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.
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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