In just 3-4 weeks prices are almost 50% increased in B-17. There is no major construction, still Margalla Avenue project is in doubt (land acquisition report is not submitted yet). CDA have no fund to pay this month salaries (according to 27th April news paper). There are few plots which are sold multiple times (Investors* Investors). Please comment!
What are the current prices?
In B block demand of kanal plot is above 4,400,000/- and in C block demand is around 3 million for good location plot.
The prices do sound inflated for this moment in time. Must be dealers trying to make some quick money. If you tell them that you want to sell a plot then you would get different price.
You are right. I ask 2 of very active dalers to sell my plot and they offer about 7-8 lac less than they are demanding for same type of plots.
Well, What I foresee these prices wouldn’t depreciate now as CDA has to construct the avenue anyways. I don’t see this escalation in prices is artificial but the prices will appreciate more as soon as the project is launched. I am not a dealer but simply a market observer and I don’t think these prices will depreciate now. Rest Allah Knows!
Margalla Avenue… let’s see when work starts and when completes.
If they are they are quoting 8 lacs less for selling your property then it means that prices are really only worth 10% more than before and not 50%.
The prices are still going up, maybe this is in response to proposed launching of Margalla Avenue, I guess due to the new airport, this has to be built anyway, sooner or later. Block B is getting populated already. Maybe its a not that artificial? Any updates?
Margalla Avenue is a big factor as tender NIT amount was 75 crore but a firm won on below rates (50 crore) CDA officials are trying to tease that firm but hopefully soon they will get work order.
So if the work starts then most probably the prices will not drop even if this is an artificial rise. There maybe further rise in prices once they break ground for this proposed road, which is the main attraction for buying plots in this area. What do you advise friends? more investment in this area advisable?
I already said in another discussion that the whole zone 2 is best for investment and it will be most valuable zone after zone 1. As some very important futures are connected to that zone like new air port Motorway gt road Kashmir Highway and Margalla Avenue.
Any news is a good news for all the public and private schemes.
The two lowest bidders were R M Gulistan and Rakhshani . These companies offered to complete the road for Rs500 million against the CDA's estimate of Rs 750 million. But the tender was yet to be awarded after scrutiny committee submitted its recommendation in favour of one of the two firms within the week after the tender closed, but yet its pending.
Dealers are taking all the benefits of any news coming in, but having said that a 50% jump is still not justified and must be deemed artificial. I would here agree with @Arshad and second not more than 5-10% increase as this Margalla Avenue project was always in CDA plans and is nothing new.
Ali MEYAAR Builders
Thanks for your reply guys, to be fair I don't think there has been a 50% rise in 4 weeks. This is a little exaggeration to be honest. For example six months ago, one kanal plot in Block B was put on the market between 28-30 lac, now you can still find plots just under 40 lac. So it is not exactly a 50% rise in just 4 weeks. Margalla avenue was always in plans but was left to gather dust, so dusting this dust is new.
Comments?
About 1-1/2 month ago a plot no 1577 in block C is sold in 1800000. This is corner plot now normal plot is about Rs 3 million. My friend bought a 3060 plot in C block for Rs 950,000 now the price is Rs 1.3 million. on 30th Mar i bought a kanal plot in block D and i sold on profit of Rs 200,000 which is also about 45%. About 2 months ago a Plot 1149 Block B is offered to me in 2 million this is also corner plot but now its price is 3 million. Plot N 1415 Block B 4080 is offered me for Rs 2 million. I am willing to buy that plot in 25 lac but now 40*80 size plot in B is around 3 million.
I think prices are increased by average 50%.
Normally societies increase prices by announcing that electricity is approved,than gas,etc. These facilities are already there B-17. 10% increase is justified but 40-50% in just 2-3 months is seems artificial.
No doubt Society is development is very good and fast pace but I doubt that there are 500 families living in next 2 years. There is movement in property from last few months especially in G-13,G-14 and zone 2 in my personal opinion devaluation of Pakistani rupee is the main reason.
Thanks Kamran sahab,
But the question is, for how long will they can keep it up artificially? investing in B-17 looks my like a gamble i.e if prices do not come down, then they will shoot up further once Margalla Avenue is started, so maybe its a good time to buy in Block C?
I think society is very sharp and prices will not come down but may stable. There is very limited sale offers and investors, dealers and society is playing their cards very intelligently. Just few years back same thing happened in E-11. I think it is still a good time to purchase a plot in Block C. There is still lot of juice in B-17 especially in Block C. I also suggest if some one want to invest than try to invest in small size plots.
Society place an ad for construction of School and sports complex few days ago.
In B-17 prices did not increase as the society handed over possession and it got electricity and gas, so perhaps the price jump is justified viewed in this context. The prices may not fall as many people want to build their homes there and most of the investors have probably already got out, but I also don’t expect prices to rise any futher.
I am sure thats artifiacal prices, because CDA have to dp alot of thing else more over if they start that marghalla rode even that u r not sure how long it will take to complet that projest.may be it takes couple of years…so that not the right time for that much increased in prices…so plz beawaver thats dealer game…