After extending the submission deadline from 31st March 2019 to 23rd April 2019 for application forms, Taiser Town Scheme 45 finally held its plot balloting on Friday, 19th July 2019 at the Beach Luxury Hotel. 20,000 successful applicants were chosen out of the 170,000 applications received in total. Whether you’ve been one of the lucky few or are just interested in investing in Taiser Town Scheme 45, here is all you need to know about the much-hyped housing project.
An Overview of Taiser Town
[Credits: Offfical Website of ECIL]
Taiser Town was first initiated as a residential and commercial housing scheme by the Karachi Development Authority (KDA) in 1986. Nearly ten years later, it was handed over to the Malir Development Authority (MDA) in 1996 and was relaunched by the MDA in 2005. Located in the northeastern part of Karachi near Gulshan-e-Maymar and Dreamworld Resort, the project covers an area of approximately 21,000 acres and will house around 2.5 million people once it is fully developed and populated.
The masterplan of Taiser Town Scheme 45 has been designed by Engineering Consultants International Limited (ECIL) and includes a range of amenities and facilities such as parks and recreational avenues for families developed over around 9,500 acres. The project will also include a commercial district set alongside the Karachi Northern Bypass, which passes through the society, offering an easy commute to residents and plenty of business opportunities to commercial investors.
Plot Balloting of Taiser Town Scheme 45
With regards to the plot balloting held last week, nearly 22,000 plots had been up for grabs with sizes ranging from 80, 120, and 240 square yards to 400 square yards. The successful applicants of the balloting will be notified about it with official letters being dispatched to their postal addresses along with a schedule for the payment of instalments as per the plot’s cost.
If you were interested in investing in Taiser Town Scheme 45 and have not been contacted by the MDA after the balloting, you can check your result online at their website using your CNIC, form number, and the applied plot category.
Development of Taiser Town Scheme 45 Karachi
After the balloting, officials spoke to the media and said that development work in Taiser Town Scheme 45 would begin within the next six months and that all the successful applicants would be given possession of their land within a period of one year subject to the timely payment of their instalments. This will ensure that they are able to begin the construction of their houses in the society at the earliest.
Prices for Plots in Taiser Town Karachi
Prices for plots are as low as PKR 1,000 per square yard for those who are interested in investing in Taiser Town Scheme 45. However, investment is currently limited to computerised balloting only. Thus, you can only own a plot in Taiser Town Scheme 45 if you’ve been successful in the recent ballot.
We congratulate you if that has been the case. For all the successful applicants of the plot balloting of Taiser Town Scheme 45, the rates of plots are as follows:
As the table above shows, a plot of 80 square yards costs PKR 1,000 per square yards while plots of 120 square yards are available at a rate of PKR 1,500 per square yards. Meanwhile, larger plots of 240 and 400 square yards have prices of PKR 1,800 and PKR 2,000 per square yards respectively. As such, the total price of a plot of 80 square yards is PKR 80,000, while a plot of 120 square yards in Taiser Town Scheme 45 is available for a total cost of PKR 1,20,000. Furthermore, a total investment of PKR 5,28,000 and PKR 12,00,000 will be required to own a plot of 240 and 400 square yards respectively.
Please note that these charges are to be paid as per the payment schedule that has been sent to you by the MDA via post or SMS. Moreover, these charges do not include any other development or utility charges.
Refunds for unsuccessful applicants will be made available at the same branches of Silk Bank after a month of the balloting. Please take your CNIC and registration slip with you to claim your refund.
The Future of Taiser Town Scheme 45
[Credits: Facebook/Taiser Town Scheme-45 (Mailir Development Authority)]
Taiser Town was initiated as a low-cost and affordable housing scheme that is ideal for people who cannot buy plots in the costlier and completely developed parts of Karachi given the skyrocketing prices of real estate in Karachi. Considering the flexible 3-year instalment plan being offered and the comparatively low rate per square yard, investing in Taiser Town Scheme 45 seems like a viable and potentially lucrative decision.
However, plots will only be made available for sale after complete payments have been made by the successful applicants of the recent ballot. The rates of plots will also see a rise in the future once the society starts developing as per the plans, and people start moving to the residential community once their houses have been built. For now, official developments will begin once the initial payments have been made by all the concerned parties and Taiser Town Scheme 45 will most probably start generating profits and gain more traction with the progress of the development work.
Got any questions or queries with regards to investing in Taiser Town Scheme 45? Email them to us at blog@zameen.com, and we’ll get back to you promptly. For more property investment advice, keep following Zameen Blog.
*[Cover Image Credits: Facebook/Taiser Town]
