Palm City Gwadar: New instalment plots launched

Palm City Gwadar is a residential project by Chohan Developers. Located in Mauza Shabi, Gwadar on Jinnah Avenue 2, the location promises to be a fantastic one, which is easily connected to the CPEC route, Balochistan Broadway, Marine Drive, and Makran Coastal Highway. Mauza Shabi is also going to have Gwadar’s international university, the Memorandum of Understanding for which has already been signed.

The NOC for Palm City Gwadar has also been restored conditionally for four years, which means that development has to be completed or GDA will take action, and the NOC number is 67/07/HS/GDA(B).

Project Details

To match with the international standards of the city that Gwadar is going to be, Palm City Gwadar promises to feature a vast range of amenities and luxuries including sports and entertainment centres, restaurants, food court, hospital, and shopping malls.

The project is also going to offer 24/7 power backup, a golf course, commercial and business square, luxury villas, apartments and even farmhouses. All with a state-of-the-art security system.

All of that may seem too far into the future. However, quite close at hand is the development which has been awaited for quite a while now – though it is certainly not the developer’s fault. According to Major (retd.) Babar Shahzad of Defence Avenue, there are only a couple of societies in Gwadar which have done development work and they consider it a risk before Gwadar Master Plan is released.

Babar and Ali Imtiaz of The Property Magnates both explained that development in Palm City Gwadar will begin after January, after Gwadar Master Plan is released in December. Initially, Ali expected the development to begin with construction of boundary wall.

New instalment plots launched

Just today, on 26^th November, 2018, an advertisement announced the launch of new plot cuttings in Palm City Gwadar. The plots launched include 5-marla, 10-marla, 1-kanal, 2-kanal residential plots, while the commercial plots include 2-, 5-, and 8-marla options.

The instalment plan spans four years in both cases. Booking can be made in 10%, however, you will be assigned a plot number only when you make 20% payment, which constitutes the complete down payment. Another 30% is to be paid in 3 annual instalments, while the remaining 50% is paid in 45 instalments over four years. Below is the detailed payment plan:

4-year Payment Plan
Residential Plots
Plot Size	Processing Fee	Total Price	Down Payment (20%)	Monthly Instalments (45)	Yearly Instalments (3)
5 marla	5,000	950,000	190,000	10,800	95,000
10 marla	5,000	1,700,000	340,000	18,800	170,000
1 kanal	10,000	3,000,000	600,000	33,300	300,000
2 kanal	10,000	5,500,000	1,100,000	61,100	550,000
Commercial Plots
2 marla	10,000	2,000,000	400,000	22,000	200,000
5 marla	10,000	4,000,000	800,000	45,000	400,000
8 marla	15,000	5,500,000	1,100,000	61,000	550,000

It should be noted that the payment plan is based on the cost of land only. In case of 100% lump sum payment, you get a 10% discount. In case of 50% payment, you can 5% discount, and in case of 20% down payment, you get one instalment off.

Both Babar and Ali were of the opinion that the fantastic location for Palm City Gwadar makes it a great place to invest. It is about 20-25 kilometres from the city centre, and Marine Drive is nearby. According to Babar, a proper beach is expected to be established near the Mauza Shabi and of course, there is the university as well. All of these will make the margin of profit in Palm City Gwadar quite high. Though any investment there, like most of the investments in Gwadar, will have to be long-term.

Are you interested in investing Palm City Gwadar? Do you have any questions about it? You can talk to us in the comments section. You can also head the Zameen Forum for a detailed conversation.