Overseas pakistani needs advise from all brothers going to purchase 2 bed + lounge + drawing in defence residency low rise building .Visiting pakistan on eid and budget for this is 5million.
Kindly share your views on this prod and cons.
Jazak allah
I have investment in same flat. Its posession is expected in dec. After posession planing to rent it out. Its already in profit and after posession expected to gain 1 million in value. After completion of world trade center their value will increase more. Hope this info could be useful.
How much profit are you paying ? You can look for a cheaper option in high rise buildings. A similar flat in high-rise would come around 40 at max.
Please do due diligence as prices are often quoted high when you go to purchase a property.
Does anyone have any idea of current market prices of 1150 sq ft apartment in Defence Residency New blocks? any idea about date of possession?
Thanks
My flat is in block 11. Its structure is ready and finishing is also half complete. Market rate is 45 lakh. Expected to go to 55 lakh after posession and rental value wiil be 25,000 to 30,000. New blocks of defence residency were launched on higher prices. Their posession will also take round about 3 years. I would recommend to buy a flat with structure ready status.
I have got apartment in block 14 in 2012. Do you know the status of construction?
Thanks
I am overseas I will visit Pakistan after eid then will let you know. Usually I see pictures uploaded on alghurair giga website to know the construction status. Www. Alghurairgiga.com
I have bought a pha flat in g11/3 e type for 45 lack ground floor,have been recently handed over to allottes i presume a year ago,gas is not yet in,rest location is alrite just opposite g11 markaz,rental value at the moment is 22000,look and infrastructure is not so luxurious as compared to dha bahria,but secure for investment,on top paid 150k approx for transfer (filer)
Dear Adnan… When did you buy this PHA flat?
I bought it ahmed bro just a week back,and transfer has been done just two days ago,original allottes are bps 16 and below federal employees,pha slapped 8 lakh possession charges per flat before possession,which many of them couldnt afford,and have been gradually sold before possession,so first i paid 8 lakh to pha on owners behalf and remaining 37 lakh to allotte,after which ill get keys with possession,in 20 days,
rental value is good,dealer was even telling me 25k plus but i checked from surroundings and its 22 k at the moment,islamabad in hot in rents,so i just bought it for this purpose,secondly they are new,even electricity all the utilities have to be applied by me after possession,but at least annual appreciation of 5 10 percent is imminent in zone 1,
@ Shumaila,
Did yo you get a chance to visit Defence Residency? Will appreciate if you could update on status of construction.
Thanks