DHA City Karachi prepares for ballot as investors gear up for big buys - Zameen News

DHA City Karachi prepares for ballot as investors gear up for big buys

June 13, 2017 • news

DHA City Karachi announced in April that it was launching new plots - and the time has come for the ballot to officially take place. Preparations are underway for the event to take place on June 14.

Numerous applications were received for the limited number of plots that went on offer, all available through a convenient four-year payment plan. The computerised ballot will be held on June 14, at DHA Country & Golf Club in DHA Karachi, at 3:00 pm.

The ballot will be transparent and executed through the system used in all DHA projects. With DHA City Karachi’s experienced team, which has been carrying out these tasks in the past, we expect to see an efficiently conducted ballot. Hopefully, the ballot results will be shared on the DHA Karachi’s website soon afterwards.

If you are looking to attend the ceremony, please note that it is open to public.

Details on plots included in the ballot

The plots launched in April on a four-year payment plan were an irresistible deal for many, primarily because no major real estate developer has been offering such a convenient payment plan. In addition, DHA City Karachi has seen major development, with many sectors already in advanced development stages. The project looks potentially rewarding in terms of experiencing a surge in rates.

Check out the payment plan that was given out at the time applications were being filed:

Plot Type Processing fee Base Price Down Payment (10%) Sixteen equal quarterly instalments
125 square yards PKR 8,000 PKR 3,750,000 PKR 375,000 PKR 210,938
250 square yards PKR 10,000 PKR 7,500,000 PKR 750,000 PKR 421,875
300 square yards PKR 12,000 PKR 9,000,000 PKR 900,000 PKR 506,250
500 square yards PKR 15,000 PKR 15,000,000 PKR 1,500,000 PKR 843,750
600 square yards PKR 18,000 PKR 18,000,000 PKR 1,800,000 PKR 1,012,500
1000 square yards PKR 20,000 PKR 30,000,000 PKR 3,000,000 PKR 1,687,500

Post ballot predictions

In any housing society, plot that are smaller in size are always more attractive for investors. It is often these plots where the asking profit is higher. Since DHA doesn’t share information about the number of plots it has on offer according to size before the ballot, we can’t tell if small-sized plots are fewer in number.

In addition, with smaller amount to be submitted as down payment and an affordable quarterly instalment, small sized plots always interest a bigger number of genuine buyers. So, it is likely to be the successful applicants of 125-, 200- and 300-square yard plots who will ask for higher premium.

Investment tip

Due to the taxes incorporated last year, many folks refrained from making any investments. This sluggishness in the market brought property prices down in almost all cities of Pakistan. In DHA City Karachi, property rates also plunged by 20% during the last several months.

A drop of 20% means that rates can potentially go up by 20% and that too in a rather short term. This makes now a pretty appropriate time to invest in DHA City Karachi.

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