PECHS; the dark horse of Islamabad’s Zone II

Launched back in the late 80s, Pakistan Employees Cooperative Housing Scheme (PECHS) has once again managed to interest investors. That’s due to its location near Islamabad International Airport where it shares its boundary with Mumtaz City.

The society management is currently in talks with Mumtaz City to get access, and many believe that an agreement in this regard is close to being inked. With PECHS getting direct road access from Mumtaz City, it will only be a half kilometre away from Kashmir Highway.

Furthermore, property rates here are much cheaper than the neighbouring societies and the fact that its newly launched blocks, Blocks K and M, are being developed along modern lines and according to desirable town plan, the society has a lot in store for the potential investors. Here is all the information you need in this regard.

Project details

The society currently has its main entrance via Fateh Jang Road and it comprises Blocks A, B, C, D, E, F, G, H, K and M. Among these blocks, Blocks A – H were launched several years ago while Blocks K and M were introduced much later. The society has approvals for utility services including electricity, water and gas for the developed area, while electricity connections are yet to be make available in Blocks K and M.

The society falls in the jurisdiction of Rawalpindi Development Authority, which has also granted it all the necessary approvals. It is however expected that with new demarcation carried out to determine boundary of Islamabad, PECHS will be become part of the capital.

Development Status

Development work in Blocks A, B, C, D and E has been completed by over 90%, while work is underway in some lanes and parts of these blocks. A few families are also living in these areas.

Unlike the mentioned blocks, development work in Blocks F, G and H has been completed only partially. The main reason behind this delay in development is attributed to the litigation issues which are yet to be sorted out. It is also the reason why machinery hasn’t installed in the areas awaiting development work.

According to our sources, development work F, G and H has been completed by 25%, 40% and 50% respectively. Possession for the developed parts of the blocks has also been granted.

Quite interesting, development work in Blocks K and M, which were launched many years after Blocks A, B, C, D, E, F, G and H, has been completed. Furthermore, possession is also available to the members asking for it. In the meanwhile, work is underway on Block M Extension, for which the developer recently launched 5-marla plots on a two year payment plan.

Market trends

Demand is lukewarm for plots in PECHS because the overall market conditions in the country are dull. But potential investors and existing members do realise that property here is cheaper by at least a 100% than its optimum market value. Considering this, investment activity for smaller plots in Blocks M is also witnessed.

The society primarily features 1-kanal and 2-kanal plots, the market rates of which are unrealistically low in comparison to similar societies in the neighbourhood. Seeing the existing buying trends in the neighbourhood, the developer launched smaller plots in Blocks M, which also generated the expected market response. Nonetheless, the fact remains that price appreciation here hasn’t been as stark as that witness in projects located in its immediate neighbourhood.

Price trends

Be it the plots launched in the new booking or those in the established blocks, market rates here are lower by at least 70% when compared with Top City-1 and Mumtaz City. While development standards of the old blocks cannot be compared with that of neighbouring societies’, town planning and work carried out for Blocks K and M is pretty impressive. It is also the reason why most of demand for plots in these blocks is also high.

The current market rates of residential plots in PECHS will give you a fair idea on how much these prices can potentially go up in suitable investment circumstances.

Blocks	Plot size	Price range in PKR
Block A	2-kanal	4,000,000 – 8,000,000
Block B	1-kanal	3,500,000 – 4,500,000
Block C	1-kanal	3,500,000 – 5,000,000
Block D	1-kanal	3,500,000 – 4,500,000
	2-kanal	7,000,000 – 8,000,000
Block E	2-kanal	7,000,000 – 8,000,000
Block F	11-marla	1,100,000 – 2,000,000
	1-kanal	2,100,000 – 2,200,000
Block G	1-kanal	2,000,000 – 3,500,000
Block H	1-kanal	3,000,000 – 4,000,000
	2-kanal	4,000,000 – 4,500,000
Block K	9-marla	2,200,000 – 2,500,000
	1-kanal	3,500,000 – 4,000,000
	2-kanal	7,000,000 – 9,000,000
Block M	5-marla	1,800,000 – 2,200,000
	7-marla	2,200,000 – 2,500,000
	10-marla	2,600,000 – 3,400,000
	1-kanal	4,000,000 – 4,200,000

If you have feedback on the article or any queries for us, let us know by leaving a comment below. You can also get in touch with Raheel Rafiq of Meezan Estate and Marketing by giving him a call at +92-333-604-0094.

Mian aslam says:

December 3, 2018 at 6:36 pm

new plots are available also in M ext at installments
shamshad says:

December 4, 2018 at 10:32 pm

plot price in K and M includes development charges?Whom to contact?
1. Samra Zulfiqar says:
  
  December 5, 2018 at 9:23 am
  
  Raheel Rafiq of Meezan Estate and Marketing has the information you are looking for; call his at +92-333-604-0094.
Hussain says:

December 7, 2018 at 12:17 am

All business stand on one word “Demand”. Demand of plots, increases the prices of properties and vice versa.

PTI govt. flagship housing program is set to attract most of the demand of plot/house buyers, as a result, the buyers would no longer be interested in private housing societies.

That is the core reason of fall in property prices, which would further go down massively, as the new govt. housing scheme picks up the steam.

Following are the triggers that would ensure fall of property market in the next five years:

1. New rural migration from village to cities shall be taken care of by the new govt. housing scheme.

2. The short term local investors will no longer jump into buying plots here and there, due to tax clamp down on them.

3. The overseas buyers too are not interested in a business, which is falling.

4. The new govt. wants investors to avoid investments in properties, rather they should invest in other industries where jobs can be created. Property market does not create jobs.