Fazaia Housing Scheme Phase II – A look at current status

The society is located near Sundar Industrial Estate on Sharif Medical City Road, which is also known as Jati Umrah Road. The society shares its neighbourhood with Bahria Orchards and Abdalian Housing Scheme Phase II. Being a small society, yet bigger than its phase I, Fazaia Housing Society – a project of Pakistan Air Force – enjoys certain credibility among property buyers and investors. Let’s explore it more.

Project details

The society features four residential blocks and a dedicated commercial centre at both its entrances. With various plot size options i.e. 5-marla, 7-marla, 10-marla, and 1-kanal, Fazaia Phase II targets a wide range of genuine buyers. It is essentially a walled, gated, and secure society that boasts of solid development work and reliable investment due to its brand name.

Development status

At the moment, the developer has competed roadwork on all streets and roads in the society. In addition to that, sewerage lines have already been laid. With streets and plot numbers marked and the areas identified for parks, masjids, and other public facilities, development work in Fazaia Phase II has been completed by 80%.

Possession timeframe

The developer earlier announced the handover of property possession in August this year, but it couldn’t manage to meet this deadline. Pending electrification work is believed to have caused the delay. According to latest updates, the digging for laying underground wiring for electrification hasn’t started off yet. To complete the electrification work, the developer requires at least another six months.

A look at the rates

In Fazaia Phase II, which is essentially targeted at property buyers from middle-income groups, the options for 1-kanal residential plots are limited, with only 62 plots in total. Out of these 62 1-kanal residential plot, six are located in Block B, and the remaining in Block A. The 10-marla plots here are found primarily in Blocks A and B. Block C primarily features 7-marla plots, while Block D only has 5-marla options.

Here is the price range for these plots:

Some genuine concerns

The neighbourhood lacks the organised feel of a proper dwelling, primarily because many small settlements and villages are located here. In addition to that, the housing societies in this area are also not extensively inhabited. Naturally, Fazaia Housing Society Phase II is ready right now to attract genuine buyers. Some people believe it might take at least the next five years for this area to see some activity that can attract genuine buyers.

In other words, handing over possession will not make much difference. Nonetheless, the rates will certainly fluctuate by 10-15%.

What should you do as a property owner?

If you own property in Fazaia Housing Society Phase II and don’t have plans to stick out for long, you can sell off your plots after the possession is handed over. In this regard, please note that the developer hasn’t given a new timeline for possession handover. Staying on the safe side, we hope to see something positive happening towards the first quarter of 2018.

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