Rawalpindi Real Estate Market 2024
Rawalpindi real estate market in 2024 will face instability in the first 3 quarters of the year. The current external environment includes political instability, economic conditions, inflation rates, exchange rates, currency exchange rates, etc. affect the real estate market. There was a 15% to 20% price decrease in developed real estate and a 50% decrease in file prices. However, developed residential and commercial real estate prices are stable. People have no savings to invest in real estate.
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| Rawalpindi real estate market in 2024 |
Uncertainty in the county in terms of politics and economics stopped international investors from investing in the Rawalpindi real estate market in 2024.
Rawalpindi's real estate market is divided into developing and developed real estate. Both types of real estate are in crisis because of the economic situation of the country and the lack of developers' interest in developing real estate and housing societies
.Rawalpindi's real estate market in 2024 requires foreign investment and development in housing societies to attract real estate clients and investors.
Rawalpindi Ring Road development will a positive factor in the Rawalpindi real estate market in 2024.
Rawalpindi real estate market worth is 100 billion PRK.
Introduction of Rawalpindi City
Rawalpindi city is located in North West of Punjab province. It is situated close to the capital city of Islamabad Pakistan. Rawalpindi city is a developed city and plays a vital role economically. Rawalpindi is the 4th highly populated city in the country and 3rd the biggest in Punjab. Rawalpindi city is a commercial hub of economics. The city is progressing in all the fields of business and services. Rawalpindi city history is 150 years old.
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| Rawalpindi real estate market in 2024 |
Rawalpindi City offers services in the shape of educational institutions, medical facilities, financial institutions, real estate, and retail.
According to Rawalpindi city weather report, there are four different seasons in Rawalpindi city is one of the best cities in terms of weather.
Location and Geography:Rawalpindi is located in the northern part of Pakistan. Rawalpindi City is a hub of the Pothohar plateau. District Rawalpindi has 8 sub-districts. Rawalpindi shares its borders with Islamabad to the north and west, Attock and Fateh Jang to the northwest, Jhelum to the northwest, and Gujar Khan and Wah Cantonment to the southeast.
Economic and Commercial Hub:
Rawalpindi city is the 4th economic and commercial hub in Punjab, as it has a major economic center, hosting various industries, commercial enterprises, and markets. Rawalpindi has the best transportation route on motorways, Grand Trunk Road, and Ring Road. It connects Punjab to KPK and Azad Jammu Kashmir. It is a hub for trade, transportation, and manufacturing activities.
Military Presence:
Rawalpindi has a military history since British rule. All Pakistan military operations and strategic planning plans in Rawalpindi. Pakistan military home and general headquarters (GHQ) of the Pakistan Army is in Pakistan. The presence of the army in Rawalpindi makes the city peaceful and secure.
Cultural and Educational Institutions:
Rawalpindi is an old traditional city. The modern city is the hub of cultural and educational institutions. In Rawalpindi, there are many cultural and educational research institutions. It includes the Rawalpindi Arts Council, Arid Research Institute, National College of Arts campus (NCA), museums, theaters, and universities.
Rawalpindi has a diverse cultural heritage, with influences from various historical periods and civilizations. It includes the gandra art civilization. In the past, Rawalpindi owned equally Sikh, Hindu, and Muslim for a long time before partition.
Transportation:
Rawalpindi district and city is well-connected through a network of GT roads, and national highways, Rawalpindi ring road, and it serves as a major transportation hub. Moreover, Rawalpindi is connected to Islamabad through several bridges and roads, facilitating easy movement between the twin cities.
Rawalpindi real estate market in 2024
Ring Road Rawalpindi Development 2024 Video Updates
Development and Urbanization:
Modern Rawalpindi development and urbanization play a significant role in the country's economy and employment. There are many real estate societies and the construction of modern infrastructure, residential areas, and commercial centers are game changers. There are many offices in real estate societies operating from Rawalpindi city. It includes
- Rawalpindi bahria town
- Rawalpindi Bahria Town Phase 8
- Rawalpindi Bahria Town Phase 7
- New metro city Rawalpindi office
- City bakers Rawalpindi
- Blue World City Rawalpindi office
- City villas Rawalpindi
- Snober city Rawalpindi
- Silver city Rawalpindi
- Abdullah city Rawalpindi
- Blue World City Rawalpindi office address
- Silver City Rawalpindi location map
- Silver City Rawalpindi map
- Capital smart city Rawalpindi map
- Saffron City Rawalpindi location
- Silver city Rawalpindi
- Capital smart city Rawalpindi office
Author’s Word about Rawalpindi City
Rawalpindi is an old historical and traditional city. It has a beautiful strategic location and a road infrastructure network. Rawalpindi, with its historical significance, economic vitality, and cultural diversity, continues to play a crucial role in the social and economic fabric of Pakistan. Moreover, its association with Islamabad increases its importance for business communities, and tourists.
Rawalpindi Sub District
Rawalpindi district is divided into 5 sub-districts and it’s also known as tehsils or sub-divisions. One of the sub-districts within Rawalpindi District is the Rawalpindi Tehsil. The purpose is to divide Rawalpindi district into sub-divisions to perform things administratively.
- • Kotli Sattian.
- • Kahuta.
- • Kallar Syedan.
- • Gujar Khan.
- • Taxila.
Rawalpindi Real Estate Market
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| Rawalpindi Real Estate Market 2024 |
Rawalpindi real estate market is the 3rd biggest real estate market in terms of size and worth in Pakistan. The real estate market is divided into residential real estate, commercial real estate, farmhouses, raw vacant land, agriculture real estate, and industrial real estate.
Rawalpindi real estate market creates thousands of real estate jobs in Rawalpindi. In Rawalpindi city 80% of people related to real estate jobs
Rawalpindi real estate market worth is 100 billion PRK.
Rawalpindi real estate market includes plots, farmhouses, apartments, warehouses, etc.
Rawalpindi real estate market is divided into residential real estate, commercial real estate, agriculture real estate, and industrial real estate.
Rawalpindi Residential Real Estate Market 2024
The term “Residential Real Estate “ is used for real estate where real estate clients buy or sell residential properties. Residential real estate is specifically used for personal use. It includes residential plots, flats, villas, condos, and houses. The residential real estate market is usually cheaper in property prices than other types of properties.
In residential real estate, most people invest in future home construction.
Rawalpindi residential real estate market is divided into three types of real estate. Types of real estate are categorized in terms of development and price valuation.
Rawalpindi Non - Develop Residential Real Estate Market 2024
Non–developed real estate is the term used for real estate where land is non-developed. Housing societies usually buy this kind of land and develop infrastructure. Individuals can buy non-developed land as well. Non-developed land is cheap. The reason for cheap prices is the nature of the land. Housing societies buy such land and develop it according to its plan.
Non-developed residential real estate is a good investment for the long term. Usually, it takes 8 to 10 years maximum to complete the process of development.
The best way to invest in non-develop real estate is to construct your future house. To buy a non-develop residential real estate, Make sure you check or demand for no obligation certificate (NOC).
Examples of Non - Develop Residential Real Estate In Rawalpindi
- Rudn Enclave
- Bahria Town Rawalpindi Orchard
- Bahria Town Phase 8 Extension
- Kingdom Valley
- Blue World City
Rawalpindi Developing Residential Real Estate Market 2024
Developing residential real estate is a term used for real estate where other services are available in limited numbers. Moreover, A type of residential real estate where the development process is in the beginning. Developing real estate is also cheap. In many areas of Rawalpindi, housing societies or private owners offer properties in down payments and installment modes.
In developing residential real estate services such as schools, colleges, banks, and retail markets are not available in the initial stages of the development. This is the main reason of cheap prices.
Developing residential real estate is good for short-term investments of 1 to 3 years. If you are looking to build your future house. Developing residential real estate is a good option.
Examples of Developing Residential Real Estate In Rawalpindi
- Bahria Town Rawalpindi Phase 8
- Defense Housing Authority (DHA – Phase 3)
- Capital Smart City
- Taj Residencia Rawalpindi
Rawalpindi Developed Residential Real Estate Market 2024
The term developed residential real estate market is used for real estate where the public has all kinds of services for general usage. It includes educational institutions, mosques, banks, hospitals, playgrounds, and retail markets, etc.
The developed real estate market is usually expensive in terms of prices. Usually, it’s hard to find plots to construct houses. This is a reason for the high prices of plots, villas, condos, apartments, and houses.
There are very high rates of taxes in such kind of real estate market. However, services are available 24/7.
This kind of real estate is good for investment in houses. Because with time price will increase and good rental income possibility.
Examples of Developed Residential Real Estate in Rawalpindi
- Taxila City
- Murree Mall Road
- Gujar Khan City
- Bahria town Rawalpindi
- Rawalpindi Cant area
- Rawalpindi Shceme -3
- Saddar Rawalpindi
- Satellite Town
- Murree Road
- Sadiaqbad
- Tench Bhatta
- Raja Bazar
- Commercial Market
- Gulraiz Housing Scheme
- PDW Housing Scheme
- Media Town
- Askari
- Westridge
Rawalpindi Commercial Real Estate Market 2024
Rawalpindi commercial real estate is a highly populated real estate market. It is the fourth big commercial real estate market in Pakistan. Rawalpindi commercial real estate market is divided into four zones known as The EAST, WEST, South, and North zones.
The oldest commercial real estate market includes Bakra Mandi, Tanch Bhatta, Saddar, Mall Road, Pir Wahdai, Faizabad, Raja Bazar, Murree Road, Commercial Market, 6th Road, Khyban e Sirsayed, Rehmanabad, and Sadiqabad known as old commercial real estate market and areas.
The new development of commercial real estate is in DHA Rawalpindi, Bahria town Rawalpindi, Bahria town Rawalpindi phase 7, Bahria town Rawalpindi phase 8, scheme 3.
The market value of commercial real estate is different in terms of prices. According to FBR 2022, the Valuation of the commercial real estate market in developed areas is divided into on-road and off-road properties.
Price per Marla on-road commercial properties starts from 60 lac per Marla
Price per Marla off-road commercial properties starts from 35 lac per Marla
Rawalpindi Non - Develop Commercial Real Estate Market 2024
Rawalpindi non - develop commercial real estate you can find in rural areas of the district or other sub-districts. Non-developed real estate market takes time in the process of development. Technically, non-developed real estate takes 15 to 20 years to complete the process of development. It takes time because commercial areas only operate when residential areas complete the process of development.
In many parts of Rawalpindi district you can find non-develop commercial real estate. Non-develop commercial real estate prices start from 5 lac to 15 lac per Marla. It depends on location and development timetable.
Rawalpindi Developing Commercial Real Estate Market 2024
Rawalpindi developing commercial real estate is a real estate where you can find commercial properties in the developing stage. Developing commercial real estate land is in the development process. It takes 10 to 15 years to be operational.
In developing commercial real estate, the price of commercial properties per Marla starts from 20 lac to 40 lac per Marla. Most housing societies offer plots or properties in installments.
Examples of developing commercial real estate in Rawalpindi are:
- Bahria town Rawalpindi
- Bahria town Rawalpindi phase 7
- Bahria town Rawalpindi phase 8
- Smart City
- Capital Development Housing Authority Rawalpindi
Rawalpindi Developed Commercial Real Estate Market 2024
The term developed commercial real estate we use for real estate that is completely developed and operational. Commercial areas around congested residential populations are also known as developed commercial real estate.
Commercial developed real estate in Rawalpindi has a big size and covers a distance.
The oldest commercial real estate market includes bakra mandi, tench Bhata, Saddar, Mall Road, Pir wahdai, Faizabad, Raja Bazar, Murree Road, Commercial Market, 6th Road, Khyban e sirsayed, Rehmanabad, Sadiqabad known as old commercial real estate market and areas.
Prices of per Marla in commercial developed real estate starts from up to 50 lac per Marla.
Rawalpindi Development Authority
The Rawalpindi Development Authority (RDA) is a local government body responsible for the planning, development, and regulation of land use within the jurisdiction of Rawalpindi, a city in the Punjab province of Pakistan. The primary objective of RDA is to ensure organized and sustainable development in the region.
Key functions and responsibilities of Rawalpindi Development Authority typically include:
1. Urban Planning
2. Land Use Regulations
3. Infrastructure Development
4. Housing Schemes
5. Environmental Protection
6. Issuance of Building Permits
Rawalpindi real estate and housing societies function and documentation retain under the vision of RDA. It is a public institution and is responsible for all activities of development. All information about RDA activities, and housing projects is available online.
People should go on websites and find information about real estate and development projects before investing in real estate. All other information about taxes, and documentation is available in the RDA office.
Non-Objection Certificate
NOC stands for Non–Objection Certificate. A Non-Objection Certificate (NOC) is a legal document issued by a government authority or agency to certify that a particular project, activity, or transaction does not pose any objection or conflict with applicable laws, regulations, or policies.
In real estate development, NOC is necessary for use following purposes.
1. Construction and Building NOC
2. Land Use NOC
3. Employment NOC
4. Vehicle Transfer NOC
5. Event NOC
Author’s Statement about NOC
NOC is a specific requirement in the real estate industry business. Documentation competitions mean NOC. In the real estate business, it is a sign of trust and authority to start development. Moreover, People like to invest in those societies where they have NOC and related documents.
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