Which Housing Society Features makes it good?
In Pakistan, people are more inclined towards investing in housing societies rather than abandoned plots. This trend is valid for short term investments, long term investment & also for those considering to build residence in a few years. Experienced investors & buyers look for certain Housing Society Features before investing in unlike others. There are salient reasons which allure people to invest & buy plots in their respective housing schemes.
Finding a good residential scheme is not easy. Moreover, if you are new in this field, then there are huge chances that you may get your investment stuck in some fraudulent schemes. In this blog, we will discuss which housing society features makes it perfect. So, without further ado, let’s start discussing these characteristics.
While deciding any scheme, Developers’ reputation is the foremost aspect to consider. It actually reflects the overall standard of housing scheme. Buyers and investors usually recommend investing in housing societies owned by reputable developers to ensure their investment remains safe. Another aspect to also view is previous track record, does the developer have enough machinery, man power, finances. Has he previously honored his commitments on his prior projects this will help you determine the developers credibility.
Having a clear legal status is necessary for any housing schemes. There are respective development agencies in every city that gives NOC to these development. For instance, Capital Development Authority (CDA) is Islamabad and Rawalpindi Development Authority (RDA) in Rawalpindi are the agencies gives final approval. They keep check & balance of certain parameters to maintain the security, safety, quality of development.
The legal approvals help people understand whether it’s developing legally or not. Since, nobody want to indulge in any scam or falsified schemes. Thus, the legal status of the housing scheme makes it ideal for investment. Here keep in view that TMA or Tehsil Muncipal Authority NOC is not the same RDA NOC. There are multiple different departments that need to give noc before a final NOC is awarded from RDA unlike TMA.
In addition, the nature of facilities as well as amenities also determines the quality of the housing scheme. Moreover, affordability or payment plan of housing schemes also differs individual’s interest in any development.
Connectivity & Proximity
In Real Estate business, location is everything. If a plot is present in far off area with unpaved roads, it doesn’t make any sense to live in it. To make it worse, the major centers of the city are also not in proximity to it. In other words, the connectivity to society along with proximity to main hub of the city also matters in deciding the value of housing scheme. Location is key a good located plot will almost always give a healthy ROI.
Gated Community with boundary walls
This feature has gained very much popularity in the past several years. In fact, it is the fastest growing trend in Real Estate. It is preferred because of security. Gated Community societies with boundary fences is always considered as more secured. Toll check, uniformed guard & barriers gives people & investors a perception about more secured environment. After the success of mega projects most private societies now have their own security team that helps in assisting in domestic issues within the compounds of the society. This is turn provides a peace of mind to most investors.
Infrastructure & Planning
It is basic & integral aspect of any housing scheme. In fact, it is what makes a scheme worth investing. This category includes:
- Roads Network
- Water, Gas & Internet facilites
- Width & condition of roads
- Provision of civil utilities
- Power backups
- Sewerage and sanitation system
- Parking spaces
Moreover, people also consider the overall distance from residential to commercial area within a society. Thus, sound master planning lays vital role in evaluating housing scheme.