As is the case with most of the recent housing societies in Karachi, properties in Naya Nazimabad are very well-planned. These blocks are composed of , , , sq. The housing scheme is based on modern architectural plans and has almost all basic facilities like water, electricity, gas, mosques, parks, etc.
According to the master plan, the blocks are further divided into streets and each street has plot types. The plots here are good for both investment and building a house. However, you will have to follow the same plan for houses as given by the society owners. The prices of plots in Naya Nazimabad are not the same for every size and the price can depend on a few factors like the size and its location within a block. For example, corner plots are generally pricier.
Talking about the rates, the asking price range of sq. For sq. Naya Nazimabad has been planned to accommodate people hailing from middle-income groups and to provide as much convenience to them as possible with regards to affordability and facilities. The roads here are very wide and residents will have a clubhouse, gymnasium, green areas and parks, Jamia Masjid, horse riding club, cricket and football stadiums, and many banquet halls.
For water supply, they have built overhead water tanks. Gas and electricity supplies are also being installed. Other than this, there are several check posts and a boundary wall around the area for the security and safety of residents. Naya Nazimabad has a specific area, where an education complex is going to be built exclusively for schools. Once fully made, the project will have up to 30, homes, accommodating a population of over , people. Initially, the company recorded a consistent loss between to , the last few years it was still a cement factory, before recording a profit every year since then after having converted to a real estate developer , hovering around the Rs million mark.
In , it recorded its highest profit, at Rs million. Similarly, revenue streams also looked good, in particular in and , where the company brought in revenue greater than Rs2 billion. And then, in and , the slippery slope began. That is the lowest profit after tax since the company began. Most of it is due to revenue from contracts decreasing, from Rs1, million in , to Rs 1, million in And things just got worse in , with revenue falling to Rs1, million, and profit after tax standing at Rs million the difference between the two profit figures for and is simply different taxation rates.
Going forward, the management expects sales and profitability to improve as many new projects are set to be launched in the market.
Why is revenue falling? Well it may have something to do with the negative press not just of the rains, but also the fact that there were multiple petitions to cancel Naya Nazimabad altogether. Javedan then had to file a petition in the Sindh High Court in February Finally in April , the DC withdrew his earlier letters.
This was noted by the court in September When not arguing for the existence of the project in the first place, the company is also trying to make sure the mistakes of do not happen again.
To that end, it has emphasized the development of an external storm water drain before the monsoon season. The external drain measuring ft has been laid from Haji Fazal Town, while bund has been built between block B, C, D to control flow of stormwater.
While a technical consultant has been hired, there is little else information provided. But will people move there to begin with? Save my name, email, and website in this browser for the next time I comment.
Sign in Subscribe. Sign in. A school adjacent to the renowned Lal Gate has been approved and will be constructed in a short period of time. However, more schools are to be developed in the near future within Naya Nazimabad. Some of the most popular schools in the city are also located nearby. For the residents of Naya Nazimabad, there is a wide range of options when it comes to choosing an intermediate college for higher education.
There is a designated commercial area in Naya Nazimabad and it is expected it will house branches of various banks. The residents of the community are being charged a standardized rate for electricity, as KE is not directly sending the bills at the moment. Naya Nazimabad is currently charging PKR As of January , with the installation of a 3. Dr Ziauddin Hospital, North Nazimabad Campus, is a well-reputed hospital, known for providing the best medical facilities in the city. It is situated only 11 minutes away from Naya Nazimabad.
Patel Hospital, M. It is expected that Naya Nazimabad will have its own medical centres and pharmacies for the convenience of its residents. Naya Nazimabad offers varied options for those who want to buy a house here.
For those looking to invest in houses in this area, a wide range of sq yd and sq yd houses are available on sale. Double unit bungalows of sq yd have a price range of PKR 1.
There are sq yd, sq yd, sq yd and sq yd plots available for sale in Naya Nazimabad. The commercial sector of Naya Nazimabad is under construction and there are plans to further develop this sector. The construction of shops, markets, malls, banks and other retail businesses will also begin soon. A number of shopping venues are located nearby. Dolmen Hyderi Mall is the only mall in North Nazimabad where you can easily find international brands. It opened in the year and has now become a key shopping destination in the city.
It is spread over six floors and contains around 50 retail outlets, a huge food court and an entertainment area for children. It has a mix of national and international brands which makes it a popular choice among shopaholics. People residing in Naya Nazimabad have access to a number of eateries and food joints located nearby. From scrumptious food served at Al Madina Restaurant to popular fast food outlets like Pizza Bistro and Broadway Pizza, the neighbourhood has it all.
Plus, it hardly takes mins to reach there.
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