Naya Nazimabad has for long been popular for its affordable housing options. Recently, it also attracted attention for its investment-reliability in times of a confused and nervous market. Where prices and investments in other larger projects have declined, they have risen is this real estate venture.
Located between Nazimabad, North Nazimabad, and North Karachi, the society checks a lot of right boxes. One of these comprises its relative proximity to the city. The Federal B Area is easily accessible; so is New Karachi. And for picky investors, bungalows and plots are both on offer.
New instalment plots were made available in the recently built K and L blocks a week ago. This launch has significantly impacted property prices in the market.
To gain some in-depth know-how regarding this affair, read on below.
Trends: market and prices
The past year has been a good one for Naya Nazimabad. Investor interest in the housing society rose steadily throughout 2018; seen in full through consistently rising prices.
The most interesting development, however, came recently.
Prices saw a significant jump throughout the housing scheme, according to Sohaib Ahmed Siddiqui of TJ Developments. While this is great news for investors, the downside is that the corresponding buyer-interest saw a sharp drop.
Property buyers, at the moment, are keenly observing how the situation will eventually pan out.
In the old blocks, the price ranges stand as follows:
|Plot Size||Average Prices in PKR|
Instalment plots in Blocks K and L
According to Sohaib, the plot sizes debuted in the new blocks include areas of 120 sq yd, 160 sq yd, and 240 sq yd. These individual plots are priced as follows:
|Plot Size||Prices in PKR|
The payment for these plots can be made over a timeframe of 6 months. According to an AB Real Estate representative, prices have been on the rise since the plots first appeared on the market.
According to Sohaib, Naya Nazimabad currently offers a perfect opportunity for short-term investment. How you choose to invest, though, will depend on your budget.
If your budget is low, you should consider blocks K and L.
For those with a slightly higher budget, the blocks M and N are better investment options. This is because housing development has already begun in these sections.
It is, however, still in its early stages.
The roads are currently being constructed. Sohaib and AB Real Estate representative estimated a completion time between 6 to 12 months. The same timeframe should be kept in mind for delivery of possessions in the two blocks.
Are you interested in investing in Naya Nazimabad, Karachi? Do you have any questions or concerns regarding your decision? You can discuss them with us in the comments section below. Alternatively, you can head to the Zameen Forum to engage in an extensive discussion on the topic.