In recent times, Pakistan’s real estate market has seen a slew of new top real estate projects. If you do some exploration, you will discover that practically every major city in Pakistan is witnessing tremendous property development. Regardless of its size, every new property development comes with its real estate investment potential for both local and international investors. So, if you’re looking to invest in new property development in any of Pakistan’s main cities, you should understand the distinction between a plot & a plot file. To make things easier for you, we’ll go over some of the most critical aspects of plot files and how to purchase property files for top real estate projects.
What is a Property File?
It is a real estate phrase that refers to a written promise to a property investor of a piece of land with a specific area size in a proposed or present housing society or scheme. It doesn’t have a physical presence and isn’t recognised or approved by the local planning authorities. After going through the balloting step of the relevant housing scheme or real estate plan, plot files are allocated a particular figure and turned into actual legitimate plots.
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Should you buy a Property file?
Plot files are affordable than plots and have fewer formalities required in the ownership procedure. Take Bahria Town Karachi, for example, where we can purchase a one Kanal plot for as little as 6 lakh. A 1 Kanal land, on the other hand, is available for as little as 28 lakh. The investment element is a significant distinction between a plot and a property file, and it may influence your selection when purchasing real estate. Though plot files are less expensive, their sale and acquisition are rarely regulated by the development authority.
What is Balloting:
Balloting is a property investment phrase for the process of giving plot numbers to potential buyers in a particular top real estate project. In projected property development, balloting is generally a draw between the petitioners for plots and property files. There are two kinds of balloting: one is recognised as a booking ballot, in which candidates who are going to book properties on an instalment basis participate, and the other is recognised as a plot ballot, in which purchasers who are ready to pay the entire portion to own a property participate, and a map with physical allocations is issued as an outcome of the balloting.
How to Buy Property Files?
There are numerous ongoing property projects in Pakistan, with Gwadar Golf City, Top City-1 Islamabad, DHA Gujranwala, and DHA Multan being among the most notable. These projects provide plots as well as plot files. Because the majority of these property projects are still in the planning stages, they currently have more plot file alternatives than actual plots.
- Gwadar Golf City:
The builders of Gwadar Golf City are striving for a perfect hideaway for golfing enthusiasts. Gwadar Golf City’s concept contains everything required for a lavish lifestyle and commercial complexes assuring that the project will become a focus of economic and corporate activity in the future. This property investment project, which features a perfect blend of commercial & residential plots, is situated in an excellent location in Gwadar, enjoying the tranquil Arabian Sea shores. Property files for the top real estate project in Gwadar can be purchased for as little as 2.5 lac to 13 lacs on various property portals like Zameen.com.
- Multan DHA:
DHA, Multan, is a much required, modern extension to the residential properties in the city of saints, with a territory of 9,000 acres. This housing concept aims to provide inhabitants of DHA Lahore, DHA Islamabad, DHA Karachi, as well as other DHA-backed developments in Pakistan with the same high level of life. The top real estate project will launch a real estate portfolio that is affordable to buyers with low, medium, and high incomes. The community was thoughtfully planned, with special care paid to safety concerns. Defence Housing Authority, Multan, is known for its cutting-edge development, safety, and easy access to world-class amenities. Due to the fact that the project is still in the early stages of development, DHA Multan properties files range in price from very low to very high. The prices range from Rs. 65000 to Rs. 1.25 crore.
- Top City 1:
It is a precisely designed housing project with a quick rate of development in different places. It offers a magnificent view of green hills. The Rawalpindi Development Authority, widely known as RDA, has given its approval to TopCity-1. The vast top real estate project spans 9081 Kanals and features urban infrastructure that merges in perfectly with the breathtaking natural beauty that surrounds it. While TopCity-1’s urban infrastructure is impressive, the dedicated green areas and meticulous eye to detail render it one of Pakistan’s most environmentally friendly yet stylish and ultra-modern living locations. TopCity-1’s master plan centres on a stunning circular arrangement, with wonderfully constructed mansions, villas, and elegant flats neatly arranged around it. Because the project is still in the early stages of development, Top City 1 is also issuing property files. According to several property portals, these files are available for purchase for as little as 13000 Rs and as much as 46.5 Lacs.
We’ve emphasised the necessary variables above and the average expenses of plot files to help you understand what property files are and how we can get them. Because real estate has grown so much in the last few years, it is relatively easy to get a good find on a house in Pakistan with a bit of research. The expansion of the market and well-organised initiatives have made it easier to discover the most significant investment prospects. If you’re planning to invest in new real estate development, you should be aware of the differences between plot and plot files.
Muhammad Junaid is a senior Analyst and Search Engine Expert. Extensive experience being a lead writer in Sigma Properties |Capital Smar City Islamabad. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.