Hi, i live in karachi but looking to invest in islamabad for (3-5 years). I am looking for atleast ground plus 1 property so that one floor i can put on rent and other floor i can use for my own summer trips(4-6 weeks in a year). I have a budget of 1.5cr so i would appreciate if experts in islamabad market guide me about the area/ location.
SH sb
...In Islamabad, in G-14 & G-11 ( PHA Houses), you can get double story 5 marla new house in your budget. Now almost all PHA houses have been renovated.
...If you are concerned about a little better security, then explore bahria town phase-8 as you can choose among several options in small double story houses.
...Also in your case where you are not staying regularly, bahria enclave Islamabad can prove best option for you. A 5 marla can be bought in your budget.
...In DHA phase-2, in sector J, a 5 marla can be bought and it is on the Islamabad highway which is being widened and signal free.
...If you are after a house in bigger, scenic and lush green cool place then capital zone-3 , land is available at 6 lacs per Kanal ( yes per kanal not per marla) and buy several Kanals on registry transfer and make a house there with big lawn.
This land is available in Tumair between Rawal & Simly Dam. A lot of families visit in summer and love to live near Murree and Islamabad in a rental villa.
...My company can make a nice house for you in 1.5 years time.
In DHA phase-2, in sector J, a 5 marla can be bought and it is on the Islamabad highway which is being widened and signal free.
@ Sir Abdul Qayyum....Is it really possible to buy 5 mrala HOUSE in DHA-2, sector J in 1.5 crore?????(I am super excited after reading this)
Kashif sb
DHA-2, sector J, I was looking for a 5 Marla plot 6 months before for my friend, deal was almost done at 92 lacs but could not get materialized. Plot was on sloppy street.
Sector J is not on par with the rest of new DHA-2. Sector J was acquired by DHA @ as it was...narrow streets, small bore drain line etc...but now DHA has done good changes, though.
5 marla was 90 to 1 crore just 6 months before.
You spend 60 to 79 lacs and can make a double story, by constructing your own.
Also house is a liability contrary to plot which is an investment. An old houses can be bought on almost " plot price" and then can be renovated.
I think a 5 marla still could be found in sector J. Old 5 marla house @ 1.5 crore must be a win win situation for both sides.
In Islamabad, in G-14 & G-11 ( PHA Houses), you can get a double story 5 marla new house in your budget. Now almost all PHA houses have been renovated.
Did you mean apartments/flats?
Dear I am talking about a 5 marla house in G-11. These houses were made by PHA and as per my friend experience; were made by an honest contractor as he had hell of time with the demolishing work while breaking the old concrete slabs.
My friend bought two units, single story, made them double story and renovated them.
If one can still find an old single story then even @ 1.5 crores, it is not a bad buy.
Rents are very lucrative being near to the CDA education sector H. Both portions can be put on rent distinct to each other.
I think you should look at Airport Housing Society. It is located opposite to Gulberg Greens and the initial blocks are pretty cheap. You can get a 10m or bigger house in this price range.
@Abdul Qayyum kindly shed some light on your sentence" house is a liability contrary to plot which is an investment"…these are golden words…
@Abdul Qayyum, Could you please share a link to that property. I couldn’t find any G-11 PHA home on zameen.com properties.
Kashif sb
Normally residential property loses it's worth with the passage of time as houses get old on everything. A house more than 20 years old sometime sells on the " only plot price"!
I call this as a " liability" not an investment.
A commercial property on the other hand is most of the time regarded as " investment " as it appreciates " both" on plot value as well as on the " shop" value, such as on "pagri" etc...
For example I bought an apartment years before in the then most hot place in bahria phase 1-6 in civic center @ 62 lacs and now being old its max worth is 52 lacs.
I bought shops in F-11 years before @ 7 lacs one shop and now its worth is min 60 lacs.
I put my house in dha on rent and when vacated after 5 years, I had to spend 10 lacs to correct the stuff in the one Kanal house.
Had I rented a shop or office, I would only do a paint and done with it...that's spells " liability".
Some places, rare instances though, a residential attains a commercial worth but not as a rule, differentiating between houses & commercials.
A house always returns ROI on rental much less than a shop or office.
Javed sb
These PHA houses, most of them, now sold and renovated but you need a local visit of local dealers to find one. These deals are very lucrative but time to time come in the market.
They were sold all single story. You can call dealers in G-11 in the Markaz to make a deal or book your request only in G-11 dealing office for any future opportunity.
Post
For 1.5 crore G-14 is impossible.
@SH I would second the options presented by Abdul Qayyum sahib as he is one of the most knowledgeable and honest person on this forum.
Thanks Rauf sb for good words.
Imran sb: You are right...now G-14 has gone extremely expensive. Just 9 months before, it was easy to get a 5 marla @ max 1 crore & 5 to 10 lacs at compromised location but now not possible below 1.35 crores...just plot alone.
But PHA houses still one of the best option, if one could find one.
PHA offers only non-posession flats in G-13. This guys wants a house with ground +1st floor.
Imran sb
In G-11 there were big number of them, old single story houses made by PHA. G-13 flats were made after those 5 marlas.
You can buy a fully constructed 5 marla two-story house with A-grade quality construction in B-17 Multi Gardens. The rental rate and occupancy are really well in B-17 as well. The infrastructure of Multi Gardens is in its own league, the only compromise would be the 30-35 minute signal-free drive to Islamabad Zone 1.
Or if you want to really get value for money, you could buy a 5 marla plot in BT Phase 8, sector M or L for example around 35-45 lacs for a nice corner plot and construction cost will be 50-60 lacs...so within 1 crore you could have a house. (rent one portion, keep one for yourself)
Remaining 50 lacs you could invest in other plots in good societies (Bt8, Enclave, B-17, I-16 and Gulberg).
You could ping Abdul Qayyum on this forum for managing the entire project (a real honest/genuine guy Ah’d).