Update (November 5, 2019): In December, the KDA will officially announce the launch of four low-cost housing schemes. The application forms to participate in the balloting for residential plots will be available at the designated branches of authorised banks. To obtain the forms, you will need to pay PKR 5,000, which is non-refundable. These forms must be submitted along with 25% of the total cost of the plot you have chosen along with a copy of your CNIC. It is expected that this low-cost housing scheme will be launched behind Lal Qila Restaurant, Surjani Town, Federal B Area Block 1 and Korangi Town. The design and mapping of the project will begin next month. The construction is expected to be completed within two years.
The Karachi Development Authority (KDA) is poised to launch four new residential schemes to help people buy affordable homes in Karachi. This is great news for a metropolis like K-Town, which happens to be one of the most competitive real estate markets in Pakistan. A significant chunk of the population in the city relies on the government for providing affordable housing units. KDA’s low cost housing schemes in Karachi are expected to create a plethora of property investment opportunities for that segment of the society.
KDA’s Low Cost Housing Schemes in Karachi: Latest Update
KDA Director-General Dr. Badar Jamil Mandhro informed a local TV channel that the development authority will soon formally announce affordable housing schemes in Karachi. This news has brought a lot of excitement amongst those aspiring to be house owners.
As per the local government secretary, these housing schemes will be constructed for people belonging to lower-income populations to address their housing needs and to help them upgrade their living standards.
What’s more, these affordable housing schemes in Karachi will be launched in some of the most sought-after locations of the city. This is all the more reason why people are eager to know more about the project and want to know how they can apply for KDA’s low cost housing schemes in Karachi.
Where is KDA going to launch these affordable housing schemes?
As mentioned above, affordable houses in a large city like Karachi is the need of the hour. Karachi Development Authority has chosen residential areas that house a considerable population and already have most of the basic amenities needed to lead a comfortable life.
KDA’s housing scheme in Karachi will be launched in Surjani Town, Federal B Area Block-1, Korangi and KDA Scheme-1. Once this project is officially launched, it will be properly advertised in newspapers.
What will be the expected area sizes of the houses?
As per a news report published in a local English daily, “The housing schemes contain both flats and plots measuring 80 square yards, 120 square yards, 200 square yards and 240 square yards. These will be the first housing schemes introduced by the KDA in 20 years. The last one was the 1999 housing scheme near North Nazimabad’s Five Star Chowrangi.”
It is also expected that the housing scheme will have more high rises which will be in accordance with PM’s vision of vertical cities. These high rises will also comprise room for green spaces and accommodate more people in smaller square footage area.
Let us discuss each area in detail where KDA will be launching the project. We will also take a look at the property prices in these popular areas.
One of the neighbourhoods of Gadap Town, Surjani Town is only 18 minutes away from New Karachi, another well-reviewed area in the city. It has 17 sectors. It spans an area of 6,600 acres of land that belongs to the Karachi Development Authority. Among the 17 sectors of Surjani Town, the 15 sectors have been set aside for housing schemes that were launched by the KDA in 1984, as per a news report of a local TV channel.
In Surjani Town, you will find plots and houses that are mostly smaller in sizes. These plots are of 60, 80 and 120 sq yd. You can also buy ready-to-move-in houses in Surjani Town that will cost you anywhere between PKR 15 lakh to PKR 1.5 crore.
Federal B. Area Block-1
Federal B. Area is one of the oldest housing societies in Karachi, dating back to the 1950s. It has various blocks offering affordable housing units to Karachi’s residents. Federal B. Area, is also known as Gulberg Town. It is divided into 21 blocks. Of the 21 blocks, 20 blocks form the residential area and the remaining one makes the industrial area.
Enjoying a central location, Federal B. Area is surrounded by North Nazimabad, Buffer Zone and Liaquatabad. Federal B. Area Block 1 is located on the south side of Shahrah-i-Pakistan. These blocks border the Liaquatabad area and are separated from it by the Karachi Circular Railway Track.
People prefer buying houses and plots in Federal B. Area Block-1 because of its prime location. You can find houses in Federal B. Area Block-1 from PKR 1.8 crore to PKR 2.9 crore.
Korangi is a large town in Karachi, comprising nine union councils and is quite a popular area amidst the middle-income group. People prefer living in this part of the city because almost all basic necessities are provided to its residents. Also, access to healthcare facilities, schools, colleges and higher educational institutions are also accessible.
There are a number of houses and plots available for sale in Korangi. Houses for sale in Korangi Town would be in between PKR 19 lakh to PKR 6.5 crore, depending upon its size and proximity to various amenities.
KDA started its development plan by launching its first project known as KDA Scheme-1 in Karachi. It was built by the presidential order by President of Pakistan in 1959 for Karachi’s development and also to rehabilitate refugees. KDA Scheme-1 has many luxury houses and flats available. But there’s a lot more to the area than just beautiful houses.
People buy houses in KDA Scheme-1 because of its prime location and number of amenities offered to its residents. Ready-to-move-in houses in KDA Scheme-1 can be bought anywhere between PKR 5 crore to PKR 25 crore.
So, these were the latest updates on KDA’s low cost housing schemes in Karachi. You can also check out Naya Pakistan Housing Scheme, another popular low-cost housing scheme launched by the government, on our website. Do read our piece on how to register online in Naya Pakistan Housing Program. Since the process has been digitized, it only takes 10 minutes to register in NPHP.
We will be sharing more details as soon as there is an official announcement with regards to KDA’s low cost housing scheme in Karachi. Stay tuned for more real estate related posts to the best property blog in Pakistan. Do share us your feedback at email@example.com