National Assembly Approved Development of RERA

National Assembly Approved Development of RERA

National Assembly, on Tuesday, passed a bill called Islamabad Real Estate (Regulation and Development) Bill, 2020. The bill reasoned that the establishment of a Real Estate Regulatory Authority (RERA) is a necessity to regularize the real estate sector as the sector has great potential and proper regulations will result in receiving maximum benefits from it. The regulatory body will be helpful for all the stakeholders; buyers, sellers, builders, developers and tenants. It will ensure that the process of selling and buying properties is smooth, transparent and non-conflicting. Moreover, in case of having a dispute, the body will redress the complainers in the most legalized way. Also, an Appellate Tribunal will be established that will hear appeals made by people against the directives of RERA. The body will ensure transparency and accountability in real estate sector, thus resulting in countering corruption or malfunctioning. It will also help to configure fraudulent realtors and un-registered real estate companies that have been defrauding innocent people and has negatively affected the credibility and reputation of the sector that has great potential to boost up the economy.

https://earthlink.com.pk/how-real-estate-contributes-to-pakistani-economy/

The initiative of making a regulation body shows the government has realized the strength of real estate sector and the scope of benefits towards the economic state of the country. As according to a recent report by the Federal Bord of Revenue (FBR), under the Construction Relief Package and Amnesty Scheme for real estate sector, 127 projects were registered with tax department worthy of Rs 63 billion.

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GOVERNMENT ALLOCATES RS. 33 BILLION FOR AFFORDABLE HOUSING UNITS

GOVERNMENT ALLOCATES RS33 BILLION FOR AFFORDABLE HOUSING UNITS

Owing to the vision of providing affordable housing units to people, State Bank, as an executing partner with the Government of Pakistan and Naya Pakistan Housing and Development Authority (NAPHDA) has announced a mark-up subsidy package for those who are first-time house buyers. Through this facility, they will be able to construct or buy house at a subsidized rate, read a statement by SBP.

The government has allocated Rs33billion as a subsidy for 10 years and has assured continuity of the facility. There are three basic categories for Markup subsidy financing to be utilized by individuals according to their need and affordability structure. All the three categories allow to purchase a house/flat/apartment up to 5 Marla or 125 sq. yards with a maximum covered area of 850 sq. feet.

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EarthLink Making History

EarthLink Making History

From making benchmark to setting the name in the field of development; Earthlink; has made its name worth remembering in a short span of 16 years. Earthlink development has earned remarkable success by providing projects like, The Grand I in the prime area of the twin cities Bahria Town Phase II.

The Grande II situated in Bahria town phase III and The Grande III built in the heart of Bahria Town Phase IV Civic center.

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Apartment Living with The Grande

Apartment Living with The Grande

Pakistan have seen a growing interest for high-rise apartment living over the past two decades. They have become the need of the time due to many reasons. Expensive living and rapid urbanization have led to an increase in the demand of housing as the total population of the country is 207 million people and it will reach to 403 million in 2050, according to a report by UN.

Earthlink Developments LLP, a leading real estate development company, have opted to go with the flow of emerging trends and needs and molded its aesthetics in accordance with modern times. Owing to the need of the hour, the company, over the past decade, have successfully delivered amazingly compatible and commercially viable apartment living projects like Grande I, Grande II, Grande III with dedicated commercial space and have set a benchmark hard to compete. The up-to-scale apartments are situated at prominent locations in Bahria Town.

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The Grande Hotel; A Compelling Investment

The Grande Hotel; A Compelling Investment

Earthlink Developments LLP is successfully running an astonishingly considerable luxury project by the name The Grande Hotel which has galvanized the investment opportunities to a new level of innovation, exuberance and profitability. For more than 16 years, Earthlink have been developing and delivering wonderful projects like The Grande I, The Grande II and The Grande III with a proven success for its investors and now the list have another name included; The Grande Hotel.

The Grande Hotel is located in Bahria Town Phase VIII with a commendable range of Gold and Platinum luxury suits that meet the demands of contemporary times. It also encompasses Shared Commercial Space including Grande Bazaar, Café Laurent, Health Club, Swimming pool and Spa. The services and amenities available make it a truly compatible form and a tough competitor to all the luxury projects in twin cities. Let’s throw some light over The Grande Hotel with the perspective of a compelling investment opportunity in recent times thus making it a perfect package in terms of profitable and income generating unit. The Grande Gold suits have an area of 460 square feet with its distinguishable comfort living. Initially sold at Rs. 5.5 million per unit, The Grande Gold Suit have received 27.27 % appreciation and today its market value is Rs. 7 million. It also provides Rs. 50,000 monthly return to the investor. Hence, an astonishingly profitable investment, making you feel secure and accomplished.

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Impact of Amnesty Scheme on Real Estate Sector

Impact of Amnesty Scheme on Real Estate Sector 

The real estate sector of Pakistan has seen a remarkable interest of investors after the government has announced amnesty scheme with an aim to thrive up the economy. Pakistan has an immense potential for growth through real estate market. Although the conditions for it have never been steady but the recent policing in this sector have caught the glance of many. With the announcement of amnesty scheme and construction sector declared as industry, real estate business has become a game changer. Ergo, the impact is influential as it has paved a way for many who wanted to sync their undeclared money with the governmental accounts. Experts say it has revitalized the industry though the government has designed it to boost up the economy as there are more than 40 industries which are attached with the real estate sector.

To analyze the impact of amnesty scheme let us discuss few of its clauses. The scheme says that withholding tax is removed from all the allied industries excluding cement and steel. Sales tax on services have become zero and now you have to pay fixed tax only, according to the rates decided by the federal and provincial governments. For Example; tax rate for a commercial building in Islamabad is Rs250 Sq/ft whereas that of a residential building up to 3000 square feet will be Rs80 Sq/ft and Rs125 Sq/ft for a residential building that is 3000 square feet or above. This will help to identify and counter corruption in the real estate sector thus generate a positive impact on the business.

If you have purchased a plot or residential building or started a news construction project from April 17 to Dec 31 this year, relief is that, you are out of FBR’s radar of money trail for that investment and tax payment inquiry. But here is a condition, you have to use that piece of land or money wholly in construction projects, the grey structure of which must be completed before Sept 30, 2022. But any kind of activity in the construction industry cannot be conducted on cash payments. Instead, the person has to open up a bank account, deposit the money and do the transactions through crossed cheques.

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EARTHLINK CELEBRATING 16 YEARS OF SUCCESS WITH MAJOR DEVELOPMENTS IN REAL ESTATE

EARTHLINK CELEBRATING 16 YEARS OF SUCCESS WITH MAJOR DEVELOPMENTS IN REAL ESTATE 

 

Earthlink Developments has gained remarkable success in the real estate industry of Pakistan by accomplishing luxurious projects from the past 16 years. Earthlink is constantly working with a cohesive unit of top industry experts and professionals to create world-class, modern, luxurious multi-story real estate projects incorporate top of the line amenities. Over the years, we have garnered the trust of thousands of investors and clients across the nation. With proven excellence in the real estate industry, Earthlink has accomplished an array of high-end real estate projects in best locations equipped with high standard amenities and services.

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Prime Minister Imran Khan Announces Incentives For Construction Sector, A Major Development In Construction Sector

Prime Minister Imran Khan Announces Incentives For Construction Sector, A Major Development In Construction Sector

Prime Minister Imran Khan announced an incentivized package for the construction industry in order to increase employment opportunities in the country in the wake of coronavirus outbreak. He said that the sector plays an important part in the development of a country.

The package has the following incentives:

  • All the people investing in the construction sector this year will not be questioned about their source of income.
  • The tax rate will be fixed for the construction sector, and constructors will be charged tax per square foot or square yard.
  • People carrying out construction in the Naya Pakistan Housing Scheme for the poor will only have to pay 10 per cent of the fixed tax.
  • Withholding tax will be waived off for all construction sectors except the formal sectors of steel and cement.
  • Sales tax will be reduced in coordination with provinces.
  • Any family selling their house will not have to pay any capital gains tax.
  • A subsidy of Rs30 billion to be given for the Naya Pakistan Housing Scheme.
  • Construction sector to be given the status of an industry.
  • Construction Industry Development Board to be set up to support the sector.

The prime minister said that the government aimed to “find a balance” between continuing a lockdown and avoiding unemployment. He said that the Western countries are facing the coronavirus on one hand and economic fallout on the other. But “in Pakistan, we have corona on one hand and poverty on the other,” he told reporters and added: “You cannot lock up 220 million people.”

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How Real Estate Contributes To Pakistani Economy

Real estate is an enabler of economic activity; by offering the space for businesses to operate it effectively provides the business infrastructure without which an advanced economy could not operate. Earthlink developer has contribute to progressive real estate through high-quality, modern and innovative multi- storey buildings which contribute to maintaining the country’s reputation as an international trade hub and attract skills and capital from the rest of the world, creating further opportunities. Moreover, hundreds of luxury apartments developed by Earthlink in The Grande projects is not only providing the high standard lifestyle but also giving opportunity for profitable investment and promising high capital gain. Real estate is a source of employment in all sorts of areas; not only for architects, builders and engineers, but also for legal and financial advisors, surveyors, facilities managers and all those that provide for the construction industry. Earthlink Development has generated an innovative employment model for qualified and skilled people in different fields who have transformed the property market by making the best use of technology and information. Moreover, under the expert leadership of Earthlink Developments management real estate is playing a vital role in the provision of hi- tech and modern infrastructure. Real estate can probably not claim to be the magic wand of economic growth, but it is certainly a lever for growth that could be pulled harder.

Pakistan’s real estate market remains the backbone of its economy, with as many as 250 different industries depending upon it. These industries are mostly connected to the construction of real estate projects and include cement, building, timber, steel, sanitary fittings and a range of other businesses. The sector is also the second largest employer within the country, with the first being agriculture. Furthermore, the industry is worth more than 700 billion dollars. In spite of these facts, real estate contributes only 2% to the national GDP.

The question now arises as to why this is the case? Why is Pakistan’s property market not contributing a larger share to the economy and what can be done to improve that? The biggest problem that hinders the growth of the property market of Pakistan is that the process is so complicated and full of loopholes that any seasoned investor has to think thrice before even considering an investment opportunity that sounds too good to be true. While reliable projects are being built and a lot of foreign investment and attention is being garnered by the country, especially since the announcement of the China-Pak Economic Corridor (CPEC), it is not enough. Earthlink Developments is doing great efforts in revolutionizing the property industry that assure investors that the investment they are making is safe, reliable and well-documented.

Real estate in Pakistan is catering to the urbanization problem by providing ample of residential and commercial projects in urban centers. Land scarcity in the three major cities: Karachi, Lahore, and Islamabad have reached an alarming rate. 2017 faced more than 47 % rural to urban migration in Pakistan hence increasing the residential unit’s demands. Land scarcity has influenced developers to start new projects in gated communities in the outskirts of these cities. According to the latest census, the urban population of Pakistan grows by three percent every year. At this rate by 2030, more than half of the citizens of the country will be living in cities. This makes it one of the most rapidly urbanizing countries in the world and with this, come a lot of implications for the economy as a whole and the real estate market in particular. The rapid urbanization means that the way of living and real estate projects have to be adjusted accordingly to accommodate the influx of people from all over the country into major cities like Rawalpindi, Islamabad, Lahore and Karachi. Greater construction work and initiation of new projects in Zone-2 Islamabad across the Sangjani Toll Plaza towards Peshawar Motorway remained in full swing this year.  With New Islamabad International Airport in close proximity, motorway on one side and the GT road on the other, Zone 2 remained the second most valuable investment zone in the city. Gated communities are the hot trend in the housing market. Experts estimate that between 2016 and 2017 investments in gated housing schemes increased by 25 to 30%. Launch of DHA Phase-3 Islamabad, DHA Bahawalpur and development work started plus balloting of plots took place in DHA Multan and Peshawar had been the most pleasant trends in 2017. Inauguration of World Trade Center at DHA Phase-2 Islamabad has changed the fate of G.T road and paved way for new mega projects market in Zone-V of Islamabad.

Pakistan is now primed for foreign investment in real estate. Work has already begun on the $51.5 billion China-Pakistan Economic Corridor and the benefits will flow to the real estate industry. Pakistani real estate has seen a tremendous increase in property prices since the agreement. It has not only grabbed the attention of investors, but the demand for land has increased significantly. Prices run into the millions in Gwadar, so we can say it has touched the sky. And, soon after the government announcement to construct a deep-sea port, the remote fishing town of Gwadar witnessed a significant boost in prices. The initiative has given rise to international housing schemes in Gwadar, not only for accommodating Chinese officials but for buyers across the board. Sanghar Housing Scheme, Canadian City, Naval Anchorage, Creek City Gwadar and many other real estate projects have received greater number of investment in last 2 years. Furthermore, the infrastructural development and initiatives of new energy projects in many urban and remote areas under the CPEC development has given a new dimension and direction to the real estate industry in Pakistan this year. Mega real estate projects advancements near new Islamabad Airport, northern Punjab and in many areas of Sindh is the evidence of this.

The culture of entrepreneurship and expansion of business is also on rise in major cities of Pakistan because of the CPEC and related projects. Unfortunately, absence of state of the art commercial buildings is a great obstacle in flourishing of economic activity in the country. In order to address the rising need Earthlink Real Estate has developed outstanding and marvelous commercial real estate buildings in perfect locations. Development of high quality business center and modern commercial infrastructure is catering to the growing need of business community and generating good employment opportunities. Investors are also getting greater benefits by getting high return on their investments through commercial real estate projects of The Grande since 2010. The Grande is equipped with all facilities, luxuries and hi tech amenities required for the most excellent corporate and business atmosphere. Grande Business Centre located at the commercial hub of Bahria Enclave, Grande Marina at the most busiest road of Phase-4 Bahria Town Islamabad are top of the line projects aim at catering to the growing need of international and local Pakistanis.

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Why Should You Invest at The Grande?

The Grande; A Symbol of Luxury

The Grande projects are marvelous architecture offering luxurious apartments with exclusive entrance, corporate office spaces and shops to enhance your business and investment endeavors. The projects are well maintained and highly safe and secure with imported fittings and accessories to make life very comfortable. Marvelous Grande buildings are situated at Phase-2, 3, & civic center of Bahria Town Rawalpindi and The Grande Business Center is situated in Sector G of Bahria Enclave Islamabad.

Maximize your Return on Investment 

Return on Investment Formula is;

ROI = (Gain from Investment – Cost of Investment)

To calculate ROI, the benefit (or return) of an investment is divided by the cost of the investment. The result is expressed as a percentage or a ratio. Our clients who invested at The Grande apartment have earned up to 56.4% of ROI within 6 years. A summary of rates appreciation of Grande Phase-2 are given as below;

Studio Apartment (450 Sq.Ft)
Scenario Year Price in PKR
Booking Price 2012 18 Lacks
Rate on Completion 2014 40 Lacks
Current Price 2019 45 Lacks

 

2 Bedroom Apartment (1230 Sq.Ft)
Scenario Year Price in PKR
Booking Rate 2012 55 Lacks
Rate on Completion 2014 85 Lacks
Current Rate 2019 10 Million

 

After the successful delivery of first Grande Project, Earthlink launched its second enormous project of The Grande phase-3 in 2014. The beautifully designed park facing building is developed on 4 Kanal land having 71 apartments and 38 shops. Our valuable clients earned high return on investment; two cases are given below;

 

2 Bedroom Apartment (1700 Sq.Ft)
Booking Price 8500000
Rate on Completion 14450000
Current Price 15300000

 

3 Bedroom Apartment (1960 Sq.Ft)
Booking Price 9800000
Rate on Completion 16660000
Current Price 17640000

 

Best Location Projects

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