Pakistan’s housing market is undergoing a huge upheaval right now. All of this has been spurred by the state’s structural adjustment in the property and construction sectors. These regulations are aimed at accurately recording the property market. It was once common practice to report real estate prices low throughout a transaction to avoid paying taxes. In addition to these changes, the state has enacted a substantial tax relief program for the property market.
Property investment activity has grown across the nation due to the implementation of this program, with an unprecedented increase in the number of property transactions. This change and relief program is also having a favorable impact on the real estate markets of Islamabad and Lahore. The real estate industry in Pakistan is always a robust and lively sector that provides incentives worldwide. The best option for real estate investors and potential residents in Islamabad and Lahore, like in other Pakistan locations, is to develop private housing communities.
Since private organizations were given land opportunities, there has been a pattern of investing in the property market, particularly residential areas. This is because these locations are inexpensive and will accommodate some of the metropolis’ big projects. Lahore Smart City & Blue World City are two of the most notable private housing projects.
Blue World City Islamabad:
The Blue World City is a sophisticated residential society in the Islamabad and Rawalpindi suburbs. The acclaimed Blue Group of Companies is developing the housing community. Mr. Saad Nazir, a well-known Pakistani successful entrepreneur & activist, leads the Blue Group of Companies. The Blue World City lies near the Chakri Junction on the key Lahore-Islamabad Highway. Blue World City Islamabad has a strong favorable position because it is being built near the new airport, also a component of the Rawalpindi Ring Road. Apart from that, the community has a prominent presence on Chakri Road in Rawalpindi. This allows for easy accessibility to Rawalpindi and Islamabad’s urban centers.
Moreover, the Blue World City is one of the region’s few still-affordable residential projects. The price of a five-marla property in the general block of Blue World City starts at PKR 9.90 Lacs! As per the manager of Blue World City Islamabad, they were able to offer plots at this price as they are purchasing an additional 60,000 Kanals of property to supplement the 40,000 Kanals that are already accessible. Besides that, Islamabad and Rawalpindi’s Blue World City is destined to become a worldwide landmark. The community will include a water amusement park and life-size reproductions of world-famous buildings such as Dubai’s Burj Al Arab and Istanbul’s landmark Blue Mosque.
The Blue World City Islamabad is aimed at prospective homeowners who want to establish their residence in Islamabad in a community that is both inexpensive and full of modern conveniences and luxury. The residential society was established in 2018, and since then, a significant infrastructure construction process has been completed. Indeed, according to Blue World City’s builders, the residential society will be constructed and occupied within the next several months.
Lahore Smart City
The Lahore Smart City is also a noteworthy initiative created by the FDHL & Habib Rafiq (Pvt.), dedicated to providing a unique and smart accommodation experience in its own personal and housing zones at Lahore Smart City. A total of 20,000 Kanal of land has now been set aside for the developers’ development to construct this professional residential complex. In and of it, the development’s prime location distinguishes it. It’s near the Lahore junction on the Lahore Bypass.
The estate is conveniently accessible via the Lahore Grand Trunk Road and the Lahore-Sialkot expressway. The site is not cut off from the city, but it does give a tranquil and controlled setting away from the hustle and bustle. This smart residential project is only a few mins away from the city’s business areas. DHA Lahore is among the most well-known organizations, as well as Allama Iqbal Lahore Airport is about 18 minutes away. The main headquarters of the Capital Smart City Lahore residential project is also close by.
In recent years, societies have begun to emerge outside of city limits. On a large scale, CDA and LDA have been expanding communities and accepting such initiatives. Blue World City & Lahore Smart City are two of the most popular societies.
Muhammad Junaid is a senior Analyst and Search Engine Expert. Extensive experience being a lead writer in Sigma Properties. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.