After the media campaign by DHA Karachi about development of Red Zone Sectors i.e Sector 3, Sector 5 and Sector 7; market took 30 to 40% price jump in these sectors, plus all these three sectors detailed maps along with plot numbers has been issued too as many people were waiting for the detailed maps and finally maps are here.
DHA City Karachi also made the announcement of starting of development work in other sector too i.e Sector 2 (A, B & D), Sector 6 (A & B) and Central Business District (CBD). Commander 5 Corps and President Executive Board DHA Lt. Gen Sajjad Ghani HI(M) inaugurated and approximately 200 people including Govt Officials, Real Estate, Media, Defence Residents and Locals attended the ceremony. Because of this announcement; mentioned sectors also took price jump, and market witnessed sharp increase in commercial plots of CBD.
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then contact CITI Associates at 0300-8299101 / 0321-8793654 or email at email@example.com
Now after all this happening in the month of June 2014, market become dull and price which increased in Red Zone Sectors started coming down and couldn’t maintained that higher price. Now in the Holy Month of Ramadan market become more slower, and it feels that market will come down more by 10 to 20% from its higher level.
Besides the Red Zone Sectors, all the other sectors are almost very dull and there is no demand in those sectors. Many people feel that because of this price appreciation in Sector 3, 5 and 7 market will take positive impact on other sectors, but unfortunately it become more dull and buyer is only interested in Red Zone Sectors.
Now-a-days, it was very difficult to sell plots in some sectors which originally fall in Green Zone. Now for the time being there is no news to make market positive. And everybody is waiting for some good news, like Malir Motorway announcement, etc. Plus there is another thought roaming that DHA might go for new balloting either on its other piece of land which is 8000 Acres, or existing land. Because of this many people are waiting for that and not interested in buying at ON Money price.
New Price Calculation Formula:
As per our suggestion about price calculation based on New Formula, we already conducted the polling in this regard, Alhamdolillah 1000+ plus votes casted, and 70% is in favor of New formula. So, from now onwards we will follow the new formula for price quotes.
Total Price of Plot (July 2014):
Total Price for Residential and Commercial Plots in DCK for the month of July 2014 are as follows:
Note: The above mention plot prices are total accumulated prices and as DCK plots are sold on installment basis, so the remaining installment will be deducted from the full price at the time of full payment. Remaining installment could vary in different categories of plot and also could vary on individual client basis, some paid up to date and some paid less installments. This price means the total plot cost after making the full payment including all the remaining installments.
Price range varies according to Sectors and Sub-sectors. Map issued sectors will also follow the particular Location, Corner/Non-Corner, Small/Big Roads, Park Facing etc.
Decade Cycle of Real Estate:
Besides all this about DCK there is another thought of mine, about the Decade Cycle of Real Estate in Pakistan. According to that theory market is in the phase of stability and we might not witnessed any bullish trend in coming years. Though by the passage of time and different developments creates impact on the market in particular segment, but overall it will remain stable.
Institute of Sustainable Infrastructure (USA) Award:
After a year-long evaluation, the Institute of Sustainable Infrastructure in Washington DC, USA, has given the “International Award” to DHA City Karachi. DCK had now become a sustainability benchmark, which will be followed in developing other cities around the world.
As we are in the Holy Month of Ramadan, business activities become more slower. Not in all the business as many have their season time, but in Real Estate it is very slow period, particularly when market is already in slow pace.
We had budget last month, but there is no major changes, only one new addition is in the shape of Advance Tax, which is applicable on the immoveable properties more than 3 Million (1% for Tax Payers and 2% for Non-Tax Payers). This thing will not create any major impact specially in DCK.
From the Sindh Govt. there is 20% increment in the Collector Value (Still not confirm, waiting for official notification) even this thing will not make any impact on DCK as we follow its own official value, price offered by DHA at the time of balloting in 2009.
So, over all the forecast is same as last months. No major changes expected, even we can say now onwards we don’t have any news for DCK, all the major news and events already done. Though Development work is in as usual good pace, now everyone is waiting for 2016. As DHA endorse Sector 3, 5 and 7 will be live-able by 2016.
During this time only Malir Motorway news could bring any spike. But as always mentioned that for long term investment DCK is ideal investment opportunity and by the time these figures will change and it will produce best ROI in 3 to 5 year time. DCK has very good potential because it is the first ever Planned, Sustainable, Green and Smart City of Pakistan.
These prices are provided by Mr. Muhammad Shafi Jakvani, CEO – CITI Associates. Above mention prices are subject to change any time according to their demand & supply and price can be changed either side in the open market, depend on the volatility of the market. And there is no guarantee of any kind of price variation.
Mostly files traded in the size of 200, 300 and 500 square yards. It does not mean that other categories are not available, but normally these sizes are traded and are available for sale and people are ready to buy files of these sizes. Other large plot may be allotted in balloting but not available frequently in the market.