How does one start a housing society? I can see that there is plenty of room for more housing societies in zone 5 Islamabad. Although I don’t have the funds myself to start a society, I can get very large financial backing at ease. Just need initial information to see if this would be viable for me as I am overseas Pakistani.
Dear Ali Khan,
Launching of housing society is not very tough but it needs huge investment with huge contacts in starting. First of all you have to register your company and acquire the land. After acquiring land there is a legal procedure of taking NOC from CDA as zone 5 is directly under CDA. Then you need a good developer to develop it and a good promoter to promote it in market.
Few housing schemes start development without NOC but this is illegal. Land acquiring is the most tough step in it as you have to pay huge amounts plus local people are very tough to deal with. Legal works are not that much tough in Pakistan if you have money in pocket otherwise its also very tough.