How Overseas Pakistanis Can Invest In the Property of Islamabad
Overview
It is easier than ever for overseas Pakistanis to invest in the property of Islamabad. Overseas Pakistanis often dream of building their house in their home country and Islamabad is their prime choice. This is the reason that huge investments in the real estate sector come from Overseas Pakistanis.
The current government is the advocate of bringing in more remittances from these overseas Pakistanis. Therefore, major developments are seen in the real estate market of Pakistan and especially Islamabad. Islamabad is a dream location as far as metropolitan life is concerned but it also offers scenic views of Margalla Hills.
Overseas Pakistanis are concerned about fraudulent activities. Therefore, the current government is taking action against land crimes and making it safe for investment for anyone including overseas Pakistanis.
Contents
Research Before Investing
Real Estate investment is in millions of rupees, and it is important to cater all the precautionary measures before making any substantial investment. It is very easy to investigate the property in Islamabad because it should be registered with concerned authorities.
Moreover, Islamabad is working towards the digitalization of land records as well. Then, it would be further easy to investigate the property beforehand. It is important to beware of any fraudulent activity and it is better to stay away from any disputed land.
New Housing Schemes in Islamabad
Islamabad is becoming more popular among overseas Pakistanis since new housing projects are developing rapidly. Previously, it was quite expensive to buy land or a house in the CDA Sectors because they were high in demand.
But as the new housing societies are developing, they offer attractive payment plans and even offer overseas block to attract overseas Pakistanis as well. A few of the famous housing societies are as follows:
- Park View City
- Blue World City
- Capital Smart City
- 7 Wonders City
- Silver City
- Taj Residencia
- Multi Gardens B-17
- Overseas Pakistanis Foundation (OPF) Valley Islamabad
Type of Property
It is important to narrow down your preferences because these housing societies are offering residential as well as commercial plots and it is up to the personal preference and budget.
If your budget allows you to invest in a commercial property, one can easily start earning a steady income once the development work is complete. But if the purpose is to build a home, then residential plots are inexpensive and great installment plans are offered as well.
Moreover, with the inclusion of Overseas Blocks in new housing societies in Islamabad, it is even more attractive to invest in these dedicated sectors to avoid any kind of fraud.
Roshan Digital Account
Roshan Digital Account is an initiative of the current government to encourage overseas Pakistanis. Overseas Pakistanis can easily open their accounts in major banks of Pakistan, and they can utilize their money in these accounts for investment purposes.
Moreover, this account can be opened in Islamic or Conventional banking depending on the individual preference.
Financial Planning
It is a tough decision to invest in the Federal Capital of Pakistan since the pricing may not be attractive to all the overseas Pakistanis. Although the new housing societies are offering attractive rates, it is still important to consider the budget and plan accordingly.
Investing in Islamabad is a once-in-a-lifetime opportunity. It is important to consider the exchange rate before investing as well. It is better to plan ahead of time to ensure that the currency exchange rate is not a huge determinant in the investment because of its fluctuations in the market.
Basic Requirements for Overseas Pakistanis
Real estate is becoming more secure because transactions are taking place through banks and other financial institutions. Therefore, it is important to understand the basic requirements for purchasing land in Pakistan if you are a non-Resident Pakistani. These are the following requirements for all overseas Pakistanis:
- NICOP
- Passport Copy
- Copy of Pakistan Departure Stamp
- Copy of foreign country of stay Stamp
- Passport Size Pictures
- Details of family members
These are basic requirements for almost every real estate investment and the rest of the requirements will vary depending on the housing project and type of property.
Conclusion
The current government has given initiatives like Roshan Digital Account, and these can be wisely used to enjoy tax benefits and other investments. It is a prime time in the history of Pakistan to invest in the real estate market of Islamabad.
The reason is the newly developed housing projects are not only developing rapidly but they are also getting approval from concerned authorities. The development is also top-notch and at par with international standards.
All the above-mentioned information will help any overseas Pakistanis to easily invest in Islamabad’s real estate sector. Contact us if you are an overseas Pakistani and looking for investment in property of Islamabad.
