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DHA City Karachi Made Common Pakistani a Millionaire!


DHA City Karachi Made Common Pakistani a Millionaire!

DHA City Karachi (DCK) is the first Planned, Sustainable and Green City of Pakistan. This is the first time in the history of Real Estate in Pakistan that a huge project of this kind is launched which is spread over 11640 acres of land. DHA City Karachi is divided into 16 sectors, further every sector is divided into sub-sectors.

The initial balloting of plots was done in 2009 and almost 27000 plots has been balloted in different sizes and categories to Civilians, Army Officers, DHA Staff etc. This happened for the very first time in the history when DHA Karachi balloted plots to civilians directly. Earlier it was not like this, where DHA only allot plots to Army Officers and later these plots has been resold to civilians.

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As is obvious, DHA Karachi ballot these plots at very lower price and give benefit to their allottees by reselling these plots in the market at higher price. This time, this opportunity was provided to a common man too.

Plot Demographics:

Residential:

  • 200 Square Yards – 5084
  • 250 Square Yards – 14
  • 300 Square Yards – 5928
  • 500 Square Yards – 13274
  • 1000 Square Yards – 1357
  • 2000 Square Yards – 137

Commercial:

  • 200 Square Yards – 1072
  • 300 Square Yards – 187
  • 500 Square Yards – 81
  • 1000 Square Yards – 20
  • 2000 Square Yards – 8

As DHA Karachi is a very well reputed authority for many years because of its clear and crystal documentation procedure. People are willing to buy plots in DHA. For the DHA City Karachi (DCK) project, people showed their interest in buying and almost 40,000 application were received in 2009, out of which 20,000 applications were successful and got the plots. These 20,000 people had an opportunity to be a Millionaire. Though out of these many are already but this is the opportunity for rest of the people who are not.

This is very interesting to know that a large number of people become Millionaire by only submitting DCK Application Form (with very small amount) for getting the plot. There was no limit to submit the application, means a single person can apply for many plots, and many people have got multiple plots.

After the initial balloting in 2009, there was no activity in the market and plot prices were stagnant till 2011. Some people were paying their installments on regular basis whereas many applicants didn’t pay a single installment after paying the initial amount.

Once the market comes in positive Real Estate Cycle, price started going up in DHA Karachi and people started buying plots. DHA City Karachi also get the impact of this positive cycle and price started going up. It is very interesting that market moves up and down during this whole period and finally DHA Karachi announced the balloting of plot numbers in April 2013. After this balloting of plot numbers, market has been settled and finally it is at highest price ever in July 2013.

ON/Premium Amount

One more positive thing happen when DHA Karachi announced waiver of surcharge on outstanding payments against all plots in the shape of quarterly installments. This become a free ride for everyone and if anyone have 1 or more plots just sell in the market on huge price premium and become a Millionaire without investing funds besides the initial amount submitted at the time of balloting which was in thousands only.

We already witnessed many examples that a person have more than one plot and didn’t pay any installment, only initial payments, and at this stage sell these plots at minimum price of 1.5 million. This price can vary to 2 to 6 Million in different sizes, types and categories of plot. This is really a life time opportunity for many people, and dreams of many have comes true, and now people are in the position to achieve their goals.

Thanks to DHA Karachi by giving this opportunity to a common man of Pakistan, because normally this kind of opportunities are only given for a particular class who have already made millions and multiply it. But in this case,  DHA City Karachi Made Common Pakistani a Millionaire!

Case Study # 1

A person applied for 5 plots of 500 square yards each. All the applications were successful and he got the 5 plots of 500 square yards with one in Red, two in Yellow and two in Green Zone. At this stage he sell all 5 plots in current market prices, and he can get around PKR 12 Million in the shape of Price Premium.

Case Study # 2

A person who applied for 2 commercial plots of 200 yards, one 500 yards and one 1000 yards residential plot. Luckily his commercial plots are allotted in Central Business Sub-District (CBD), and both residential plots are in RED zone. Then he can get around 20 Million in the shape of Price Premium.

There can be many other example that can be shared here and definitely there are many others who got this opportunity are not in our knowledge but this happened and we really feel good about this that a common man could have this kind of opportunity because of DHA Karachi and the presence of Positive Real Estate cycle. Many Thanks to DHA Karachi!

Note: This information is provided by Mr. Muhammad Shafi Jakvani, CEO – Citi Associates.

Citi Associates – Real Estate Consultancy, Brokerage and Investment Services

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