The Airport Security Force (ASF) Housing Scheme Karachi offers one of the most attractive property options in Karachi. While there are many things that don’t seem too ideal for investment, such as the distance of the project from the main city centres and slow development; the former is a preferred feature for many buyers, and the latter is just about to change.
This change is going to come from the plot balloting that is scheduled for the 14th of August. All of the buyers who’ve bought property here on instalments will know exactly where their property is located and this will help them better understand prospects for their investment.
The location of the project has also changed, from close to Karachi-Hyderabad Motorway to close to DHA City. The new location is much better and more preferred and is the reason why most new investors seem interested in the project.
What buyers/sellers should know about
According to Hammad Khatri from DK Investment, ever since the news of balloting has surfaced, there has been renewed interest from the buyers and sellers. Plots have been put up for resale as well, which hints that the market for ASF Housing Scheme Karachi is really climbing up.
Previously, the first ballot was held in 2017, after the project was formally inaugurated in 2016. The approaching ballot is for all those people who have paid at least five instalments. The sixth instalment has to be paid by the first week of September. The news has renewed people’s motivation for the project, according to Khatri. They seem more interested than ever to pay instalments and get a hold of their property details.
As a result of this, the value of property here has increased. According to Khatri, the price of a 125 sq. yard plot has increased from PKR 135,000 to PKR 150,000. According to Syed Ghazanfar Abbas, a seller, the price of a 125 sq. yard plot is bringing in an ‘own price’ of about PKR 400,000 to PKR 500,000 on paid instalments. Abbas himself has a plot here, and has paid almost PKR 500,000 in instalments for a total value of PKR 600,000. He is expecting to be paid PKR 650,000 to PKR 700,000 for his instalments as soon as balloting is done.
Erum, another seller in the area, believes that the project has immense potential, but that it will take some time before emerging on the real estate scene. She attributes this to the realignment of New Karachi towards the Karachi-Hyderabad Motorway. This is primarily because projects like DHA City and Bahria Town Karachi are also being established here. It comes as no surprise that because of development in this area, ASF Housing Scheme too will be generating profits.
After paying a certain amount, Erum has resorted to selling it and is hopeful that it will bring in some profit, mainly because after the ballot, the prices of plots are going to increase.
ASF Karachi is a fairly new project, not much significant development work has been done and even then it is picking up pace.
If you are looking for a long term investment, this is the project you should be headed for!
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