Hello everyone,
How is a.m. Society in rawalpindi from building one's house (not from investment perspective). My questions are:
1) is this society legal? I heard there is no court registry so how this works?
2) if i buy one kanal plot for 45-50 lacs, is it worth?
3) how has this been performing in real estate market of rawalpindi?
Thanks for your reply in advance.
Anyone please?
I don’t think it is legal in the sense of having an NOC from RDA. Many houses are built and people are living there. The society also has 3 phases completely occupied nearby. The location is quite convenient although it could do with better approach roads. I don’t think there is any gas yet in Phase 4.
Lahore is currently most attractive city of Pakistan in terms of Property Investment. But what attracts more to investors is Return on Investment (ROI).
I will prefer and suggest the area of Mominpura (Ring Road) for investment. Right now the ROI which is proved to my other investors is around 25-40% which is very high as compared to DHA and Bahria where ROI is merely 1-2%.
Mominpura is 1km from ring road and 1/2 km from Lahore Orange Line Metro Train. You can get 9 marla plot in 1,710,000 Lac. After metro train is started, you can sale with lot of benefits or make your home. For details contact Mohd Tanveer Dogar +92-306-9630393
Dear Muhammad,
I have couple of houses in sector 1 and sector 2 both are on rent , ,society has performed excellent in the last few years and there is a huge scope for further increase once the new signal free road is completed from Faiz a abad to airport chowk ( 1st phase of signal free road which is from zero point to faiz a abad is already completed)
in my opinion this will be hot place as travelling time from Islamabad to airport society will be much less due to signal free road which also means rental and property value will definitely go up.
Rest Allah knows better
Thanks everyone for their reply specially Anees who has first-hand experience of this society.
Aneesh, I completely agree with you that this will be hot place in years to come due to its excellent location. I shall be grateful if you can answer some of my other questions such as:
1) legal status of this society? do they have NOC?
2) There is no court registry so is it safe to leave a plot for long term say 2,3 years without any construction or is there any land mafia active in this society?
3) How is society management? I mean from reputation and credibility point of view.
Thanks a lot for your reply.
Tayyab
When I had purchased my houses it was file transfer in the society office and they are keeping video and photo records , I have never heard any issues in the last 5 years.
Regarding NOC I am not sure so better you check with society office directly.
Keeping plot for couple of years I don't think there is any issue but of course one has to keep an eye frequently.
Dear Anees,
I also agreed to u, i live in Gulzar-e-qaid adjacent to society & it is very good located to travel islamabad or Rwp, i hear that they will start link road from bahria to society is it true?
I also booked a plot in sector 4
Http://realestateislamabad.blogspot.com
Airport Housing Society Rawalpindi Airport housing society is next to Gulzar-e-Quaid and airport in Chaklala. The main approach is the airport road onwards passing through Gulzar-e-Quaid. An alternate road that links directly with Pindi Through sector 4 is in very poor condition and not recommended for cars, however many people use the roads on their motor bikes.
Distance from airport is around 4 kilometers and 7 minutes drive whereas distance from Faizabad is 11 kilometers and 15 to 20 minutes drive and Pindi Saddar is about 9 kilometers away with 20 to 25 minutes drive time.
The society has four sub-divisions i.e. Sector 1, 2, 3, and 4. Sector 1, 2 and 3 are adjacent to Gulzar-e-Quaid whereas sector four is about a kilometer away from the rest of the society. The area between sector 4 and the rest of the society is a small local settlement (village) called Jabbi.
Sector 1, 2 and 3 are mainly larger plots of Kanal and 10 Marla and sector 4 is all five Marla. Infrastructure wise 1,2,3 are better and have underground electricity and also have gas. Streets are decent sized but not very big. Maintenance is average not very high class but not too bad either. Construction and occupancy is very high and very few plot are left for construction. Cost of a kanal house ranges from Rs. 18 million to Rs. 25 million depending upon location, construction and age of the house. Smaller houses of 10 Marla are in the range of 9m to 13m.
Sector4 is all small plots of five marlas (25*45); the sector is further divided into several sub-divisions, starting from A and going upto k or probably higher. Initial area of sector 4 is heavily constructed but as we go deep into the sector construction gets thinner. Electricity cabling is above the ground and creates a lot of clutter in front of houses. Plot price ranges from 22lacs to 32 lacs and house price is between Rs. 6.5 million to Rs. 7.5 million. Rental income from a complete house is between 22 thousand to 25 thousand.