MPCHS Multi-Gardens, B-17: A confident wave of activity riding through the cautious seas of real estate

If we were to list down some of the most popular projects around the country in 2018, Multi-Professional Cooperative Housing Society’s Multi-Gardens, B-17 will be around the top. This was also evidenced by the fact that this year, MPCHS Multi-Gardens crossed Bahria Enclave Islamabad in the Zameen Search Trends for plots in Islamabad.

Even now, when the caution is the general state of market around the country, MPCHS still is indeed one of the few confident waves riding through the rather hesitant seas of the real estate market. All the on-ground sources interviewed explained that while the prices are not appreciating at the same pace they were going at during the first three quarters of the year, the buying/selling activity and the interest of the investors remains as high as possible.

Currently, the prices stand as follows:

Block A
Plot Size	Prices in PKR
1 kanal	7,000,000—9,000,000
2 kanal	12,000,000—14,000,000
Block B
10 marla	6,000,000—8,000,000
14 marla	6,500,000—8,000,000
1 kanal	7,500,000—10,000,000
2 kanal	12,000,000—14,000,000
Block C
8 marla	3,500,000—6,000,000
10 marla	3,500,000—7,000,000
1 kanal	7,000,000—9,000,000
2 kanal	10,000,000—13,000,000
Block E
8 marla	3,0000,000—6,000,000
10 marla	3,500,000—6,000,000
1 kanal	5,000,000—7,000,000

According to Muhammad Usman of Asasa Real Estate & Builders, the asking premiums in Block G stand as follows:

Plot Size	Asking Premium
5 marla	200,000
8 marla	350,000
10 marla	425,000
14 marla	450,000
1 kanal	500,000

Meanwhile, in Block F, the asking premiums stand as follows:

Plot Size	Asking Premium
10 marla	1,200,000—1,400,000
1 kanal	2,000,000

Expected developments

The news to look forward to is that of balloting, and usually the balloting for MPCHS has been held after two instalments. The same is expected for Block G. The second instalment is due in January 2019, so the balloting and map are expected around late January or February, according to Usman. That is when we can also expect significant development there.

Meanwhile, the situation remains the same as before in Block D, but a significant amount of development has taken place in Block F, which is more than 90% completed, according to multiple interviewed sources. The roads are currently being carpeted.

Meanwhile, Altaf Ahmed of New Generation Properties felt that almost all of the blocks in Multi-Gardens B-17 can be considered for investors, but the newer blocks would be more suitable. So he recommended that depending on your budget, you can consider Block G where prices are quite low and the plots still have a substantial number of instalments remaining, so it will be incredibly affordable.

If your budget is higher, you can go for a number of other options including Block F, where the plots still have instalments remaining and possession is available in a large part of the block. Other options to consider include Blocks D and E as well, where the prices still have potential to appreciate.

Are you looking to buy a plot in MPCHS Multi Garden, B-17? Do you have any questions about it? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed conversation.

shahid says:

December 25, 2018 at 2:54 pm

what about investing in Block A, 1 Kanal?
MOHAMMAD JAVED says:

December 27, 2018 at 11:39 pm

Some plot file holders in B17 Multigarden Housing Society have created an artificial hype in the market on Facebook. I am amazed when a file holder demanded Rs 5000 a day to their profit for selling a plot even if the real estate market has a downward trend from Karachi to Khyber. Even the dollar doesn’t go up at this ratio(meaning if his profit to sell a 7 marla plot was 350000 today, tomorrow it would be 5000 more). Is there any controlling authority to complain against such elements in the real estate market or should it be referred to the Chief Justice for correction.

Interestingly, when you sell them a plot, you will be offered a lower market trend rate, meaning not even 1% profit. They try to catch a buyer on Facebook without him physically checking the market on ground.

The Group mostly exchanges among themselves hot chats of buying and selling on Facebook just to lure a buyer.

Shouldn’t we be aware of such sellers as they just want to offload their files at a higher profit margin. If you are a buyer, study the market through Zameen.com and consult several real estate gurus please.