Hello, we are three friends that have around 3 million rs and we are exploring safe options to invest in karachi. Please recommend.
I was also looking for investment opportunities in Karachi through this forum, but haven't seen much discussion here. I personally believe specific property trends are much different in Karachi to other parts of Pakistan and probably the authorities here want more khanchey (bribe) from builders and housing schemes than other cities though it doesn't mean rest of Pakistan is free from it. You can see that before entering Karachi's market the bigger brands launch their projects in other cities. Bahria, Smart city etc are a few examples of that.
One reason could be the lack of space within the city, though it is applicable everywhere, but Karachiiets probably are not that comfortable moving outside their city, compared to other cities. I know many people from Karachi who have never been to any other city in Pakistan, but a very few from other city who haven't traveled to different parts of Pakistan. It is not just limited to traveling. Because of lack of opportunities within Karachi (and experiences many people faced in Bahria Town, Fazaia, DHA city or ASF city all located outside main city area), I decided to invest in CSC, Rawalpindi as there is more chance of population and success there than aforementioned projects in Karachi.
However, if you want to invest in Karachi only, then look for the on ground projects and not far away from populated areas. Saadi Garden, Pir Ahmed Zaman Town or Pir Gul Hassan Phase 1 are a few good and safe options and have half the juices left for profit. Go for the on ground plots there.
Another good area is garden city within that budget.
Bhai Abdul Qadir,
I would suggest you to stay away from Bahria Greens, no matter how wide-spread the marketing campaign is – as it is reported to be just a scam intended to boost cash flow. Other projects that realtors recommend are Gulistan-e-Johar, Scheme 33, Scheme 45, Capital Society, Safari Palm Village/Residency and Jinnah Avenue. Affordable properties in these projects will get you decent profits without any risks.