Recently the executive board of Defence Housing Authority Karachi has unveiled the final master plan for the DHA City Karachi, a project that will be completed on 11640 acres of land. The land for this project was obtained in 2005 and it consists of more than 27000 residential and commercial plots . This project will be built on Super Highway and its construction plan will take another 5 to 10 years to complete.
This is a mega project, which is expected to boost the value of Karachi real estate. Real estate investors and landlords in Karachi are upset due to the recent wave of violence that has hit Karachi. The target killing and lawless and chaotic situation in Karachi are forcing families to vacate houses withhold any real estate investment in Karachi and move to other peaceful cities like Lahore and Islamabad.
According to a recent report, due to this influx of the people in Lahore, Karachi real estate has lost some of its value. The value of Lahore real estate, on the other hand has gone up by almost 30%. However, Karachi due to being the largest city and the main business hub of Pakistan still holds great charm in its real estate sector. The recent unveiling of DHA master plan has showed that Karachi estate agents are confident about the potential of Karachi real estate and through this mega projects they are expecting better times ahead.
As this is the mega residential and commercial project, it would be completed by the end of 2030. However, the action plan for the initiation and running of the project will begin by the end of 2012. The primary infrastructure would be ready by 2015 and project would be half done by 2020.
This project is expected to provide quality living to the people of Karachi. All luxuries like community centres, educational centres, green spaces, efficient transport system, walk, and cycling paths are a part of the project. Moreover, security of the area and closer proximity to the main Highways in Karachi make it a spectacular housing scheme.
Investors, for whom the DHA Lahore was the main attraction, are considering DHA Karachi to be a more magnificent project that is expected to surpass DHA Lahore with respect to quality and value of structures. This mater plan spells as good news for the Karachi real estate investors and they are expecting better times ahead!
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