Down payments of ARY Laguna residential units

Projects & Developments Residential Schemes
#1

Just came across a post on some Saiban Associates revealing the down payments on ARY Laguna residential units in DHA City Karachi. Can somebody confirm if the rates given below are the real ones:

1 Bed for PKR 250,000

2 Bed for PKR 350,000

3 Bed for PKR 450,000

4 Bed for PKR 825,000

Duplex for PKR 1,500,000

Penthouse for PKR 2,000,000

Also, does anybody know more about the details of price plans and the building where these units are being developed? Because ARY Laguna announced a number of real estate developments in the project and these bit by bit details are making me wonder if they even have acquired the required land for the project?

#2

Of course Zameen is selling its name in Mall 35 so there’s that factor too but, on paper the project sounds good and Mall 35 location at Saddar Rawalpindi is also really good. I don’t know about the capital gains and how they have calculated that but the rental yield doesn’t sound too unrealistic all things considered.

#3

I think mall 35 is excellent investment opportunity. Saddar Location is perfect. I did some research for rentals in saddar. And rentals range from 300/Sqft to 700/sqft depending on Floor and brand type.

Saddar and surrounding area lacks mall...so there is natural space to fill plus with saddar...you cant go wrong due to population density.

#4

Location matters and when it is Saddar having all required NOCs, will surely boom. Go for it if you find something at reasonable price. Also share your buying experience once deal is done.

#5

Hi Ammar

I recently bought a shop in mall 35 (ground floor). Price /sq ft cost is very reasonable...infact it is half as compared to surrounding shops...example. Similar shop in Kohistan tower is double the cost.

Also if you compare its price to competitor malls, it is much better. We all know that buying land in saddar is much more expensive than on GT road or housing society...so it is high cost project.

What should be the KPI's for buying shop in a mall

  1. It should have good population density.

  2. Price should be as per area. You cannot build a mall in bahria town and price it same as saddar as land cost is different.

  3. There should be room for growth. If there are too many surrounding malls, there is a chance of failure.

  4. Is contruction/work happening on ground and whats the progress....most of the malls these days are marketing gimmick.

  5. Delivery date along with terms and conditions.

  6. Developer reputation.

thanks

farhan

#6

Hey Farhan,

Bro as per your KPIs, I think Mall 35 is really a solid bet. Congrats on your shop btw. Were you give a project delivery estimate by any chance? Has the work on-site begun?

#7

Hi Hasham

Project delivery date is november 2022. I live close to saddar & construction progress is very good. Every day you can notice on going work and milestone being met.

#8

I had worked on acquisition of mall 35 shop around 1 year ago. At that time even, the project sounded too good to be true.



I abstained from investment in the project because their deadlines seemed unreasonable. Also I happen to work across the road from mall 35 location and haven't seen any difference in the past one year.



Zameen guys have called me for atleast 11 times now. I hope that it works out but I have seen kohistan tower close to mall 35 location and after 3 years , it is yet to take off.



In my opinion, saddar is place for people who choose necessity over luxury. There are already 4-5 shopping plazas and you can visit to see them.



May be a very long term investment in my opinion

#9

Hi Nawaz

Thanks for your input. You are right about not much progress in one year but corona had an impact & most of the malls went through similar delay. If you check now, you will see very good progress.

Kohistan tower is not a mall but more of a family owned tower. Still most of their shops have been sold. However they haven't implemented mall like environment but rather more of a shopping plaza.

Saddar is a place with brands and non brands and i know shops with daily sale in lakhs...so in saddar you have both necessity and luxury shopping...Comparison is for a person who wants to buy a shop in a mall...so of so many malls, which one to select is a difficult task.

Only Allah knows , how a project will end up. But overall it is located very well with good prospects.

thanks

Farhan

#11

Thank you, Mr Nawaz and Mr Farhan for your on-site progress analysis. About project delivery, I have high hopes that it will be delivered before September 2022, at least, that is because the developers have an interest in delivery themselves. I saw on zameen news that Mall 35 is registered with FBR - and all projects registered with FBR have to be completed by that time, if they are to avoid any questions on the source of income.

From what Mr Farhan said about Saddar offering multiple buying avenues for all sorts of purchases, I do believe that will add to the project's appeal. It's been a while since I have visited the area, is there any issue of traffic there, if someone could tell me?

#12

Hi Hasham

Saddar is a heavy traffic area..so its always difficult to find parking...That said, Mall 35 will have 2 basements dedicated to parking & mall 35 is built on 5.2 kanal area.

For progress , please check ebcoconstructions on facebook..as of now laying of Raft foundation is in progress..pics are on facebook.

Today I visited I8 markaz, and shops in I8 markaz are very expensive...More than double the cost of mall 35.

I have also booked a shop in zameen ace mall....here are the prices i got for both shops.

  1. Mall 35....Ground floor = 54,655 / sq ft

  2. Zameen Ace mall...Ground floor 2 = 33000/ Sq ft

BEst thing is to compare per square Ft cost of shop within different malls....check their location and traffic in area...try to go for a deal that saves some money too...otherwise if a shop is booked for a very high price...rental might take a while to compensate...

thanks

Farhan

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