Khayyam Shahzad replied on Sunday, June 20, 2010 07:36 PM
Khalid bhai,
Without knowing your investment goals, it is hard to comment on it. I can tell you that there are four houses being constructed now including mine. It is of course just the beginning and more houses will be built soon when the grid station is completed by the end of this month.
As for livable place to live. Different people have different ideas about when a place is livable. Some won't live in a place until 75% homes are completed. Other may be ok with 15-20% homes built. Most new areas I have seen people live when there are about 15-20% homes completed.
No one can question the location and long term prospective of any proper CDA sector. Make no mistake about it D-12 IS a proper CDA sector.
Also many experts agree that Real estate investment should be a along term investment. Only time will tell what D-12 will look like in 2, 5 and 10 years from now. Knowing how many people have waited several decades to build their homes in this area, especially retired government officials, I have complete faith that this will be a very livable place in a short 2 years from now or less. Of course ALLAH know the best; this is just my educated guess.
Lastly, yes the world economy including Pakistan is down. They say 'buy low and sell high'. Based on that statement alone it is good time to invest in the real estate market in general. I am not only talking specifically about Pakistan but generally speaking. You have to do your own due diligence to make sure you make the best investment. You must also consider law and order situation in Pakistan.
Here is my understanding of the current rates of some of the proper Islamabad CDA sectors for one kanal plot:
F10/F11 -> 2 - 2.5 caror
F8 -> 2.5 - 3 + caror
D-12 -> caror
E-7/E-8 too high to even compare!
NOTE, these are my rough idea of the price ranges and may be not completely accurate. Therefore Islamabad experts please correct me if I wrong.
My point is due to D-12 superior geographic location and being a proper CDA sector it may be equally pricey if not more expensive than other comparable CDA sectors in a few years from now. Only time will tell for sure. I feel good about my investment and don't regret it even in the recent downturn. Do note that I bought my plot at a high time when the $/Ruppee exchange rate was 60. Today it is at 85. Despite that I still think it is a good investment for me from long term perspective. The only regret I have is I wish I would have bought now vs two yeas ago as it would have cost me a lost less. |
