Anyone who has worked in the Real Estate Market understands how competitive it is. It necessitates a wide range of abilities that newcomers may not anticipate. It entails everything from dealing with evictions to negotiating contracts for waste collection, grounds maintenance, and janitorial services.
Aside from being an exciting and lucrative career, the road to success in the property management industry is a long and winding one. You must be well-versed and prepared for the drive if you want to get to your goal. It understands the difference between being a property manager in Pakistan and being a consistently successful property manager in Pakistan.
Consider these ten property management pointers to assist you in dealing with various challenges and scenarios in Pakistan.
The ability to organize is the first and most crucial talent required of a property manager in Pakistan. It includes talking with tenants, maintaining a complete record of each property, and keeping track of any forthcoming duties on a to-do list. It necessitates the competent and efficient management of obligations. In Pakistan, a property manager’s job requires handling many jobs simultaneously, necessitating excellent organizational skills.
To avoid miscommunications and potential difficulties with tenants, property managers in Pakistan must have policies and procedures in place. All regulations for tenants should be written down and supplied at the time of lease signing. Similarly, property managers must have protocols in place for a variety of situations.
In Pakistan, a property manager must check the state’s fair housing legislation on a regular basis. Property managers may be required to have real estate licenses in some states, while others may demand different certificates or licenses.
He must keep up to date and ensure that he follows all regulations; if he has any legal questions, he should see a property lawyer or an attorney. To avoid any rental troubles, use a search engine to look up the regulations for the state in which you plan to manage properties.
Many experts stressed the importance of selecting the correct tenant and that there is no substitute for a thorough screening procedure. In Pakistan, it’s critical to ensure that your tenant screens are as thorough as possible so that you can distinguish between excellent and unreliable tenants. The most significant tenants are individuals who can pay on time, take care of the property, and have no criminal history.
Meeting with the renter and addressing the issue helps resolve many tenant conflicts. Before threatening eviction and bringing in a lawyer, follow all property protocols. Noise violations, late rent payments, and management’s inability to enter the flat to undertake repairs are among the most typical complaints in Pakistan.
Because you may be responsible for negotiating lease agreements, collecting rent and utility payments, paying vendors, and tracking daily spending as a property manager in Pakistan, you must have a thorough understanding of financial management. As a result, you may utilize a search engine to look up different accounting software applications and rapidly produce reports, as well as keep an updated spreadsheet to track your earnings.
Marketing abilities are one of the most undervalued aspects of property management that are often overlooked but are equally vital. Marketing is necessary to advertise vacant apartment units and to be able to write compellingly about them.
Knowing how to write a professional property description, take high-quality images, and create exciting video tours may help you showcase the most significant features of the homes you manage and pique potential tenants’ interest.
Physical mounds of paper are significantly more challenging to sort through and file than digital records. You don’t need to waste time digging through your files for something specific, like a maintenance receipt or contact with a tenant, to find that the records are inaccurate or missing.
The usage of the Internet is expanding in tandem with the country’s advancement. The Internet is used for various tasks in today’s society, ranging from marketing to corporate administration. As a result, instead of fighting the times, it is wiser to evolve with them. A few examples are creating online ads for your vacant homes, finding tenants online, and researching the best maintenance companies.
It may appear to be Pakistan’s most basic property management idea, but your renters must know when the management office staff is available for non-emergency issues. Tenants may quickly notify property management when a maintenance call is needed, rather than putting it off and letting the condition in their apartment deteriorate, perhaps resulting in costly repairs.
Property management in Pakistan is a 24-hour-a-day job that requires constant attention. Property management may be both fascinating and profitable, but it requires both time and money. It’s a fast-paced, fiercely competitive market. As a result, it’s critical to have skills and abilities that allow you to stay ahead of the competition. These habits, along with self-discipline and drive, will benefit both your professional and personal lives.
Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Pakistan Real Estate Market.
For Investing In Gwadar Property, Gwadar is located on the southwestern coast of Baluchistan. It is a port city located on the shores of the Arabian Sea opposite Oman.
Gwadar has been developing its infrastructure at a rapid pace. It is known to be a pivot of China Pakistan Economic Corridor. The investment influx in Gwadar is unprecedented. Experts have marked Gwadar as a game-changer for Pakistan’s real estate.
When investing in any business project, one should do a background check and be aware of the pros and cons of the investment. For a profitable investment, one should do research beforehand. In real estate, one should search the area before investing. Some profitable areas for investing in Gwadar are the Sangar Highway scheme, New World City, GDA Housing Scheme, New Town Housing Scheme, and Gwadar Industrial Estate.
The investment area’s prominent features should consist of amenities including green areas, hospitals, education facilities, parks, entertainment facilities, fuel stations, and transport facilities.
One should invest in an area that is up and coming as it allows one to be part of the development before the prices rise. The idea goes well for Gawadar as it’s an up-and-coming project, and investment in its property will be profitable.
Gwadar has a location that is planned to be used strategically for trading purposes of the country. Gwadar is to become such that all exports and imports will pass through its deep-water port. The imports will be from China, and exports will be to and from Africa, the Arabian Gulf states, the Middle East, and Europe. There will be a facility of a floating liquefied natural gas facility built as part of the $ 2.5 billion Iran-Pakistan gas pipeline project.
The demand for property in Gwadar has been rising, and the indicator of it is the construction carried out in the special economic zones of the city. The inspiration for Gwadar has been taken from Shenzen. Shenzen is a zone of China. Before its development, Shenzen had a population of 30,000 and today consists of between 13 to 20 million.
If a fraction of what happened with Shenzen takes place in Gwadar, the demand for real Estate in Gwadar will skyrocket. The statistics show that in 2014 Gwadar consisted of a population of 85000 inhabitants, and its current population is estimated to be 250,000.
Scams have been common in all parts of a business; one should be cautious when investing. CPIC helps with providing all required documents on time after the completion of the purchase. Faulty or non-existent paperwork may be provided as original to scam the investors. To ensure that the documents are original, CPIC comes in handy.
Real estate requires making the right choices as an investor. It requires knowing one budget; how much an individual needs to spend, including extras and not just the purchase. The extra pay may include legal fees, tax fees, and other payments. The best idea is to keep extra cash on hand for expenses one may not have calculated or even thought of.
Once details are collected, one can get an idea of how much one can afford. One method to make a purchase at the best price is by being assisted by consultants and being transparent about one’s budget and costs throughout.
The first step of investing in Gwadar would be buying a plot of land. The next step is to actually start the construction of a home on the plot of land bought. The reliable move would be to hire tradesmen who can get done with the construction on time at a reasonable price.
Investing in land is a secure asset and won’t wear out, or get broken, stolen, or destroyed. A finite amount of land is available in Gwadar, and prices are rising per investment; invest in land to rent out or to use yourself.
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
The real estate investments has shown phenomenal growth in the year over the past 14 months. Most people seem confused because prices in most areas have already gained 60 to 70% and in some places even more than 100%.
Investing in the same areas that have gained so much lately seems like a risky investment and this raises the question of what are the best real estate investments you can make in 2021-2022?
While diversification is important, diversification is not. I don’t agree that in order to make money, you have to invest in every new property that appears on the map.
No one really has the time to study and analyze dozens of societies and observe them all the time. It is best to choose two or three best options and keep your focus.
This will eventually help you manage your assets in a better way and earn much more profit than investing anywhere and anywhere.
Real diversification is not about buying plots of land in different societies, but about investing in different types of real estate. Plots, Buildings and rental properties are the main areas you need to diversify your investments.
While just like other areas DHA Multan quite a bit has been gained in the last year, yet the prices of the plot have not yet reached their peak. Although it may not show big gains in the coming year, the possibility still exists.
A realistic estimate of 1 Channel plot in DHA Multan should be 17 to 20 Million and in the coming years DHA Multan will slowly move to its target price.
It’s only a matter of time, as prices continue to rise wherever DHA Much begins to develop.
Keep your focus on blocks that are less developed and you will gain a good amount. The problem is that you will have to pay development costs amounting to 2.3 Million, let’s see how it will most likely play out.
The example below is just an expectation of an average transaction and a return on investment in DHA Multan.
Price of plot since October 2021: 110 Lacquers
Transfer expenses and commissions: 5 Lakes approx
Development costs: 2.3 Million approx
Total investment: 138 Lacquers
Expected Plot price in 2 to 3 years: 200 Lacquers
Sales expenditure and commissions: 3 Lacquers
Return: 59 Lacquers
ROI: 14.25% per year approx
Although it is more likely that prices will remain stable for a year or more, it is one of the best and safest investments for a 2 to 3 year cycle in the real estate market from now on.
Over the past few years, construction projects especially luxury apartments have been hugely successful in Lahore property market.
This is the evergreen segment of real estate and has shown very high gains even between 2016 to 2020, when most people thought that real estate is declining, but in fact, only Plots, files etc have declined. Learn more about construction opportunities here
One thing to consider is the choice of the construction project. That’s why you need to study, analyze and carry out all the research just as you do when you invest in societies.
Projects are much easier to analyze and research and do not involve complex and lengthy procedures. In addition, if you search, you will easily find a cost-effective and valuable project that will give you very good profits over the years.
To make a forecast we will use an investment in the Sixty6 Gulberg apartment building. Imlaak did all the due diligence on the said project which was analyzed and recommended for investment.
Expected investment and return on Sixty6 Gulberg will most likely look like this:
Apartment size: 556 square feet
Price per square foot since October 2021: 23000 per square foot
Total Price: 128 Lacquers (Paid in installments in 3 years)
Transfer expenses and commissions: Zero
Development costs: Zero
Total investment: 128 Lacquers
Expected price in 3.5 years: 40000 per square foot
Total price after 3.5 years: 222 Lacquers
Sales expenditure and commissions: 5 Lacquers
Return: 90 Lacquers approx
ROI: 20% per year approx
DHA Gujranwala announced the Election on October 8, 2021, the file price of 1 Channel plot has already increased by 1 crore. Although this could be a bit of a risky game if purchased at a higher price.
However, if prices do not rise after Election, it may be a good time to look for an opportunity to buy. Although much will depend on DHA Gujranwala’s master plan and how it continues its future development, the market will respond positively to the vote due to overall positive market sentiment.
There are two possible scenarios, or the prices will jump immediately after voting, as the market sentiment is very positive and this is the most likely scenario or the prices will remain stable or crash a bit.
The second scenario, where prices remain stable or slightly crash due to selling pressure, is more suitable for investment. I believe the plot prices will reach between 17 to 20 Million in the next 2 to 3 years.
In many ways, the gain is similar to that of DHA Multan. However, DHA Multan remains my first priority from now on as it is ahead in the evolutionary progress.
If you are stuck between both DHA Gujranwala and DHA Multan, I would recommend DHA Multan and if you have the investment for more than 1 plot, then 1 each in both will be a good choice. However, a detailed analysis is only possible after a vote and it is not very far off.
Last but not least on this list is Gwadar, it’s like a wild card that can be played at any time. The risks are great but also the rewards, if you are one of those who like to double or triple or quadruple their money, then you can look at it.
The next two years may offer you a very good time to buy at very good prices, if the prices don’t go up earlier, they will eventually do so in the next 2 to 3 years.
The possibilities are endless, but I will only offer to invest in Sangar and New Town and strictly refrain from investing in other societies. We have all seen this happen in the last investment cycle.
The next cycle can take place anywhere from 2021 to 2024 and you may see at least a 100 to 150% gain. This makes it very difficult to predict the exact ROI so I will not go into that detail.
In the end, it all depends on your personal preferences because one size fits all.
However, overall, I feel that because plots and files have increased by almost 100% in about the last year or so, construction projects are the best available option offering the highest yields in the next two years. The investment priority would be as follows:
Stay tuned to Feeta Blog to learn more about Pakistan Real Estate.
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Property Area Total Price 30% Down 24 Month 20% On Property
Type (sq. Ft.) (PKR) Payment (PKR) Payments (PKR)
| Office | 325 | 2,600,000 | 780,000 | 54,167 | 520,000 |
| Office | 500 | 4,000,000 | 1,200,000 | 83,333 | 800,000 |
| Office | 540 | 4,320,000 | 1,296,000 | 90,000 | 864,000 |
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Property Area Total Price 30% Down 24 Month 20% On Property
Type (sq. Ft.) (PKR) Payment (PKR) Payments (PKR)
| Studio | 327 | 2,750,000 | 1,375,000 | 45,833 | 550,000 | |
| Apartment with 1 bed | 510 | 4,250,000 | 2,125,000 | 70,833 | 850,000 | |
| Apartment with 1 bed | 579 | 4,825,000 | 2,412,500 | 80,417 | 965,000 | |
| Apartment with 1 bed | 582 | 4,850,000 | 2,425,000 | 80,833 | 970,000 | |
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Property Area Total Price 30% Down 24 Month 20% On Property
Type (sq. Ft.) (PKR) Payment (PKR) Payments (PKR)
| Apartment with 1 bed | 450 | 3,375,000 | 1,012,500 | 70,313 | 675,000 | |
| Apartment with 1 bed | 452 | 3,390,000 | 1,017,000 | 70,625 | 678,000 | |
| Apartment with 1 bed | 512 | 3,840,000 | 1,152,000 | 80,000 | 768,000 | |
| Apartment with 1 bed | 639 | 4,792,500 | 1,437,750 | 99,844 | 958,500 | |
| Apartment with 1 bed | 643 | 4,822,500 | 1,446,750 | 100,469 | 964,500 | |
| 2-bed apartment | 697 | 4,897,000 | 1,463,700 | 101,646 | 975,800 | |
| 2-bed apartment | 761 | 5,327,000 | 1,598,100 | 110,979 | 1,065,400 | |
| 2-bed apartment | 764 | 5,348,000 | 1,604,400 | 111,417 | 1,069,600 | |
| 2-bed apartment | 785 | 5,495,000 | 1,648,500 | 114,479 | 1,099,000 | |
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
Beware, this article will change your mindset and real estate investments, so read it carefully while we reject the false rich trap of real estate in Pakistan. Read this carefully and if you have any questions please comment and ask.
After nearly 10 years of going through various cycles of real estate myself, I’ve realized that most of us don’t create any real wealth. Do we live in a paradise of fools and amass false wealth? This prompted me to do some research and analysis of the previous 15 years of investment cycles to find out what exactly we are doing wrong.
During our search for the truth about real estate, we learned that there is a huge difference between returns in USD and PKR. While you may think you made money in PKR, this may not be true for USD. Eventually, almost every other thing in your life and your purchasing power depends on the USD and not on PKR. This means that if your wealth does not grow by the USD, then you are not actually getting richer.
USD is therefore one of the most important factors of wealth creation. This is especially true for foreigners who invest in USD and expect to take their returns in USD.
Just to understand how important this aspect was, we will choose Phase 6, 1 Channel plot in DHA Lahore as an example and compare its price in various years since 2005 in USD. Most real estate investments follow a similar pattern with small variations.
Year 2005
1 x USD = 60 PKR
Average price of DHA Lahore Phase 6 in 2005 = 9 Million ($ 150,000)
Year 2010
1 x USD = 80 PKR
Average price of DHA Lahore Phase 6 in 2010 = 6.6 Million (USD 82,500)
Year 2013-2014
1 x USD = 100 PKR
Average price of DHA Lahore Phase 6 in 2013 = 15 Million ($ 150,000)
Year 2016
1 x USD = 105 PKR
Average price of DHA Lahore Phase 6 in 2016 = 24 Million (USD 228,571)
Year 2019
1 x USD = 160 PKR
Average price of DHA Lahore Phase 6 in 2019 = 28 Million (USD 175,000)
Year 2021
1 x USD = 172 PKR
Average price of DHA Lahore Phase 6 in 2021 = 42 Million (USD 244,000)
Looking at the USD chart for Phase 6, 1 Channel plot is very clear that long-term trading is almost worthless. I know a lot of people who have kept plots in these phases for over a decade and although you may have overcome inflation or PKR depreciation, you have not created significant wealth.
Most people have this idea that the longer they keep a plot or file, the more fruitful it is. Unfortunately, I hate to report this bad news, which is not the case. At least the property in Pakistan does not adhere to that law. In 2005 the plot which was at USD 150000 is only USD 244000 today. Even buying it in 2019 gives you a much better ROI instead of buying it 14 years earlier in 2005.
Actually buying the phase 6 plot in 2010, then selling it in 2016 and buying it again in 2019, and selling it again now in 2021 would be really quite lucrative.
The reason that devalues a long-term business is that someone who has held the same property for 15 years earns much less money than someone who has held the same property for 10 years. This same aspect makes long-term trading riskier, which can eat away at your wealthy creative endeavors like a termite.
The speculative trading cycles are the next option that most investors choose. It’s a really good choice but with just two big problems:
Speculative trading is much easier said than done and it wasn’t until 2016 when the recession hit the real estate that investors realized what they were doing wrong. A considerable portion of investment has stalled in some areas because some investors felt it was worth trying to wait and hold on. These areas included Broadway Phase 8 commercial, residential plots in various places such as Phase 7, 8, and 9 of DHA Lahore, Malikpur, Shivpur 4 marl commercial files of DHA in Phase 8 ex Park View, and later on Gwadar.
As a result with a huge share of investments stuck in recession, investors have failed to seize new opportunities that have emerged from 2017 to 2020 such as indigo highs, Goldcrest Mall, DHA Peshawar, Downtown Mall and DHA Multan.
Although the return on investment was much better than long-term trading, but still not very impressive, as it included long periods of recession with zero to negative growth.
For an argument, let’s assume that everything went well and being the smart guy who is Mr. X, he kept money safe in the bank from 2005-2010 and then invested in phase 6 plots in 2010, then took an exit in 2016, and then took entry again in 2019 and has taken an exit now when the average plot price is at 42 Million.
To achieve this, Mr. X needed to make seven decisions during these 16 years. These included selling in 2005 and then investing in reliable locations to earn at least 10% a year. Taking an exit from wherever your money was and then reinvesting in 2010 in real estate. Repeating the same thing again from 2016 to 2019 and then finally taking an exit in 2021.
The location for an error is almost nil, if Mr. X had taken an exit in 2013, it could have gone awry. Similarly, if Mr. X could not take an exit in 2016 the results would be different.
Finally, it was also important to carry out a profitable business during the recessionary periods between 20015-2010 and then in 2016 to 2020. Timely exit from these investments and regaining entry into real estate should be surgically accurate.
How many of you are confident that you can read the market and do this type of business in the future?
Rental income has always been considered a very essential and important source of income. However, not many people believe that it can enrich you as a speculative business. Some general problems you may encounter with rental income are:
Choosing a rental property that would give you at least a 6% rental yield and some good capital gains over the years can be a challenge, but it is much easier to execute than a speculative business. In addition, you now have the option to invest in real estate that can offer an 8 to 10% return on annual rent above your initial investment.
Rental cash flows may seem minimal when you start, but over time they build up and give speculative traders a run for their money. It won’t be wrong to say that slow and steady wins the race because you have a much better chance of being rich if you invest in rental properties instead of plots of land.
Now for the sake of argument let’s say, Mr. A, who is not as wise as Mr. X and was not sure if he can pull off that miraculous 16-year cycle with such precision. That’s why he decided to buy a property that gave him regular cash flows and average capital gains.
Mr. A has invested € 9 million in wolf ownership, which has given him an average of 10% in annual capital gains and 6% in rental income, which has increased by 10% a year. Ultimately, he invested his rental income in assets similar to where Mr. X kept his money during recessions to make 10% profits a year on them and the results will surprise you.
YES, it is quite true that Mr. A made almost the same amount of money as Mr. X and without ever having to go into the complications and risks that Mr. X took.
The magic actually happened because of the compounding effect on the rental income, this is one factor we never consider when we discuss rental properties.
The 16 years of rental income, which started at just 540000 a year, ended at 4 crores when accumulated and put together at only 10% a year. This is where most of you do your math wrong and only calculate the rental income and do not consider the impact of profits on your rental income.
The speculative business cycles of real estate and rental income are almost equal when creating real wealth. Renting is an easier and more stable way to secure your success compared to speculative trading. You can certainly mix them both or opt for rent alone, but I would never recommend just opting for a speculative trade.
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
This is why hiring a real estate agent would be the most appropriate approach to handle the stress – Buying or selling a house is one of the biggest financial decisions you will ever make in your life. While it may be tempting to avoid hiring one and sell/buy a home yourself, the costs still outweigh the benefits. For instance, you may not be able to devote as much time to potential buyers; you wouldn’t know how to market your property effectively, or you may not be aware of the nuances of the local market.
This is why you need someone who knows the ins and outs of the market. The right agent can ensure that your property is sold at the best price or that you get the best value in the market for a new place. However, with so many options available now, it can be difficult to decide which one to choose from. It can especially be tricky to filter out people who are looking out for your best interests from those who are just looking for ways to make quick money at your expense. Graana has compiled a few factors that you should consider during the decision-making process.
It takes time and effort to build a track record with quality inventory, so hiring someone who has handled several housing transactions would be your safest bet. A real estate agent should be able to make competitive offers or negotiate with sellers on your behalf – and that can only come from relevant experience. Skilled agents would also be up to date on the latest trends and patterns in the industry.
Internet sources now have a lot of information at our disposal to make informed decisions and avoid costly mistakes. Conduct thorough research on your prospect agent’s digital presence, for example, their listing materials website etc.
However, a long work history doesn’t necessarily mean that all the information provided would be authentic. To counter that risk, do a preliminary interview with them to get an idea about their strategy. For instance, ask them what they have sold in the last month; how much time they take to finalize a deal; what type of properties do they have the most experience dealing with, etc. You can interview multiple prospects before hiring the best prospect. The one who is most prepared for their presentation would be more likely to put in more effort in working for you.
Also research according to your individual needs. Just because one seems good at their job, it doesn’t mean they would be the right fit for you. For example, the priorities of first-time homebuyers may be different from those of repeat buyers, and they would want a real estate agent who has worked with similar clients.
According to Corey from Buy Yo Dirt, real estate is not an easy business, and the land is loaded with land mines that can wipe out your profits. That’s why it’s crucial to perform extensive research before diving in, so you’re aware of all the benefits and drawbacks of real estate investing. When looking for a property that is profitable, there are some crucial factors to consider.
There is no bigger credible factor than a referral from a previous, satisfied client. You can also ask your friends, family or other people in your network for an unbiased opinion. If you don’t have direct contact with any, ask the real agent to provide you with references before signing a contract with them.
You can contact other agents as well to see what rapport they have in the market. Online reviews are helpful too – they also give you a chance to check how the agent responds to negative feedback.
Usually, real estate agents are handling multiple clients at a time. Look for someone who has the ability to cater to you regardless of how many people they are dealing with. Also, ask upfront at the beginning about the availability of support staff so there is someone always at hand to answer all your queries.
Decide which qualities are most important to you and look for that in your real estate agent. For example, do you want someone who is available to talk on the weekends?
Be straightforward and clear about your requirements from the start. Technically, they should be asking you questions and taking your opinion every step of the way. Most real estate agencies already own the technology to filter and find suitable living options for you. However, if you are still not coming across a property that you want to explore or is within your price range, it means they are just looking to benefit themselves.
If you feel like you both are on different pages, you always have the option to find someone else; don’t feel obligated to compromise, especially if the agent is exerting any pressure on you.
If you are concerned about only a specific area (either for selling or buying), you can narrow your search to find an expert in that neighborhood. If you have friends or family in the mentioned area, you can ask them to recommend an agent too.
This would give you the advantage of being able to rely on someone who has a stronger understanding of property rates. According to Ryan from Sound home Buyer, a local area expert is crucial in the overall real estate process.
Buying or selling real estate is a long, complicated process with multiple factors involved, and you need someone who is honest with you about that rather than paint an optimistic picture. The associated risks of your decision should be openly communicated to you, backed with facts and figures in terms of investment analysis, long-term impact etc.
Take a closer look at the proposed contract before signing on the dotted line. It should state the terms you both have verbally agreed upon, including the commission the real estate agent would receive. Also, pay attention to the length of the contract – real estate is a seller’s market today so selling a property, for example, should only take 6 months or less. If the contract exceeds this time period, it would be best to hire another agent.
According to Bret Arrington From AIP House Buyers, if you want to sell your property fast, you should hire highly professional real estate agents.
In the hyper-competitive real estate market, it is best advised to hire a real estate agent to help you navigate through the long process of paperwork, negotiations and large sums of transactions.
Selling and Transferring Property in Pakistan is a regular occurrence in the country, where hundreds and thousands of people sell and transfer property. For those familiar with the process, the transferring procedure might just be a piece of cake. But for people who are new and confused about where to start, you’ve come to the right place.
Before we jump into the tricky aspect of this process, let’s clear the air about what exactly transferring property means and why it is an essential aspect of buying and selling property in Pakistan.
As per the law, any individual who owns a property should have the land or property verified under their name. The land should be under the designated ownership; only then can they sell the property to themselves. This is the basic requirement of selling a property.
In Pakistan, the transfer of any property generally consists of the owner transferring the title of the land from one person to the other. Transferring property can occur in multiple ways for various reasons, such as a mortgage, gift deed, inheritance, lease, exchange, etc. All such explanations are why transferring is an essential legal procedure.
All individuals who can sign a contract are authorized to transfer property ownership in Pakistan. According to the Contract Act 1872, a contract is claimed as a binding agreement between two parties, meaning that it is a legally binding document for any sale and purchase of land in the country.
The transferring process, although time-taking, is a simple and easy process with not many legal proceedings. We’ll break down the process into different steps to help you better understand.
This is the very first step of selling after you’ve successfully secured a client. This involves the buyer giving approximately 1 / 4th of the total price. If not the exact percentage, there is an agreed amount between the buyer and the seller to indicate an agreement from both sides of the party.
The Token (Bayaana) is given by the buyer with a series of negotiations and based on a contract, in which all details are specified. After this, the seller holds negotiations with any other potential buyers.
Usually, a specified period is set and written in the contract for the full amount to be paid. If the sale falls through, the token is returned. But if the full amount is not paid in the specified time, the seller has no obligation to return the token, even if the sale doesn’t go through.
A sale agreement contract is a set of required documents that include all information related to the seller and buyer involved in the transfer process. In Pakistan, these are the required documents that are attached with the Bayaana form:
To carry out the transfer process smoothly, you need to collect the following documents organized. You’ll need:
This list of documents can also include some more documents depending on the province, region, area, etc. (A lot of documents, we know, but verified property takes tough measures!)
Source: Pinterest
This is one of the essential and final steps of the transfer process. You’ll need a stamp paper to draft the deed for the sales; that will be the contract for the sale. You can choose. Buyers; will be required to pay stamp duty and taxes during this step.
Let’s take a look at this easy breakdown of the tax duty involved:
In Pakistan, the sales deed is usually recommended to be drafted by a property lawyer or a property agent aware of the bylaws and the rules involved in the process. This is a particularly safe option to avoid any complications that might arise in case you are doing it yourself.
Although, people who are selling and buying property as a business have become familiar with constructing the ideal draft for this deed, which can be done easily with the help of the internet. However, the common practice and recommendation are to take the help of a lawyer to avoid any future complications that may occur.
Source: Freepik
Finally, after a long process, you’ve reached the last step. You can take the sales deed (inscribed stamp paper) along with the required documents to the registrar’s office. From here, the sub-registrar will call both parties simultaneously and hear their verbal agreement for the trading of property.
You’ll need to sign the documents and put in your fingerprint to verify the final sale and complete the transfer process. Once this is done, the official will register the sale deed successfully, then the transfer process is complete, and the property is now successfully transferred to the buyer.
If you’re wondering what the person who helped you secure a client and help you proceed with the sale and transfer of the property is, there is a commission that the dealer/agent gets from the client. Although there are no specific laws to govern and record the work of real estate agents and dealers in Pakistan, the general practice remains a constantly changing variable and experiences changes from time to time.
Usually, the commission of property agents comes to around 1% of the total value of a property. This 1% of the value is each from the buyer and seller as the commission to the dealer. If the buyer and seller both have different agents, then both agents get to keep a 1% commission each from their own clients. Sometimes, property agents will ask for as high as 2% of the property value, or even lower than 1%. The amount varied according to the success, reputation of a property dealer, or property value.
Suppose you’re looking to learn more about the legal aspects and procedures involved in property buying and selling. In that case, you can stay connected with our blogs at Feeta.pk, where you can easily find comprehensive information to guide you through the real estate market.
Real Estate Strategies, Suppose you want to join the real estate investment community to grow your assets and plan your future to live on income. In that case, you must first evaluate the different alternatives to participate in the sector. Some require a more significant investment of time or money than others and experience or knowledge about the industry. In this blog, we bring you a list of real estate strategies for beginners that they can use to excel in the real estate industry of Pakistan.
To know more about these strategies, keep reading.
Vacant spaces, including land, are among the few assets in the world whose price appreciates over time. This type of investment gives value to areas of your property that are not occupied or of little use, such as guest rooms, parking lots, basements and ceilings. It works for both seasonal and long-term leases. It is ideal for beginning investors unfamiliar with market values or the practice of leasing entire properties.
In short, one of the best strategies to increase your real estate portfolio is by investing in vacant land.
It is the most common earning mode. In this case, you buy a property to lease it, either in the short term (temporary or vacation) or long term (more than six months). You can focus on having multiple tenants for a property in different periods (winter or summer, vacations, holidays, AirBnB style) or opt for the traditional lease to a single person for a specified time.
In this strategy, your focus is on acquiring and reselling residential properties in areas of most significant demand, close to high-traffic public spaces (supermarkets, metro stations, bus stops). It requires you to study well the prospects before investing and the regulatory plans of the target zones.
Under this strategy, you buy and lease properties and offer administration services, from paying everyday expenses to technical maintenance checks, such as plumbing and electricity.
In this strategy, you buy houses at a low price and need repairs; you completely renovate them and then sell them at a higher price. The challenge here is to manage knowledge and values of masonry, design and architecture work.
The investor invests in real estate indirectly through a private fund dedicated to buying or developing properties for sale or rent. The profits of the projects are distributed among the contributors of the fund as dividends. The industry initially began focusing on corporate buildings and offices, but later expanded into the housing sector.
In this case, the investor acquires the real estate in an auction process with the sole purpose of reselling it later at a higher price. This type of investment is attractive because the property went through the bank first. Therefore the property’s papers and debts are up to date.
Keep in mind that all these investment alternatives have natural limitations, such as the location of the property, its accessibility, and current demand, as well as artificial ones, such as co-ownership agreements for office buildings and apartments and condominiums debts associated with real estate.
Although it is not necessary to have studies or a degree to dedicate yourself to investing in the real estate sector, it is essential that, when you are in the business, you know basic concepts of the industry, such as the price/cost differential, capital gains, generation value, the profile of the investor and the type of property. The fact that you do not master the vocabulary of the world in which your company operates can lead, at least, that people distrust you.
In this sense, a fundamental behavior to be more and more informed about the business is to listen carefully to people associated with the company. In this way, you will not only be able to access privileged information about your clients, but you will also gain more and more confidence in your expertise.
This same practice will affect your pricing method. Whether you are based on margins, target prices, demand, competition or the highest possible value, it will always be essential to be informed to define the amounts of your business most appropriately.
Discipline always translates into success, and this habit has much more to do with being active and constant at work than being rigid and unable to react to changes. This is why, when we talk about having a plan and abiding by it, what you must understand is that before entering the real estate market you should take some time to design your business plan.
This plan will help you establish critical aspects, such as the vision and goals of your company. Still, it will also encourage you to protect your business with a series of rules that ensure the decisions you will make throughout your career as an entrepreneur in the field.
You will be able to establish specific things such as your target market, selection criteria and even the selection criteria of your properties. Put yourself before problems through a contingency plan that consider your investment’s risk analysis and the financial viability of a purchase or a sale.
The real estate business tends to be independent and lonely because it allows practitioners individual freedom and flexibility compared to other jobs. For the same reason, it is advisable to go to good allies to maintain a good network of contacts and grow in a highly competitive and agile market.
With allies, we mean reading books that teach methods to achieve financial “good health” or encourage the practice of habits to be effective in business, even attending courses and seminars designed especially for people who want to learn everything necessary to function. Successful in the world of real estate investment.
It is also advisable to interact with real estate agents and financial advisers to listen to their experiences and opinions, but above all to finish inserting themselves more and more into the beautiful and complex world of real estate.
Finally, a good idea to become a great real estate investor is to interact with ordinary people who are examples of success, either due to their personal experiences or economic fluctuations in business in general and within the field.
It is a type of inspiration that you can also find in opinion leaders with a good presence in social networks and participation in books, courses and seminars in the field.
So, these are some of the strategies that beginners should keep in mind while entering the real estate market. Make use of these strategies and excel in the real estate market of Pakistan.
Would you like to sell or buy a home at the best time of year? Despite the fact that certain seasons may be busier than others, the fluctuations in the real estate market are much more influenced by supply and demand than by the time of year. Keeping an eye on the housing market is one of the most important things to watch and watch out for whether you’re in a buyer’s or seller’s market in your local area.
Everybody wants the best deal on a new home, but it’s not always easy. In the wake of the COVID-19 pandemic prospective homebuyers have had a difficult time answering the question, “Why are houses so expensive at the moment?”.
In order to save on a new home and avoid overspending on the mortgage, savvy homebuyers try to time their purchases around buyer’s markets.
When purchasing a house, it is important to know the difference between buyer’s markets and seller’s markets. Let’s find out more with this blog.
Buyer’s markets occur when more homes are for sale than buyers are available. It means that more homes are listed for sale than there are buyers. Buyer’s market often refers to the state of a market where there is relatively more inventory than demand.
Lower home prices are an indicator of a buyer’s market. A seller’s home will often sell for around the listing price or even less in a buyer’s market. You cannot raise your asking price much without causing buyers to look at comparable homes offered by other sellers in your neighborhood.
Due to the volume of competition, sellers are at a disadvantage. Many sellers decide to accept a lower sale price instead of waiting for the right buyer to come along.
Seemingly longer than average time on the market is another sign of a buyer’s market. There’s likely a buyer’s market if the for-sale signs aren’t replaced with sold signs as you drive through your neighborhood. There is little chance of seeing a bidding war over a house on the market. With so many homes available, buyers are unlikely to spend more than the asking price.
During a seller’s market, the number of buyers overrules the number of available homes on the market or when there are more buyers than available homes. A single property often attracts multiple buyers, resulting in a bidding war. Selling your home in a seller’s market can be a great option because you can get a higher sales price than your listing price, or at least more than your bottom-line price (the lowest price you’re willing to accept for your house).
Be aware of the seller’s advantage when buying a home in a seller’s market. The advantage of getting a lower sale price on a property that other buyers are interested in is unlikely if other buyers are also interested.
An offer made by a competing buyer could cost you the opportunity to buy the property. The seller’s market is sometimes referred to as a renter’s market because sometimes prospective buyers must continue renting until they can raise their down payment and compete with other buyers.
According to a licensed realtor from FL Cash Home Buyers – the key to selling a property fast is to utilize as broad of a net as possible for buyers. The key to this is to find the right realtor. Realtors can help sell a house not only quicker but usually more profitably and as legally correct as possible.
A buyer’s or seller’s market can be determined without being an expert in it real estate. The easiest way to tell can usually be found by looking at current and recently sold listings.
A buyer’s market has the following characteristics
A seller’s market has the following characteristics
When there are limited housing options and a lot of buyers are interested, time is of the essence.
To increase interest in your property in a seller’s market, you’ll need to compete with other sellers.
Knowing where the market stands is beneficial when buying or selling property. There is less competition for buyers in a buyer’s market when there are many homes available. On the other hand, a seller wants to list their house during a seller’s market when there are fewer properties for sale and a high number of interested buyers.
It is still important to hire a real estate agent, regardless of the market conditions in your area. A real estate agent can give you a leg up on your competition, regardless of market conditions.
Choosing the right time to buy a home can be a major challenge. In a seller’s market, you will notice that homes disappear almost immediately after being listed. To avoid losing out on what could be your dream home, you should get preapproved as soon as possible instead of waiting until the last minute.
Several localities offer residents the option to join a homeowner association. These associations can be quite helpful in resolving minor community issues. However, they may come with several drawbacks that need to be considered. To understand the pros and cons of joining HOAs, you must first understand what HOAs are, what they do, and how they affect homeowners.
What are HOAs? A question that you might be wondering. The term simply refers to homeowner’s associations, which manage a community for the benefit of its residents.
Homeowners associations exist to manage residential communities, maintain curb appeal, and keep property values high. In addition to this, property owners’ associations manage residential communities. Home developers are responsible for initiating the association.
As a result of legal advice, the developer drafts the association’s governing documents. Bylaws, amendments, rules and regulations and articles of incorporation are among the documents.
Simply put, it would mean living in a house that is a part of an association. Although there are plenty of benefits to living in an HOA, it may not be suitable for everyone. Living in an HOA community, for example, gives you access to amenities you would not otherwise have.
As soon as you move into your new home that is registered with the association, you become a member. The HOA’s governing documents are automatically applied to you as an HOA member. The documents outline the dos and don’ts of a homeowner. Rules like these help preserve property values and keep neighborhoods safe.
Managing an HOA entails taking care of the best interests of the community, enforcing rules, and setting the amount for dues. A review of the HOA’s governing documents is recommended before moving into a homeowner’s association.
Here are some pros of HOA that can help you make a decision.
The aesthetic appeal of a well-maintained community contributes to the ease of living within it as well. A landscape that offers clean roads, trimmed trees, and blooming flowers, brings harmony and peace. The wellbeing of a community is important, and it is comforting to know that these services are in place.
The benefits of living in a community with an HOA include common community areas being maintained by the organization. Swimming pools, playgrounds, barbecue areas, and community centers are included.
The spaces can be enjoyed without having to worry about maintenance. In addition to maintaining the landscaping in front of each unit, some HOAs also take care of maintenance in the backyards of residents.
Property values are a primary reason people buy an HOA home. Your board helps you protect your investment and ensures its value remains the same. It is the owners’ responsibility to maintain their lawns, homes, and personal property in accordance with community laws. This offers several benefits for the homeowner as well as the community. The members of the board live in the same community, and they are just as eager to see it thriving as you.
Every homeowner must follow certain guidelines. Prior to signing on the dotted line, buyers should familiarize themselves with the governing documents. There isn’t much tolerance for unruly behavior in a typical association – from a wild party in someone’s backyard to disregarding architectural guidelines. The neighborhood has a board that mediates neighbor disputes and sets forth consequences when things don’t work out.
Let’s take a look at the cons of HOA.
Residents of the community must pay HOA fees because the association maintains the common areas and exteriors of homes.
The fees for these amenities vary from community to community. In addition, HOA fees are not set in stone, so they are subject to change from time to time. When the association is unable to collect enough funds to maintain the community, the association may have to increase the monthly fee.
Paying your HOA fees is an important part of living in a community. Fees must be paid by all residents of the community. If the HOA remains unable to collect enough money from residents, the property may not be able to be properly maintained. This can result in the association firing the property manager, causing the community’s appearance and condition to deteriorate.
The HOA sets requirements for your home’s appearance. Ranging from what type of front door and windows you can have to decide what color your front door or shutters can be painted – the association has complete control over your home’s appearance. You may even be restricted in how much outside decor you can use and how many vehicles you can park in your community. If you violate the community’s rules and regulations, you could receive a fine.
Poor management can lead to deterioration in some HOA communities. As a preventative measure, electing board members who have the association’s best interests at heart is the perfect way to avoid such a situation. In addition, many HOAs hire a management company to ensure responsibilities and duties are properly fulfilled.
A lien or foreclosure is always a concern when living in an HOA. There are certain HOAs that can place links on your property and then foreclose on it. The lien will only occur if your association due aren’t paid.
It’s important to consider the pros and cons of living in an HOA before making a decision. Paying monthly fees and adhering to the rules of an HOA community is necessary. You’ll also benefit from things like preserving your property value and being able to access well-maintained amenities (like landscaping). In the long run, you will benefit more from HOAs if you can tolerate the minor inconveniences they bring.
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LAHORE: The Lahore Central Business Development Authority (LCBDA) auctioned seven commercial plots, titled ‘Downtown Lahore’, worth Rs34.89 billion.
The size of plots auctioned ranged from 12 and 14 Channels. The event organized was attended by international and domestic investors.
The auction jury comprised LCBDA CEO Iman Amin, Brigadier (R) Mansoor Janjua, Colonies Secretary Jamil Ahmed. Sumair Abid and Kamran Ali Rehman.
While addressing the occasion, LCBDA CEO Imran Amin informed that developers were offered a five-year installment plan.
The event aimed to promote urbanization in the provincial capital. This activity will ensure economic growth and employment generation in the area.
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In a recent report published by the World Bank, the international body has identified potential in two out of three major areas of tax revenue collection. The major areas are mainly Services Sales Tax, Urban Immovable Property Tax (UIPT), and Stamp Duty, among which the latter two are exclusively related to the real estate sector. As per the report, these two areas can collectively bring Punjab’s real estate sector to generate revenue of up to Rs400 billion if it is incorporated with the modern techniques of digital mapping.
UIPT is duly gathered by E&TD (Excise and Taxation Department), whereas the BoR is responsible for collecting the stamp duty. Improved and digitized land records assist in improving system analysis and coordination of the two main land-related tax authorities ie E&TD and BoR, in addition to implementing Stamp Duty and UIPT. Because of this integration between the two land tax authorities, Punjab real estate has shown the prospect of generating the highest revenue in tax.
As per the WB report, Punjab’s urban housing gap is expected to reach up to 11.3 million units by the year 2047. This gap is being generated by the rising population, migration of people from rural to urban areas in the country, unnamed and abandoned lands, and a decline in the existing housing stock. An estimated 2 to 2.5 million units are being constructed in Punjab under the Punjab Housing and Town Planning Agency.
Mainland records in Pakistan currently fall under the responsibility of provincial Boards of Revenues (BoRs). All Register of Deeds, Mortgages and Property Transfers are maintained here, as per person-based records, along with the facility of cadastral maps. BoRs typically stemmed from only rural records initially. With the unplanned expansion of urban areas around the city center, eventually, city centers were also included in this. For private housing agencies and cantonments, the responsibility of keeping records of plots and properties is on their end.
The World Bank reports the effect of the absence of standardized systems in keeping records of property rights in urban areas, and there are significant challenges that are keeping the revenue at par. These challenges include lengthy dispute resolutions, overlapping records of registries, inequitable taxation and a lack of property rights information for authorities to perform their responsibilities. Women from urban areas face extreme marginalization in their property rights and loss of inheritance due to a lack of transparency in property ownership, cultural restrictions, forceful property transfers etc.
Federal and provincial governments have come to the realization that such challenges may hinder the possibility of achieving the goals of the Naya Pakistan Housing Program of constructing about 2.5 million low-cost homes in Punjab. To resolve these issues, the World Bank has proposed an amount of $ 150 million on their behalf to develop and improvise the ‘Punjab Urban Land Systems Enhancement Project’.
This expense breaks down into four components; $ 103 Million for cadastral maps for Land Records Management and Information Systems (LRMIS) and digitization of records, and another $ 3 million for Land for Housing, to make the process of identification and evaluation easier. LRMIS proves to be extremely beneficial for keeping track of property and land rights and combining it with cadastral mapping systems such as PropSure bringing authenticity and transparency to the digitized land record systems.
Digital cadastral mapping assists in the integration of multiple registrations of a land area and designates it under a single and unique identifier. This process helps in enabling a seamless process that allows clarity and authenticity in the real estate sector
The remaining amount of about $ 35 Million is designated for the establishment of Land Information Systems to combine the rural and urban land records. The project risks environmental damage posed due to mass construction. Still, it is the solution to the current housing and land record issues in the system.
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CDA Building Control South Director Shafi Marwat has ordered a crackdown against encroachments campaign against illegal residential and commercial construction in Zone Four and Five.
In this regard, the authority has formed two teams – with Deputy Director Javed Zehri in charge of the Zone Four team while Deputy Director Sajjad Bajwa will oversee the operation in Zone Five.
Director South Shafi Marwat has instructed the concerned teams to write a letter to the Enforcement Directorate to stop illegal constructions in the stated areas.
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Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.
-Franklin D. Roosevelt
This quote perfectly summed up the advantages of investing in real estate and for all the right reasons. Real estate is said to be one of the most lucrative investment opportunities around the globe and, Pakistan is no exception.
In Pakistan, real estate is considered to be one of the most common and widely practiced investment opportunities. Every year, millions of people invest in real estate because of its benefits and financial rewards.
And, we will tell you why you should invest in real estate.
We have jotted down some of the pointers that will help you understand the advantages of real estate investment in depth.
Real estate is one of the best investment opportunities out there because of the following reasons:
If you are planning on investing in real estate make sure to know the pros and cons of investing in real estate and tax on property.
Before making any kind of investment in real estate, do consider the following factors:
In real estate, there are high chances of portfolio diversification. It means you have many opportunities to invest in. You can invest in commercial properties, residential properties, and industrial areas and vice versa. Check out factors affecting the real estate market.
It is important to know about the different real estate options and how you can use them to reap financial benefits.
For instance, residential properties can be used for accommodation, rentals and bread and breakfast services. On the other hand, commercial spaces are solely dedicated to business and commerce.
Before investing, always consider the credibility and records of the real estate company. Make sure that their product offerings are approved by local developmental authorities. Also, ask around and try to know as much as you can about the company.
Also, if they have an online presence, visit their social media accounts and read the customers’ reviews.
Try to contact the people who have been the customers of that specific company. Ask questions and try to grasp as much knowledge as you can.
Sometimes, others can provide you with valuable insights as well. So, listen carefully and try to gain as much knowledge as you can.
Also, the ratio of the customer base is crucial because it tells you about the success rate and credibility of the company. The higher the customer base, the higher the worth of the company.
Transparency is the most important element in real estate. It ensures the validity and reliability of the company. Before financing any sort of real estate project, make sure that the operations and processes of the company are clear and transparent.
There are many real estate agencies out there that do not ensure transparency. For instance, they will not inform you about all the costs associated with the property such as maintenance costs vice versa.
Before investing, make sure that the investment is 100% safe and secure and that there are no hidden terms and conditions attached to your purchase. By safety, we mean that your money will be safe with the company and your money will not get blocked in any way possible.
A good investment is secure, gives you ROI and has high liquidity. If all these three elements are present in your investment, you are good to go.
If you are looking for transparent and secure real estate projects within major cities of Pakistan, we suggest you have a look at the following projects:
These projects are located at prime locations, making them stand out from the crowd. If you have low capital, don’t worry, because you can still invest in these lucrative projects. You can invest in these projects from 17 lacs and onwards.
The best thing about these projects is that they will provide you with annual estimate gains and a money-back policy.
The location of your investment can make all the difference. For instance, if you are investing in a shop in a commercial hub, your chances to benefit from the investment may improve by many folds. Similar is the case with residential properties. Residential properties will not only ensure a good resale value but they will also yield good rentals. Checkout invests in a shop or a house.
The State Bank of Pakistan (SBP) reported that the construction and housing sector has been consistently higher than nine percent over the past decade.
It is crucial to be informed and up to date with all the latest market trends and news. It will not only allow you to make a better and more informed investment decision but it will also help you to become a risk aversive.
Many real estate projects sound lucrative and attractive. However, they may come with a high price and risks. For instance, some firms have very rigid installment plans. Look for projects that offer you flexible and easy-to-pay installments.
Also, be clear about the down payments. Usually, if you pay a larger down payment, you will have to pay easy and manageable installments and your number of installments will also reduce.
Not all real estate firms offer a money-back policy. However, Feeta.pk Pakistan’s smartest property portal offers a money-back policy.
It means that if you think your investment purchased by Feeta is not making money, you can always sell it back to the company. Feeta is providing real estate investment solutions. No one offers such services in Pakistan where you get a secure and transparent investment opportunity with a money-back option.
These are some of the factors that are of pivotal importance. Make sure you consider all of these before making any kind of investment.
If you want to know more about real estate like 1 marla to square feet follow real estate podcasts, real estate books, real estate YouTube channels, and real estate blogs.
If you have any questions or confusion, let us know. We will be more than glad to help you out. Get to know the top insurance companies in Pakistan.
None of the information published in this article should be constructed as investment advice. We strongly advise our readers to always do their due diligence before investing in any project. It is the reader’s responsibility to know the laws regarding investments in their region.
Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Pakistan Real Estate.
Islamabad: The Capital Development Authority (CDA) opens bids for the development of Sector E-12/4.
As per the uplift plans, work on links roads involving major highways, laying streetlamps, and constructing drainage and water systems will be carried out. The lowest bids received were worth Rs289.805 million by one of the five contractors, revealed CDA.
There had been a delay in releasing development funds for the development of Sector E-12/4. Although, the current management of the CDA is providing significant attention to each of these sectors, resulting in construction projects being initiated.
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In order to attract inflow, the government is considering employing global advertising companies to promote the plan globally. A residential facility for Pakistanis living abroad will be developed in Park Avenue, Zone-4, Islamabad, as a component of the Roshan Digital Account idea. Remittances sent home by overseas Pakistanis are an essential component of Pakistan’s foreign currency reserves, per the chairman of the Interior Department and Capital Development Authority (CDA).
Prime Minister Imran Khan, the current government’s leader, has long valued the assistance of Pakistanis living abroad, who contribute billions of dollars in remittances. Transactions, asset acquisitions, and other activities fall within this category. The government has taken several initiatives to assist them, including starting a new initiative to give them access to better housing and planning to construct a housing complex for Pakistani migrants soon. You should describe everything else in this development program in this blog, and you should read it when you’re from Pakistan. A residential project for foreign Pakistanis will be developed at Park Road Zone IV in Islamabad as part of the Roshan Digital Account effort to satisfy the same aim of encouraging investment.
A recent meeting held on Tuesday, January 18th, 2022, was briefed on the decision. Housing Project for Overseas Pakistanis at Park Road, Zone-4, Islamabad under Roshan Digital Account Incentives was the title of the project’s synopsis. The remittance sent home by Pakistanis residing abroad is a critical element of Pakistan’s forex reserves, according to the chairman of the Interior Department and the CDA.
Around 2020, the Pakistani government established its Roshan Digital Account, a system that lets abroad Pakistanis living anywhere around the world invest in Pakistan to use all online payment systems services. Thousands of non-Pakistani residents created RDAs to stay ahead of the facilities, and vast amounts of money were invested in New Pakistan Certificates (NPCs) as a result of the movement. For Roshan Digital Account users, the Roshan Apna Ghar, Roshan Apni Car, and Roshan Samaaji Khidmat initiatives were implemented thus far.
The government’s initiative to construct a residential project for Pakistanis living abroad is also being launched through the Roshan Digital Account. The government hopes to lure billions in investment from diverse groups of Pakistanis living in dozens of other countries. Park Enclave Heights is the name of the development. This is a contemporary and revolutionary project, according to plans, that would build Pakistan’s capital using worldwide construction standards by world-renowned architectural firms.
Overseas Pakistanis are an important commodity for the country, and the revenue they bring home in the form of remittances is responsible for a large percentage of Pakistan’s foreign reserves. The project is being created within Islamabad to reward their accomplishments and give them the development of residential investment options back home. Parks Enclave Height will just be built off Park Road in Zone 4, just a few minutes from Islamabad’s Central Business District as well as the city’s new international airport. Everything else in the city will be well within residents’ reach thanks to a road network and transport services.
The project, which is already being built on a large scale, is expected to cost USD 700 million and would be carried out by Capital Development Authority (CDA) and the Islamabad Investment Fund Ltd (IDFL). That project should be completed in stages, with the very first involving the development of 6,000 flats.
The residential project for Pakistanis living abroad is anticipated to produce USD 2 billion in remittances. The project is well-facilitated, as well as the government’s development strategy emphasizes that. The 6,000 units that’ll be constructed will range in size from 970 sq ft to 2,300 square feet. The inventory will range from one to five-bedroom homes. Staff dormitories, a building department system, security monitoring, utilities, or other civic conveniences would be included in the project, allowing residents to maintain the life they have always desired.
For the advertising and selling of the units in just this construction project, this was recommended that worldwide marketing firms be employed and engaged. Let’s look at what marketing firms are looking for.
The marketing companies chosen will be in charge of marketing, promoting, selling, and offering other services to Pakistanis living in other countries. The requirements for marketing agencies must be shown in the open advertisement, which also will meet the Public Procurement Regulatory Authority’s standards (PPRA).
The applicants for the project must have operations in at least two different places. Companies must have an office in the United States, Australia, New Zealand, the United Kingdom, or even the Organisation Of Islamic cooperation. The authorities will also give the agencies an approved application form which would be delivered as a service to foreign Pakistanis with an RDA. For greater coverage, the authorities will post a similar application on their official websites. A fee of 1% of the price of each unit sold would be paid to organizations for marketing, promoting, marketing, selling, or other connected activities.
Applicants may apply for flats through marketing companies or by sending their application services to IDFL. The membership cost is USD 1,000, and units will be assigned on a first-come, first-served system through Roshan Digital Assets (RDA). The date and time of the joining fee payment will decide which applications are given priority. The vista of Park Enclave Heights comes to a close at this point.
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Lahore is a wonderful city with a distinct culture and personality. Anybody could be seduced by the city. In a nutshell, Lahore has something for everyone, which is why so many people want to relocate to the city. The need for houses in Lahore is growing in tandem with the city’s increasing population. Lahore is also attracting significantly fewer capitalists than before, due to the recent trend of investment in farmhouses. Everyone wants to be in an area that is not just safe but also links them to all of Lahore’s large cities. Raiwind is now at the top of the list. Raiwind is a prosperous community. The area is just outside of the main city. Despite this, the population of such an area keeps growing due to the availability of affordable new houses.
The road has become a center of infrastructural and residential projects due to its association with a particular. Raiwind Road today houses some of Lahore’s most creative residential properties, which have been built at breakneck speed. These home projects were designed with world-class features and secure gated surroundings in order to provide an excellent attainable lifestyle to their inhabitants. In this blog, I am going to discuss each of the most frequent and important residential projects on Raiwind Road.
At Raiwind, a number of developers have created new and premium residential buildings. As a function of such a step, businesses seem to become increasingly interested in the area. So, if you’re looking for a home away from the bustling and bustle of the city even while remaining connected to it, look at housing projects on Raiwind Lahore.
The residential developments we’ll be discussing are some of the industry’s most successful real estate projects. Additionally, they have gained permission from all appropriate authorities, making them safe and profitable property investing decisions in Lahore.
LV Heights is a beautifully designed vertical residential area that offers exquisite residences inside an upmarket and safe setting. In the excellent Lahore Villas district, which is immediately connected to the main Raiwind Road, the apartment building provides well-designed studio flats, 1- and 2-bedroom apartments.
With direct access to Raiwind Road, one of Lahore’s busiest thoroughfares, LV Heights too has a high value of the property and also provides inhabitants with exceptional navigational convenience. Adda Plot, Lahore Ring Road, Safari Zoo Park, Shaukat Khanum Hospital, and a number of great higher education institutions are within a near range.
LV Heights offers users a futuristic lifestyle it’s anything but ordinary as a high-end apartment complex. A 24/7 safety system, subsurface wiring, in-house gymnasium, laundry facilities, children’s play area, roof-top restaurant, devoted car parking, elevated lifts with achieving sustainability, and a swimming pool are some of the most notable factors that influence the development.
Tameer Developers, a well-known company in the development sector, is the mastermind behind this beautifully designed apartment complex. LV Heights is recognized as one of the top housing projects along Raiwind Road attributed to a combination of ground-breaking features. It will almost certainly lead to a great return on investment. Given the project’s wide scope, it offers amazingly low per-square-foot pricing, making it incredibly attractive to investors.
Icon Valley Phase II is Iconic Valley Developers’ flagship real estate development. Icon Valley Phase I, their previous development, was just a complete success. Icon Valley Phase II, per the developers, is set gonna take it to a whole other level. It really is a precisely constructed housing scheme that provides inhabitants with all the latest conveniences. This development enjoys a rather practical position as it is located upon the main Raiwind Road but is only a few minute’s drive away from numerous famous places and amenities like Lahore Ring Road, Safari Park, Shaukat Khanum, as well as the Lahore-Islamabad M2 Motorway, and others.
Icon Valley Phase II introduces relatively affordable yet fully-featured townhouses for the first time in Lahore’s property sector and is another key appeal of such an up-and-coming housing project. They are far less expensive than identical properties in many nearby housing projects. Considering their inexpensive cost, these townhouses offer access to those projects’ noteworthy facilities.
When you miss out on Icon Valley Phase I, it’s an even larger and greater chance. Real estate prices in the Raiwind Highway have increased by 40-50 percent in the last three years and are likely to go up more down the valley, increasing the housing scheme’s competitiveness. While Icon Valley Phase II is mainly a housing property, this has a lot to give to a wide range of business investors. The project’s real estate consists of retail stores, corporate offices, residential apartments, and, of course, townhouses. Property in just this project is moving rapidly as it’s been approved by the Development Authority (LDA) and provides flexible payment plans.
If you are looking for a modern and comfortable apartment then consider Al Hayat Residencia. This vertical residential project’s remarkable characteristics, combined with its popular area, make it a fantastic addition to that same Lahore residential real estate market. Al Hayat Engineers and Developers, another of the industry’s most renowned names, is just the minds behind all these high-end apartment projects.
This is one of the most luxurious residential developments in Lahore, located on Raiwind Road. Al Hayat Residencia was designed to be a safe, gated community with all the conveniences of modernity. The apartment complex includes one-, two-, and three-bedroom units with modern architectural drawings and is well-designed.
A community center, an indoor cinema, a mall, a rooftop restaurant, a comprehensive gym, and a material removal social aspect will all be included in the vertical accommodation plan. One of the features of the Residency is the main courtyard of magnificence, Al-Hayat, which allows you to completely enjoy the community’s existence. It will be a wonderful location for family and friends to gather and play with children in a protected manner.
This new home development is being built on Safari Rd, which is a good spot. Al Hayat Residencia is the wonderful and best-located apartment building in Lahore, with Raiwind Road just a short distance away. Lahore Safari Zoo and Shaukat Khanum Memorial Hospital are two of the big features in the area. You can also enjoy easy access to Lahore’s well-known Ring Road if you live in this grand-scale apartment structure.
All other investing prospects are based on living accommodations. Investors in the project might expect financial gains of up to 80% over the next four years, according to local real estate specialists. A simple payment plan is an easy way to invest. Due to a number of intriguing characteristics, the project inventory is reaching completion. Time is running out, and you must work diligently to obtain an apartment in this sophisticated building.
Platinum Homes
Platinum Homes, one of its most anticipated residential developments on Raiwind Road in Lahore, and expected to elevate the standard for contemporary apartment living in the city. The gated community was designed with edge lifestyle facilities in mind, assuring that its members have the highest convenience and safety. For round security surveillance system, a constant energy supply, a state-of-the-art water filtration system, well-paved roads, and enough green spaces are just a few of the amenities provided by such an up-and-coming home plan on Railwind Road.
The project’s excellent location, which is directly linked to the main Raiwind Road, provides direct access to many major highways, landmarks, and facilities, including Adda Plot Junction here on Lahore Ring Road, the Lahore-Islamabad Motorway M2, Shaukat Khanum Hospital, or the Lahore Safari Park. Platinum Homes’ housing estate includes fully prepared three-marla houses with attractive interiors and exteriors. This residential development’s residences have a known and understood space of 1,482 square feet and three bedrooms, making them perfect for modest homes.
Platinum Homes, the brainchild of Platinum Construction Ltd, has received all necessary approvals. Feeta.pk, Pakistan’s most reliable property portal, is advertising it. As a result of all these factors, it’s among the safest property investment choices in Lahore.
Regardless of the fact that Platinum Homes is built with low features, this project’s property prices are surprisingly low. Furthermore, as an investment, you can buy a home within the project with easy 2-year payment plans, adding to your convenience. Check out our Platinum Homes project description to get extra information on this very well residential community.
J Heights is envisioned to beautify Raiwind Road with its incredibly attractive exterior and outstanding property investment scope. That is a high-end project in Lahore that offers luxury apartments. The property is practically attached to the central Raiwind Road and is conveniently located close to numerous prominent monuments and amenities such as Emporium Mall, Orange Line Station and Motorway M2, etc.
J Heights is a new high-end housing property filled with all the delights and conveniences to let you have an unparalleled urban experience. A rooftop recreational area for major parties and fine dining with recipes by renowned chefs, housekeeping service, a prayer hall, a smart door system, protected parking areas with valet services, 24/7 security with CCTV surveillance, enclosed sports stadiums as well as the gym are just a few of the project’s top-of-the-line facilities and amenities.
If you’re searching for beautifully built luxury flats in Lahore that you can afford in monthly installments, J Heights is the place to go. It’s one of the primary reasons for the apartment complex’s astounding success since it’s presently one of Raiwind Cycleway’s more popular housing developments. You can choose between 1- and two-bedroom luxury apartments for investing in J Heights. The entire project’s interior has been equipped using high-end fittings and fixtures to create a sense of luxury.
J Heights is generating headlines not only for its high-end features but also for its excellent financial potential. Zameen.com, as a marketing and sales partner, has given it its seal of approval. The project has been carefully reviewed for any potential legal difficulties, and it is a completely risk-free investment. The property price on the Raiwind Main Road has increased significantly in recent years, implying that a rising project like J Heights inside the area will provide a good return and a strong rental return.
Meanwhile, if you want to read more such exciting lifestyle guides and informative property updates, stay tuned to Feeta Blog — Pakistan’s best real estate blog.
The COVID pandemic continued to plague the global economy in early 2021, providing challenges and opportunities in Panama real estate. As markets began to reopen, sales and rents in Panama increased as buyers saw the country’s established market as a safe haven in turbulent times.
As the year draws to a close, let’s take a step back and highlight the big news of 2021.
With home prices rising in the U.S., investors were looking for property investments that could provide real growth in the coming years. Panama was once again seen as a great alternative, providing stability, a dollar economy and high-quality properties below their market value and replacement cost.
Cryptocurrencies have begun to play a role in sales as more owners have expressed a willingness to accept bitcoin and other forms of crypto. It is no longer a theoretical concept, it is clear that crypto will play a more important role in the future. The government is also investigating legislation that would make cryptocurrency an accepted currency and create a regulatory framework for transactions.
This was the year when the man-made islands in the Gulf of Panama took their place among the most successful in the world. Sales were on fire, with Beach Club Residences, Seascape, Almar, Waterfront 21, and Casa del Mar joining the list of sold-out developments. Construction has also advanced on the key infrastructure, with Panama City’s marina and the largest water sports club opening for business.
Vacancy rates jumped and rates slipped at the height of the pandemic. That all changed in 2021. PPR’s property management department has seen occupancy rates rise to more than 95% and rental rates have steadily increased. There was a clear flight to quality, as apartments in upper buildings attracted competition. During the year, PPR’s property management department added 75 units under management as more investors turned to our trusted professional team to take care of their investment property.
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The pandemic has promoted the cancellation or postponement of an unprecedented number of developments. In 2021, there were almost no new projects launched and banks were reluctant to finance new construction loans. As a result, there was an increase in sales and absorption of unsold developer inventory, plus resale apartments that were long on the market ultimately sold. The decline in supply will have a profound impact on the market – and prices – going forward.
Investors have increasingly focused on already rented condominium portfolios in the buildings with the highest rental demand, such as Ocean Club in Punta Pacifica, Yoo Panama on Avenida Balboa, and the Regent in Costa del Este. Investors usually bought packages of 5 to 15 units of rented apartments in these popular buildings, generating cash flow from day one. These wholesale buyers focused on buildings with unique amenities and high demand from multinational executives.
Construction has continued on some of the most widely anticipated developments in Panama City. The list includes the Wanders & Yoo downtown, the La Maison de Fendi Casa in Santa Maria, and the Beach Club Residences on Ocean Reef. In many cases, buyers who have purchased units at pre-construction prices are about to realize significant increases when the buildings are finished and relocations begin.
Panama has established a new “Golden Visa” rule providing a way to housing for property buyers, a huge advantage in the international market. The visa was a big step forward and was one of the most discussed topics among PPR clients. The government has also implemented a new “digital nomadic” visa making it easier for remote workers to set up operations in Panama. Both policies have strengthened Panama’s image as one of the most welcoming countries in the world for international real estate buyers.
All these trends of 2021 should cross into the new year. If anything, they are likely to grow as the pandemic continues to fade and markets return to normal. With all these factors in place – and the economy expected to grow significantly – next year is set to be one of the best in the history of the Panama market.
Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Pakistan Real estate.
The residents of the Twin Cities are looking forward to the development of the Silver City Housing Project. It is now a unique investment opportunity for all those looking to benefit from their investment in an approved housing project. It is a safe investment due to its legal status and environmental status.
It is ideally located on Girja Road, which serves as a link between the housing society and the rest of the city. It is only 19 minutes away from Srinagar Highway and it is very accessible from Islamabad International Airport as it is only a 15-minute drive away.
It is also at a convenient distance from GT Road and M-2 Highway. It is because of its location that it is anticipated in the business community of the Twin Cities.
There are many landmarks near this housing society and this makes it a unique place to invest. The main landmarks are:
It is very accessible from all the main points in Islamabad. As it is only 19 minutes away from one of Islamabad’s major highways, the Srinagar Highway, it gives access to every major part of the city.
People can easily get to this apartment using local transportation or their vehicles because it is in close proximity. Accessibility is one of the main highlights of Silver City Rawalpindi.
Silver City is not the housing company in the area and there are other housing projects as well that compete with it. The most important housing projects that are under development are:
These major housing projects make Silver City a unique proposition because people are mostly driven by nearby landmarks. As it is surrounded by huge housing projects, it creates a sense of confidence in the investors that their money is safe.
Laraib Associate & Developers (PVT) Ltd. and SAREMCO Group is responsible for the development of Silver City Rawalpindi. They have previously been involved in real estate and have delivered 100% results to their consumers. It is one of the reasons that this housing project will also be successful, as these developers are working on their projects quite extensively.
The work is in progress in this place and the investors can physically visit the place for their assurance. Its evolutionary progress shows the interest of the developers in its real estate development. This project will be up and running soon, as development progress is on par with Blue World City and Capital Smart City.
Rawalpindi Development Authority (RDA) has legally cleared this land. It adds to the value of the property because people will have confidence when investing in this project. Investors should not worry about the legality of this project because RDA has issued a NOC for this project.
Silver City Rawalpindi has a long list of modern amenities and facilities that make it a complete package for everyone who is looking forward to investing in this project. The list of these facilities is:
Silver City is a 21st century wonder and they are modernizing the living standards in Pakistan. This housing project consists of all the modern amenities and facilities that are the requirement of this day and age. People are given several options to choose from because there are different plot sizes available in 3 different blocks.
Follow the official Silver City map:
The following are the residential plot sizes available in Silver City Islamabad:
Here are the commercial plot sizes available in Silver City:
The prices of this housing project are one of the most affordable in the region. Even after the approval of the GDR, the prices are well affordable by the middle class. Prices start at 20 lakhs and the reserve starts at 2.80 lakhs. There are 42 installments and a total of 4 years. This housing project aimed to provide value for money to all its investors and a reasonable profit in the end.
It’s very easy to book a plot inside Silver City Rawalpindi. Some requirements must be met for application. Here are the requirements for booking land in Silver City Rawalpindi:
Silver City Rawalpindi is a huge opportunity for anyone who wants to invest in a reasonable range. It is reasonably priced to target the middle class who are looking forward to owning property. It has become difficult to own property in this economy and if there is an opportunity like Silver City Rawalpindi, one should take advantage of it. It will provide huge returns in the future as the price goes up.
RDA has given a green signal for its development, which is already in progress. This legal support from the relevant authorities should strengthen the confidence of investors. Silver City Rawalpindi is among the most advanced housing projects and it is priced according to the lowest spectrum to facilitate investors.
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
The real estate industry is on fire. Earlier this month, the Federal Revenue Board (FBR) announced that they are reviewing the appraisal prices of real estate, including commercial, residential, apartments, flats and other areas of 40 selected major cities of the country.
Since the announcement, there has been outrage coming from realtors, realtors and investors. The results of the revised valuations were not immediately apparent, but in the following days, it became clear that the market would inevitably slow down. There are already reports of major deals failing with buyers withdrawing at the last second, and sellers are suddenly finding an obvious shortage of buyers for their residential and commercial plots.
Basically, the FBR increased its valuation of property prices for two reasons. The first is the very obvious one, which is that they will use this increased valuation to generate more real estate tax revenue. The second reason is that the real estate business in Pakistan has long been a well of black money, hyper-inflated values, tax fraud, and all other manners of shady practices.
While the market value of the real estate in Pakistan is high, its official value in documentation is usually cited as low enough in an attempt to keep taxes payable low. The new tariffs have tried to fix this very old problem – the official value of land is much lower than the real market value of the same land.
This problem has been around for some time. Its roots are in a complex system of DC tariffs and FBR tariffs that anyone who has had to go through the discontent of buying and selling city property will know. It is a system based on lies, deception, and attempts to avoid taxation. Through its property valuation, the FBR is essentially trying to put together the official index of property and the market value together.
In its current test, the board may have outperformed slightly, as there are many cases in which their rating was actually higher than the market rating. However, the FBR has already said that it will negotiate with stakeholders in the industry, which means that the extra valuation is simply there as a hesitation for when the government inevitably negotiates with the real estate industry to lower the valuation.
Please skip this short section. Mostly because it is not exactly related to the current problem, but is instead a brief comment on the nature of the real estate industry in Pakistan. In July 2020, Farooq Tirmizi made a story for Profit titled ‘Why (and how many) Pakistanis are investing too much in real estate.’ The story showed that although the obsession with real estate has understandable foundations and originates in an essentially good idea: the need to buy assets that generate inflationary returns has gone too far and is now beginning to create a drag on economics. growth, investment opportunities, and housing affordability.
Real estate in Pakistan is a strange obsession. It has been co-opted by some of the most shady characters this country has seen and because there are so few regulations, things very easily manage to get out of hand. Pakistani real estate agents and realtors do not really have licenses or exams that qualify them to do the job they are doing. It is easy to find hidden passages in documents and development is confusing and incessant. These are many of the traits that have made this sector the degenerate disorder it is today. It is also why it is accused of being used to park black money, and why organizations like the IMF and FATF are unhappy with Pakistan, which we will discuss further in the story.
In addition, the commentary also raises more questions about the fate of real estate in Pakistan. You don’t need to pass an exam to be a real estate agent, you just need a phone to make calls, make connections and be a good salesperson. This act itself pushed real estate to be traded like a commodity rather than a real estate asset. The revaluation, whether overestimated or undervalued, not only makes it difficult to park money but can eventually lead to the inconvenience of real estate. Maybe then homes may one day become accessible.
Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Pakistan Real Estate.
If you want to understand the pros and cons of HOA living, you must first understand what HOA is, what they do, and how they affect homeowners.
HOAs – what are they? This is a common question. The term simply refers to homeowners’ associations. An association of homeowners manages a community for the benefit of its residents.
Homeownership associations exist to manage residential communities, keep a limited appeal, and keep property values high. In addition to maintaining boundary appeal and preserving property values, associations of property owners manage residential communities. Home developers are the ones who initiate the association.
Following legal advice, the programmer drafts the governing documents of the association. Regulations, amendments, rules and regulations, and articles of incorporation are among the documents.
Simply put, it lives in a house that is part of an association of homeowners. Although there are many benefits to living in HOA, it may not be for everyone. Living in an HOA community, for example, gives you access to amenities you wouldn’t have otherwise.
As soon as you transfer to the homeowners association, you become a member. HOA’s governing documents are automatically applied to you as an HOA member. The documents outline what you are and are not allowed to do as a homeowner. Rules like this help keep property values and keep neighborhoods safe.
Managing an HOA involves taking care of the best interests of the community, enforcing rules, and setting the amount for fees. A review of the HOA’s governing documents is recommended before transferring to a homeowner’s association.
You will be able to get acquainted with the covenants and rules that must be followed if you relocate. Before you decide. Buy or luo house within the community, it is a good idea to determine the health of the association.
Here are some benefits of HOA to help you make a decision.
The aesthetic appeal of a well-groomed community extends to the ease of living within it as well. A landscape without rubble, trimmed trees and blooming flowers bring harmony and peace. The well-being of a community is important, and it is comforting to know that these services exist.
The benefits of living in a community with HOA include shared community areas maintained by the organization. Landscapes, swimming pools, playgrounds, barbecue areas and community centers are included.
The spaces can be enjoyed without having to worry about maintenance. In addition to preserving the landscaping in front of each unit, some HOAs also maintain landscaping in the backyards of residents.
Property values are a major reason people buy into HOA. Your board helps protect your investment and ensures that its value remains the same. It is the responsibility of the owners to maintain their lawns, homes and personal property in accordance with community law. There are many benefits to a homeowner, but there are also many benefits to the community as a whole. The board members live in the same community, and they are just as eager to see it thrive as you are.
Every homeowner should follow certain guidelines. Before signing on the dotted line, buyers should be familiar with the prevailing documents. There is not much tolerance for uncontrollable behavior in a typical association, from a wild party in someone’s yard to a distraction from architectural guidelines. The neighborhood has a board that mediates neighborhood disputes and presents consequences when things don’t work out.
Let’s look at the disadvantages of HOA.
Residents of the community have to pay HOA fees because the HOA maintains the common areas and exteriors of homes.
The fees for these amenities vary from community to community. In addition, HOA fees are not fixed, so they may change from time to time. When it does not raise enough money to keep the community going, the association may have to increase the monthly fee.
Paying your HOA fees is an important part of living in a community. The state in which you live will determine whether you can be executed for failure to pay HOA fees. The amount you owe will get until you pay, even if your state does not allow foreclosure in these circumstances.
Fees must be paid by all residents of the community. If the HOA cannot raise enough money from residents, the property may not be properly cared for. Because of this, a community may have to fire its property manager, making the appearance and condition of the community worse. The impact can be negative on the value of the community.
In the event that the monthly HOA fee is affordable, paying these fees may seem like a minor inconvenience. You should understand, however, that the HOA sets requirements for the appearance of your home regardless of whether you agree with the fee. In addition to what front door and windows you can have, they decide what color to paint your front door or shutters. You may even be limited in how much exterior decoration you can use and how many vehicles you can park in your community. If you violate the rules and regulations of the community, you could be fined.
Poor management can lead to deterioration in some HOA communities. As a precautionary measure, electing board members who have the best interests of the association in mind is the best way to avoid such a situation. In addition, many HOAs hire a management company to ensure that responsibilities and duties are properly met.
Care or execution is always a concern when living in an HOA. There are certain HOAs that can put worries on your property and then exclude it. The custody will only take place if your membership fee is not paid.
It is important to consider the pros and cons of living in an HOA before making a decision. Paying monthly fees and adhere to HOA community rules are required. You will also benefit from things like preserving your property value and being able to access well-preserved amenities (such as landscaping). In the long run, you will benefit more from HOAs if you can tolerate the small annoyances they bring.
In the same way, homeowners can benefit from HOAs, HOAs can benefit from professional management services and vendor assistance. Browse the comprehensive HOA Management directory to find the right services.
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
The civic authority of Islamabad has devised a procedure for the issuance of separate transfer letters in case of more than one delivery. The emission procedure is as follows:
In the case of more than one delivery, different copies of the Transfer letter may be obtained. In addition, if a co-signer wants to deliver their share, all other co-contributors will have to give their original transfer letters in order for new transfer letters to be published.
For news and blogs, visit Feeta.pk.
The sale of virtual lands is taking place every day in Decentraland, but a recent purchase by property investors has taken virtual land investment to a whole new level. According to Yahoo Finance, 259 plots or 16 acres of digital land purchased from Republic Realm cost more than $ 900,000, the most expensive purchase of NFT land ever. NFTs, also known as non-fungible tokens, have been a hot financial investment topic in the art industry. However, in recent months NFTs have become increasingly popular in the real estate investment sector. The ability to buy and sell property on blockchain-based platforms such as Cryptovoxels and Decentraland indicates that blockchain is reforming the real estate market. If you’re looking to invest in this trend of blockchain-based real estate, read on to learn how NFTs could transform a property investment.
Strangely, many investors invest large sums of money in virtual real estate. As the name suggests, virtual properties are untouchable plots of land or plots of land that exist only in a blockchain. It is worth noting that the price of virtual land or fields depends on how much one is willing to spend. For example, Mars House, a digital property sold for $ 500,000 on an NFT marketplace.
A few months later, investors completed virtual land sales worth $ 3.5 million in The Sandbox, a metaverse on the blockchain. If you’re like a lot of people, you may be wondering why to invest in an NFT farm. For many investors, the uniqueness and ease of property transfer from the seller to the buyer provide added value to their investment.
In addition to making virtual real estate a reality, NFTs could change the mortgage industry by improving the home loan process. The current regime of getting mortgages is expensive and labor intensive unless you are lucky enough to find a mortgage lender committed to providing excellent customer service. According to The Home Loan Expert, a customer-centric mortgage loan process should be streamlined from start to finish. This means that the lender has the entire home loan process under one roof. This way they can close your home loan quickly and efficiently.
Because the real estate sector encompasses NFT, lending on home loans could be less stressful. This is because tokenizing property rights facilitates the process of managing and trading homes. Ideally, you can buy a property from NFT and lend against it immediately at a 2.4% interest rate through products like Defi and TradeFi.
As an investor, you can use NFTs to tokenize your physical property to create a representation of ownership in the digital space. Doing so allows you to sell part of your property to a small or large group of investors. Because NFTs are sold in a decentralized marketplace, you need to issue tokens to real estate buyers. If investors choose to hold the notes, they may receive rental income or profits shared based on a valuable appreciation of a property sale. Ideally, NFTs could pave the way for many investors to consider fractional ownership in the real estate market.
NFTs or non-fungible tokens have become popular in the real estate industry because they allow investors to buy or sell digital properties. This new blockchain-based technology trend will affect the real estate investment scenario by promoting the rise of virtual real estate. Industry experts also claim that it will encourage fractional ownership, and make mortgage lending easier.
Also, if you want to read more informative content about construction and real estate, keep following Feeta Blog, the best property blog in Pakistan.
Arizona is growing, with a population of 7 million people no doubt due to good weather, low unemployment and a strong economy. This state also has an average sale price of just $ 240,000, so it’s budgeting for the smart investor as well.
If you think about buying investment properties in Arizona, the top markets highlighted below could be ideal.
As you ponder where to buy investment real estate in Arizona, Phoenix will definitely appear on your list. This growing city is home to five million inhabitants, a strong economy and many job opportunities.
As you know, these are factors that often make buying residential or commercial investment properties a smart move. Phoenix also has robust nightlife, sunny weather, and many attractive restaurants and golf courses.
Short-term rental properties are hot due to the city’s growing tourism business, which attracts extras every year for the Phoenix Film Festival, among other events. Rents and sales prices are rising, and real estate experts claim that the average house price could rise by 25% in the next four or five years.
Tempe is a popular city for the purchase of long-term single-family rentals. Arizona State University is based here, and more than a dozen other colleges are nearby.
You can expect to have many students interested in your rental properties in Tempe. This is also worth considering: Some estimate that Tempe’s job market will grow by 50% over the next decade, compared to just 33% across the United States.
Tucson is family-friendly and has a cost of living well below the national average. This historic city also has excellent public schools and is nestled among beautiful scenery; this is another factor that makes it popular for young families.
One of the upcoming real estate markets for savvy investors in Tucson is Corona de Tucson. It is a beautiful area in which to buy a long-term rental property, especially a single-family home. Families like this community because of the low crime rate and nearby schools.
Residents often rent in Corona de Tucson because house prices here are among the highest in the city. Downtown has many popular bars and restaurants, which makes it tempting for business investors as well.
This small bedroom community about nine miles west of Phoenix is popular with families, retired couples and young adults. Your tenants can participate in an NFL game at Cardinals Stadium, and Adobe Mountain Desert Park is just minutes away.
This town is known as the ancient capital of the state. The growing population and labor market attract many properties.
Prescott is not as large as other cities in Arizona, but many locals prefer homeownership to rent. So if you like real estate, you may want to think about a homeowner financing single-family homes to home buyers who don’t have the money or credit for a traditional mortgage.
Prescott also has universities and colleges, so it’s still an attractive place for buying toys as well. This growing city may be a good choice for new real estate investors, as homes remain relatively inexpensive here.
Fifteen miles from Phoenix, Mesa is a center for business and education and ideal for growing families. Rental properties are quickly catching on here, as parks are a short walk away, and a number of world-class golf courses are also nearby.
Mesa is highly valued due to a low median selling price of less than $ 300,000, so it is becoming a hot commodity for Arizona investors.
Arizona is popular for relocation because it has a strong economy and a growing housing market. Warm weather and excellent but affordable restaurants also make it a popular destination for tourists.
For the latest updates, please stay connected to Feeta Blog – the top property blog in Pakistan.
Buying a house does not matter to anyone. One thinks about price, location, suitability, working distance, family needs – the list goes on. But one important thing in all this is that the house – the physical building itself – has some value, some longevity. That it will not collapse or flood or a myriad of other worst cases.
Unfortunately, in the country’s largest city, these are legitimate questions to worry about. And nothing kills consumer confidence like a few weird accidents here or there. Such is the case of Naya Nazimabad, which was supposed to be a stellar new housing project, who got involved in the terrible monsoon rains that flooded the city in 2020. And it seems that this has affected sales and so on. In the most recent annual report released to the Pakistan Stock Exchange (PSX), Javedan Corporation, the company that owns Naya Nazomabad, recorded its lowest solid income figure since 2013 – when the company first started operating – and its second lowest solid net income.
What happened? To understand, it helps to have context.
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The Capital Development Authority (CDA) has devised a procedure to facilitate the people who intend to undertake real estate or invest in private land or any residential association, as explained Feeta.pk
The list of documents required for a project in the case of private land is as follows:
Watch this space for more information on that. Stay tuned to Feeta Blog for the latest updates about Architrcture, Lifestyle and Interior Design.
