Overseas Block in Fazaia Housing Scheme Karachi to launch soon

The spring season is usually a happy time as everyone enjoys the fresh flowers, the slightly warm weather after a cold spell, and … the launch of good real estate projects? Well, in the case of Fazaia Housing Scheme Karachi, yes! We hear that the launch of Overseas Block is just around the corner and booking is currently open.

According to sources, the project may be launched by the end of March although no confirmed dates have been announced yet. The project will be launched in UAE, Canada, and the United Kingdom and will open its doors to overseas investors and local investors alike.

Let’s see what Overseas Block in Fazaia Housing Scheme Karachi has to offer!

Apartment options

This project is a block within a block and is located in Phase II of the housing scheme. Overseas Block offers 2-,3-,and 4-bedroom apartments in three different categories. These luxuriously designed units are available on an easy bi-monthly instalment plan and are priced very reasonably in order to appeal to a large target market.

The 2-bedroom apartment is spread over an area of 1,427 ft² and requires a down payment of PKR 419,400. The rest of the amount can be paid in 30 convenient bi-monthly instalments of PKR 185,800 each. The total price of a 2-bedroom apartment amounts to PKR 5, 993,400.

The 3-bedroom apartment spans 2,165 ft² and requires a down payment of PKR 639,000. The remaining amount, payable in 30 bi-monthly instalments of PKR 281,800 each, brings the total price to PKR 9,093,000.

The 4-bedroom apartment measures 3,006 ft² and requires a down payment of PKR 883,200. The remainder can be paid in 30 bi-monthly instalments of PKR 391,400 each, bringing the price up to PKR 12,625,200.

Needless to say, these options are highly affordable and can fit the budgets of many investors.

Booking procedure

First of all, we have to clarify who is eligible for booking in the Overseas Block. The good (and slightly perplexing) news is that despite the project name both overseas Pakistanis and local residents, especially those who were unsuccessful in previous balloting processes, are eligible to apply. Hence, applicants who were previously unsuccessful in making the cut during the balloting process of other Fazaia Housing Scheme Karachi projects will be awarded a confirmed apartment in this block. Obviously, new investors may apply for apartments in the scheme as well.

To apply, the booking form must be filled out and the down payment deposited in Fazaia Karachi’s collection account in Habib Bank Ltd (HBL)’s PAF Shahrah-e-Faisal Branch. The IBAN for the account is PK42 HABB 0000 2879 0111 1752 and the Swift Code is HABB PKKA. The account number is 0028-79011117-52.

After the online transaction is made, the soft copy of the Transaction ID and Reference ID with a scanned copy of the booking form must be emailed to info@fazaiakarachi.org. The documents can also be mailed to:

Fazaia Housing Scheme Karachi

Project Office near PAF Base Faisal

Main Shahrah-e-Faisal Karachi

Pakistan

Acknowledgement of application and all documents regarding your booked file for an apartment will be sent to you at your corresponding address when your documents are received.

Is there a downside to the project? The downside (or the slightly agitating side) may be that possession will be granted in 2020. Can you wait that long? If the answer is yes, go for it.

Are you interested in the project? Let me know in the comments below.