Karachi is the largest metropolis of Pakistan, and as its economic hub, the city has seen a rise in the demand for affordable real estate. While the city is expanding vertically, with a changing skyline being dotted by skyscrapers, the city is also spreading horizontally, utilising the land on its outskirts. As such, the new developments on the outskirts have made it quite possible to buy 215-265 square yards plots in Karachi under a price range of PKR 6 million (60 lakh).
TOP AREAS WITH 215-265 SQUARE YARDS PLOTS FOR SALE IN KARACHI UNDER PKR 60 LAKH
In this post, we’ll be focusing entirely on 215-265 square yards plots in Karachi which can be purchased under PKR 60 lakh. The data we’ve collected over the first six months of 2020 from Rehaish.pk has revealed soon.
As shown in the table above, Hawks Bay Scheme 42, ASF Housing Scheme, and Karachi Motorway are the top three areas where you can find 215-265 square yards plots for sale in Karachi. This data also supports the view that societies and housing schemes on the outskirts of Karachi are cheaper and more feasible for an investment in a residential plot. After these top areas, we have Scheme 45, North Karachi, Karachi Golf City, Northern Bypass, Super Highway, PIDC, and Kemari Town.
Now, let’s brief you on the potential of the top three areas in Karachi where you can make a potentially lucrative real estate investment under PKR 60 lakh.
HAWKS BAY SCHEME 42
A project of Lyari Development Authority (LDA), Hawks Bay Scheme 42 is a residential community planned near the famous Hawks Bay Beach, which is a go-to picnic point for Karachites in the summer weather. As of Aug 2019, it is also the most famous area to make an investment in a residential plot under a budget of PKR 60 lakh.
A 215-265 square yards plot in Hawks Bay Scheme 42 can cost you PKR 13.61 lakh on average, with Sectors 17, 18, 23, and 26 being the most popular. The price for a plot of this size ranges from PKR 6.5 lakh to 9.5 lakh in different sectors/blocks.
Located between Hawks Bay and French Beach with Mauripur Road connecting the area to the Lyari Expressway, the society offers a range of residential plots as well as commercial investment opportunities across 71 sectors/blocks. While the LDA has allotted many of the plots, there are still plenty up for grabs if you want to make a real estate investment under PKR 60 lakh in Hawks Bay Scheme 42.
ASF HOUSING SCHEME
ASF (Airports Security Force) Housing Scheme is another popular option where you can invest in 215-265 square yards plots in Karachi. The project is under the management of the ASF Foundation (ASFF), which is a welfare organisation. ASFF is launching a number of real estate projects as part of their first commercial venture.
The average price of a 215-265 square yards plot in ASF Housing Scheme is PKR 22.31 lakh, with ASF City being the most popular development, in spite of being a fairly new project. Prices of 215-265 square yards plots in ASF City are as low as PKR 17 lakh.
ASF Housing Scheme ensures that its projects are ideally located and benefit from the best of amenities and facilities, including parks, schools, malls, hospitals, power backup systems, community centres, as well as secured and gated surroundings where residents can live with complete peace of mind.
The third area where you can easily secure 215-265 square yards plots for sale in Karachi under a budget of PKR 60 lakh is the land surrounding the Karachi Motorway, where several new housing schemes are being developed.
The average investment in a residential plot of 215-265 square yards near Karachi Motorway can be PKR 17.53 lakh. Coinciding with the most popular development of ASF Housing Scheme above, the most popular housing community on the Karachi Motorway is ASF City, where a budget of PKR 17 lakh is more than sufficient to purchase a 215-265 square yards plot.
The Karachi-Hyderabad Motorway, also known as the M-9, is part of the Super Highway, which is being extended to Lahore. Thus, real estate investments in the area hold good potential once the Motorway is complete, and travelling from one part of the country to another becomes even easier.
After these top three areas, we have many more in our collected data, but it is important to note that all of these developments are located on the outskirts of town, reinforcing the idea that if you want to own land in Karachi at affordable rates, you should consider moving to the newly developed suburbs of the metropolis.
Following our top three areas hot on their trails, we have the rapidly developing Scheme 45, where the average price of a 215-265 square yards plot for sale is PKR 24.35 lakh. Karachi Golf City is another ambitious project that is in its first phase of development with Palm Dreams offering a range of amenities and facilities to investors and residents. Investment in a residential plot here can cost you PKR 24.67 lakh on average. Buying 215-265 square yards plots in Karachi under PKR 60 lakh is also a possibility in the older parts of town such as PIDC, where average plot prices are around PKR 36 lakh.