Etihad Town, a prestigious development in Lahore, Pakistan, has introduced an Overseas Block in its Phase 2 expansion, catering specifically to Pakistani expatriates and international investors. This comprehensive guide provides essential information about the Etihad Town Phase 2 Overseas Block, including its features, investment potential, and how overseas Pakistanis can become part of this thriving community.
Overview of Etihad Town Phase 2
Before delving into the specifics of the Overseas Block, it’s important to understand the context of Etihad Town Phase 2:
- Total Area: 1950 Kanals
- Launch Date: Approximately 2.5 years after Phase 1
- LDA Approved: Yes, ensuring legal compliance and security for investors
- Development Status: Rapidly progressing, with many areas nearing completion
The Overseas Block: Key Features
The Overseas Block is a dedicated section within Phase 2, designed to meet the unique needs and preferences of international investors:
- Prime Location: Strategically positioned within Phase 2 for optimal accessibility and value appreciation
- Exclusive Plots: Range of plot sizes catering to various investment capacities
- Enhanced Security: Additional security measures for peace of mind of overseas residents
- Dedicated Customer Service: Specialized support for international clients
- Flexible Payment Options: Tailored payment plans considering international transactions
Plot Sizes and Pricing
The Overseas Block offers a variety of plot sizes to suit different needs and budgets:
| Plot Size | Total Price (PKR) | Booking (PKR) | Confirmation (PKR) | 30 Monthly Installments (PKR) | Balloting (PKR) | 02 Balloon Payments (PKR) | Possession (PKR) |
|---|---|---|---|---|---|---|---|
| 5 Marla | 4,550,000 | 455,000 | 455,000 | 40,000 | 682,500 | 537,500 | 682,500 |
| 10 Marla | 8,250,000 | 825,000 | 825,000 | 72,000 | 1,237,500 | 982,500 | 1,237,500 |
| 1 Kanal | 15,340,000 | 1,534,000 | 1,534,000 | 134,000 | 2,301,000 | 1,825,000 | 2,301,000 |
Note: Prices are subject to change. Always verify the latest rates with official Etihad Town representatives.
Payment Plan Details
The payment plan for the Overseas Block is designed to be investor-friendly and flexible:
- Booking: 10% of total price
- Confirmation: Another 10% due shortly after booking
- Monthly Installments: 30 easy monthly installments
- Balloting: 15% due at the time of balloting
- Balloon Payments: Two payments of 11.25% each
- Possession: Final 15% due at the time of taking possession
This structure allows investors to manage their finances effectively over the development period.
Investment Potential
Investing in the Etihad Town Phase 2 Overseas Block offers several advantages:
- Capital Appreciation: Given Lahore’s growing real estate market, property values are expected to rise
- Rental Income: Potential for good rental yields, especially from expatriate communities
- Secure Investment: LDA approval ensures legal security
- Development Track Record: Etihad Town’s history of timely delivery boosts investor confidence
- Modern Amenities: State-of-the-art facilities enhance long-term value
Amenities and Features
The Overseas Block benefits from all the amenities of Etihad Town Phase 2, including:
- Gated community with 24/7 security
- Wide, well-planned roads
- Underground electricity and gas supply
- Modern sewerage system
- Dedicated parks and green spaces
- Commercial areas for convenience
- Educational institutions within the community
- Healthcare facilities
- Mosques and community centers
- Sports and recreational facilities
Location Advantages
Etihad Town Phase 2, including the Overseas Block, enjoys a strategic location:
- Proximity to Lahore Ring Road
- Easy access to Allama Iqbal International Airport
- Close to educational institutions like COMSATS and UCP
- Near healthcare facilities including Shaukat Khanum Hospital
- Convenient distance from major commercial areas
How to Invest from Abroad
Overseas Pakistanis can invest in the Etihad Town Phase 2 Overseas Block through the following process:
- Initial Inquiry: Contact authorized Etihad Town agents or the official sales office
- Documentation: Prepare necessary documents (passport copy, NICOP, proof of income)
- Plot Selection: Choose preferred plot size and location
- Booking: Pay the booking amount through international bank transfer
- Regular Payments: Set up a system for timely installment payments
- Power of Attorney: Appoint a local representative if needed for on-ground matters
Legal Considerations for Overseas Investors
- Ensure all transactions are through proper banking channels
- Understand tax implications both in Pakistan and your country of residence
- Familiarize yourself with Pakistan’s foreign investment laws
- Consider setting up a local bank account for ease of transactions
Future Development Plans
Etihad Town continues to evolve, with plans for:
- Additional commercial developments
- Expansion of educational institutions
- Enhanced recreational facilities
- Potential for a dedicated business center for overseas investors
Community and Lifestyle
The Overseas Block is designed to offer a lifestyle that appeals to international residents:
- Multicultural environment
- Community events celebrating Pakistani culture
- Opportunities for networking with fellow expatriates
- Modern living standards comparable to international destinations
Conclusion
The Etihad Town Phase 2 Overseas Block represents a unique opportunity for Pakistani expatriates and international investors to own property in a rapidly developing area of Lahore. With its strategic location, modern amenities, flexible payment plans, and potential for value appreciation, it stands out as an attractive investment option.
However, as with any international investment, due diligence is crucial. Prospective buyers are advised to:
- Verify all information with official Etihad Town sources
- Understand all terms and conditions thoroughly
- Consider seeking advice from local real estate experts
- Stay informed about Pakistan’s real estate market trends
By offering a blend of modern living, investment potential, and a connection to Pakistani roots, the Etihad Town Phase 2 Overseas Block is positioned to be a sought-after destination for overseas Pakistanis looking to invest in their homeland’s future.
FAQS:
- Who is eligible to invest in the Etihad Town Phase 2 Overseas Block?
The Overseas Block is primarily designed for non-resident Pakistanis and international investors. However, resident Pakistanis may also invest subject to specific terms. - What are the minimum and maximum plot sizes available in the Overseas Block?
The available plot sizes range from 5 Marla to 1 Kanal. The smallest is 5 Marla and the largest standard size is 1 Kanal. - How can I make payments from abroad?
Payments can be made through international bank transfers, remittance services, or by setting up a local bank account in Pakistan. Etihad Town provides guidance on the most efficient payment methods. - Is there a specific visa requirement for overseas investors to purchase property?
There’s no specific visa requirement for property purchase. However, you may need appropriate documentation like a valid passport and NICOP (National Identity Card for Overseas Pakistanis). - What is the expected completion time for the Overseas Block?
While exact timelines can vary, Etihad Town has a track record of timely delivery. The expected completion time is within 2-3 years from the launch date. Always verify the latest timeline with official sources. - Can I sell my plot before taking possession?
Yes, you can sell your plot before taking possession, subject to certain conditions and transfer fees. It’s advisable to check the specific terms in your agreement with Etihad Town. - Are there any additional costs besides the plot price?
Yes, there may be additional costs such as development charges, utility connection fees, and legal fees. These are typically outlined in the purchase agreement. - How is the security managed in the Overseas Block?
The Overseas Block features enhanced security measures including 24/7 surveillance, gated access, and dedicated security personnel. - Can I appoint someone in Pakistan to manage my property affairs?
Yes, you can appoint a local representative through a power of attorney to manage your property-related matters in your absence. - Q: What makes the Overseas Block different from other areas in Etihad Town Phase 2?
A: The Overseas Block offers exclusive features tailored for international investors, including specialized customer support, potentially enhanced amenities, and a community of fellow expatriates and international residents.
