I purchased a plot 30x60 on recommendation of imtiaz sb back in march 2019 in i/16-4. I now want to construct a house to rent. I am not sure if this is a good decision as rental value in i-16 may not be good and i need to construct now for regular income. On the other hand i think if i sell i-16 and buy a 25x50 plot in i-11 it will be much better in terms of value appreciation and rental income from the day it is ready to rent out. What is the advise of experts on this thought specially imtiaz and abdul qayyum sb. Any other thoughts to gain good rental income? Thanks
Of course, when comparing these two then I-11 is better.
What are the rates?
I-16/4 30x60 &
I-11 25x50?
Thank you Khan sb, I am not aware of the real market rates. I am an overseas Pakistani and requiring input from worthy learned members to decide which way to go.
I have been offered a 6 marla nomral location plot in I-11 two weeks back for around 12.3 millions. Not sure if this a reasonable rate and how good is this investment for 2-3 years. Thanks
Construction for renting out in near future. Sure I-11 is better than I-16. The difference in plot price will be an addition to construction cost.
Hamad sb
In spite of CDA's hankey phankeues in both sector, I-11 & I-16, I -11 likely to be good choice in future In Shaa Allah.
I-11, some blocks now getting electricity and WAPDA is now providing electricity to whole sector. Gas still not there, though!
Streets are almost equal to I-16 but I-11 connectivity to main Islamabad is much easier.
However looking into RRR future projects and others , such as medical city & others, in I-16 vicinity, the horse race is on...who would be ultimate winner, time will decide.
I-11, big risk, big gains …
Sir kindly enlighten us, what are the risks involved?
For renting purpose, buy a plot a fully developed plot in I-10/1 25x40 for 10-11 million and build a house, or you can buy a old house in 110-120 budget and renovate that. It will be much secure than both I-11 and I-16. 50-60K rent now a days for two portions. Do not go for letigated plots.
Thank you all and Abdul Qayyum Sb for your valuable input. Imtiaz sb kindly share your analysis. Thanks
Nasir sb can anyone can get a plot or old house in i-10 for 10-11 million ?
Yes i live in I-10 and you can get one in 10-11 million. Infect a house infront of mine is for sale and demand is 1.2 million.
Nasir sb. The size and in which sub sector ?
I-10/1, 25x40 sizes
In 10-11 million , it will be very old house as only plot price there is between 95-11.5 million, in such case better to buy a plot and construct then buying such an old house as its usually not livable.
Yes it will be old, but it can start giving rents immediately. Its all about personal choice. We are just here to suggest all available options and expand the op choices. And let him choose what he thinks is best for him. In I-16 or I-11 OP will not be able to get rents for at least 3-4 years.
@Nasir, please advise what is the rent of the house selling in front of your house and how many bedrooms.
Another good option may be buying 5 marla single story old PHA house/houses in G-11.
My friend bought two units, doubled them and put them on rent. He is happy on his rental returns as most of the renters are families with school going and Uni students in H education block.
Surprisingly the contractor who made these house was an honest man as my friend had hell with breaking of the concrete slabs while renewing them!
@sohail i checked that today and its sold for 11.5, it had 2 rooms and 1 washroom on each portion and 1 small car porch. Normal rent for single portion is 18-25K plus top mumty can be rented out around 12-15K. Here are the pros and cons of I-10/1 25x40 areas:
Pros:
one of the best location in isb & rwp, on main IJP road, near all pakistan public transport. Sabzi mandi and address of Islamabad. Easy to go to all important points of ISB.
Very very good govt schools compared to expensive private schools of rawalpindi.
All universities and colleges official transport available on your street corner that is far cheaper than private transport. This is a huge blessing specially for female students.
approval of 10th avenue is done. So hopefully in next 2-3 years it will be complete and this will further add its value.
Value for money as currently in 10-11 million even mohallahs like bangish colony or dhok hassue are the options for rents. Or one has to find some far away private/cooperative societies.
CDA sectors Tag and safe investment, prices are increasing as currently it seems under valued.
Cons:
smaller street width 25 feet.
living here is a combination of sector living and mohallah living.
I-10/1 is at the last number of CDA priority list.
Sewer water supply shortage issue in some months. CDA is promising that issue is being resolved permanently but God nows when. And this is the main reason for these low rates. If one can afford to bore than its manageable.
Near to pirwadhai, mandi, bangash colony so environment is not that kind of safe here. Lot of beggars and street hawkers.
Thanks for the input AQ sir.