FHSK’s new bungalows – a worthy investment?

readers have often asked for updates on Fazaia Housing Scheme Karachi (FHSK), which is why I am featuring the society in this piece. FHSK recently launched the Fazaia Bungalows, and I have all the information you need to fill out an application.
Located near Dreamworld Resort on Super Highway, FHSK was warmly welcomed by property investors and genuine homebuyers when it launched in 2015.
Initially, FHSK offered standard and luxury apartments, registrations slips or open verified slips, which were traded like hotcakes in the market. These slips can still be traded or can be adjusted in the new projects initiated by FHSK.
Abiding by its promise, FHSK has launched Fazaia Bungalows and has sought booking applications from interested buyers. The registration slips or open verified forms (discussed above) can be adjusted in Fazaia Bungalows.
This time around, FHSK has come up with an intelligent strategy to curb market manipulation. With every application that is filed for Fazaia Bungalows, the developer has mandated a PKR 100,000 token. This will control frequent flipping (buying and selling of property in the short term), and will probably keep many short-term investors at bay.
The best part of the deal is that FHSK is offering a discount of up to PKR 300,000 by introducing an adjustment policy for open verified certificates or registration slips. According to the policy, you can avail a discount of PKR 150,000 for forfeiting one open verified certificate or one registration slip. And if you have two open verified certificates or registration slips, you can get a discount of PKR 300,000. Even a combination of one open verified certificate and one registration slip can be used to avail the discount.
What’s up for grabs?
FHSK is offering 125-square yard (one unit), 275-square yard (single storey), and 275-square yard (one unit) options in Fazaia Bungalows. The payment plan and total price of these units are as follows:
Property Type
125 square yards (one unit)
275 square yards (single storey)
275 square yards (one unit)
Processing fee (non-refundable)
PKR 15,000
PKR 15,000
PKR 15,000
Token money
PKR 85,000
PKR 85,000
PKR 85,000
Down payment (to be paid after balloting)
PKR 317,000
PKR 467,500
PKR 664,800
Thirty instalments (payable after every two months)
PKR 208,000
PKR 288,400
PKR 390,200
Total price
PKR 6,642,000
PKR 9,204,500
PKR 12,455,800
These prices do not include the cost of stairs (if required by the bungalow owner), documentation charges, federal/provincial taxes, outer development charges and the cost of installing utility systems for the supply of electricity, gas and water. These charges are required to be paid on demand.
How can you apply?
You can get the application form online from FHSK’s website. However, the procedure is slightly different. In order to get the application form, you need to fill out an online form and provide your name, email and phone number to FHSK, after which the application form will be emailed to you.
A pay order of PKR 100,000 needs to be made towards Fazaia Karachi Bungalows Account. The application form, along with the pay order, must be submitted to FHSK’s Karachi office or any Habib Bank Limited or Meezan Bank branch.
After some days, FHSK will hold a ballot and announce successful applicants. Unsuccessful candidates will be refunded PKR 85,000.


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