Real Estate Update, Latest Prices & Market Overview

Naya Nazimabad – Latest Updates, Pricing & Investment Guide

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If you’re looking for the secure housing schemes in Karachi, Naya Nazimabad would one of the best choices for you. The project is located within the city, unlike other housing schemes. With a great location and reasonable prices, this quality project has a lot to offer to its customers.

The project located between Nazimabad, North Nazimabad, and North Karachi, is spread over the vast area of about 1,200 acres. The neighborhood areas also include Federal B Area and New Karachi. Naya Nazimabad is categorized into A, B, C, D, M, and N blocks. The project is a good choice for plots as well as for bungalows.

The construction updates we have so far is that Block A has been completed in terms of development as well as possession. The investment in the block is also saturated at the moment. Talking about block A-2, the phase is still in beginning phase. The phase is currently not much developed, therefore no possession is available for that phase. Apparently, the phase worth nothing in the current state. But surprisingly, it is still priced higher than Blocks C and D.

Observing Block C, the block almost near to complete its development phase, therefore the possession is available there. Block D is also seeing some good development work but still has a long way to go before it’s complete. However, possession is available in block D.

The two newbie blocks are M and N. The development of these blocks are in the initial phase, even the roads are yet to be constructed. Which means there is no significant development in both of these Blocks at the moment.

The latest prices in Naya Nazimabad are as follows:

Plots
Plot Size Prices in PKR
120 sq. yd. 4,000,000—4,500,000
160 sq. yd. 6,000,000—7,000,000
240 sq. yd. 8,500,000—9,500,000
Bungalows
120 sq. yd. (Single Storey) 6,200,000—7,700,000
120 sq. yd. (Double Storey) 8,500,000—10,500,000

 

Despite the fact that Karachi’s market of luxury housing segment suffered in the past few months, Naya Nazimabad has still a lot of attractions for investors. It’s affordable and secure. Moreover, the new Green Line Bus Rapid Transit project is also expected to add value to the project.

Talking specifically about blocks, Block C and D are in a state of offering good returns of investment. Block C is fully developed and surely has a potential to give good returns for your short-term and mid-term investments. Although Block D is less developed, the prices are also relatively lower. Like, if the price of 120 sq. yd in Block C is 3.8 million, the same size plot at Block D will cost your around 3 million. After the completion of development work after a few months, the block is also expected to price somewhere near to that of Block C. So, it has a great potential of giving good returns against your medium-term investment. Therefore, property gurus recommend opting for Block C or D if you’re interested in investing in Naya Nazimabad.

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