Al Mairaj Garden: Low-budget plots on instalments

Al Mairaj Garden is one of the newest project being launched in Islamabad near Chakri Road. With low-priced plots available in easy instalments, it is a project that can genuinely interest low-budget investors and genuine buyers. Here’s all you need to know about it:

Al Mairaj Garden offers various plot sizes: 3-marla, 5-marla, 8-marla, 10-marla, 1-kanal, 2-kanal and 4-kanal residential plots and 4-, 6-, and 8-marla commercial plots. The key feature that makes it interesting is its low prices with 3-marla plots which can be booked for as low as PKR 30,000 (10%) followed by PKR 30,000 confirmation and then monthly instalments of as low as PKR 3,000 spanning a period of five years. The best of all: you can have the plot transferred to your name with the payment of 25% of the price, according to Ali Imtiaz of the Property Magnates.

RDA and NOC

According to Imtiaz, Al Mairaj Garden is located in the jurisdiction of Rawalpindi Development Authority (RDA) and the developers have applied for an NOC with the authority.

Imtiaz further explained that while Al Mairaj Garden will spread over 20,000 kanals of land, the developers have already acquired 14,000 kanals and this is the land being developed and the applied NOC is for this area.

Location and expectations

Located not far from Chakri Interchange of Lahore-Islamabad Motorway, the location is rather remote but connected  to M2 Motorway and, it is expected, to Rawalpindi Ring Road as well.

In fact, Rawalpindi Ring Road might make it an amazingly wonderful investment opportunity. According to the proposed route for Rawalpindi Ring Road, Al Mairaj Garden will get easy access to places like GT Road, with Bahria Town at a distance of as little as 20 to 25 minutes of driving. The Islamabad International Airport is also located at about 30-minute drive from Al Mairaj Garden.

Considering that instalment plans span five years and Rawalpindi Ring Road will take time as well, it can be expected that the development of all these amenities will not be particularly fast as it will take about five years but, in long-term the potential returns can be huge.

As it is, the prices of developed 5-marla plots where possession is available in housing schemes like Top City and Qartaba City are priced at around PKR 2.5 million, whereas 5-marla plots in Al Mairaj Garden are being offered as low as PKR 500,000.

Amenities

According to Imtiaz, development has already begun and amenities being offered include wide-carpeted roads, underground electricity, and quality water, gas and sewerage services including fresh water and sewerage water treatment plants. It is going to be a gated housing scheme with 24/7 security staff and CCTV monitoring while other planned amenities will include mosque, hospital, schools and malls.

Payment Plan

The project is still in pre-launch stages and the phase ends on 31^st March 2018. In the pre-launch phase, residential plots are priced as follows:

• 3-marla plots are priced at PKR 300,000;
• 5-marla plots are priced at PKR 500,000;
• 8-marla plots are priced at PKR 750,000;
• 10-marla plots are priced at PKR 900,000;
• 1-kanal plots are priced at PKR 1,700,000;
• 2-kanal plots are priced at PKR 3,200,000;
• 4-kanal plots are priced at PKR 6,000,000.

Meanwhile, the commercial plots are priced as follows:

• 4-marla plots are priced at PKR 1,200,000;
• 6-marla plots are priced at PKR 1,800,000;
• 8-marla plots are priced at PKR 2,400,000.

The booking and confirmation two months later are 10% each while the remaining 80% is to be paid in 60 monthly instalments over a period of five years. Here is the detailed payment plan for both residential and commercial plots in Pakistani Rupees:

Are you looking to buy a plot in Al Mairaj Garden? Do you have a questions about it? Talk to us in the comments section. You can also head to the Zameen Forum to begin an extensive discussion.