Under the new government’s mini budget, the Finance Minister Asad Umar announced that the bar imposed on non-filers for buying property worth over PKR 5 million in Pakistan has been removed. This, according to Umar, has been done to accommodate overseas Pakistanis who are unable to file taxes in their home country, which ultimately bars them from buying property here.
This is a good and much-needed development for overseas Pakistanis. The property experts believe that this would bring about a robust change in the real estate industry,and the property market under PKR 5 million would also prosper. This is because this bracket especially caters to genuine buyers.
The list below is of good property options under PKR 5 million in the twin cities.
This is the top-performing locality in Islamabad right now. The project features plots of 7, 10, and 12 marlas, as well as 1 and 2 kanals. A 10-marla plot here costs PKR 4,300,000- PKR 5,000,000 in all blocks except A, F, G, H and I, where prices are slightly higher.
The Central Board of Revenue Employees Cooperative Housing Scheme (CBRECHS), more commonly known as CBR Town, has consistently been at the top of the most sought-out locations. Plots of 5, 6, 7, 8, 12, and 14 marlas are available and can be bought under PKR 5,000,000, depending on the plots’ location.
Multi Professional Cooperative Housing Society (MPCHS)
This project has always been a prominent one and had a larger share of investors and buyers. A 10-marla plots costs between PKR 3,785,000- PKR 5,000,000, whereas a 1-kanal plot costs PKR 6,350,000.
Capital Smart City
The project features smart home technology, which will make living more convenient by facilitating everyday tasks. A 5-marla plot here costs PKR 2,100,000, whereas a 12-marla plot costs PKR 39,800,000. The price includes the hi-tech facilities that are sure to increase the value of property here, and promise higher returns in the long run.
Al-Kabir Town has a per marla price of PKR 500,000, and possession is also available. The project features 3-, and 5-marla plots offering good value for money, which means that there is high investment turnover.
Al Mairaj Garden
Al Mairaj Garden has plots of 3, 4, 5, 8, and 10 marlas, as well as 1 and 2 kanals. Development in this housing society is being carried out at a good pace, and possession is expected to be given within the next two years.
This project has 3-, 5-, and 10-marla residential plots. A 10-marla plot here costs PKR 2,500,000, which is affordable. However, the project is still in its initial development stage and prices are expected to increase only after there is enough visible development in the area.
Bahria Town is a trusted name in the real estate industry of Pakistan and its Phase 8 is in Rawalpindi. Here, a 5-marla plot costs PKR 2,500,000, whereas a 10-marla plot costs PKR 5,000,000. Investment here is bound to promise higher yield and good investment turnover.
Bahria Enclave is offering 10-marla residential plots for PKR 5,000,000, which also offers good value for money and promises high investment turnover.
The above data is taken from the Zameen.com Property Listings page and blogs. If you have any more queries or feedback, please comment below.