There is an ever-increasing demand for quality housing schemes in Karachi. DHA City and Bahria Town Karachi aim to cater to the high-end segment of the market, but there aren’t enough affordable housing schemes. This is the reason why ever since its launch in 2011, Naya Nazimabad Karachi has seen steady investment coming in.
Covering an area of 1,200 acres, it is the only residential scheme of such a huge size within the city. The area is being developed at an impressive speed. It offers plots and pre-constructed bungalows for the residents. The whole society is gated and protected by security staff.
It adjoins Nazimabad, North Nazimabad and North Karachi. Federal B Area and New Karachi are also nearby. Moreover, Sakhi Hasan Chowrangi is just 2 kilometres away. It is easily accessible from the rest of Karachi due to its proximity to key roads and the upcoming Green Line Bus Rapid Transportation system.
Naya Nazimabad is divided into six blocks – A, B, C, D, M and N. The development work is complete in Blocks A and B, partially complete in C and D, whereas in M and N it has just started. Let’s take a look at the prices and the pace of development in these blocks.
Blocks A and B
Block A features both plots and bungalows, whereas Block B has only bungalows. The basic infrastructure of roads, electricity, sewerage system and water has already been laid in these blocks. Complete possession of plots is available, and a few plot-owners have already started construction.
According to Sahil Estate CEO Shabbir Ahmed, following are the approximate prices of bungalows in Blocks A and B.
|120 sq. yd.||Single-storey||PKR 5,800,000 – PKR 6,500,000|
|120 sq. yd.||Double-storey||PKR 8,000,000 – PKR 9,000,000|
|160 sq. yd.||Single-storey||PKR 8,000,000 – PKR 8,500,000|
|160 sq. yd.||Double-storey||PKR 10,500,000 – PKR 11,500,000|
|240 sq. yd.||Single-storey||PKR 12,000,000 – PKR 15,000,000|
|240 sq. yd.||Double-storey||PKR 14,500,000 – PKR 18,000,000|
Following are the approximate plot prices in Block A according to Mr Ahmed.
|120 sq. yd.||PKR 4,100,000 – PKR 4,500,000|
|160 sq. yd.||PKR 6,200,000 – PKR 7,000,000|
|240 sq. yd.||PKR 8,000,000 – PKR 9,200,000|
Block C isn’t as developed as Blocks A and B, and as a result the prices here are lower. Following are the approximate prices here.
|120 sq. yd.||PKR 3,100,000 – PKR 3,500,000|
|160 sq. yd.||PKR 4,100,000 – PKR 4,500,000|
|240 sq. yd.||PKR 6,000,000 – PKR 6,800,000|
Block D is behind Block C in terms of development, and these are the approximate prices here.
|120 sq. yd.||PKR 2,600,000 – PKR 2,800,000|
|160 sq. yd.||PKR 3,400,000 – PKR 3,700,000|
|240 sq. yd.||PKR 4,800,000 – PKR 5,300,000|
Blocks M and N
Here the development has recently started, and possession isn’t available yet. It only has 120 sq. yd. cuttings, which are available for PKR 1,600,000 to PKR 1,800,000. These can be paid in two equal instalments – the second instalment is to be paid after a year.
The investment potential
According to Sahil Estate CEO Shabbir Ahmed, the prices are expected to go up in Naya Nazimabad in the future as there are genuine buyers who want to buy property here.
He said that since the start of 2017, the plot prices in Blocks A and B have almost doubled as they have seen rapid development. Prices in Blocks C, D, M and N are also expected to rise. From an investor’s point of view, investing in these blocks makes a lot of sense. Whereas, Blocks A and B are definite options for genuine buyers.
What do you think is the future of Naya Nazimabad? Is it worth investing in? Talk to me in the comments section below, or to start a larger conversation around this topic, head over to our and have your say.