DHA City Karachi has been among the top 10 most popular societies people on Zameen.com have been looking at. In fact, DHA City has been on the top 10 ranks from the last whole one year and that’s despite the fact that rates here have been declining as of late.
When property possession was granted for residential plots in Sector 3 in September 2017, and new deals were offered in DHA Oasis soon afterwards, many property agents including Imtiaz Siddique of Imtiaz Enterprises expected that property demand for the project will go up. However, this didn’t happen.
Zameen search Trends
In October 2017, DHA City Karachi was ranked as the seventh most popular housing project within the city. In the past one year, the project hasn’t fallen beyond this position. It in fact jumped to the fifth slot twice, once in January this year, and later in April. Since July 2017, DHA City has firmly held the 7th position.
Within DHA City, the top three most popular sectors, as recorded by Zameen.com in October 2017 are
- Sector 6
- Sector 3
- Sector 14
These three sectors have been swapping positions over the last three months, with Sector 14 holding the 3rd spot consistently while Sector 6 and 3 battling with each other for the top position.
Siddique told us that a drop in investment activity has been seen for DHA City, which is the main reason why rates here have been declining. The market rate of plots with possession and premiums on instalments of property have been dropping gradually since the last several months, he added. Khawar Khan of Ayub Estate have told us that investors often head to areas and project where investment activity strengthens and promises to reward them in the short term and DHA City is not that project right now.
According to Khan, the drop noticed since July this year is about 30% while the phenomenon continues. He believes that as soon as the state of affairs in investment preference for real estate buyers in Karachi changes, DHA City will benefit immensely from it. That is expected to happen soon, he stated.
A look at rates
According to Siddique, instalment plans for many plots in some sectors of DHA City is underway and the duration and status of these plans is different. So to give our readers an idea on current market rates we have focused on plots for which the payment plans have been completed.
|Plot size||Price range|
|125 yard2||PKR 3,500,000 – PKR 3,800,000|
|200 yard2||PKR 4,000,000 – PKR 7,500,000|
|300 yard2||PKR 5,500,000 – PKR 9,500,000|
|500 yard2||PKR 8,000,000 – PKR 13,500,000|
|1,000 yard2||PKR 11,000,000 – PKR 14,000,000|
What to do now?
About the investment trends in DHA City, both Khawar and Siddique have observed that after a certain percentage drop in rates is seen, investors head to the project. Siddique is positive that property rates here are currently low enough to entice these investors. He in fact believes that the time has come again to score some returns on the recent drop seen in rates of residential property. His optimism rests on the fact that the DHA is looking to grant property possession in two more sectors of DHA City in 2018.
Whether or not you agree with what Siddique and Khan have told us about DHA City Karachi, let us know what you think about investing here through your comments. Also get the take of the experts on the Zameen Forum by starting a new discussion.