Karachi, the biggest city of Pakistan, is constantly expanding but the good news is that this expansion is well planned. With new housing projects targeting the middle class, the city promises more homey accommodation to the oodles of people interested in living here. Naya Nazimabad City, the most raved about housing society project has been initiated by the private sector of Karachi. This project was launched in Nov 2011 and is expected to complete in a decade’s time. The authorities have claimed that Naya Nazimabad City Phase-I will be ready by 2015.
Naya Nazimabad City, which is spread over a land of 1200 acres is located near Federal B. Area and is at 20 min drive away from the Water Pump Chowrangi. Although this society does not target the elite and residents of posh areas like DHA and Mohammad Ali Housing Society but it pledges to offer the similar facilities and lifestyle. Targeting the middle class and offering them above standard services is a newer trend in Pakistan and experts are of the view that this practice will remain very successful. With Manghopir lake on one side and hills on the other, the location of Naya Nazimabad City is ideal. The stakeholders of Pakistan real estate are quite hopeful to see some serious activity in this sector.
According to initial reports, this society will house 300,000 people in flats and single story structures. The number of houses, which will be constructed under strict scrutiny and administration of the authorities, is not final yet because the count depends on the demand. Just like every good housing society, Naya Nazimabad City will have state of the art infrastructure, well-equipped hospitals, quality education institutes, and other recreational centres. People planning to invest in Karachi real estate finally have an affordable and secure option in form of Naya Nazimabad City where administration is all committed to take the due responsibility and protect their investment.
To ensure security and preserve the calm environment of the society, Naya Nazimabad City will be gated and about 150 men from Frontier Constabulary will do the security checks and gate keeping. The price set for property and houses in Naya City is much reasonable. One can get a 160 square feet single story house in 30 Lacks and the debt component is set to be 12 Lacks. The investors looking for sound opportunities to cash good returns from properties in Pakistan should keep a check on Naya Nazimabad city and make the right move at the right time.
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