moved to the 75th place with the score of 3.99. In the time of past rule, Pakistan was on its worst place even behind the antagonist India and another neighboring country Iran. Against Pakistan’s growth in the rank which is 15 places, both the overhead countries have only increased their rank by one place with the score of 2.71. Unexpectedly, two countries that stood out in the news mostly in all corruption interrogations, Saudi Arabia and Pakistan, raised their rank. Economists also argue that this admirable progress may also be due to the regulatory institutions, front-end data collection, international market share, and publications of government bodies.
However the real estate has yielded remarkable performance behind this astonishing growth of Pakistan in the index. This sector has shown great progress along with the reforms, and different economic initiatives have become the main famous catalysts of this increase of the place. In addition, the tax amnesty program has also become the reason for improvement in the rankings. The most fascinating reviews of this increase have been made by officials of incoming government. They acknowledge that Pakistan is doing nothing to overcome corruption, but the other countries have performed poorly in recent years.
To help you find out what happened, after parts on which the Global Real Estate Sector Transparency creates its index. The organization measures the action and their efforts to remove those laws that encourage the corrupt elements. Market fundamentals and the dominance of a registered vehicle. Legal transaction process and sustainable developments are the factors that help any government improve its ranking.
Procedure for obtaining a property report
What is the procedure for obtaining a Capital Development Authority (CDA) property report?
A candidate will be sent first. This will require a certified copy of the candidate’s ID and also a certified copy of the grant letter. The processing fee will be Rs.500, which must be paid in case of a salary order.
FATF & Pakistan Economy – How Can It Affect Property Business
The Special Financial Action Plan (FATF) is the intergovernmental organization created in 1989 to address the legitimacy of the international financial sector, the war on money laundering, terrorist financing and other related challenges.
The FATF also has 39 branches, plus the European Commission and the Gulf Cooperation Council, two international organizations.
What Is FATF And Its Implications About Pakistan Economy
In June 2018, Pakistan was put on the gray list by the Paris global money laundering and terrorist financial watchdog and asked Islamabad to introduce an action plan to limit money laundering and terrorist financing by the end of 2019.
In August, debt-ridden Pakistan sought to remove 88 illegal militant organizations and their leaders from the GAFO’s gray list and enforced financial restrictions that included a 26/11 Mumbai attack by the leader of Jamaat-ud-Dawa (JeD), Hafiz. Saeed president, and Jaish-e-Mohamed (JeM) Masood chief Azhar chief and Dawood Ibrahim chief underworld.
Based on a check on Islamabad’s success in terms of global obligations and standards of money laundering and terrorist financing (ML&TF) the virtual plenary scheduled for 21-23 October will determine whether or not Pakistan is removed from its gray list.
In September the joint session of parliament amended about 15 laws to refine its legal framework, as mandated by the GAFO. The government has already submitted its report and responded to its comments, describing the implementation of the remaining 13 acts to the FATF and its related monitoring groups.
Opportunities Of Pakistan To Get On The Blacklist Or Not?
This month’s FATF meeting would discuss the implementation of Pakistan’s remaining 13 parts of the action. In the case of violations of terrorist finances related to the commitment of risk control and financing of terrorist sanctions, the GAFO will determine whether the government has shown correct remedies and sanctions.
The government’s key areas of intervention include the successful implementation of targeted financial sanctions, including avoiding the acquisition and transfer of funding, detection and freezing of property (movable and immovable) against all 1,267 and 1,373 identified terrorists or working for them.
If the FATF concludes at its meeting that Pakistan has not met its demands, the global body is likely to make the country part of the “blacklist” alongside North Korea and Iran.
The combined failures to close the gap between demand and energy supply have caused a circular debt caused by our regulatory, social, political and economic policies. Inefficiencies in the electricity market, such as losses of transmission and supply, incorrect electricity mix, unsustainable tariff system, inadequate legislative structure (with government IPPs fleeing through inflationary bills), fertile IPP benefits, and federal-provincial shortcomings were all added. . This gross inefficiency and inability of national stakeholders, especially economic managers, is now affecting the entire domestic supply chain.
FATF And The Role Of Property Business In Pakistan
In addition, the Government plans to convince provinces to revise valuation prices closer to market value to solve the problems of terrorist financing parked in the property. The FBR official said: “We have called on the Provinces to review current exchange rates closer to their market value,” adding that tax rates would be lower so that their tax impact is neutralized.
He said that in the next budget the revised DC tariffs will be published by the province’s financial bills.
The official said, adding that members of these sectors were invited to work together to meet global standards, “We don’t want to affect real estate.”
The official said, however, that the government will have to amend the anti-money laundering law to have effective power. “I don’t know when it will happen,” he said.
Because the state wants to make a policy in the real estate sector to get rid of black capital. Media sources are aware that Pakistan will set up a “Regular Real Estate Organization” to curb black money in the market. The government will ensure, on behalf of every criminal group or illegal machinery, that land and property are not relocated.
Formation Of A Regular Real Estate Authority
In addition, the formation of the Real Estate Regulatory Authority will be supported by federal institutions.
The new regulatory authority would force real estate contractors to join the authority and obey important documents from the companies.
Against the background of the SEC, a preliminary draft on the creation of the authority in accordance with GAFO requirements has already been drafted by the Security and Exchange Commission of Pakistan (SECP).
In the meantime, the Scientific and Legal Department of SEPT is working together on additional work.
However, problems related to land taxes are omitted from the scope of the authority.
A project may be submitted for approval by the next meeting of the Federal Cabinet for the creation of the Real Estate Regulatory Authority, according to Sources.
The industrial analysts and Pakistani real estate brokers are positive about the prospects of the real estate market as the Pakistani government is now paying attention to the problems of the real estate sector as soon as possible.
The government’s steps to end terror and its attempts to eliminate crime in the world are likely to soon strengthen the country’s governing laws and order. It will raise trust between aspirants and buyers of real estate and allow them to invest in real estate.
Summarizing It: Latest Property Alerts and News about FATF
The fastest growing economic field in Pakistan now is the real estate trade. For foreign and local investors looking for a place to put their investments, this is the real investment choice. Although 2019 financial crisis has significantly affected the real estate in the world, just like Pakistan, 2020 is the best investment opportunity as there are various improvements in this sector that are both buying and selling. Building and apartment prices are competitive and the time for expansion in this industry is right.
In short, the PTI government must realize that it can save the slippery riches only through economic compensations, prudent team changes, increased tax-free revenues, productive tax collections for purchases, a fixed tax structure for the informal economy. , Cost drop, constant service prices, export facilitation, healthy exchange cost, and FATF enforcement.
As we commission the public debt report and set up special groups on all things under the sun, it might also be time to take this very critical issue seriously.
This may be a test case that should be taken by the newly formed National Development Council, including the head of the armed forces and the regional prime ministers. Or, otherwise, every two months the blacklist threat will start to torment us, avoid investors and maintain confusion.
Let’s hope for the best!
For the latest properties, stay tuned to our website.
Naya Pakistan Housing Program Steps Forward To Apply 
Government Prime Minister Imran Khan 2018 is moving forward to fulfill his decision under the Naya Pakistan Housing Development program. The goal is to build 5 million homes over the next five years for the poor at extremely affordable prices. The main reason for reducing the country’s housing shortage by almost 10 million houses and annually 0.7 million houses added for the successful continuity of this project. Not only have they provided shelter or land, but this project is expected to create millions of jobs and nearly 30 industries that are directly involved, which is good news for the real estate sector, causing 6 million jobs and also increasing real estate demand. . related industries. Although there may be a strategy to attract a significant amount of foreign direct investment.
Launch of Naya Pakistan Housing Project
When the Prime Minister launched the project, National Database Registration Authority (NADRA) published the form to register Housing scheduled. Initially, this project is started in seven districts around Pakistan: Sukkur, Swat, Muzaffarabad, Islamabad, Quetta, Gilgit and Faisalabad. In the initial motive is to collect data that will form the basis of housing specifications, including projects, pricing and websites for the candidates. Some of the parameters set by the government, which may follow as,
First, you have to deposit a fee of Rs. 250 at the time of submission of form.
Candidates who do not own any independent residency in Pakistan will be preferred.
The person who applies in this schedule it earns only between PKR 10,000 and PKR 25,000 in a month.
The Form Submission Procedure:
NADRA has a plan to publish the Housing forms in a few hours when the Prime Minister is due to announce. You can easily download these forms via the internet from Nadra website. Then you have been filled in with these forms and sent within the defined time frame of two months, October to December 21st, to fulfill all their requirement mentioned below in the selected district offices.
Investment in Karachi’s Real Estate – Door to Endless Perks
Karachi, the seventh largest metropolitan in the world, is the center of endless opportunities. The city is known as “The City of Lights” and is often regarded as the city that never sleeps. Karachi, being the center of Pakistan’s economy, is home to about 20 million people. The city is helping business sectors of all scales from small to corporate giants develop and expand.
With many options for each sector, the real estate sector still dominates the city as the best investment domain.
Today we will discuss some of the countless benefits of buying a property in Karachi.
Property Investment Rewards in Karachi
Investments in the real estate sector in Karachi have many advantages.
Investing in a plot or house in Karachi has several advantages. The domain offers you convenient access to beautiful houses on the Arabian Sea coast, cheap apartments, luxury farmhouses, Shops in the city center, and much more. The proposals of the city’s real estate market are the beautiful mix of residential, commercial and mixed-use real estate.
Therefore, the main highlights of our research today of the benefits of buying property in Karachi are the following:
- Healthy Return on Investment (ROI)
- House on the shores of the Arabian Sea
- Convenient transportation access
- Business and Job Opportunities
- World Class Facilities and Amenities
- No need to rent Motels or Hotels
- Easy Access to Tourist Destinations
HEALTHY INVESTMENT INCOME (ROI)
Along with many other benefits, the Healthy Return on Investment (ROI) is a major asset of investing in the city’s real estate market. Karachi, as the country’s economic engine and largest city, essentially offers the benefits of ROI in two ways:
- Or you can rent your business or residence (according to the zoning laws of the respective area) to raise money
- Or you can choose to live and sell the property in the future to earn a profit, as property value in Karachi is appreciated over time.
Certainly, there are many factors to consider in order to earn the maximum return against your investment.
House on the shores of the Arabian Sea
Karachi being a coastal town has various housing plans along the coast. Top of the line DHA. Clifton followed by Korangi. Some other areas like Mehran Town, Allahwala Town, and Lucknow Society are also located close to the coast. Notably, the development work of the luxury ARY Laguna project is also progressing.
Additionally, buying houses close to the beach is one of the possible options to enjoy recurring profits and steady income. There are many real estate investors who have bought real estate close to the beach and are finally renting out their real estate in the peak holiday season to earn rental income. A house near the coast of Karachi opens many roads to beautiful resorts. There are a number of properties especially huts on the coast of Keamari, Hawks bay, and French Beach. These rental cabins on the beaches are hot cakes during the summer season in the city.
Convenient transportation access
Convenient accessibility is one of the main advantages if you aim to invest in the city’s real estate.
Karachi is the city that never sleeps, serving as the home of about 20 million people, the city scares visitors with its size and scale. However, as soon as you get in touch with the city and its different aspects, you will find yourself comfortable with the fast-paced life of Karachi. You will gradually realize that this city is not about crazy routines. In fact it is a fun place to live, and the abundance of different and convenient transportation options makes life easier in Karachi.
Rental and private cars, buses, rickshaws, international airport and stations have made the daily commuting within Karachi and to and from Karachi quite easy and convenient. In addition, the launch of equestrian programs such as Careem, Uber and Bykea further enabled Karachietes to travel across the city in a matter of minutes, as well as with various rides from luxury cars to Riskhaw and bicycles.
Business and Job Opportunities
Karachi is the center of the country’s economy. Being the main port city of Pakistan, Karachi has important importance not only for national but also for international trade. In addition, Karachi, being one of the world’s largest metropolises, consists of mega shopping malls, popular local markets, shopping malls, private offices, industries and different companies, which makes this city a center of endless opportunities for business and work careers.
The city is also home to Pakistan’s two main seaports. Karachi Port and Port Qasim. With Gawadar and Keti Bunder seaports on the same coast.
Therefore, we can take business and employment opportunities are two of the main advantages of buying real estate in Karachi.
World Class Facilities and Amenities
Karachi’s real estate industry offers a wide range of commercial and residential houses in the city. Whether you are interested in buying a property or looking for a rental property, you can enjoy all the properties with a great range of facilities and amenities.
Despite the fact that the city lacks in terms of infrastructure and suffers from severe power crises, Karachi is often the most preferred choice for individuals seeking affordable housing in the country. The main attractions behind this requirement are ease of access to employment and business, daily living elements, transportation and good educational facilities.
Moreover, if money does not take care of you, you can choose to live in some of the most luxurious regions of the city with a world-class standard of living and also with many different options.
From wholesale to retail markets, local shops to grocery stores, local markets to shopping malls, clinics to large-scale hospitals, from elementary schools to the country’s best universities, gyms to spas and gyms, all facilities and amenities are available in almost every region. of the city.
No need to rent Motels or Hotels
Owning a property in Karachi means you don’t need to spend unnecessary living expenses in the city. In fact your possessions can help you make money.
If you are not a local resident but a frequent traveler to the city for work or personal reasons, buying a property would help you avoid spending on temporary accommodation such as motels, hotels or inns. Additionally, when you’re not in town, you can easily rent your property to raise some extra cash.
Easy Access to Tourist Destination
Karachi is widely known as a concrete jungle occupied by massive apartments, plazas and skyscrapers. The lesser known fact about the city is that it also has many natural sights, natural sights, gardens, forests, resorts and beaches. The City of Lights has a lot to offer when it comes to leisure and places to help keep you active and fit.
Karachi is located close to some of the best sights. Property investment in Karachi would open up easy access to these goals inside and outside the city. Sights include less explored islands, mangrove forests, highway restaurants, fishing and boating sites. Out of the city tourist spots are Kirthar and Bhanbhore National Park. Last but not least, the gems of Balochistan like Moola Chotok, Kund Malir and Kanrach are far from a few hour’s drive from Karachi.
If you still haven’t cared about whether you would choose Karachi for real estate, here are a few more reasons why Karachi should be your best choice.
- Karachi’s Jinnah International Airport is Pakistan’s busiest airport, carrying about 7.5 million passengers annually. You can travel to and from destinations around the world.
- Karachi is home to Pakistan’s leading universities and research centers. Pakistan some of the best medical, engineering and business universities are located in Karachi.
So we tried to give you a brief idea about the advantages of owning a property in Karachi. We explained all the advantages, opportunities, facilities, comforts and unique features of the city. Before we finish our blog today, we strongly recommend that you kindly consider a few things before making any decision.
As with any investment, real estate also has assets and risks. You need to consider real estate, taxes, rental value, maintenance and other external factors before making an investment. You need to be clear about your medium-long-term investment strategy. if you are investing long-term in the city, you need to be well aware of the related cost and tax implications.
Meanwhile, if you intend to invest in the real estate market of Karachi. We recommend that you regularly visit our website for the latest real estate price in various parts of the city.
Airport Green Garden Islamabad – Booking Details, Location & Prices
Airport Green Garden is a new housing plan located next to Top City-1 Housing Scheme near New Islamabad International Airport. The company is approved by RDA, and currently it sells various sizes of residential and commercial plots at an easy fee.
Airport Green Garden is one of the best placed housing projects in Islamabad / Rawalpindi for future investment as it is connected to Highway, Airport, CPEC and Twin Cities of Islamabad and Rawalpindi. Considering the early stage of development, prices are quite reasonable and payment plan is quite flexible.
Airport Green Garden is ideally located on Kashmir Highway Extension right next to Top City-1 Islamabad. It will have another access from Cargo Road, which connects New Islamabad Airport to Thalian Road junction.
Following is the google map of Airport Green Garden:
This place will have all the major developments, including housing and commercial projects due to its centrality, making it one of the most important places to invest in Islamabad / Rawalpindi.
The following is the local map of Islamabad Green Garden Airport:
Airport Green Garden promises to deliver a quality housing project based on modern housing principles, including smart urban features and eco-friendliness. There are many trendy ideas for a modern housing plan that draw the attention of local and foreign Pakistanis, which is why the society is committed to providing exceptional facilities to its residents.
Here are some of the planned features of Airport-Residential Green Garden:
Airport Residential Green Garden is currently developing its project at a good pace, and a number of vehicles and staff are being deployed to ensure the timely delivery of the project.
Here are some pictures of the company:
Airport Green Garden currently offers different sizes of residential plots, i.e. 5 marl, 10 marl and 1 canal, as well as large farmland plots of 4 canal size on a 2-year easy delivery plan.
Reservations start from a 30% down payment, while a remaining amount is payable in 8 equal quarterly installments.
Following is the payment plan for Green Garden Airport accommodation:
Please note that category plots (corner, main road, park front) will cost 10% additional costs. In case of a double category, 15% extra costs will apply. A 10% discount applies in case of a 100% advance payment at the time of booking.
In terms of advertisements, Airport Green Garden offers different sizes of commercial plots in major commercial brands and mini-commercial markets. Same payment plan applies for business plots, however you can choose your location at the time of booking.
It is important to mention here that the company is currently backing up files. Plot numbers will be given by computer vote, which is held within 6 to 9 months. If you pay 100% payment during the booking, you will receive a 10% discount and you will be able to choose your plot location on the map.
Following is the high quality layout map of Housing Schema Airport Green Garden:
The Green Garden Airport Housing Scheme booking procedure follows:
- Download this backup request and print
- Enter required information about candidate and candidate
- Attach 2 photos of candidate and copies of CNIC / NICOP of candidate and candidate
- Make a Payment Order for a down payment in favor of “Airport Limited Green Gardens (pvt) M / S”
- You can also deposit a payment online to the developer’s account and share a receipt
- Send your documents and payment to confirm your reservation
List of Banks That Provide Home Loan For Pakistan Real Estate
While prices have been high for homes for sale, people still want to own their own homes. Although it is not shocking, it is a bit difficult to buy a house in Pakistan. A house that fits your budget and meets your expectations could be much harder to find.
You could give up on a smaller house or a job you didn’t want at first. All that makes it inevitable to borrow a home. A home loan from a bank has its own advantages.
We know that building a house in today’s era can be very difficult due to the rising cost of raw materials, labor and housing tax. You only know how to translate the size of the lot before collecting a loan for your house. Once you know the exact size of your land, then it is easy for you to get a loan with a suitable plan. Fortunately, some banks provide Pakistani citizens with home financing.
You only have to pay the bank a certain amount of money per month. This promotes and promotes the entire construction process. Middle class and upper middle class can enjoy the benefits of their own home, all with home financing.
To see which banks in Pakistan offer home loan services, we have mentioned very helpful and detailed features of each bank.
Advantages Of Obtaining A Home Loan Form Bank
Before we get started, let’s look at advantages of getting a home loan from a bank.
- High payments Permanent tenure: (home loans have the longest repayment, up to 30 years, among all types of loans, so that the burden of equivalent monthly payments can be reduced by extending the tenure). You can use a home loan EMI calculator to know how your home loan office is changing
- Assess the capital appreciation: So you can prosper with the time of real estate improvement.
- Save you from paying rent: They’re squeezing your monthly budget because rent is pretty high in subway cities. The EMI and families pay well.
- Tax benefits on a second home: In the case of a second home, you are entitled to claim a deduction for the total amount of home loan interest paid under Section 24B of the Income Tax Act.
- Unlike most loans, where loans cause down payment down payments, there are no down payment premiums for floating home loans.
- No down payments: That you can use it to finance part of your home loan and reduce the pressure if you have extra capital. In the case of a revolving home loan, however, down payment fees may be paid.
- Balanced Delivery Facility: In case of home loans, if your loan has a lower cost, you will transfer your home loan to a particular loan company.
- Easy to buy home dreams: For many people, home loans cannot be bought with their own money, as it can be repaid in simple monthly installments, and buying a home is much simpler.
Banks that offer home loan in Pakistan
Pakistani people spend their lives saving money to buy their own house. Yet only a few will truly realize the dream. In such a state of affairs, a mortgage can be a very useful option. It may not be ideal for everyone, but it should be considered for people with a decent monthly income, especially people who live in rented houses.
Here is the list of banks you should look for:
Islamic Commercial Bank (MCB) – Pyara Ghar
For a variety of uses, MCB offers a variety of financial options such as buying a home, building, building or purchasing real estate.
Their domestic financial alternative is available in all major cities like Lahore, Karachi, Islamabad, Faisalabad and Rawalpindi. For 2 to 20 years, MCB offers up to 20 million loans, except for industrial assets that you cannot get the loan from.
Simply put, Alfalah Home Finance offers home loans. The amount for the loan can be claimed in 36 to 240 monthly installments, starting from Rs2 million to Rs.50 million.
The applicant wants a minimum wage of Rs 70,000 and the age limit is between 23 and 60 years. CNIC, salary notes, bank balance and two years of employment for a current employer include the records required for loans. Loan papers
United Bank Limited (UBL) – UBL Address
Under the term “UBL Address,” the UBL provides support for purchasing and construction purposes. These loans are sold at two separate interest rates (so-called floating and adjustable).
You must be a Pakistani citizen and earn a minimum monthly income of 15,000 to apply. Note that although the combined income of both partners reaches 15000, a family can apply for this loan. Using this program, you can get up to 500,000 and larger loans. Brand prices range from 11.99% to 16.5%, and these loans are offered for a period of 3–20 years.
Bank Al Habib
Like other banks, Al Habib Bank also lends 300,000 to 20 million rupees for 240 months.
The minimum wage threshold is Rs. 60,000 and the average age is between 23 and 60 years. CNIC, payments and 12 monthly bank statements are the things needed for paperwork.
Askari Bank gives loans of Rs 500,000 million to Rs 20 million, charged in a monthly installment of 36 to 300 installments.
Like MCB, Askari Bank’s minimum wage requirement is Rs. 50,000. The age limit is 22-60 years and CNIC, salary invoices and a 12 month bank statement are the documents needed for further processing.
At the Meezan bank you are allowed to apply in 24 to 240 monthly installments for a loan amount starting at Rs. 500,000 to Rs. 50 million.
Meezan Bank offers loans to those with Rs. 40,000 monthly salary. The age range varies between 25 and 65 years. A pay cut, a 12-month bank statement and proof of work are expected for the coming years.
The Standard Chartered Home Finance division also offers loans. Like HBL, this bank also offers an online loan calculator for its customers. It is possible, in 12 to 240 monthly installments, to apply for a loan amount between Rs3 million and Rs30 million.
The financing available with Standard Chartered Bank is up to 75% of real estate valuation. The salary and age criteria are of Rs. 50,000 and Rs. 21 to 60, respectively. If you intend to secure an SC loan, bring your CNIC, your salaries and your employer’s 12-month bank account and a letter with you.
Booming real estate sector contributes just Rs23 billion in taxes
Islamabad: The rate served by Pakistan Profitability in the real estate sector, is mainly the free taxes, is only at Rs23 billion below 0.1% of the extent of national economy in the previous fiscal year. To deal with such competitive situations created by a sick taxpayer and a system of deprived taxes, Pakistan Tahreek-e-Insaaf (PTI) decides to contact the chairman of the Federal Revenue Board (FBR) of the private division.
Tax collection under Amnesty Scheme
Real Estate Sector, where huge black capital is positioned, 23 billion rupees was paid in the past fiscal year 2017-18. This involved a tax collected according to an amnesty plan for the district declared before the end of the Pakistan Islamic League government. A number of famous profiles of Pakistan are trading in real estate, perhaps it is one of the main causes of the failure of tax policies.
The remarkable tax served by the real estate market highlighted the obstacles that PTI management will manage to bring the sector below the tax range. Asad Umar PTI Finance Minister opined that FBR chairman of the private sector to face such barriers, reveals well-informed sources about the government. After that Asad Umar appointed Aziz Nishtar – a law graduate from Harverd University and a former officer of the Tax Services and Shabbar zaidi – a senior partner of AF Ferguson leased accounting firm.
The law allows the government to appoint an FBR president from the private district through a ruthless procedure. Therefore the officials, The PTI plans to elect a new president from the private sector, Ruksana Yasmeen, President of the Current President, may have asked to run until the new appointment is made.
However FBR employees often do not enjoy good condition, however some people know integrity well. Some are grade 22 officers, but have been limited by the PML-N government. At the end of the fiscal year, FBR shaved 5.2 billion in taxes from the sale of a real estate transfer. Government has estimated that it is 14% higher than the previous year. The FBR has created another tax of $ 13.2 billion in withholding purchase or purchase of property. Taxes collected by the amnesty program of real estate sectors grew 84% at the end of fiscal year. Tax collection of fair market value of the real estate has become a challenging situation. The PML-N established fair market prices for federal tax collection, the time when their government was established Prime Minister Shahid khaqan Abbasi took spirit and established a concept that government buys those properties issued at a value less than the market price. But FBR has not yet declared an announcement to give a result to the program and has not initiated an appearance for the appointment of a director general of real estate.
Real Estate Values
The values documented by real estate are 30% of market price, essentially due to the extraordinarily low amount of vice collector for the collection of stamp duty. Wrong tax policies made by government for which they blamed the parking of black money in the real estate sector. Now the authority is creating three kinds of steps that may follow as;
- Property assessment rates for tax.
- The second is the defined rates of FBR
- Last are the rates of the provincial vice-collector.
The main reason for the low tax collection of the real estate sector because all large housing companies trade without realizing the transactions, according to market specialists. FBR also failed to collect taxes from the builders and developers. The tax levied by these sectors was only 232.7 million rupees than the previous year when the FBR collected 190.3 million.