I have a total of 7-8 million.. Want to buy plot & build a house for good rental return. Mainly looking for newly developed sectors like I-14 etc. Your suggestions with b welcomed.
Thanks
Don't go in I series, buy a 5 marla plot in G-13 and construct it then rent it out, if you have no other option or if you think this is the easiest way plus you want to hold a asset.
But i will never recommend this, as i have myself constructed two houses in G-13 and have rented them out, i don't want to sell them, their is no Gas, Water and many other issues, but they will resolve with the pace of time. When i compare this rental income with the buying/selling of plots business, that looks much more attractive/easy and hassle free.
Plus you can buy a ready flat in G-11, Islamabad PHA or Housing Foundation rather then constructing a house and later on renting it out.
Rather than I-14, you can buy in other areas. You can buy files in such societies such as Faisal town, Top City, Mumtaz City, PECHS, B-17 Multi, Gulberg, JKCHS F-16, DHA Phase 2 Ext, DHA Valley.
or you can buy possession plots in societies, which you can start construction the next day! These include, AWT, ECHS, B17 Multi, CDECHS and Soan Garden. These societies still have a lot of potential and I think you should diversify your portfolio and buy small plots in different societies and buy files where possession is nearing! Investigate these places before buying.
Nasir Sb, I don't think he can buy and construct a house of 5 marla in his range in G-13.
I agree with the suggestion of Sheikh Sb, by buy small plots and files, the return will too high and immediate.
Regards