Final call : buying a one bed apartment in e-11/2

It is a final call because the deal is under negotiations. It is 520 sqft. Small apartment , already rented out at 25,000 ( i met the husband and wife living there ). The apartment has the gas connection ( very few apartments have it these days )
I have been looking into apartments / shops and have narrowed it down to this place. "land mark plaza" in e-11/2. I liked the place because of its cleanliness and maintenance standard. All apartments are on rent already. I found land mark plaza more cleaner then abu dhabi towers f-11.
Deal will be finalized a little under 40 lacs , insha allah !!!!

1. Wanted to get your opinion on land mark plaza
2. Your opinion on e-11/2 .. (google land mark plaza you will see the location)
3. Investment to return ration 25,000 rent on 40 lac investment
4. Future perspective ? And general advice

At present i am finding it better and more secure then million of plot files roaming in real estate. And the reason it is already rented out

Needless to ad that I am buying it as a secure investment and the fact that it’ll give some monthly return

Very small apartment just like a studio, price vs sqft is high vs e-11/2, you can get something better in e-11/4 near to main margala road.

Nothing is ready in E-11/4 .. All flats on installments .. Possession in 2017-2018 or God knows when........

Tenants are living here , It has a gas connection and i found it very rare in the new projects (apartments) ... There is one office of on the ground floor of the builders who maintain it. It is the corner plaza and open from three side and apartments has a separate entrance... 2000 are the monthly maintanance charges but it is worth it , it is one of the cleanest localities in E-11 that I have seen so far .. The next cleaner place was Al-Safa-II tower where 800 sqft studio apartment is 80 lac rupees .... Rent is 40k there

V, Have you visited PHA and FGEHA in G-11/3? how do you compare it with them? what about khudadad heights?

Congrats brother V. Finally you found something worth investing. I too am looking for rental properties. Apartments are easy and hassle free but i am leaning towards building a small 4-5 marla house. What are pros and cons of both?

@Imran Khan >> E-11 is more developed from G-11 , I think all agree on this .. CDA just auctioned 2.77 acres land for 3-Star Hotel in E-11 Northern Strip.. All the more reasons to buy there. I have seen many apartments in F-11, E-11 , F-10 and G-10,G-11 and even Bahria as well ...

@Pakola Building a house on your own land is definitely worth it .... You can get 10-20 lacs profit on a small house

V, it's good they you have done quite home work for this purchase. I am also with same plan and situation.

Please keep us updated about it till purchase is finalised. I have checked Google there are planty of buildings in same area where you are dealing so I hope it must be the good one.

Also check if apartment can be rented as commercial or residencial with rental difference.

V, advance congratulation on your deal. Please do check if they have proper NOC clearance from CDA or which ever society it falls under. I’ve read somewhere in the CDA announcement that few buildings have no NOC in E-11.

Asad Malik right before any any deal must clear NOC.I think PHA apartments are much safe and good and other hand Bahria phase7 is also good option.

Regards

Welcome back Nadeem bhai, yes i also think that PHA would be safer and better, but now as V has made all the efforts in finding this flat so it's better to focus on this area, pha apartment prices are little high and rental income is little less than what he found.

I think that there might be competition environment in E-11 which being developed by mostly private developers and they'll definitely try to make better designs and maintenance services, pha lacks any maintenance services and should be arranged by owner or all block owners.

Dear Imran Khan bahi,

Many thanks Imran bahi may Allah bless you ever.

I didn't say that,s bad option.I just advice him to clear NOC before any deal because in some area developer don't have NOC and in future they can't get connection of electricity and Gas.

Regards

Nadeem Sb, Jee aaaya nooo....

To me this looks a good deal... If the internal design of the apartment is some how reasonable and structure of the building is OK...

Regards

Would u like to share details about this building:

I mean how many apartments and sizes?

and any further details.

Regards

Investing in property is a long term endeavor. Especially if you are looking for rents yield. Go for it with confidence bro. In a few years when then price is 30 percent more and you have enjoy s few years of rental yield, you will be looking pretty. Zone 1 is zone 1 after all. Regardless if you own a house, apartment or garage.

Congratulations. Enjoy a dinner at savour if the food authorities has allowed it to open again.

Khan007 Sb,

I don't think it was closed down for more than a day or so?

Regards

Guys .. Here is the list of illegal construction in E-11 .. For your future references as well

http://manahilestate.com/cda-issues-list-illegal-constructions-sector-e-11-islamabad/

I will finalize the deal on saturday Insha Allah as I am currently out of town

Just asking for general knowledge … What happens if God forbid something happens to the building in such multi story apartments type construction …

Experts comment on this .. This plaza is in E-11/2 Services Cooperative housing society and according to CDA , SCHS has not acquired NOC ... And NAB is preparing something againt illegal societies .. So will it have any impact in the future on the plaza / tenants , people living there ??

  1. Http://nation.com.pk/islamabad/15-Sep-2015/nab-readies-to-act-against-105-societies

  2. Http://www.cda.gov.pk/housing/society.asp?varId=30

I personally feel that nothing will happen to projects in E-11... The rest Allah SWT knows better.

Regards