Overseas Pakistanis either working or living abroad, always look to build an investment portfolio to fund their lifestyle after retirement in their homeland. Making safe investments can be challenging, yet real estate is an ideal and highly preferred option nowadays due to the ongoing governmental incentives. Though choosing a good real estate project needs cautions and accuracy, but Bahria Town Karachi is widely regarded as the safest and highly profitable venue for investment.
Real estate always remains an ideal sector that offers high returns on investment both in the short and long run. Besides, various benefits in the Construction Package 2020 and recent incentivized developments in Bahria Town Karachi have added more gravity to the mega housing scheme for Pakistani expatriates. Let’s examine these benefits;
Taxation Relief
The Construction Package 2020 announced by the government in the wake of an ongoing pandemic is tempting, especially for Overseas buyers. A tax amnesty scheme for the real estate sector has been announced under it, which allows people to invest their money in the construction industry without disclosing the source of income. Then one-time exemption of tax on capital gain has also been offered on the sale of personal accommodation of size up to 500-yard house or 4000 sqft apartment. These incentives are available till 31 December 2020 but the date is now likely to be extended.
Bank Loan on Subsidized Rate
Under the Construction Package 2020, the government is also providing subsidies on the construction of houses to the homeowners. As on the construction of the first 100,000 houses a subsidy of Rs. 300,000 will be given to each homeowner who constructs his house. Furthermore, those people who borrow from banks to construct their homes will be given a subsidized interest rate. The interest rate for a 125-yard house will be 5% and for a 250-yard house, it will be 7% for housing finance.
Roshan Digital Account
The Roshan Digital Accounts has also been introduced which facilitates the Overseas Pakistanis to easily invest in residential and commercial real estate projects through legal channels. The minimum period to invest in real estate is 3 years, set by the State Bank.
Depreciation of Pak Rupees
Pakistani ex-pats living in countries like UK, USA, Dubai, etc. earn in the currencies of respective countries that are comparatively trading strongly against the Pakistani rupee. So, they have an edge over natives to invest more in the local housing and real estate due to the gap between the currency values
Lowering of Interest Rate
As per the official statement recently released by the State Bank of Pakistan, the interest rate has been comparatively reduced. Lower interest rates force people to withdraw their savings from banks and invest in some other sectors. Obviously, the real estate sector here an edge over the rest.
Special Overseas Block in Bahria Town Karachi
Overseas Pakistanis are a mega asset of the country. Over 8 million Pakistani ex-pats live and work abroad and send back around $ 40 billion a year to the national exchequer. Almost every real estate developer in Pakistan realizes the demand overseas for better designed and more efficient products. Therefore developers offer special zones, blocks, or precincts for overseas in their projects.
Bahria Town Karachi has an advantage over other developers which offers specially dedicated Overseas Blocks not only in Precinct 1 and Precinct 6 but also in Bahria Golf City and even in the recently announced Bahria Green Karachi.
Liberty Park’ Residencia; Ideal Investment Opportunity
Among the residential cum commercial projects in Bahria Town Karachi, Liberty Park’ Residencia has a valuable significance. As all residencies in these projects have been designed keeping in view the needs and eminence of overseas Pakistanis. It’s a project of Homeland Enterprises and offers 2-Bed luxury apartments in three categories, along with a diverse range of shops and offices in Ground, Basement, and Mezzanine respectively.
So why do wait till December 31, 2020, contact Homeland Enterprises now for booking and further details?
