Taj Residencia: Latest update on market situation

Taj Residencia is the inaugural residential project of Pak Gulf Construction (Pvt) Ltd, the developers of Centaurus Mall and a lot of anticipation has existed around the project as a result. The project has not disappointed so far. According to Muhammad Yasir of Land Marketing Real Estate & Consultant, Taj Residencia has obtained an NOC from Rawalpindi Development Authority (RDA) under whose jurisdiction the project falls. The development has been progressing well, and one of the selling points for the project is that even though the project is yet to be officially launched, four out of eleven blocks have already been developed.

Taj Residencia is located near CDA Sectors I-14 and I-15, its entrance opens onto I-14/15 Link Road, providing easy access to all the areas of Islamabad. According to Yasir, the project is expected to be launched in January or February next year.

Development, prices and payment plan

As already explained, development work has been completed in four blocks, A, B, C, and D, while other blocks are being developed. If that wasn’t amazing enough, you can also gain possession in these blocks and begin the construction of your house on just 50% payment.

Developed Blocks (1.5-year Payment Plan)
Plot Size	Prices in PKR	Down Payment	Quarterly Instalment
5 marla	4,500,000	1,350,000	525,000
8 marla	5,200,000	1,560,000	606,000
10 marla	6,000,000	1,800,000	700,000
14 marla	7,200,000	2,160,000	840,000
1 kanal	10,000,000	3,000,000	1,166,666
Non-Developed Blocks (2.5-year Payment Plan)
5 marla	4,000,000	800,000	320,000
8 marla	4,700,000	940,000	376,000
10 marla	5,500,000	1,100,000	440,000
14 marla	6,700,000	1,340,000	536,000
1 kanal	9,500,000	1,900,000	760,000

According to Yasir, now some of the sellers are even demanding an asking premium for plots in development blocks, which averages around PKR 200,000. He also explained that when the project is officially launched early next year, the prices are going to be revised. He expected PKR 700,000 to be added to prices of each category of the plots.

Investment prospects

Yasir was all for investment in the project. He explained that the main reason for that is obviously the level and pace of development. Development has been taking place at a great pace and within a year it can be expected that families will be living in the developed blocks. According to him the developers of Taj Residencia are keen to develop the project quickly because this going to set the tone and expectations that people will come to associate with Pak Gulf Construction and they are keen to set a good benchmark as they expand further within this project, and then further into other cities of Pakistan.

Yasir recommended long-term investment in the project. According to him, while short-term investment may yield decent results, much better results can be expected in the long run. For investors, he recommended the undeveloped blocks. He was of the opinion that category plots would be the best option there. So when the prices are revised, additional amount will be automatically added to these prices, while considering the pace that development is taking place, new blocks might be developed soon as well, which means that an asking premium may be added within a year as well. This automatically translates into a great margin of returns.

Are you looking to invest in Taj Residencia? Do you have any questions about it? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed conversation.

Some of the information in this blog is sourced from Muhammad Yasir of Land Marketing Real Estate & Consultant who can be reached at +92 332 5130001 for further consultation.