MARKET PRICES HAS INCREASED, ONCE AGAIN AT HISTORICAL HIGH PRICES.
BUT DUE TO 0.3 PERCENT WITHHOLDING TAX ON ALL BANK TRANSACTIONS DHA PROPERTY MARKET BECAME STANDSTILL,WAITING FOR GOVERNMENT TO CHANGE THE DECISION.
The GENUINE BUYERS are waiting for permission for construction.
The official collector rates of plots in phase 8 is very low as compared to phase 5 and 6, this also increase trading activity in phase 8.
( There is huge gap between market value and official collector rate of plots in DHA as is all properties in PAKISTAN) .
The construction of MAJOR road NETWORK is finished in phase 8. ZONE B is ready for construction Development Work in Beach streets plots ZONE C , Sahil is completed. Development in Zone D & E remaining part and business Zone plots is in progress. Pakistan’s foreign exchange reserves is over 15 billion USD, inflow of foreign remittances is nearly touching one billion per month, Karachi stock market 100 index is between 34500-35,000 point mark.
The prices of property in DHA Karachi currently is getting extraordinary high level phase 8. There is correction due to already high prices . Though the development work going on and the permission for construction in the year 2014 in certain areas of phase 8 is already announced.
The new government is bent on developing Pakistan into developed one , focusing on power sector and motorways. Government has to rehabilitate Pakistan , for its survival for that purpose strong growth rate has to be achieved, free of corruption and stress on self sufficiency. The positive change is being expected in this administration , the people of Pakistan are taking challenge themselves.
The GENUINE investors now have the full confidence in DHA Karachi Pakistan property market. The growth rate in the neighboring countries like China and India is above 7%, Pakistan is trying to make improvement in that area against all odds.
The market prices of plots in different locations are , 500 sq yd residential plot in D cutting, phase 8 reached around 4.0 crors(first belt) , Sahil 300 yd plot is at rupees 250 lacs , sahil 500 yd around 3 CRORE. Defence streets phase 8, 3 lacs. 2000 yds category residential plots in 3rd belt of phase 8, below 30th street are around 12 crores and prices above 20 street is upto to 15 crores. The sale of bungalows have SLOWED DOWN,. The 500 sq yd brand new house is now priced around 7.50 cror, 1000 sq yds is priced around 15 and 2000 sq yd is price around 30 crors for top quality and top location houses. Although there are lower priced houses according to their location and quality.
DHA CREEK VISTA in phase 8 of DHA, KARACHI, PAKISTAN, The price of four bedroom apartment is around 5.50 crors now , 3 bed 5.25 cror. The market prices in the commercial areas of phase 8, Almurtaza commercial / Zulfiqar commercial 100 sq yds Rupees 4.20 crors .
Thus we feel prices will remain volatile here, and only those plots are getting offers which are location plots..