So far, we have only talked about popular private housing societies benefitting from the inauguration soon to take place of the new Islamabad international airport. Today, we are giving you an insight into the Capital Development Authority (CDA) sectors, which in Zone II, have been allotted to different departments to set up their cooperative housing societies.
Current status of cooperative societies
The CDA has allocated land to the management of these cooperative housing societies essentially because the civic body doesn’t have enough resources to manage these sectors on its own, Ziaullah Marwat of Marwat and Associates told us. By allowing different departments operating at federal level to set up cooperative housing societies in these sectors, the CDA extends help to their employees to avail buying land at special rates, said Marwat. Once these societies are close to 70 per cent occupied, the CDA will take over the administrative role, he added.
Here are the popular cooperative housing societies in Islamabad’s Zone II where buying property today will make you the owner of property in a future CDA sector.
G-15 or Jammu & Kashmir Cooperative Housing Society (JKCHS)
It is located on Kashmir High near GT Road Interchange on Islamabad Motorway Link Road with Peshawar Road and GT Road running through it. It is conveniently close, yet a safe distance away from the new airport facility and the Islamabad-Peshawar Motorway M-1.
JKCHS is 100% developed with property possession available throughout the project. It features 8-marla, 10-marla, 14-marla, 1-kanal, 24-marla and 2-kanal residential plots. According to Muhammad Usman, who also works for Marwat and Associates and is considered a specialist for housing societies located close to the new airport, the society has some litigation issues. He warns buyers interested in the society to deal through a reliable agent in order to make sure that they only buy plots in areas that have been cleared. Here is the current rate of residential plots, Usman shared with us:
Plot size | Price range |
8-Marla | PKR 6,500,000 – PKR 9,000,000 |
10-Marla | PKR 8,500,000 – PKR 11,500,000 |
14-Marla | PKR 10,000,000 – PKR 15,000,000 |
1-Kanal | PKR 12,500,000 – PKR 20,000,000 |
24-Marla | PKR 15,000,000 – PKR 21,000,000 |
2-Kanal | PKR 23,000,000 – PKR 30,000,000 |
G-16 or Ministry of Interior Cooperative Housing Society MICHS
It is located adjacent to JKCHS and is comparatively smaller in size. The same road network that benefits the residents of JKCHS also makes G-16 an equally attractive place to live. The airport’s distance from here is comparatively shorter, which is a major reason why it attracts buyer, Zeeshan Alvi of Mubarak Estate told us.
Despite the fact that property possession is not available throughout the society, property rates here are almost the same as that of residential plots in JKCHS. However, the NOC for the society has been cancelled lately since its management failed to comply with the CDA rules. As soon as they do so, the CDA will retrieve the NOC for MICHS, said Alvi, who believes that rates here will drop marginally in the meanwhile.
The options available in MICHS in terms of plot size are comparatively few as the society only features 8-marla, 10-marla, 14-marla and 1-kanal residential plots. Here are the rates of residential plots according to Alvi:
Plot size | Price range |
8-Marla | PKR 7,000,000 – PKR 9,000,000 |
10-Marla | PKR 8,500,000 – PKR 15,000,000 |
14-Marla | PKR 10,000,000 – PKR 14,000,000 |
1-Kanal | PKR 13,000,000 – PKR 18,000,000 |
B-17 or Multi-Professional Cooperative Housing Society (MPCHS)
It is located in the eastern edge of Islamabad Capital Territory along the Islamabad -Peshawar Motorway M-1. Compared to the other two societies we discussed above, the distance between B-17 and the airport is longer, and that shouldn’t be a problem because the extensive road infrastructure here connects everything important together, Alvi told us.
According to Usman, the society is about 80% developed with possession available. It has eight blocks; Blocks A, B, C, D, E, and F. Block A is 90% developed, Block B and C are 100% developed and Block E is 80%, while the development is complete in Block E by 20%, which also has some litigation issues. At the moment, Blocks F and E are seeing development work. The development work in the extensions of Block B and C i.e. B-1 and C-1 is expected to be completed in one year, said Usman. Here are the rates:
Plot size | Price range |
8-Marla | PKR 1,800,000 – PKR 3,700,000 |
10-Marla | PKR 2,800,000 – PKR 5,000,000 |
14-Marla | PKR 3,500,000 – PKR 7,000,000 |
1-Kanal | PKR 4,500,000 – PKR 11,000,000 |
What’s your feedback on this article? Let us know through your comments. You can also discuss your options and get more suggestions on the Zameen Forum by starting a new discussion. If you wish to speak to Muhammad Usman from Marwat and Associates and discuss your options, call him at +92-344-523-1900.
Comments are closed.
Nice Article. What about State Life and Islamabad Cooperative Housing Society near new ISB Airport. Both these are cooperative societies, what is recommendation of investing in these societies.
Nice article. What about investing in State Life and Islamabad Cooperative housing societies, both these are located near to new ISB airport and cost of plot is much reasonable. Need feedback.
Nice article thanks for sharing this information
what about fazaia turnol, will it get any benefit.
WHAT ABOUT FAZAIA TURNOL, WILL IT ALSO GET BENEFIT.
Yes, because rates there dropped. With related developments in airport’s inauguration, not just the gap will fill, further appreciation is also likely.
which place is best for short term investment
Please do a article about CDA owned sectors,like i-16,etc and specially about developing sectors like i-12,so that we can get some idea to invest in.
Best Regards,
Farrukh Abbas
Dubai
dear, please give detail information about I-14, I-15, and I-12, all this I series, please update and also force to authorities that the people related to these sectors to much ignore I think that’s no one big personalities invest here,
prelease write detail article on this
Pease write detail article on I series CDA sector I-12, I 14 and I 15 the ignore sectores
Samra any update on F 15-2 (extention) on non-possession plots. I bough a plot in 2013 and so far no possession given, any hope?
Ali
UK