{"id":77752,"date":"2021-07-08T12:15:26","date_gmt":"2021-07-08T07:15:26","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=77752"},"modified":"2021-07-08T12:15:32","modified_gmt":"2021-07-08T07:15:32","slug":"karachi-feature-3k-apartments-mortgaged-20yrs","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/karachi-feature-3k-apartments-mortgaged-20yrs.html","title":{"rendered":"Naya Nazimabad, Karachi to feature 3,000 apartments on mortgaged plan spanning 20yrs"},"content":{"rendered":"\n<p>Karachi: The developers of Naya Nazimabad will be launching a 3000 apartments project in the port city Karachi with a 20-year mortgage plan, news sources reported. The programme will be launched after the Eid-ul-Adha.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/secp-first-sharia-compliant-reit-introduced.html\" target=\"_blank\" rel=\"noreferrer noopener\">SECP first Sharia-compliant REIT scheme introduced<\/a><\/p>\n\n\n\n<p>According to the sources, the Naya Nazimabad Developers Javedan Corporation will be developing the project in collaboration with the major banks and REITs.<br>Some of the biggest REITs include Habib Equity, which owns 26.6 % of Javedan Corporation, Arif Habib Corp, which owns 7.45 %, and Arif Habib personally owns a 5.76 % share of the company.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/secp-asks-for-feedback-on-amendments-to-reit.html\" target=\"_blank\" rel=\"noreferrer noopener\">SECP asks for feedback on amendments to REIT regulations<\/a><\/p>\n\n\n\n<p>Furthermore, according to the intended plan, the owner will have to pay 20% of the apartment worth, while the rest of the payment will be made by the banks, and the owner would have to pay the bank in simple monthly instalments over a 20-year period. In this regard, the <a href=\"https:\/\/www.zameen.com\/news\/multiple-banks-sign-low-cost-housing-finance-agreements-with-pmrc.html\" data-type=\"post\" data-id=\"74582\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage Refinance Company<\/a> will make cash available to banks for mortgage facilities.<br>The project&#8217;s developers, Javedan Corporation, previously constructed the Naya Nazimabad Project and sold 6500 residential and commercial plots in the phase 1 of the venture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The developers of Naya Nazimabad will be launching a 3000 apartments project in the port city Karachi with a 20-year mortgage plan, news sources reported. The programme will be launched after the Eid-ul-Adha. Read: SECP first Sharia-compliant REIT scheme introduced According to the sources, the Naya Nazimabad Developers Javedan Corporation will be developing the project in collaboration with the major banks and REITs.Some of the biggest REITs include Habib Equity, which owns 26.6 % of Javedan Corporation, Arif Habib Corp, which owns 7.45 %, and Arif Habib personally owns a 5.76 % share of the company. Read: SECP asks for feedback on amendments to REIT regulations Furthermore, according to the intended plan, the owner will have to pay 20% of the apartment worth, while the rest of the payment will be made by the banks, and the owner would have to pay the bank in simple monthly instalments over a 20-year period. In this regard, the Mortgage Refinance Company will make cash available to banks for mortgage facilities.The project&#8217;s developers, Javedan Corporation, previously constructed the Naya Nazimabad Project and sold 6500 residential and commercial plots in the phase 1 of the venture.<\/p>\n","protected":false},"author":84,"featured_media":61673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15013],"tags":[46756,4317],"persona":[],"class_list":{"0":"post-77752","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"tag-javedan-corporation-to-build-3000-apartments","9":"tag-naya-nazimabad-karachi","10":"cat-15013-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Karachi to feature 3,000 flats on 20yrs mortgaged plan - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The developers of Naya Nazimabad will be launching a 3000 apartments project in the port city Karachi with a 20-year mortgage plan, news sources\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/karachi-feature-3k-apartments-mortgaged-20yrs.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Karachi to feature 3,000 flats on 20yrs mortgaged plan - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The developers of Naya Nazimabad will be launching a 3000 apartments project in the port city Karachi with a 20-year mortgage plan, news sources\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/karachi-feature-3k-apartments-mortgaged-20yrs.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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