Karachi (HRNW): Land price has surged significantly in Sindh metropolitan since start of 2016 with 24 percent hike in a 500 yard plot’s price, HRNW News reported Tuesday.
Sindh’s capital has beaten the federal capital and Punjab’s heartland Lahore in land prices.
The ongoing Rangers operation has curbed crime rate in target killing-notorious Karachi. Experts havedeclared the price hike an indicator of bettered environment in Karachi.
As per statistics of Zameen.com, price of 500 yard residential plot in Gulshan Iqbal area has hit Rs 2.71 crore while in DHA, Rs 3.95 crore with 14 percent hike.
500 yard residential plot in Lahore’s Bahria Town has increased 19 percent to Rs 1.27 crore while that in Wapda Town Rs 1.64 crore with four percent rise.
In Islamabad, residential plot of the same size in F-11 has seen 15 percent rise taking the price to Rs 5.71 crore and 11 percent in DHA with Rs 1.36 crore.
Karachi property prices jumped 23 percent last year to a record high, outpacing other large cities and the national average of 10 percent, data from property website Zameen.com showed. The clampdown also has a growing number of supporters, not least among a business community long frustrated by Karachi s reputation for high rates of crime.