I came across an ad in yesterday jang regarding pak fazaia overseas blocks. I think the blocks consist of villas and apartments.
They provide 2-bed for 60 lac in 5 years instalments.
I would like to know the merits and demerits of this investment for overseas pakistanis.
Total rentable area is 76%. So for an area of 1484 sq ft, 1129 sq ft is rentable. The price include one car park space. Additional charges are around 10% of the price of apartment. Location is said to be 20 min from Karachi AirPort and 30 min from some civic centre.
Fazaia project’s location is arguably the worst among all societies in Karachi. That’s why people are avoiding investment in this scheme.