Real estate is the best investment in Pakistan and the easiest way and the safest way to invest in real estate is by buying property in a housing society.
The worth of the real estate sector, mainly from the housing societies perspective, is somewhere between 15 to 20 trillion rupees. But unfortunately, fraudulent practices are also at their peak in this industry. Many developers have started housing societies but intend to do nothing but rip people off their savings. According to official statistics, at least 69 percent of all housing societies in Pakistan are not registered. Almost 6,000 housing societies out of a total of 8,767 are not registered with the relevant authorities such as LDA, RDA, CDA. These 6,000 illegal housing societies have documentation that is either incomplete or forged. Over 4,000 charges of fraud and corruption have been filed against 500 organizations and the total value of these fraud cases exceeds Rs300 billion. A society can be offering stars and sun but by putting money in these societies, an investor can end up with mere losses.
From thousands of housing societies, just 2,767 housing societies are running legal operations. And from these only a handful can be said as “best housing society in Pakistan" from an investment perspective.
Aspects of the best housing society in Pakistan
If you’re looking forward to investing in a housing society in Pakistan, make sure it possesses the following features.
- It is a project of credible developers. The more developers have a footprint in the industry, the more legitimate their practices are. Moreover, investors should go through their previous work to check if they delivered whatever they promised in their previous housing societies/real estate projects. A developer is the one who's going to provide the residents with every amenity, so the track record and legitimacy are some of the most important factors.
- Housing society must be easily accessible. If not in the main city, it should be at least in the vicinity of the prominent infrastructures and main areas of the city.
- One of the most significant features of the best housing society in Pakistan is that it should have permission from concerned development and planning agencies, such as the LDA in Lahore and the CDA in Islamabad. A residential project that has been approved and verified by a local development body is almost certainly free of property frauds and scams. As a result, it is a safe area to invest.
- A housing society should be a gated community to maximize the security of residents.
- Basic infrastructure must be developed and basic utilities must be available for residents. In addition, good infrastructure, a network of large and well-paved roads, and underground electric wires are some of the features that make a housing society more appealing to buyers. Furthermore, efficient drainage and sanitation systems, green belts and parks, cemeteries, dedicated parking places, pathways and sidewalks, pedestrian crossings, should be there in a housing society to stand out as the best housing society in Pakistan.
- Two of the most important characteristics of a successful housing society are affordable prices and easy payment plans. All good and prominent housing societies provide a variety of housing alternatives as well as payment plans to entice purchasers from various economic backgrounds.
Based on these criteria, 5 best housing societies in Pakistan from an investment perspective are:
3.Gulberg Greens
Lahore Smart City
All of the societies mentioned above meet the criteria of a good housing society, but Lahore Smart City is offering a lot more to the residents.
Lahore Smart City is the 2nd smart city of Pakistan, 25th in the world, and 5th in Asia. In other smart cities of the world, prominent names are Singapore, Helsinki, Zurich, Oslo, Amsterdam, New York, and Seoul. LSC and its sister housing society Capital Smart City intend to provide the residents with the same living standard which the residents of first world countries enjoy.
Launched just a few years back, it is already providing investors with extremely healthy profits. With that, it is LDA-approved and has all permission a society needs to operate legally, from all the concerned authorities.
The most distinguishing feature of Lahore Smart City is its location. The N-5 highway and the Kala Shah Kaku motorway interchange are also nearby. The society's main gate is within a few minutes' walk from the Motorway Police Station, Rana Town, and the University of Health Sciences, all of which are popular tourist destinations in Lahore.
Future Development Holdings and Habib Rafiq Group, both well-known names in Pakistan's real estate and construction sectors, collaborated to bring the vision of this project to life. Lahore Smart City prices are still relatively low when compared to other housing societies in the same category. All the payment of the plots in this best housing society in Pakistan is divided into 3.5-year installments, with a total of 15 quarterly installments during that time period.
Park View City Islamabad
Vision Group is the developer of this project. The founder and CEO of this development firm are Mr. Aleem Khan, a well-known politician, businessman, and real estate developer.
Park View City Islamabad is located in Islamabad's Zone IV, 15 minutes from the Serena Hotel in Islamabad, right next to the Bahria Enclave. The primary entrance of the society is at Rawal Chowk, while Gate 2 is towards Barakahu. All of Islamabad's major attractions, as well as Rawalpindi's, are conveniently accessible from the location of the society. Moreover, this housing society is actually within Islamabad's city limits, unlike a number of housing societies that use the name Islamabad but are located in the city's proximity or outskirts.
NOC of this project is also approved by CDA and it is offering easy installment plans for the following plot categories:
- 3.5 Marla
- 5 Marla (26” x 50”)
- 8 Marla (30” x 60”)
- 10 Marla (35” x 70”)
- 1 Kanal (50” x 90”)
- 2 Kanal (75” x 120”)
Compared to other housing societies mentioned in this list of “best housing societies in Pakistan”, the plots in PVC Islamabad are relatively expensive, but this expense is worth it as the returns are guaranteed.
Gulberg Greens
Gulberg Green, an initiative of the Intelligence Bureau Employees Cooperative Housing Society (IBECHS), has lauded the twin cities' excellent infrastructure. It is located just a few minutes drive from Grand Trunk Road, near Airport Chowk on the major Islamabad Highway. Naval Anchorage, Jinnah Gardens, Korang Town, Pak PWD, Pakistan Town, and Bahria Town are all major housing complexes located just across from Gulberg or in the surrounding areas. Compared to Bahria and DHA, it is a lot closer to the main areas of Rawalpindi and Islamabad.
Gulberg Green is one of the most attractive places to invest due to multiple reasons. It is still developing but already it is among the most expensive housing societies of the twin cities. It is a fantastic area for farmhouses, especially considering the amount of greenery. The project is being improved on a regular basis, with top-notch educational establishments, healthcare facilities, 5-star hotels, and retail malls being built.
Nova City Islamabad
For people who want to invest in real estate but within budget, Nova City Islamabad is one of the best available options.
The society is developed by the Nova City developers, with a mellow yet contemporary infrastructure, indicating that it is ready to provide inhabitants with everything they seek in the best housing society in Pakistan.
About the location, Nova City Islamabad is also close to the CPEC route at Fateh Jang Road, Rawalpindi Ring Road, as well as the New Islamabad International Airport. Once the Ring Road will be completed, it is anticipated that there will be a dedicated entrance for the residents of society at Ring Road, making the city more accessible from Rawalpindi and Islamabad.
It is a good choice for anyone wishing to get considerable advantages on their investments.
Silver City Rawalpindi
Silver City Rawalpindi is a newly developed yet one of the best housing societies in Pakistan.
With breathtaking views of the Margalla Hills, the society provides a calm and pleasant living environment. The master plan's sophisticated and elegant facilities make it the ideal investment option for 2022. The RDA-approved Silver City Rawalpindi is being developed by Laraib Associate & Developers (PVT) Ltd. and the SAREMCO Group. It's near the Thalian Interchange on Girja Road in Rawalpindi. The plots in this housing society are still available at the launching prices.
Final Words
All 5 housing societies mentioned above are completely safe for investments and good returns on this investment are guaranteed.
If you want to know more about these projects, Deal and Deals (Pvt) Ltd. offers free consultations on all the prominent real estate projects of the country.