Top City-1 vs Mumtaz City – the debate concludes here

These two projects are among the most popular ones in Islamabad Zone II – the zone where the biggest attraction is the city’s yet to be inaugurated new international airport. In fact, the presence of this transit facility and its much anticipated launch is the reason why investment activity continued in this zone despite an overall drop noticed in property transaction volume during 2017.

For many investors active in this zone, the debate about which project is better than the other has been on for while especially among those who have strong faith in a bright future of Top City-1. The fact also remains that each time rates drop in Top City-1, property demand picks up in Mumtaz City and vice versa. So what should you really do when it comes to choosing between them? This blog helps clarify it for you through a simple comparison.

Development status

In this regard, Mumtaz City is a gainer because development work here is in the advanced stages in many blocks, while the developer has also granted property possession by 90% in its Chenab Block and by 60% in Ravi Block, according to Sheraz Manzoor of Pak Associates. On the other hand, possession is available in Top City-1’s Block B, while the interested owners having plots in Block A, C, and D can apply and get property possession as and when they want said Muhammad Sarosh of Multplyrz Group.

The developer of Mumtaz City has also granted possession for farmhouses in Executive Block. On account of the ongoing development work, work is going on in the remaining 10% of Chenab Block, where land is being levelled at the moment, said Sheraz.

In Ravi Block, the remaining 40% of the area where possession is yet to be granted comprises the Markaz, where work is being done to make arrangement for utility services. Development work on the Markaz is expected to be completed in the next couple of months, he added.

Chenab Block development work is going on in the remaining 10%, where land is being levelled, next sewerage and water line and then to start work on road network. In Indus and Executive Blocks, road network has been completed while final arrangements are being done on laying underground lines for electricity, sewerage and other utility services.

In Top City-1, development work has been completed by 80% in Block C and 60% in Block D. In Block D’s 40% undeveloped parts, road network has been completed, plotting done and final work in process for arranging for utility services, said Sarosh. In Block C’s 20% area where property possession is yet to be granted, development work is going on at the road network and laying underground lines for sewerage, electricity and water etc.

Comparing the pace of development work, Top City-1 appears more efficient but that’s because they have wider area to develop.

In terms of construction of houses from the end users, more units are under construction in Mumtaz City as compared to those in Top City-1, according to Manzoor, who also expects similar activity to increase in Top City-1, where marketing and booking of three high-rise buildings is underway; Time Square, Magnus, and Samama.

Comparing rates

The comparison is interesting because despite being more popular among investors at the moment, property rates in Top City-1 are lower than that of Mumtaz City’s. This is although not discouraging because lower rates suggests bigger growth. According to Manzoor, property rates in Mumtaz City are higher because development work here is in advanced stages. In addition to that, the strong market reputation of Mumtaz City’s developer is also the reason why rates here haven’t really been dropping.

The fluctuation seen Top City-1 rate in the past gave the investors a bigger margin to look at in terms of price appreciation. Here are the rates:

If you compare these rates, you will notice that per marla rate in Top City-1 is cheaper and that’s because possession for many of these plots is yet to be granted. In addition to that, the lower rate of 5-marla plots in Top City-1 is for files, for which the developer is yet to hold a ballot to allocate plot numbers, the date for which is yet to be announced.

Marketing Approach

In this regard, Top City-1 does much better as it has a policy in place for its authorised agents, the number of which reaches 30 at the moment. These agents get the perks of encountering a smooth transfer procedure, and they also get coverage in the marketing campaigns done for Top City-1. Mumtaz City, on the other hand, has no such arrangement  in place, where agents interested to market the project can do so without any formal authorisation.

The social media marketing team of Top City-1 is also very active where it disseminates information through widely used platforms like WhatsApp, Facebook, and Twitter, said Sarosh, where daily updates on information required by investors is ensured.

The marketing budget for Top City-1 is also higher, while Mumtaz City operates in the old-fashioned way.

In addition to that, the demand generated through effective marketing campaign planned and executed for Top City-1 is easier to handle since the transfer fee is lower for it. In addition to that, the developer’s policy to allow the file owners keep their files open is also a reason why more investors are drawn to investing in Top City-1.

Future plans

The future plans for Top City-1 are enthusiastically taking place because the developer is soon to launch new blocks here on an area of 4,000, which means more options for interested investors, said Sarosh. Mumtaz City, too, is planning to launch extension of some of its blocks on an area of 200 to 300 kanals. Both developers are likely to offer their deals on a payment plan and whichever will be more convenient is bound to be more popular, according to Manzoor.

In Mumtaz City, the extension will include residential plots in sizes of 5 marlas, 8 marlas, 10 marlas and 1 kanal, and also high-rise developments and a commercial tower.

Top City-1 is looking to launch its Blocks I, J and K, which will feature 5-marla, 10-marla, 1-kanal and 2 kanal residential plots, 4-kanal farmhouses, residential apartment projects, shopping malls, mini golf course, a mini lake, a five-star hotel, sports grounds and facilities and a mini zoo, according to Sarosh. So all that you heard Top City-1 will have is soon to be launched.

In addition to that, Top City-1 will also have a whole list of features specific to a smart city. This part of the development plan will be executive towards the final stages of development work.

Accessibility

On the underground Metro Bus route connecting the new airport with the city, Top City-1 will have two bus stations, while Mumtaz City will have one, according to Sarosh. Should that count? Doesn’t really matter because in terms of accessibility, Mumtaz City is better as it has two entrances; one from Kashmir Highway and the other from Fateh Jang Road. On the other hand, Top City-1 only has one entrance from Kashmir Highway via a dedicated interchange.

So which one?

If you look at these two projects in terms of their future plans, you will notice that Top City-1 has a lot to offer, both in terms of land and expected gains. In addition to that, as told by Manzoor, the developer of Top City-1 has ensured high quality development standards, which can easily be compared with that of Bahria Town’s. The society has yet not revealed its true picture of how grand it is actually going to be and those who have an idea sadly have short-term investment plans where they continue to reinvest as and when some returns are expected.

Property buyers in Mumtaz City appear less ambitious about getting gains in the short term. Most of them are also the end users, as told by the agents, who also believe that availability of limited options make Mumtaz City less attractive for investment. According to them, Top City-1 has a long way to go.

Based on this argument, you can make your investment plans accordingly but do share your feedback with us in the comment section below. Some active threads on these projects also continue to serve readers visiting our forum regularly; we recommend you do the same. On these forum threads, many independent experts and estate agents are available to guide you further about investing in these societies.