The real estate rates in the capital city of Pakistan have been stagnant for a long period of time. This was primarily due to the lack of focus on mega-infrastructural projects in Rawalpindi and Islamabad. With the Rawalpindi Ring Road approval, the real estate industry has taken a sigh of relief. PM Imran Khan has recently inaugurated this long due project, and it is about to provide impetus to real estate growth and investment in the twin cities.
Planned by the previous governments, the Rawalpindi Ring Road project is now being considered as a breakthrough for Rawalpindi and Islamabad. This project is planned to start from the Thalian interchange on Chakri Road, and it is aimed to integrate all the surrounding regions. After the Rawalpindi Ring Road approval, the real estate value is about to increase, especially in nearby housing schemes such as Capital Smart City and Blue World City. Once it is completed, these real estate housing schemes near ring road are likely to attract more investments and increase in their overall worth.
This article will provide you with an insight into the benefits of Rawalpindi Ring Road approval for the real estate value in Islamabad and Rawalpindi
Rawalpindi Ring Road Introduction
The Ring Road project in Rawalpindi was introduced by Shahbaz Sharif. This means that the initial Rawalpindi Ring Road approval was given by the previous Punjab government of PMLN. An overall budget of PKR 21 Billion was approved to initiate the construction, and a recent survey has suggested that the overall cost would be almost PKR 50 Billion.
The overall timespan was estimated to be 2 years, and this was considered to be gamechanger for the people of Rawalpindi and Islamabad. However, the project was marred with multiple controversies and it faced delays. In the recent PTI tenure, this project has been approved and it will be completed in the upcoming 2-3 years.
This project is set to connect Adyala Road and Rawat to Chakri Road and provide impetus to real estate growth. Previously, routes such as Expressway and GT road used to bear the brunt of traffic going into the real estate housing societies in Islamabad such as Bahria Town, DHA Islamabad, and PWD etc. With the introduction of this new project, the traffic issues are expected to be resolved.
Rawalpindi Ring Road Approval and Rise of Pakistani Real Estate Value
PM Imran Khan has recently introduced a number of policies related to the real estate sector in the country. The overall objective is to develop an investment-friendly environment for local as well as overseas Pakistanis. Once the Pakistani real estate industry becomes more mature, the rate of buying and selling of real estate properties in Pakistan is likely to increase. Therefore, the Rawalpindi Ring Road approval is a welcome opportunity for investors,
The new real estate policies by Imran Khan include incentives for real estate investments, tax cuts on buying and selling properties, a Naya Pakistan Housing Project, and a proper Real Estate Investment Trust Scheme (REIT). According to these new updates, the government has decided to remove all taxes from the profits earned from the immovable properties in the country. This means that the real estate industry of Pakistan is likely to witness a massive surge in value and worth in the upcoming few months.
Investments in Blue World City Islamabad
After hearing the news of Rawalpindi Ring Road’s approval, the nearby housing society named as Blue World City Islamabad has witnessed a massive surge in investments. This is primarily because the Blue World City plots for sale are recently available at extremely affordable rates. After the completion of Rawalpindi Ring Road, the same plots in Blue World City Islamabad are going to be sold at double the rates.
Therefore, investors have decided to pour in their investments in Blue World City location in order to earn maximum profits. This is something that has been acknowledged by all government officials as well, and meeting is in process for the Blue World City NOC approval as well. After a few months, construction work is about to be initiated on the Naya Pakistan Housing Project in Blue World Housing society as well. The CEO Saad Nazir has promised the government to provide them with land for 50,000 apartments and construction of 5000 homes under the NYPH project.
This has all turned into a reality because of the Rawalpindi Ring Road approval. The PTI government knows that the mega-infrastructure projects on Chakri Road are increasing the value of surrounding regions. Therefore, a society such as Blue World City would be a perfect option for the government to fulfill its promise of providing low-income citizens of Pakistan with luxury housing facilities.
Ring Road Benefits for Capital Smart City Islamabad
Right next to Blue World City Chakri Road lies a new and improved version of Bahria Town and DHA Islamabad. This new project is known as Capital Smart City Islamabad and is considered to be a brilliant investment destination in recent times. The Rawalpindi Ring Road approval has greatly benefitted this new housing society, and the plots for sale in Capital Smart City are trending in the marketing.
In the past few months, this housing society has witnessed a massive surge in its overall value. The investors would have purchased Capital Smart City plots sale, they are now in a position to sell them at double the rates. The overall prices and payment plans have changed numerous times in the past few years, and the price index promises massive returns on investment. This is the primary reason behind Capital Smart City’s success in the market. However, the Rawalpindi Ring Road Approval has a lot to do with this success as well.
Once this project is completed, Capital Smart City Islamabad would be connected with all important sections of Rawalpindi. Some investors are even expecting a Capital Smart City and DHA merger in the future as well. If trends grew at a similar pace, the overall rates of plots in Capital Smart City Islamabad are going to increase. Therefore, we recommend our clients to invest in this project for the maximum profits and returns. A large number of investors have already invested, and many are earning profits on their investments.
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