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CategoriesInformative Investment Real Estate

Rawalpindi Cracks Down on Illegal Housing Schemes: Four More Noticed, One Referred for Action

By Beluxe,

The Rawalpindi Development Authority (RDA) continues its fight against illegal housing schemes in the city. Under the leadership of Director General Muhammad Saif Anwar Jappa, the RDA issued notices to four more unapproved schemes:

  • Pak Sar Zameen Town at Chakri Road
  • Century Town Housing Scheme
  • Rawat City Housing Scheme
  • Al-Buraq Enclave Rawat

A Stern Warning:

The RDA has warned the owners and sponsors of these schemes to cease all marketing activities and immediately pursue the necessary approvals. Failure to comply will result in strict legal action, including the filing of First Information Reports (FIRs).

Previous Actions:

This move follows the filing of FIRs against two other illegal schemes: Pak Sar Zameen Town at Chakri Road and Century Town.

Combating Illegal Advertising:

Additionally, the RDA has directed the Director of Metropolitan Planning & Traffic Engineering (MP&TE) to take action against illegal advertisements and marketing for unapproved projects. This includes social media advertising, as exemplified by the case of South City Developers, operating outside of RDA’s jurisdiction but advertising illegally in the Rawalpindi area.

Protecting the Public:

The RDA remains committed to protecting the public from fraudulent and risky investments. They urge citizens to avoid investing in unapproved projects and to verify the status of any housing scheme on the official RDA website: https://rda.gop.pk/.

Ready to embark on your real estate journey?

Visit us at www.Beluxestate.com and let Beluxé be your guide to a world of opportunity, satisfaction, and luxury.

CategoriesInformative Investment Real Estate

Beware of Illegal Housing Schemes in Rawalpindi: RDA Cracks Down on Unregistered Projects

By Beluxe,

The Rawalpindi Development Authority (RDA) is taking a firm stance against illegal housing societies operating within the city. They have recently filed First Information Reports (FIRs) against five unauthorized schemes and are actively taking steps to curb their operations.

Why the Crackdown?

These illegal housing societies pose a significant threat to potential investors and the overall development of Rawalpindi. They operate without obtaining the necessary No Objection Certificates (NOCs), raising concerns about:

  • Lack of proper infrastructure and amenities: Unauthorized societies often lack basic necessities like proper roads, drainage systems, and utilities, jeopardizing the quality of life for residents.
  • Financial risks: Investing in unapproved projects comes with significant financial risks as these societies might not have legal ownership of the land or the resources to complete the promised development.
  • Misleading information: Some society owners and developers resort to false advertising and claims about obtaining NOCs, further misleading potential buyers.

The Names and Action Taken:

The RDA has named the following five unauthorized housing societies:

  • Khan Builders at Mouza Chahan
  • Heaven Dave at Mouza Misriot
  • Al-Imran Homes at Mouza Sihal on Chakri Road
  • Cargo Village at Mouza Katarian near the new Islamabad International Airport
  • Theme Park View at Mouza Sukho on Chontra to Chak Beli Khan Link road Rawalpindi

RDA officials issued notices to these societies before registering FIRs. Additionally, they have initiated legal action against their advertising and marketing activities.

RDA’s Message to the Public and Sponsors:

  • Public: The RDA strongly advises against investing in any housing scheme that does not possess a valid NOC. Before investing, always verify the project’s NOC status with the RDA.
  • Sponsors: Promoting or advertising unauthorized housing schemes is illegal. RDA urges all sponsors to seek proper NOCs before engaging in any marketing activities.

Collaboration for a Safer Real Estate Market:

The RDA has actively sought cooperation from various authorities, including the State Bank of Pakistan, NAB Rawalpindi, FIA Cyber Crime, and media houses, to scrutinize the financial activities and advertising methods of these illegal societies. This collaborative effort aims to comprehensively address the issue and create a safer real estate market for all stakeholders.

By taking these steps, the RDA aims to protect potential investors from falling prey to fraudulent activities and ensure the orderly development of Rawalpindi. Residents and investors are encouraged to remain vigilant and report any suspicious housing schemes to the RDA authorities.

Ready to embark on your real estate journey?

Visit us at www.Beluxestate.com and let Beluxé be your guide to a world of opportunity, satisfaction, and luxury.

CategoriesInvestment Market Trends Real Estate

Park View City Phase 2: Where Luxury Meets Convenience.

By Beluxe,

Islamabad’s skyline is about to be redefined. Embark on a journey to Park View City Phase 2, the epitome of modern living nestled amidst the captivating beauty of Islamabad. This visionary project by the esteemed Vision Group promises to elevate your lifestyle to unparalleled heights.

Unveiling a Legacy of Excellence

The Vision Group, renowned for their groundbreaking ventures, presents Park View City Phase 2. Following the resounding success of Phase 1, this new chapter promises an exquisite blend of luxury and functionality. Their portfolio boasts prestigious projects like The National School and Park View City Lahore, showcasing their unwavering dedication to quality and community development.

Embrace a Life of Unmatched Luxury

Imagine waking up to breathtaking views and stepping into a world meticulously crafted for your comfort. Park View City Phase 2 offers a variety of residential plots, including 5 Marla and 10 Marla options, meticulously designed to cater to your needs. Spacious living areas, impeccably designed interiors, and lush green surroundings will create a haven of tranquility.

Where Convenience Meets Exclusivity

Park View City Phase 2 isn’t just about stunning residences; it’s a complete lifestyle experience. Dedicated commercial areas will provide easy access to a multitude of shops and services, fulfilling your everyday needs. World-class amenities such as:

  • 24/7 Security for complete peace of mind
  • Modern Infrastructure with well-maintained roads and walkways
  • Flourishing Parks and Green Spaces for leisure and relaxation
  • Convenient Shopping Centers offering a variety of retail options
  • Reliable Basic Utilities including electricity, water, and sanitation

Invest in Your Dream Future

Park View City Phase 2 presents an unmissable opportunity to invest in your dream lifestyle. With flexible payment plans and promising returns, this project is a haven for both residents and investors.

Limited plots available at pre-launch prices! Don’t miss out on this chance to be a part of Islamabad’s most coveted address.

For more information and exclusive booking details, contact us today!

Islamabad’s most awaited project is finally here. Live the life you deserve. Live at Park View City Phase 2.

CategoriesInformative Investment Real Estate

Parking Revolution: Islamabad Embraces Digitization for a Smoother Future

By Beluxe,

Islamabad is gearing up for a parking revolution! The Capital Development Authority (CDA) recently approved the digitization of parking facilities across the city, aiming to tackle traffic congestion and boost the local economy.

Why Digitize?

Parking woes are a common thread in many bustling cities, and Islamabad is no exception. Business districts, in particular, often witness chaotic parking situations that contribute to traffic jams and frustration. This initiative directly addresses these challenges by:

  • Improving parking efficiency: Smart and automated systems will streamline parking management, reducing search times and congestion.
  • Enhancing revenue collection: Digitization allows for transparent and efficient fee collection, potentially generating additional revenue for the city.
  • Boosting the local economy: A smoother traffic flow and improved parking experience can positively impact businesses and attract further investment.

The Plan in Motion:

The CDA has partnered with M/S AJCL, who will equip parking lots with cutting-edge technologies. This includes:

  • Automated parking systems: These systems will use sensors and cameras to detect available spaces and guide drivers, minimizing search time and frustration.
  • Smart payment solutions: Drivers will benefit from convenient cashless payment options, simplifying the process and reducing queues.

A Collaborative Approach:

The decision to digitize parking was a collaborative effort. The initial proposal was approved by the CDA Board in October 2023, followed by a transparent bidding process that selected M/S AJCL as the ideal partner.

A Win-Win Situation:

This project promises benefits for all stakeholders:

  • Residents: Expect a smoother driving experience with reduced traffic congestion and easier parking access.
  • Businesses: Improved parking efficiency can lead to increased foot traffic and customer satisfaction.
  • The City: The CDA anticipates increased revenue and enhanced economic growth through efficient parking management.

Islamabad’s commitment to innovation and collaborative approach set the stage for a successful parking digitization project. This initiative holds the potential to transform the city’s traffic landscape and pave the way for a more vibrant and efficient future.

Ready to embark on your real estate journey?

Visit us at www.Beluxestate.com and let Beluxé be your guide to a world of opportunity, satisfaction, and luxury.

CategoriesInformative Investment Real Estate

Islamabad Gets Connected: Road Projects Promise Improved Traffic Flow and Faster Journeys

By Beluxe,

Islamabad is gearing up for a parking revolution! The Capital Development Authority (CDA) recently approved the digitization of parking facilities across the city, aiming to tackle traffic congestion and boost the local economy.

Why Digitize?

Parking woes are a common thread in many bustling cities, and Islamabad is no exception. Business districts, in particular, often witness chaotic parking situations that contribute to traffic jams and frustration. This initiative directly addresses these challenges by:

  • Improving parking efficiency: Smart and automated systems will streamline parking management, reducing search times and congestion.
  • Enhancing revenue collection: Digitization allows for transparent and efficient fee collection, potentially generating additional revenue for the city.
  • Boosting the local economy: A smoother traffic flow and improved parking experience can positively impact businesses and attract further investment.

The Plan in Motion:

The CDA has partnered with M/S AJCL, who will equip parking lots with cutting-edge technologies. This includes:

  • Automated parking systems: These systems will use sensors and cameras to detect available spaces and guide drivers, minimizing search time and frustration.
  • Smart payment solutions: Drivers will benefit from convenient cashless payment options, simplifying the process and reducing queues.

A Collaborative Approach:

The decision to digitize parking was a collaborative effort. The initial proposal was approved by the CDA Board in October 2023, followed by a transparent bidding process that selected M/S AJCL as the ideal partner.

A Win-Win Situation:

This project promises benefits for all stakeholders:

  • Residents: Expect a smoother driving experience with reduced traffic congestion and easier parking access.
  • Businesses: Improved parking efficiency can lead to increased foot traffic and customer satisfaction.
  • The City: The CDA anticipates increased revenue and enhanced economic growth through efficient parking management.

Islamabad’s commitment to innovation and collaborative approach set the stage for a successful parking digitization project. This initiative holds the potential to transform the city’s traffic landscape and pave the way for a more vibrant and efficient future.

Ready to embark on your real estate journey?

Visit us at www.Beluxestate.com and let Beluxé be your guide to a world of opportunity, satisfaction, and luxury.

CategoriesInformative Investment Real Estate

Can Pakistan Unlock a $40 Billion Opportunity by Following the Saudi Model?

By Beluxe,

Pakistan’s real estate sector faces a significant challenge: a housing shortage of 10 million units, with half concentrated in urban areas. This pressing need presents a $40 billion investment opportunity, but attracting foreign capital requires innovative solutions.

Enter the Saudi Arabia model. Shafiq Akbar, CEO of Imarat Group, suggests learning from their approach:

  • Mega projects: Instead of scattered developments, Saudi Arabia focuses on large-scale, planned projects encompassing tourism, heritage, and economic zones. This creates a branded destination with global appeal.
  • Economic engines: These mega projects integrate features like industrial cities, tourist destinations, and educational/healthcare facilities, driving job creation and ultimately, housing demand.

Why can’t Pakistan replicate this success? We boast a larger population (241 million vs. 35 million) and an even higher per capita housing demand. By implementing these strategies, Pakistan could:

  • Attract significant foreign investment: Currently, only $25 billion reaches the real estate sector, with a concerning portion trapped in “illegal” or “infeasible” projects.
  • Unlock the potential of overseas investments: Remittances from overseas Pakistanis were historically channeled into real estate, but shrinking investment dampened this vital economic flow. A more attractive sector could revive this trend.
  • Become a regional economic powerhouse: Akbar believes proper planning and execution could position Pakistan as the fastest growing economy globally.

Challenges remain: Streamlining regulations, improving transparency, and tackling “illegal” projects is crucial to fostering trust and attracting responsible foreign investors.

The path forward is clear: By drawing inspiration from successful models and addressing existing challenges, Pakistan can unlock its real estate potential, boost its economy, and address the critical housing shortage.

Ready to embark on your real estate journey?

Visit us at www.Beluxestate.com and let Beluxé be your guide to a world of opportunity, satisfaction, and luxury.

CategoriesInvestment Real Estate

Beluxé: Your Gateway to a Luxurious Real Estate Journey

By Beluxe,

Islamabad and Rawalpindi are vibrant cities brimming with opportunity. Whether you’re a seasoned investor seeking lucrative ventures or a first-time buyer aiming to build your dream home, navigating the ever-evolving real estate landscape can be daunting.

This is where Beluxé steps in, your trusted partner in the world of luxury real estate.

Market Leaders with Unparalleled Expertise:

Beluxé isn’t just another real estate agency; we are market leaders renowned for our:

  • Extensive data insights: We have analyzed a vast array of properties across Pakistan, giving us an unmatched understanding of market trends and fluctuations.
  • Impeccable asset valuation: Our expertise allows us to provide accurate market values for your property, ensuring you make informed decisions.
  • Forecasting future trends: We don’t just analyze the present; we leverage our knowledge to predict future market movements, empowering you to stay ahead of the curve.
  • Unparalleled market knowledge: Our team of passionate industry experts possesses a deep understanding of Islamabad, Rawalpindi, and the broader Pakistani real estate landscape.

Beyond Expertise: A Commitment to Your Satisfaction:

At Beluxé, we go beyond mere transactions. We are dedicated to providing you with an impeccable service that prioritizes:

  • Extensive research and analysis: We leave no stone unturned, ensuring every decision is backed by data-driven insights.
  • Unwavering client focus: Your satisfaction is our ultimate goal. We listen to your needs, understand your vision, and meticulously tailor our services to meet your unique aspirations.
  • A luxurious experience: We believe the journey toward your dream property should be as rewarding as the destination itself. Expect exceptional service and personalized attention at every step.

Ready to embark on your real estate journey?

Visit us at www.Beluxestate.com and let Beluxé be your guide to a world of opportunity, satisfaction, and luxury.

CategoriesInformative Investment Market Trends Real Estate

Pros & Cons of Open File Trading

By Beluxe,

Open file trading is a method of real estate trading in which the seller of a property hands over the original documents related to the property to the buyer before the full payment is made. In Pakistan, open file trading is a common practice, especially in the sale of plots in housing societies.

Here are some key statistics related to open file trading in Pakistan:

  • According to a report by Jang Group and Zameen.com, open file trading accounted for approximately 75% of all real estate transactions in Pakistan in 2020.
  • The same report found that open file trading was most common in the sale of plots in housing societies, with over 90% of all such transactions using this method.

Pros of open file trading:

  • Faster transactions: Open file trading allows for faster transactions as the buyer can begin the process of transferring the property ownership without having to wait for the full payment to be made.
  • Convenience: Since the buyer has access to the original documents related to the property, they can begin the process of transferring ownership without having to go through the hassle of requesting documents from the seller.
  • Flexibility: Open file trading allows for more flexibility in terms of payment schedules, as the buyer can make partial payments while the transfer of ownership is being processed.

Cons of open file trading:

  • Risk of fraud: There is a risk of fraud in open file trading, as the buyer may not make the full payment after receiving the original documents. This can leave the seller with no recourse to recover their losses.
  • Lack of legal protection: Open file trading is not legally recognized in Pakistan, which means that buyers and sellers do not have the same level of legal protection as they would in a traditional real estate transaction.
  • Lack of transparency: Open file trading can lack transparency, as buyers may not have access to all the information they need to make an informed decision about the property.

In conclusion, open file trading is a common practice in the Pakistani real estate market, especially in the sale of plots in housing societies. While it offers some benefits in terms of convenience and flexibility, it also carries some risks in terms of fraud and lack of legal protection. It is important for both buyers and sellers to carefully consider the pros and cons of open file trading before engaging in this type of real estate transaction. It is also advisable to seek legal guidance to ensure that the transaction is conducted in a safe and secure manner.

CategoriesInvestment Market Trends Real Estate

Why buy a house in Islamabad?

By Beluxe,

Islamabad, the capital city of Pakistan, is known for its beautiful landscapes, modern infrastructure, and high standard of living. It’s a city that is rapidly growing and attracting people from all over Pakistan, as well as from abroad. If you’re considering buying a house in Islamabad, there are several compelling reasons why it’s a wise investment. Let’s explore some of the key reasons and back them up with relevant stats.

Growing Real Estate Market

The real estate market in Islamabad has been consistently growing in recent years, with property prices on the rise. According to Zameen.com, Pakistan’s largest property website, property prices in Islamabad increased by 10.24% in 2021. This indicates that investing in property in Islamabad is a wise decision, as it’s likely to yield a good return on investment in the long term.

High Standard of Living

Islamabad is known for its high standard of living, which makes it an attractive location for people to settle down and buy property. The city has well-developed infrastructure, excellent healthcare facilities, quality education institutions, and a low crime rate, making it a safe and comfortable place to live. According to Numbeo, a website that provides quality of life data, Islamabad ranks as the second-safest city in Pakistan and has a cost of living index lower than Karachi and Lahore.

Investment Opportunities

Apart from the residential sector, there are several investment opportunities in Islamabad that can help you generate a substantial return on investment. According to a report by JLL, a global real estate consultancy firm, the demand for commercial properties in Islamabad is on the rise, which indicates a growing business environment in the city. There are also opportunities to invest in the tourism and hospitality sectors, with the city’s growing popularity as a tourist destination.

Booming Construction Industry

The construction industry in Islamabad is booming, with several new housing societies and commercial projects being developed across the city. According to a report by the National Highway Authority of Pakistan, the construction industry in Islamabad is expected to grow by 8% in 2022. This indicates that there will be an increased demand for property in the city, which makes it a good time to invest in real estate.

Growing Population

The population of Islamabad is rapidly growing, which indicates a higher demand for residential properties. According to the Pakistan Bureau of Statistics, the population of Islamabad is projected to reach 2.5 million by 2025. This means that there will be a growing demand for housing, which makes it a good time to invest in property in the city.

In conclusion, buying a house in Islamabad is a wise investment due to the city’s growing real estate market, high standard of living, investment opportunities, booming construction industry, and growing population. The city offers several benefits to its residents, making it an attractive location to settle down and invest in property. By considering these factors and conducting proper research, you can make a smart investment decision that will yield long-term benefits.

CategoriesInformative Investment Real Estate

Working with a Real Estate Agent.

By Beluxe,

One of the biggest advantages of working with a real estate agent is that they can provide invaluable guidance and support throughout the home buying process. A good agent will help buyers navigate the market, identify properties that meet their needs, negotiate with sellers, and ensure that all necessary paperwork is completed and filed correctly.

In addition, agents often have access to resources and information that buyers may not be able to access on their own. For example, they may have access to off-market listings or be able to provide insights into local market trends and pricing.

While working with an agent can be expensive – typically 3-6% of the purchase price – many buyers feel that the benefits are worth the cost. In particular, first-time buyers or those who are unfamiliar with the local market may find that working with an agent is a valuable investment.

Negotiating a Rebate

An alternative to working with an agent is to negotiate a rebate from the seller. This typically involves making an offer on a property and requesting that the seller offer a rebate or discount in lieu of paying a commission to an agent.

While this can be a way to save money – rebates can be as high as 2-3% of the purchase price – there are several factors to consider before going this route. For one, not all sellers may be willing to offer a rebate, and even if they are, they may be less willing to negotiate on other terms of the sale.

In addition, negotiating a rebate can be complicated and may require buyers to navigate complex legal and financial issues. Buyers who choose to go this route should be prepared to do their own research, conduct their own negotiations, and take full responsibility for ensuring that all necessary paperwork is completed and filed correctly.

Ultimately, the decision between working with an agent and negotiating a rebate will depend on a variety of factors, including the buyer’s level of experience, comfort with the local market, and willingness to navigate complex legal and financial issues. Buyers should carefully consider their options and do their due diligence before making a decision.