Advantages and Disadvantages of Pre-Fabricated Construction

Although pre-fabricated construction has been deployed for centuries around the world, only now it is gaining traction tremendously.

In a nutshell pre-fabricated construction is the practice of manufacturing the components of a structure (such as walls, floors and roofs) at a factory, and the transporting them to the construction site where they are assembled to create a couple structure after the foundation has been built onsite.

In this way pre-fabricated construction distinguishes itself from the more conventional practice of transporting raw materials (such as cement and steel bars) to the construction site where they are mixed with other materials and / or modified.

Pre-fabricated construction is ideal for sites where storage area is limited, due to size of the plot or because of a lack of open space around the construction site , and can be utilized for building houses, hospitals, offices and factories.

The Advantages of pre-fabricated construction include:

• ·       For the most part it is cheaper than traditional construction, as labor costs and construction time are substantially lower.
• ·       Components are manufactured at a factory, so the need for form work shuttering and scaffolding is greatly reduced onsite. This ensures strict quality control and easier manageability.
• ·       Wastage of material is reduced due to better quality of control; pilferage is also reduced as it is more likely to occur at an open construction site.

The disadvantages of pre-fabricated construction include:

• ·       Greater expertise is required to make sure that the components are fixed perfectly; otherwise air leaks can occur inside the structure which can result in a host of issues such as water seepage and increased heat. Similarly heavy duty cranes are required to handle and assemble the components require expertise.
• ·       If building components are manufactured far away from the construction site, transportation costs can sometimes be higher.

Ultimately, pre-fabricated construction is quicker and more cost effective compared to traditional construction. And with rising construction costs, it is something that developer should consider utilizing.

4 Easy Tips for Investing in a Commercial Property

Investing in commercial property is an option that many investors considers from time to time as a way to expand their asset portfolio. Commercial property options for investors usually includes office spaces, retail spaces, stand alone shops and vacant plots.

Here are a few things to consider when purchasing a commercial property:

Location. Owning a retail space in certain commercial areas can net in higher rentals and their value also increases at a higher rate. Choose a commercial area where the value and demand of shop is high; shops located among main roads have more visibility, accessibility and are therefore better options. If possible, purchase a commercial property that is located in a specialized pocket such as tailoring hub, computer market or a food street; demand for property there is usually higher.

Weigh your options carefully. Buying a retail space in a mall is a better option than a standalone shop, since retail spaces in malls offer facilities such as security, utilities and a higher number of customers. Similarly, the resale value and the rental yield of an office space are higher when compared to those of a retail space.

Renovating and Reselling. Retail spaces and standalone shops that are sold as many empty spaces (without any renovation work or fittings) are slightly cheaper than those which have been customized according to the kind of business they were being used for.
Therefore, a good option to consider is purchasing an empty space, renovating it, and then selling it for a higher price or renting it out at higher rate.

Vacant Plots. Purchasing a vacant commercial plot in an area that is being developed usually proves to be a lucrative option in the long run because its value and demand increases faster than that of a built-up property.

The Architect In The Bend

The straight line is simple; it sets a limit, normalizes the extraordinary and registers a purpose. But to Oscar Niemeyer, one of the greatest architects of the 20th century who passed away last week, the straight line was the enemy.

To Niemeyer, the straight line was a man-made invention, utterly rigid and full of constraints. While movements such as the Bauhaus based their design dialogue on right angles and straight lines, Niemayer held them in disregard, saying, "The rule is the worst thing. You just want to break it."
This was despite the fact that Niemeyer was a modernist himself, deeply inspired by peers such as Le Co busier with whom he worked on the remarkably rectangular headquarters of the UN in New York. He was, however, averse to devote himself to a particular style and when asked if form followed function, he would reply, "Form follows beauty."
Niemeyer believed in curves, which he said reminded him of the sensuality of the feminine form on the sun-kissed beaches of his native Brazil. They allowed his designs to break away from the monotony that was dictating modernism and reflect a more optimistic and liberating nature of architecture, often culminating in surprise, as at the Church of Saint Francis of Assisi in Sao Paolo, and delight, as at the Niteroi Contemporary Art Museum in Rio de Janeiro.
Niemeyer's legacy is preserved in Brasilia, Brazil's federal capital, which he was commissioned to build in the 1950s. The largest city that didn't exist before the 20th century, Brasilia is as sensuous as any capital could be, with the great halls of Congress resembling giant demos and cauldrons and low-roofed administrative. buildings revealing subtler bends. There, the Cathedral of Brasilia is considered one of Niemeyer's greatest achievements. Using 16 parabolas to connect a high circular roof in the center with shades of tinted glass, the Cathedral boasts an audacious design and is a reminder of an architect who is one quoted to have said "Of curves is made all the universe".

Ranking Real Estate: Block Avenue

According to microeconomics, the discrepancy between the information available to people who own property and those who wish to buy is a big reason why property values are inefficiently calculated. That information is power is a well known fact but now, thanks to the internet, such information (like power) can be acquired democratically.
The main driver behind this movement in real estate is a website called Block Avenue, which documents and then compares property values across different city neighborhoods. The comparisons are based on feedback (graded A through to F) of how a street or community is doing according to set criteria, including amenities and healthcare facilities available in the neighborhood.
An accurate estimate of the "livability" of a property is easily gathered, as owners (the people with the most information about where they live) are asked to rate their neighborhood.
However, as a critic pointed out, "Why would owners rate their property and location poorly?"
To counter this, Block Avenue allows anyone familiar with a neighborhood to contribute to the rating. It also uses objective data sources such as census reports on crime rates, as well as yellow book listings of businesses and recreational options to grade.
With the help of Google Maps and Street View, Block Avenue makes hunting for real estate incredibly convenient and potential investors can virtually eliminate the need to visit a property before buying it,
Launched earlier this year, Block Avenue touts itself as a service made by the people for the people. Apart from property owners and buyers, Block Avenue is generating interest among researchers working on determining how amenities and other variables impact property prices in a given neighborhood. Currently, the services provided by Block Avenue are available only in the US, but with the amount of interest it is generating, the company expects to expand worldwide in the near future.

Emerging Architectural Trends in Pakistan

Although most architects in Pakistan would concur that a distinct Pakistani design language is yet to emerge on our skylines, a number of trends over the last decade have resulted in the construction of some outstanding structures.
These include:
Global influence. Architecture in Pakistan has taken on a distinctively global flavor in terms of design and functionality. Consequently, an increasing number of commercial high rises and houses new display straight lines, simple facades and clean finishes, using "no-nonsense" materials such concrete, wood and glass.
Sometimes a combination of these materials is used to create facades with large windows or glass curtain walls.
Old world courtyards. There has been a resurgence of old world havelis, in contemporary homes and even commercial spaces, such as restaurants. Courtyards create private outdoor areas that are centrally located within the structure. They can be used as relaxing sanctuaries or recreational spaces. Special attention is paid to details such as flooring, finishes an landscaping; plants (such as bamboos) are used to create partitions within the courtyard, or a backdrop for water features. Wooden pergolas (usually made of mahogany or teak) are used as accents.
East meets west. While there is a movement towards contemporary architectural elements are deployed equally frequently. For example, sinus-detailed screens, known as jafri, can be seen in many commercial projects against modern backdrops of glass, wood or steel. Regional materials such as reddish terracotta tiles (which are earthy and reminiscent of colonial flooring) and traditional fabrics and textiles are equally visible and serve as edgy design details.
Going green. Green architecture is gaining traction; some solutions to ensure that a structure is environmentally friendly include the appropriation of open spaces for adequate wind flow to allow cross ventilation, roof insulation to keep the interiors cool, the addition of water bodies to create cool spaces and an emphasis on foliage to provide shade. Rainwater harvesting systems are being used in order to facilitate the collection, conservation, and recycling of water.

The Impact of Budget on Pakistan's Real Estate Market

The federal budget 2012-13 came into effect on July 1, and has certain implications for property purchasers and sellers, especially in regard to property taxes.
These include:
1. Capital Gain Tax (CGT)

• CGT has been re-introduced in Pakistan after a passage of 26 years; it was lifted in 1986.
• CGT is imposed on residential and commercial property owners who are reselling a property within two years of purchasing it. It is payable at the time of selling a property.
• CGT is calculated as a percentage of the increase in the value of a property in a given period; 10% CGT will be applied on property that is being resold within one year; five percent CGT will be applied on property that is being resold within two years.

2. The collctor Rate (CR)

• The CR is official value of the property and is decided by the Government; it is used to determine the value of several property taxes including Capital Value Tax, Registration Fee and Stamping Fee.
• The CRs remain have not changed this year and vary according to where the property is located.

3. Capital Value Tax (CVT)

• CVT is payable to the Government when a property is purchased; it has not changed this year.
• CVT is determined as a percentage of the Collector Rate; it varies according to the type of property. The details are as follows:

Houses
Plot Size (sq yds)                                CVT
Less than 100                                      0%
100-500                                              2%
More than 500                                     2.5%

APartments
Covered Area (sq ft)                            CVT
Less than 1,000                                    0%
1,000-2,200                                         2%
More than 2,200                                   2.5%

Commercial Property
Covered Area (Sq ft)                          CVT
All sizes                                                2.5%

Real Estate Investment in Basement Businesses

Basements are gaining traction in Pakistan as a best real estate investment. Basement are as commercial and retail spaces, and a as a result, they are no longer dingy areas without adequate ventilation or lighting. In fact, many new real estate developments, large and small, include pleasant, well ventilated, adequately lit basements with easily accessible entrances ad emergency exits.
The reason for this is that many commercial areas prohibit construction above a prescribed height, and in such cases, basements provide extra floor space, which means higher property value and rental yield for landlords amounting to approximately 10-15% more compared to buildings without basements. Furthermore, because basements are available at lower rental rates than ground level shops, they make better financial sense for small businesses.
Basements in Pakistan are usually used in two ways:
1. Parking or storage spaces in large and mid sized commercial buildings. Although parking space can be found in the basements of high-end shopping malls, retail businesses, restaurants/cafes and bakeries in mid-sized buildings usually rent or purchase ground-level shops that have an attached basement to use as storage space or kitchens.
2. Commercial/retail spaces in smaller buildings. An array of businesses are now housed in basements, small offices, clinics, salons, gyms, and even tuition centers are operating out of well designed basements in smaller, newer buildings.
Covered area of basements include: 80, 120, 160, 200, 300, 500, 600, 800  and 1,000 square feet.
The pricing structure (in rupees per square foot) for commercial/retail spaces is as follows:

City                               Purchase Price                  Monthly Rental
Karachi                             4,400-13,500                  17-18
Lahore                              5,120-13,700                   19-79
Islamabad                         5,600-14,400                    20-80

Real Estate Investment in Quetta with just Rs. 10 Million

Surrounded by mountains, Quetta was once knows as "Lille London" due to it's cooler climes. Although Quetta isn't as idyllic as it once was, demand for real estate there is high, primarily due to the influx of migrants from neighboring areas, and it was considered to be the best place for real estate investment.

Here is a look at houses in upscale and well-maintained residential areas in Quetta that can be purchased for Rs. 10 million or less:
1. Cantonment was established in the late 1800s, during the British occupation. It is located on the outskirts of the city. Several recreational venues have a presence there (including the Quetta Club, several sports grounds and a shooting range), as do Command and Staff College, FG Federal College, Chiltan Market and Serena Hotel
Plot Size (sq yds)                            Purchase Price (Rs)
75                                                      3-3.4 million
125                                                    4-4.5 million
250                                                    7-10 million

2. Chaman Housing Scheme was established in 1979. It is located six miles from the city center. Home primarily to foreign dignitaries, it has modern houses and a good infrastructure. The International Committee of the Red Cross (ICRC) is located there.
Plot Size (sq yds)                            Purchase Price (Rs)
75                                                      3-4 million
125                                                    4.4-6 million
250                                                    9-10 million

3. Emaan City is one of Quetta's newest developments. Located near the PAF base, this gated community has good infrastructure in addition to a commercial market, park and an independent water supply.


Plot Size (sq yds)                            Purchase Price (Rs)
120                                                    2.5-3 million
140                                                    2.5-3.2 million
240                                                    3-5 million
267                                                    3.5-5.5 million

4. Satellite Town was established in the 1970s. It is located near Munni Market, one of the Quetta's prominent markets and Sariab Road, a popular commercial hub. Educational institutions in Satellite Town include the University of Balochistan.

Plot Size (sq yds)                            Purchase Price (Rs)
75                                                      3-4 million
125                                                    4.5-6 million
250                                                    7.5-10 million

There are golden Rea Estate Investment opportunities in Quetta, and it is strongly recommended to invest in Quetta if one is looking for good IRR. 

Best Real Estate Investment in the Summer Holiday's

As the summer sets in, the demand for holiday homes across world wide increases. According to real estate investment experts, three categories of homes are gaining traction around the globe: chalets, farmhouses and seaside bungalows (beach huts). Chalets and farmhouses can be found in different parts of the world, while huts are only available along the coastlines, primarily in Karachi, Gawadar and Ormara. They can be purchased or rented, and are available furnished or unfurnished. Without any doubt these could be best real estate investment in the upcoming summer season.
1. Chalets are usually located within city limits, on the scenic grounds of well as a kitchenette can can accommodate between two and four people. Facilities include private swimming pools and jacuzzi. Plot Sizes: 100-250 sq yds. Purchase price: Rs. 405-13 million (Karachi); Rs 4.4-12 million (Lahore); 5-15 million (Islamabad); Daily Rental: Rs 1,500-20,000 (Karachi); Rs. 2,500-17,000 (Lahore); 2,000-30,000 (Islamabad).
2. Farmhouses are usually located on city outskirts and are built on large plots. They generally comprise four to six bedrooms, bathrooms and a kitchen. They can accommodate between eight and 10 people. Modern farmhouses provide facilities such as cable TV, Internet access, and swimming pools. Farmhouses communities also offer nature-based recreational activities such as hiking, horse riding and fruit picking. Plot Sizes: 1,000-10,000 sq yds. Purchase Price: Rs 4-75 million (Karachi); Rs 5-100 million (Lahore); 7-80 million (Islamabad). Daily Rental: Rs 4,200-30,000 (Karachi); Rs 4,000-37,000 (Lahore); Rs 3,500-32,000 (Islamabad).
3. Beach Huts are located along the coast and range from basic 'huts' built on small plots on buy public beaches to luxurious villas located on comparatively secluded beaches. Luxury beach huts can usually accommodate up to 10 people and comprise up to four bedrooms and bathrooms, swimming pools and kitchen. Plot Sizes: 180-245 sq yds. Purchase price: Rs 2.5-9 million (Karachi). Daily Rental: Rs 1,000-30,000 (Karachi).
These were some of the best real estate investment tips in the upcoming summer season of around the globe.

Taj Mahal: An Example of Real Estate Investment

The Taj Mahal in Agra, also known as "The Jewel of Muslim Art in India", is one of the Seven Wonders of the World. It was built by Shah Jehan, the Mughal Emperor, in memory of his late wife, Mumtaz Mahal. It was no doubt a best real estate investment ever.
Construction began in 1631; masons, stone cutters, in layers, carvers, painters, calligraphers, dome builders and other craftsmen from the Indian Empire, Central Asia and Iran worked together under the supervision of architects Abd-ul-Karim Ma'amur Khan, Makramat Khan and Ustad Ahmed Lahquvi (the principal designer). The entire complex, which comprises the Taj Mahal and several gardens, took 22 years to build at a cost of approximately Rs 32 million at that time.
Shortly after its completion, Shah Jehan was deposed by his son Aurangzeb and was eventually buried in the Taj Mahal next to his beloved wife.
Although the Taj Mahal was built in the style of Mughal and Persian architecture, the use of the breathtaking pure white marble, embellished in certain places with nearly 28 precious and semi-precious stones (including carnelians, lapis lazuli, sapphires and turquoises), was extraordinary and a novel idea at the time.
What also made the Taj Mahal unique was the fact that prior to its construction, most Mughal and Persian buildings, such as Jahangir's tomb, were surrounded by four lawns In a way, the gardens become a procession which culminated in the Taj Mahal.
The Taj Mahal's architectural style was then used in other Mughal structures and remains a very strong architecture, the cost and sheer size make it very difficult to do so. However, we do see gesture in our mosques, particularly those in the Middle East, where the Taj Mahal's architectural style is clearly visible.
Ultimately, the Taj Mahal is an edifice of one man's love for the woman he loved. Never again in history have we seen such a monument built for love.

What five to ten million rupees will get you in Hyderabad:Real Estate Investing

The second largest city of Sindh, Hyderabad stands at a significant geographical, economic and cultural junction. It is no doubt a best place for investment in Pakistan. A developed urban center in its own right, Hyderabad has several universities, the institute of Sindhology and Asia's longest bazaar, the Shahi Bazaar, and a real estate market experiencing renewed activity.

Here is a look at residential areas in Hyderabad priced between five and 10 million rupees, which are attracting investment in Pakistan:
1. Cantonment is located in proximity to some of Hyderabad's well-known residential areas such as Latifabad and Qasimabad, and is a few minutes away from Hyderabad Railway Station. Easily accessible from Hyderabad's major arteries, this well-maintained residential district is undoubtedly Hyderabad's most upscale; there are several recreational facilities in the vicinity as well as shopping options. The famous Bombay Bakery is also located there.
Plot Size (sq yds)          Purchase Price range (Rs)
250                                  9.8-10 million
325                                  9.9-10 million

2. Latifabad is one of the Hyderabad's largest residential areas. It is a well planned suburb divided into 12 units. Each unit includes a hospital, educational institutes and commercial area. Latifabad Units 7 and 8 are famous for Anarkali Bazaar and Siddiqui Centre, a popular shopping plaza. An upscale residential area, it is considered to be one of the best in the city, and it is a best opportunity for investment in Pakistan.
Plot Size (sq yds)          Purchase Price (Rs)
150                                 5-6.5 million
200                                 6-6.7 million
250                                 7.5-7.9 million
300                                 7.7-8.2 million

3. Qasimabad is located adjacent to Cantonment and Government Officers Residences (GOR), and is easily accessible via the NS Motorway, Thandi Sarak and Wadhu Wah. It is a middle-class residential area and comprises several prominent societies inculding Anwar Villas, CItizen COlony, Faraz Villas, Gulistan-e-Sajjad, Nasim Nagar and Waqar Town. Qaismabad has several reputable educational institutes, hospitals and recreational avenues.

Plot Size (sq yds)           Purchase Price Range (Rs)
125                                 5-5.5 million
225                                 6-6.7 million
300                                 6.8-7.6 million
400                                 7-8.5 million

Here lies best opportunity for any investor to investment in Pakistan.