7 WONDERS CITY PHASE 2

The 7 WONDERS CITY PHASE 2 by GFS builders, a gated society Located at main m-9 highway.

✅  Easy and lowest monthly installments

✅  A secured and gated Community

✅  residential and commercial plots of 80 & 120 sq.yd

✅  Amenities like water park, stadium, schools, etc.

For more information and details,
Call 0306-0004370

PHASE II PAYMENT PLAN

	80 Y	120 Y	80 Y	120 Y
	Residential		Commercial
Total Cost	700,000	1050,000	15,00,000	22,00,000
Booking	25,000	35,000	70,000	110,000
Confirmation	25,000	35,000	70,000	110,000
Allocation	25,000	35,000	70,000	110,000
Start of Work	25,000	25,000	70,000	110,000
Installment X 48	6,000	10,000	15,000	22,000
Installment X 8	35,000	45,000	50,000	22,000
On Possession	32,000	70,000	100,000	144,000

HBFC GHAR SCHEMES

It is difficult to buy or construct a home in Pakistan. Our population has increased exponentially in the last few decades. This change has made securing affordable housing a challenge for everyone. The demographic boom has also eaten into the country’s living standards.

Besides, taking loans has always been tricky. Common house building loan schemes usually come with difficult eligibility criteria (most notably high-interest rates). So it normally becomes hard for a salaried person to avail them.

The House Building Finance Company Limited (HBFC) finances home constructions in Pakistan. Its monetary aid is prioritized towards low and middle-income citizens.

TYPES OF HBFC GHAR SCHEMES

The HBFC Ghar Scheme offers three separate home loan services. These are, namely:

• Ghar Pakistan
• Ghar Pakistan Plus
• Ghar Saholat

All of them make your dream of owning a home achievable.

GENERAL FEATURES

The standard HBFC Ghar Scheme home loan tenure runs from 3 to 20 years. The service also comes with the ‘Co-applicant’ or ‘Guarantor’ facility. Here, the company requires the co-applicant to be an immediate family member. Also, the guarantor must be a family member who has rights in the property being mortgaged.

The service allows applicants to add their co-applicants’/guarantors’ individuals incomes to their total income. This is called ‘Income Clubbing’. The HBFC Ghar Scheme further offers insurance coverage for death and disability. It also covers property insurance.

There is an additional facility for balloon payments. This allows customers to pay early settlements at no extra charges.

HBFC’s profit rates differ for all three services. The HBFC application forms are available all across the country in more than 50 offices.

ELIGIBILITY CRITERIA

Particulars	Criteria
Age limit for salaried persons	18-57 years
Age limit for self-employed & business persons	18-62 years
Experience req. for salaried persons	1 year
Experience req. for self-employed & business persons	2 years
Income Criteria for Ghar Pakistan	Up to PKR 100,000
Income Criteria for Ghar Pakistan Plus	Up to PKR 175,00
Income Criteria for Ghar Saholat	Verifiable net disposable monthly income

GHAR PAKISTAN FEATURES

• Financing up to PKR 4.5 million
• 12 per cent per annum profit rate
• The loan-to-value ratio of 80:20
• Debt burden ratio -up to 45 per cent of net monthly income
• It Balance transfer facility
• The application processing fee is PKR 2,000 for financing up to PKR 1,000,000
• The application processing fee is PKR 5,000 for financing above PKR 1,000,000

GHAR PAKISTAN PLUS FEATURES

• Financing up to PKR 8.8 million
• 13 per cent per annum profit rate
•  Loan-to-value ratio (LTV) of 85:15
• Debt burden ratio (DBR) -– up to 50 per cent of net monthly income
• The application processing fee is PKR 2,000 for financing up to PKR 1,000,000
• The application processing fee is PKR 5,000 for financing above PKR 1,000,000

GHAR SAHOLAT FEATURES

• Home financing up to PKR 25 million
• 3.25 per cent Karachi Interbank Offered Rate (KIBOR) offered a profit rate for salaried clients
• 3.50 per cent offered profit rate for self-employed professionals and businesspersons.
• Loan to value ratio (LTV) of 70:30
• Debt burden ratio –  up to 50 per cent of net monthly income
• Balance transfer facility
• The application processing fee is PKR 3,000 for financing up to PKR 500,000
• The application processing fee is PKR 8,000 for financing between PKR 500,000 to 2,500,000
• The application processing fee is PKR 12,000 for financing above PKR 2,500,000

A FURTHER WORD ON HBFC

HBFC is a nationally trusted financial support institution. Its capital stock is held by the State Bank of Pakistan and the government. HBFC launched Ghar Pakistan as a fixed-rate housing finance service from March 1, 2019. The service provides monetary assistance at the lowest local rates.

HBFC’s Ghar Scheme comes further attested as HBFC is a Zameen.com home partner.

Contact Information HBFC, with its Ghar Scheme, is providing housing to lower and middle-income families. You can access more information regarding the scheme on the HBFC website, or by calling on: +92 21 35641711-15, 0800 42325

INCENTIVE ON CONSTRUCTION OF HOUSE IN QURTABA CITY

It is our immense pleasure to announce that we are offering handsome incentive to members who are willing to take possession and start construction of houses in Block D and C. Very generous offer of Rs. 400,000/- for 138 SQY plots (in block D) and of Rs. 800,000 for 500 SQY (Block C) is being offered on the condition that construction will be completed by the member within 6 months or so.
9 houses are already under construction and so is a masjid and a commercial plaza. Since this is a limited time offer and may only be given to the first 50 houses therefore please register yourself at earliest to avail this offer.

Members who are willing to avail this offer but their plot is not in these blocks, they may entertained by shifting their plots from other blocks to C or D depending upon the availability.

For BOOKING AND DETAIL CONTACT AVENUE MARKETING 

http://avenuemarketing.co.uk/qurtaba-city/

Real estate forecast on non-filers heading back to the market!

As you are aware, the real estate market in many cities of Pakistan have mostly been serving the end users, where societies featuring affordable options performed rather well. These societies were also investment hotbeds for some investors looking at small yet quick gains. In the meanwhile, there was absolute silence by investors who would not settle for less than prime projects.

Multiple factors contributed to the situation, where restrictions imposed by the previous government on non-filers for buying property more expensive than PKR 5 million was one. With the decision now reverted, the situation is expected to change. Here is what stakeholders think about it.

A decision made just in time

The real estate developments that previously interested non-resident Pakistanis for investment maintained a low profile during the last couple of years. In the absence of a decent number of active buyers, many of which are essentially non-filers in Pakistan, any market can shatter. The same was witnessed in prime real estate projects of Lahore and Islamabad. And quite interestingly, the rates were kept from crashing down due to strong holding power of the stakeholders.

And it is also true that selling pressure the market had lately started to mount off. The announcement has come really handy, believes Malik Tayyab Pattal of Mahad’s Estate & Developers, who has already started to notice a rise in interest among potential clients from overseas.

Not the same for all cities

Shahbaz Mukhtar of Urban Consultants is of the view that the impact might as well not be witnessed right away in Islamabad as the city is rich in options cheaper than PKR 5 million. Mukhtar believes that availability of these options where an active pool of investors are already busy at, we might not come across seeing some societies making a major comeback. Even if there are some, the demand will remain high for affordable options due to their existing demand among the end users.

Mukhtar also see addition of 5 million affordable housing units as major game change in the country, where the sector will perhaps be actually working in full swing help its target audience; the end users.

The change was inevitable

The low and high tides of real estate investment cycle calls for changes in demand to maintain its circle of life. With current rates lower by at least 15% across some major real estate developments in the country, many buyers have been waiting for the whistle to blow to start reinvesting. According to Imran Shabbir of Richmoor Real Estate, the timing for the announcement seems perfect for investment. And since the options under the current scenario aren’t limited, a far and wide impact on the market is expected to be witnessed.

Shabbir has started to guide his clients accordingly, where he believes that buying property as soon as possible could be a wise move to make. Property sellers, on the other hand, should wait for the market activity to go up.

Clarity on some aspects demanded

For tax-filers who weren’t restricted from buying property under a certain price limit, the confusion on taxation system introduce in the budget 2018-19 remained the main hurdle. The condition set by the previous government where the Federal Board of Revenue could buy back property at rates higher than the property’s declared value had raised reservations among the potential buyers. In addition, confusion also existed on calculation of Capital Gains Tax. In such set up, some buyers and sellers had to sign affidavits for carrying out the transaction and this can happen only when there is an urgent need to buyer or sell property.

For encouraging foreign investment in the real estate sector and hence collecting decent revenue from it in form of taxes, an urgent attendance to these taxes is needed. While the stakeholders don’t actually demand for the taxes to be rolled back, they want the authorities concerned to established clarity. And if increasing investment activity is intended, introduction of flat tax rates can do much better.

The best property options worth PKR 2.5 million in the twin cities

Rawalpindi has a lot of exciting property options. A large number of properties are added to the pool every now and then, and is the reason why investor interest remains intact. This blog talks about property options worth PKR 2.5 million that can be easily bought and sold. The housing society options listed below, all offer properties within PKR 2.5 million. These lowered prices can be attributed to the project’s newness and development that is yet to be completed.

Bahria Town Phase 8

Bahria Town is a name taken synonymously with quality, development, and comfort. Their projects all across Pakistan are considered a class apart and is the reason why a large number of people want to invest in this project. Here, a 5-marla plot costs PKR 2,500,000.

Capital Smart City

As the name suggests, this project employs all smart measures for making life easy with smart technology. This includes security surveillance, garbage disposal, and efficient allocation of resources, as well as a host of other amenities that are sure to make living here smart and enjoyable. A 5-marla plot here costs PKR 2,100,000. The location of this housing society is really attractive and serves as an ideal platform for investment.

Al Mairaj Garden

An 8-marla plot here costs PKR 7,050,000, whereas an 8-marla commercial plot costs PKR 2,400,000. Aside from this, plots of 3-, 4-, 5-, 8-, and 10-marlas are available, as well as 1- and 2-kanal ones. According to Ali Imtiaz from the Property Magnates, development in the housing society is being carried out at a good pace and possession is expected to be given within the next two years, by which time, prices will also increase here.

Al Kabir Town

Al Kabir Town offers good investment potential for its plots. The prevailing per marla price is PKR 500,000 and plots on offer include 3- and 5-marla plots. This means that a 3-marla plot costs PKR 1,500,000, whereas a 5-marla plot costs PKR 2,500,000. Phase 3 of Al Kabir Town is the latest addition here and is doing really well.

Blue World City

Blue World City has its counterpart in Lahore, Blue Town Sapphire, and both projects are doing fairly well. The price of a 5-marla residential plot is PKR 9,090,000, whereas a 10-marla plot costs PKR 1,000,000. Blue World City has been given its No Objection Certificate (NOC) and since then the prices here have been increasing. Apart from this, Blue Word City has 10-marla plots, 1- and 2-kanal plots, as well as farmhouses.

Al-Haram Garden

Al-Haram garden has plots of 3-, 5-, and 10-marlas. A 10-marla plot here costs PKR 2,500,000, whereas smaller prices cost much less. Al-Haram Garden is another exciting real estate project, however, it still needs to be properly developed. Prices after this are expected to further increase.

All of these projects are good options for investment, or even for building your home. If you think this list was helpful for you, or if you have any other queries, please comment below.

Open Door Policy for Investors in Pakistan

We see all those banners on the main boulevards of the city every day featuring an incredible housing scheme with wonderful facilities, but then we look at the cost and we continue straight to work. Throughout the way, we keep thinking when we will be able to gather enough funds to book a safe and secure future. But now, the thoughts must be changed.Pakistan has been improved in a lot of things such as: Education, Health, Communications etc. Pakistan has huge infrastructure challenges, building school, hospital and a secure residence to meet the population. Pakistan is an impressively dynamic country with a young and fast growing population. Overseas Pakistani living in UK is eager to buy properties in Pakistan their homeland as the security system improves in the country. Nearly 93% of people living overseas find Pakistan a flourishing real estate market, the best for investing capital. On average overseas Pakistanis are willing to invest in Bahria Town Lahore, DHA Lahore and Bahria Town Rawalpindi. There is an overwhelming response from overseas Pakistanis. Many people overseas want to buy properties in Pakistan but due to trust issues and no one taking responsibility from UK people back off but after the arrival of Avenue Marketing (www.avenuemarketing.co.uk) it is easier for buyers to get the best values. It is not easy to gain the trust of people when it comes to invest in real estate but Avenue Marketing has build up their trust in a very short period of time.Avenue marketing has been expanded through its innovative real estate marketing services. It runs through Pakistan on a large scale. It promotes different projects for real-estate. Previously they have worked on the project “Capital Smart City” (avenuemarketing.co.uk/capital-smart-city) which is the project of Future Developments Holdings (Pvt) Limited (FDH), which is one of the leading real estate developers operating in Pakistan. Currently they are working on two more projects. Gwadar Golf City (http://avenuemarketing.co.uk/gwadar-golf-city/) and Qurataba City. Gwadar Golf City is the project of Mr. Bilal Bashir Malik who is the grandson of Malik Riaz who is the founder of Asia’s largest real estate development network, Bahria Town believes in growing across the region and turning it into a worldwide city.Nevertheless, Pakistan’s infrastructure requirements go beyond even CPEC and it is clear that there are opportunities for UK companies to participate in projects in this sector, particularly in the UK’s strength areas of professional, legal and financial services.

Sangar Housing Scheme, Gwadar: Status and hopes for the project

A few months ago, two separate but related notices had been issued regarding Sangar Housing Scheme by the Deputy Commissioner Gwadar, who is also the Project Director of the scheme. One of the notices put a stop to any rumours that had been circulating regarding the sale of Sangar Housing Scheme or about the uncertainty of its future. The notice also stated that development is set to begin in Sangar.

Meanwhile, the second notice invited the public to apply for building approvals and NOCs to begin construction on their plots, though it was only for residential plots in Phase I and commercial plots in Phase IV. As a result, it was expected that interest will surge in the project and so will its prices. This article is to update you about the latest from project and how things stand four months later.

Current market situation

According to Shamim Mustajab of One Source, despite all the good news from four months ago, the market has been relatively slow. He explained that the prices, like the rest of the country, are no longer trending downwards but the market is yet to see an upwards trend as well.

On the question of clients and demand in the market, he explained that a reasonable demand existed for Sangar. Indeed it is one of the most popular housing projects in Gwadar but if the demand in Gwadar and Pakistan itself are low, it will be the same in Sangar as well. However, as things appear, the market seems to be stabilising and improving, we can expect good things in Sangar as well. As it is, the prices in Sangar Housing Scheme currently stand as follows:

Plot Size               Prices in PKR

400 sq. yd.          3,000,000—4,500,000

600 sq. yd.          3,500,000—5,500,000

1,000 sq. yd.       6,500,000—15,000,000

The 1,000 sq. yd. commercial plots in Phase IV fall between PKR 15 million and PKR 25 million.

Development and investment

Unlike a large number of other projects in Gwadar, Sangar has already seen a lot of development, many of its roads are complete, and electricity is available in Phase I. As a result of the invitation to apply for NOC to construct houses, a large number of people have indeed applied for it, according to Shamim, but things are still in process. Rizwan of Estate 1 further explained that it was too optimistic to think that so many changed would occur in this particular time slab. Elections were set to take place, the government was unsettled both before and after the election, and the processes could not possibly have been completed in this time, he felt.

On the other hand, he explained, now that the new government has taken over and things will begin settling down, we will see rapid changes taking place, particularly in the perspective of rapid progress in the status of CPEC as well. So, good things can be expected in the near future. In the medium term, we can look forward to a significant appreciation in Sangar.

Are you looking to invest in Sangar Housing Scheme? Do you have any questions about it? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed conversation.

Clearing the confusion: Mini-budget, non-filers, and real estate

Budget 2018-19 had its pros and cons and a significant impact on the real estate sector of Pakistan. One of its most discussed highlights of the budget was that the previous government, in its efforts to regularise real estate and encourage people to file taxes, had restricted the non-filers from buying property valuing greater than PKR 5 million.

The premise was that people who are rich enough to buy property worth more than PKR 5 million should also be tax filers and taxpayers. The hope was that it would help increase the revenue for the government and, at the same time, increase the contribution of the huge real estate sector to the national exchequer.

On the other hand, the real estate stakeholders contended that this would add confusion to the real estate sector of Pakistan, slowing its growth when it has already been slow under the new taxation regime. What no one figured in to the equation was the confusion that it would cause among the overseas Pakistanis, even though they actually didn’t have to pay any new taxes under this – due to double tax agreements.

Overseas Pakistanis are special in that they are critically essential to the health of both Pakistan’s foreign exchange reserves and its real estate. Both of those are essentially related as well – a large amount of remittances to Pakistan by overseas Pakistan are, in turn, invested in the real estate. Remittances from overseas Pakistanis form one of the four sources of remittances to Pakistan and, in year 2017-18, remittances formed 40% of the inflows to the country. Incredibly, it is also the source of forex that has seen the highest growth in the last two decades – it grew by 19-20 times, as compared to Foreign Direct Investment (FDI) that increased by eight times.

So if confusion and hesitation existed among overseas Pakistanis, it was natural that remittances, and in turn, real estate and foreign exchange reserves, would suffer. It was not surprising then, in the above circumstances, when the Finance Minister Asad Umar stated during the mini-budget speech recently that the restriction on non-filers from buying property valued greater than PKR 5 million has been removed simply because it caused confusion among the overseas Pakistan.

This is bound to help the real estate market ease up as more money will begin flowing into the sector in the form of investments.

Tax regime on real estate still form a conundrum

While this one confusion has been resolved, there are several others that exist presently, causing confusion. The former finance minister, when he made the budget speech had announced that DC rates and FBR rates are going to be abolished and instead the values declared in the sale deed will be considered valid. However, to curb undervaluation of property, a directorate of immovable property will be formed.

Now the FBR rates have been theoretically abolished but the provinces have not abolished the DC rates, the Directorate of Immovable Property is yet to be formed. Confusion exists around the question of which of these values should be used and how the taxes will have levied on them.

Some problems also exist around the issue of how declared values may compare against DC rates or even FBR rates. If someone had mentioned DC rates on their sale deed when buying a property, the difference between that and the declared, original value may be very high when selling it, artificially increasing gains counted towards Capital Gains Tax, potentially reducing any gains to nothing, or even turning them into losses.

These are some of the things that need to cleared before real estate can begin its rampaging growth again – something all of us wish. A solution could be to do what Sindh’s government has decided – to adopt the old system, scrapping the new measures and any confusions with it, however, that may only be temporary at best. What’s needed is a comprehensive explanation by authorities of how the things stand and will continue.

Do you have any confusions about the new tax measures, the budget 2018-19 and the recent Finance Bill amendments? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed conversation.