Real estate

The News report by Mansoor Ahmad

The real estate market of the country is now dependent on high-end direct consumers and genuine long term investors as speculators have been eliminated from the current real estate market due to almost stagnant property rates.

The real estate players point out that the low and midsized property buyers are not left with consumable surpluses to go for house construction as due high inflation and doubled rates of construction material they cannot dream of planning a house of their own.

Read More »LAHORE: Stagnant real estate market drives away speculators

Official says general public to be involved in future development of capital

The development of stalled sectors of Islamabad will be initiated within three months, Prime Minister’s Task Force on Islamabad Chairman Faisal Sakhi Butt said on Wednesday.

Addressing a reception organised by the traders’ welfare association of Sector F-10 Markaz, he said the task force was playing its role in bringing the people and the Capital Development Authority (CDA) on the same page to resolve their longstanding issues.Read More »Development of stalled sectors of Islamabad to start in three months

LAHORE: The Lahore Development Authority (LDA) has decided to acquire possession of mortgaged plots located in 21 private housing schemes, including Punjab Government Servants Housing Scheme Foundation, Overseas Pakistani Foundation’s Farm Housing Scheme and Ravians Co-operative Housing Scheme.

According to LDA spokesman, the authority had started preliminary proceedings for lands’ acquisition, which are to be sold later through an open auction in order to execute development works in the housing schemes.
Read More »Lapse of development period: LDA to seize plots of 21 housing schemes

Punjab Chief Minister (CM) Shahbaz Sharif said that establishment of Ashiana Housing Scheme (AHS), which contains houses equipped with modern facilities for the poor and common man, was an important step towards transformation of the country into an Islamic welfare state in accordance with the vision of Quaid-e-Azam and Allama Iqbal. He said this while addressing an inaugural balloting ceremony of Ashiana Quaid Extension Project, Read More »LAHORE: CM inaugurates balloting for Ashiana Quaid Extension Project

Defence Housing Authority (DHA) launched DHA City Karachi (DCK) at the project’s site on Super Highway amid a graceful groundbreaking ceremony on Wednesday.

Commander 5 Corps Lt-Gen Muhammad Zaheer-ul-Islam inaugurated the development activities by unveiling the plaque. Speaking on the occasion, he termed the occasion as historic and hailed the services of DHA stating that it was proving itself as a trendsetter in the field of housing and development.Read More »KARACHI: Groundbreaking of DHA City held

Capital Development Authority (CDA) Chairman Engineer Farkhand Iqbal said on Monday that the Authority was committed to the development of Park Enclave within 18 months as the CDA had 100 percent possession of the land on which the Park Enclave Housing Scheme had been envisaged.

He said that each and every penny on account of land acquisition and compensation for the built-up-property had been paid and nothing was pending with the CDA regarding Park Enclave.
Read More »Islamabad Park Enclave project to be ready in 18 months

Prime Minister’s Islamabad Task Force Chairman Faisal Sakhi Butt in a recent meeting directed the Capital Development Authority (CDA) to submit a workable solution and a time frame for the development of Sector I-15 to… Read More »ISLAMABAD: CDA directed to start development in Sector I-15

By Tariq Farid

The mushroom growth of ill-planned and sub-standard housing societies has marred the charm of the historical city of Lahore, as around 90 percent of the new housing schemes are built in violation with the set rules and regulations of development and maintenance.

Daily Times has learnt that of the 231 housing societies across the metropolis that have been approved by the Lahore Development Authority (LDA), over 75 percent are either undeveloped or partially developed. Hence, only 25 percent societies are developed of which most are poorly maintained.Read More »LAHORE: sub-standard housing societies eating up the historical city

The real estate and construction sector strives on sentiments and 2011 was another disastrous year for builders and developers as the nation failed to curb its security issues, experts related to the industry informed.

They also said that concerns such as low gas supply (which compelled the government to stop fresh gas connections to new high-rise buildings), energy crisis, rising cost of input such as cement and iron and the imposition of sales tax under the Sindh Sales Tax on Services Act 2011 impacted the real estate sector adversely.Read More »Pakistan Real estate underperformed in 2011

Development work is underway in sector I-11/1 and I-11/2, while fund worth of Rs 320 has been approved for the development project. The development of the sector was on hang fire for last 20 years due to land dispute between victims of Bokra Saraheen and Capital Development Authority (CDA). Sources said that 850 plots were allotted to CDA employees in the sector in 1989, while 2,300 plots were allotted to the employeesRead More »ISLAMABAD: Development work afoot in sector I-11/1-2