Dear learned investors,
I am exploring the investment prospects of fgehf apartments in g-13/1. It appears very attractive based on following points:
1. Cost of 2 bedroom apartment is rs 4.3 (900 sqft) & 5.0 (1100 sqft) million only in the heart of islamabad zone-1 with more relaxed 5-year payment plan as compared to al ghurair giga which is near rawat & costs around rs. 6.3 million.
2. Payment plan: 10% dp, 1.5% each next 3- qtr., 4th qtr. 10%, 1.5% each next 3-qtr., 8th qtr. 15%, 1.5% each next 3-qtr., 12th qtr. 15%, 1.5% each next 3-qtr. 16th qtr. 20%, 1.5% each next 3-qtr, possession 7%.
3. It is located near kashmir highway in g-13/1 which is almost developed and a sizable population is living there.
4. It is in close proximity to nust university, new isb airpirt, quaid-e-azam hospital etc. Which can be important in future demand perspective.
5. Average cost of 2 bedroom apartment in e-11, f-11 is 11-15 million.
6. Unlike pha apartments this project contains all modern amenities (fitness club, mini-shopping complex, gated security system, backup generators and high speed elevators, movie theater, day care center, park/green area/parlor/saloon etc).
7. I could not find any info on covered parking and this could be one of the cons.
I would solicit your honest views on the prospects of the project and the investment case. Can it be a good investment-option in the declining real estate/plots market in isb/rwp? Thanks in advance.
Best regards,
Nirvana
This project is shelved due to poor response.
Thank you Saadi Sb.
Poor demand from general public or Govt employees who will be allotted 75% of the apartments? will the project be delayed?
Actually I visited Property Expo today and the marketing guy from ICON property was very optimistic about the project. If it is shelved than why are they marketing it?
It does look very economical considering the rates in surroundings? Do you think rates will come down further?
BR/Nirvana
Sir low paid government employees are not interested…My father is at a very key post in govt org and has very close links in housing and we know its response very well…For the last 5 years they are unable to book it…All the employees are going for plot in bharakahu fgehf scheme…Stay away from icon cheaters…
@ Nirvana .I think covered Parking has been catered for in the basement and its not included in the total covered area. You have to confirm it with the EHF-PRO the joint partners whose office is at the construction site. CDA has not yet given NOC for the Project . So it is delayed, you should wait for the NOC before Jumping in i suggest.
Thank You Saadi & Qureshi sb. As I gather from the conversation, project location, cost and theme are sound but response from Govt. Employees is not appropriate? Though it is really tempting as with the passage of time there may be upward revision in price for General Public, I might as well delay my investment till better news/NOC.
They belong to late Governor Salman Taseer Sons in collaboration with PHA, this project is on stand still from last 4 years, should not invest.
I mean must not invest.
Thank you Nasir sb for your candid feedback. This opens a new dimension as I thought its just the poor response of Govt. Employees who are plot savvy. Just wondering how the counter-party risk should be high here with FGEHF being the primary sponsor(a govt. Organization)? Thanks for the help.
There was a news yesterday that CDA is going ahead with this project and NOC is expected soon. Need your advice if the investment case has improved after the recent development. Thanks alot
Do not even think if investing in this project, please