If you want to invest in the city of lights, then Scheme 33 is a popular option that often comes to people’s minds. There are a lot of reasons behind why this Scheme 33 stands highly ideal for investment and use. The affordability of the Scheme is also appreciable.
We will be discussing the reasons why this project has a better Return on Investment – ROI among other options for investment.
PROJECT DETAILS – SCHEME 33, KARACHI
Scheme 33 was established 33 years ago and got initiated in 1971. Scheme 33 was a regulated scheme for housing in the year 1971 under the control of BOR Karachi and also the KDA – Karachi Development Authority. The scheme was designed, planned and established with a goal to give better affordable options for the local residents that could not afford big prices of plots. The Karachi Development Authority had the responsibility to plan out and do all the work for development, while on the other side, BOR was responsible for checking out the land, regulations, and zoning.
However, there was a pause in the project for a lot of reasons. Positive developments again initiated on the map on the transferral of the project of City District Government of Karachi in 2004. It was when the project made good progress and it is getting established ever since its initiation. The project gets its name 33 from the number of years since it stalled, which was 33 years ago. The scheme 33 is lying in the vicinity of Gulshan e Iqbal that gets surrounded through multiple important developed and established developments, that includes Gulshan e Jauhar, Malir Cantt., and Gulshan e Maymar.
The project goes across the area of 26,026 acres and sits around the Motorway between Karachi and Hyderabad. It has become a home for about 137 housing schemes, out of these projects, only a few are fully established and have residents living in them, while a lot more schemes are just declared. In addition to that, all residential projects are occupying a central location in the scheme, some of the projects are rendered safe to be invested in as said by the Sindh Building Control Authority. This is because in the past few months, some parties had been casting allegations against the scheme to be not beneficial to the local residents, and the SBCA rejected these allegations on Scheme 33. Although the popularity of this scheme is enough reason to invest in this scheme, we present you with reasons that make this scheme highly amazing to invest in.
IS INVESTING IN SCHEME 33 A GOOD OPTION FOR PEOPLE?
Scheme 33 is an affordable option for investment and it offers a huge variety of options for investment. There is no secret that Scheme 33 has a wide range of pros that gives it an edge over others in the real estate market. It includes area, price, and options available for investment. There are some reasons why you should be considering investing in Scheme 33 as an option n Karachi:
PERSPECTIVE OF TAXATION
In the tables of valuation that the FBR – Federal Board of Revenue issued, the market value of the project is highly affordable. It makes the tax ratio affordable equally for a lot of buyers as well as sellers, this is one of the biggest reasons why the transaction volume of the property has made up after the latest fiscal budget system.
PRICING OF THE SCHEME PLOTS
Scheme 33 is made while considering the affordability for the residents that belong to the salaried class. More than 50 percent of the total population of the city revolves around salary jobs, wages, and commissions. For this reason, it should not be a surprise that the housing scheme is highly popular among the residents of the city of lights.
ISSUES FOR LITIGATION
Back in 2017, the high court of Sindh banned the authorities for constructing portions over residential units in the province. This happened because there was a need to control the illegal expansion of the city that created a haphazard in the equal distribution of utility services and resources. On the contrary, the ban got removed a year later. So, it becomes common to see new buyers that are in demand for a new property that is going to choose affordable houses and plots for themselves. It is a big reason behind the property value of scheme 33 that has gotten skyrocketed in a few years.
SAFE INVESTMENT OPTIONS IN SCHEME 33, KARACHI
SBCA declared six schemes to be safe enough for investment purposes in Scheme 33 in Karachi. As compared to other options for investment and residential purposes in Karachi, prices for different properties in Scheme 33 are recognized to be affordable for a lot of buyers. There is a big variation in the prices among a lot of projects and some might come as highly affordable, while on the other hand, other things are exclusive that depends on the size of the location and area.
The criteria for the selection of a project in Scheme 33 means that a society in which rates for properties can significantly increase in the area with infrastructure and giving of better facilities. Meanwhile, absent litigation problems are another factor that calls for both buyers as well as investors.
If you want to invest in Scheme 33, Karachi, you should know the six projects that are considered safe for investment by SBCA, Sindh. These are as follows:
1. Diamond City CHS, Scheme 33, Karachi
2. Karachi Bar CHS, Scheme 33, Karachi
3. Karachi Rajput CHS, Scheme 33, Karachi
4. KMC United Workers CHS, Scheme 33, Karachi
5. Pir Gul Hasan CHS, Scheme 33, Karachi
6. Pir Ahmed Zaman CHS, Scheme 33, Karachi
PLOT PRICES SCHEME 33, KARACHI
The information provided below gives a good idea on the prices of the plots that are up for sale in Scheme 33 in a range of societies:
Plot Size in Square Yards Price Range in PKR
120 23 lakh – 1.2 crore
200 45 lakh – 1.75 crore
240 55 lakh – 1.71 crore
400 85 lakh – 2.25 crore
600 1.2 crore – 3 crore
1,000 3 crore – 16 crore