Hi all,
Initially people suggested that price rise in b-17 may be artificial or maybe because of Maralla Avenue . But the prices are still going up and the future of Margalla Avenue is not very clear. As far as i know, they are still working on it, but may not build the whole road and will also reduce it to a 2 lane road. So what is the future of b-17? Has it achieved its full potential? Will prices cash , stabilize or go up further in next 2-3 years?
Thanks
Prices in all societies of Islamabad are on the rise. Generally, the reason for this is devaluation of the rupee.
But prices in some societies are rising faster than others. For example in b-17 Multi-Garden the price rise is faster than in some other zone ii societies. This is because of two things -one, multi-pro has over the years gained credibility with regard to standard of development; -two, there is the expectation that Margalla Avenue will be completed soon.
At the moment, work on the 8km section of Margalla Avenue between Shah Allah Ditta and Sangjiani is in progress but is in behind schedule so far due to shortage of funds with CDA. However, it is very likely that it will be completed within a year or so inshAllah despite the delay.
Upon the opening of the margalla avenue, prices in b-17 as well as in some other societies of zone ii will take a jump.
But as far as b-17 is concerned, prices will keep rising even if there is delay on Margalla Avenue because of the excellent development standard and services (ambulance etc.) that multi pro is providing in that sector.
@Pk1,
Thanks for the detailed reply, appreciate it. I have heard about the good reputation of multi Gardens.
It seems that block-b in b-17 has the highest prices, followed by block-c, is there still investment potential in this sector and roughly how much this sector may gain from current prices in next 2-3 years? 20-30% from current price?
Regards
Yes b block is highest, then c block and then a block (this block is near hill blasting and has mudfilled bharai but otherwise it is very pretty).
Prices of b-17 generally will keep rising slowly to offset devaluation and inflation. Then you can expect prices to take about 50% jump upon completion of margalla avenue in 2013/14. After that prices can be expected to rise with increase in population in that sector and will cross f-17 price levels. Prices in a, b and c blocks may become a bit stagnant when possession in d and e blocks becomes available.
Jazakallah