The number of residential buildings keeps increasing in Karachi, the metropolis by the sea. Is this just a phase or is this a trend that’s here to stay? This is debatable and can only be determined with time. However, for now, the number of luxury real estate projects, specifically apartment buildings, is on the rise.
Park View is a newly emerging project that boasts a ground floor and an additional 14 storeys. As the name suggests, the project is literally located opposite the famous Jheel Park near Tariq Road. This is one of the project’s unique selling points and the developer hopes to enchant potential customers with the superb view.
Even though Karachi has many apartment buildings, we think this particular one deserves your attention. So let’s dig deeper, shall we?
Booking & development
Although booking officially commenced in the beginning of November, reportedly 50% of units have already been sold. Thus, just half the units are left and no set date has been prescribed for the end of the booking period.
The 14-storyed tower is currently in its foundation stages of construction and the basement car parking is being built right now. The building is due to be completed within the next two and a half years if no delays disrupt the progress.
Special features
While the developer feels that the building’s prime location is a major advantage, additional facilities have also been added to ensure investor satisfaction. These include, but are not limited to, a gymnasium, recreational space for children, prayer areas, an executive lounge, and expansive car parking.
The basement, ground floor, and first floor will be dedicated to the car parking and the second floor will be a full-fledged recreational area containing the gym, lounges, and other community spaces.
Each floor above this level will feature 3- and 4-bedroom apartments which are four corner apartments. All these units are equipped to offer you the fully facilitated lifestyle that you deserve. So how much do they cost?
Affordability and prospects
The price of an apartment depends on size and the floor it is located on. A 3-bedroom apartment ranges from PKR 18,000,000 to PKR 19,000,000 and a 4-bedroom apartment ranges from PKR 22,000,000 to PKR 23,000,000.
The payment plan spans 30 months and 10% of the total price must be paid upon booking. Two major payments follow the down payment, after which the remaining balance can be adjusted in a flexible manner.
Possession is due to be granted within three years and real estate activity is booming beyond the developer’s expectations right now. With only a few units left, interested parties should make their move soon!
So, are you planning to be a part of Karachi’s apartment mania? Share your thoughts in the comments section below.
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