Dear zameen management, kindly help me understanding if eden housing limited has a valid and on ground project called “eden residencia phase 1?? I am an overseas pakistani working in qatar. I have invested for 5 marla plot in eden residencia phase 1 in january 2010 with a total investment of 20 lac.
The initial promise of the builder was to hand over developed plot within 3 years, should have been delivered in january 2013), but unfortunately even today in may 2014 eden sales team is unable to answer my telephones about any hope on development and possession date.
I have already paid pkr 1,737,500/- up to now and now only two installments left along with a final 10% payment which was originally scheduled to be paid on possession.
Where do i stand? Should i consider if my hard earned “rizkay e halal” gone in waste without any hope of either a plot or return of already invested money? Or is there a possibility that eden would develop this project in next 5 years?
Please help, i am talking about only phase 1 of eden residencia at college road.
Thanking you
Hamraza from qatar
Brother,
Not to disappoint you, but Eden's projects have baffled the sentiments of many in the past. Don't lose hope, have faith in ALLAH. I would suggest you to try selling it to realise your money as much as you can.
Hammad,
Do not loose hope bro and join other affectees on facebook to get regular updates and add your voice against this fraud. If your investment was from rizq-e-halal, then it will not go waste, keep faith.
Dear Zain
Realization of money at a discount factor of 0.75 is not a good option particularly after waiting for 3 years now. Do you think if Eden could ever deliver this project or it is no more a possibility? Any update about its current state of development will be appreciated. Thanks, Hammad