Naya Nazimabad: An affordable option for genuine buyers and investors in Karachi

Naya Nazimabad has a fairly popular in Karachi for more than two years as can be seen by Zameen Search Trends for plots in Karachi. According to the experts interviewed, this is primarily because of the affordability of the project. It is also a great project because of the security and quality development it provided.

So how does the market currently stand – particularly with the elections over, and the new government set to take over, what is the future of the project? Read on to find out!

Market and price trends

According to Shahbaz Mukhtar of Urban Consultants, the trends in the market have been very positive for the past couple of years. In this time, the prices have almost doubled in Naya Nazimabad. Shahbaz expected the upward trend to continue in the foreseeable future.

He explained that this will happen because there isn’t any speculation in Naya Nazimabad’s market, so the prices have not seen any drastic fluctuations – the same can be expected in the future. Another reason why the prices are expected to continue with their trends is because the neighbourhood is great. Block A has particularly seen great development, and is really popular with the genuine buyers. Block A has parks, a stadium, a club, a mosque, and a range of great amenities and luxuries, so its popularity is neither unexpected, nor is it decreasing any time soon.

Yet another reason, according to Shahbaz, is that even the investors who have invested in the past – or the ones who are currently investing – have good holding power. They are not in for the speculative profits, so they are contributing to the steadiness of price trends.

Currently the prices stand as follows:

Plot Size	Average Prices in PKR
Residential Plots
Block A-1
120 yd²	5,600,000—6,200,000
160 yd²	8,000,000—8,500,000
240 yd²	11,000,000—12,500,000
Block A-2
120 yd²	50,000,000
160 yd²	9,500,000—10,500,000
Block C
120 yd²	4,000,000—4,500,000
160 yd²	5,500,000—6,200,000
240 yd²	7,500,000—8,200,000
Block D
120 yd²	3,600,000—4,200,000
160 yd²	4,500,000—5,200,000
240 yd²	6,500,000—7,200,000
Bungalows
120 yd² (Single Storey)	7,2000,000—7,800,000
120 yd² (Double Storey)	9,5000,000—10,500,000
160 yd² (Single Storey)	10,000,000
160 yd² (Double Storey)	12,000,000—12,500,000
240 yd² (Single Storey)	15,000,000
240 yd² (Double Storey)	17,500,000—20,000,000

What are the options for genuine buyers and investors?

For genuine buyers, according to Shahbaz, Naya Nazimabad is a fantastic option for genuine buyers and the construction of new houses has been beginning with high frequency. He explained that anyone looking to construct their house immediately can go for Block A. Possession is available there and amenities, as explained above, are fantastic. So that is the best option.

However, if you are looking for a rather more affordable option and can wait to construct your home for about 8 months, then Blocks C and D may also be good options to consider.

Shahbaz also recommended the housing schemes for investors – particularly those with some degree of holding power. He explained that Blocks C and D are good options to consider for investment since the prices in surrounding blocks or even the surrounding areas. So the prices will increase there steadily.

He explained that you start reaping profits on a quarterly basis in North Nazimabad, so you must have a holding power of 4 months and you will gain returns. However, the more your holding power, the more you will be able to profit, he explained.

Are you looking to buy in Naya Nazimabad? Do you have any questions about it? You can talk to us in the comments section. You can also head to the Zameen Forum for an extensive discussion.