Dear all,
I want to purchase plot to build a house in g-16/1 or g-16/2 but the prices seems to be inflated. (with an investment of upto rs. 1.5m)
There are also villagers settled with well build houses in g-16/1 & 2
Whether i should buy now or wait for low the prices?
Please suggest !
I don't think so that the prices will lower further as the community develops the prices will go higher.
Regards, Shehryar
Dear shehryar sab,
What about the houses of the villagers? If the plot comes in encroachment... I have visited the site and there are many houses of villagers.
Brother in real estate its always now, there is no word of later in real estate. The prices will dafinetly increase with the passage of time now it is as not developed go for g-16/2 as it is no adjacent to pind kalan.
Dear Muhammad Zubair,
Prices of 1 Kanal plots have increased almost 100% since January 2012. The current trend suggests that the rate of property will go further up in this sector. As of April, the rate of 10 Marla plot in G-16 Islamabad is Rs. 40 lac. Anymore delay means addition of another few lacks in property rate.
About the villagers settled around or in the sector, that area will certainly not become part of the locality or once the development in G-16 would pace up, the illegal occupants will be made to leave. On the plus side, settlement of the villagers is keeping the property rate here under a certain bar. For instance, as compared to property price in G-16, the property rate G-15 is 20 lac higher, presumably because of the absence of illegal settlement.
Zubair, i would recommend you to not delay having a house of your own constructed in Pakistan's most valuable city.
Regards Samra Zulfiqar
Dear brother zubair G 16 prices are stable now not increasing more and may be rates will be stable for next 2 months due to elections and june financial budget. After new government there is a bright chance of increase in prices. Last year society elected new general secretary. General secretary is a key post in cooperative housing schemes and that new person is very active specially in purchase of lands. Encroachment is there in g 16 1 and 2 and it will take time to clear but inshallah it will be clear in some time. I agree with samra that minimum rate difference is 15 to lac between g 15 and g 16 but there are many reasons behind it not only clear land plus gas available in g 15, more then 1000 families are living in g 15 however in g 16 only 4 to 6 houses are under construction. Commercial areas are developed in g 15 direct access from gt road
Similar hike of price was observed in 2007-2008 near elections, when plots jumped a lot within months and 2 years later there was a big dip in price. I know many persons who bought the plots in 2007 at approx 15-20 lacs but later after two years similar plots values were dipped upto 10-11 lac value as well.
So i think, price increase depends a lot upon upcoming government.
In last government first 3 years, there was approx double jump to gold prices, but property value decreased. Lets see how it goes this time with new government.
Yes kashif you are right. Five years before, property rateswere very very high and then market starts tumbling but that was not because of pakistan general elections.
There was historic recession in property worldwide.US property prices plunged to 33 % of it's value.Lot of US and UK banks got bankrupt. UK dropped it's LIBOR rate to 0.25% from 5 % to reduce mortgage rates to support housing industry.
It was not because of pakistan general elections but pak property got affected because of worldwide recession in property industry. Now situation is entirely different.US stock market is touching its peak and property prices are increasing gradually there too.
Thanks all,
Can anyone give me an option for 30x60 or 35x80 plot in g-16/2 that is adjacent to g-16/3 ?
Send me your contact number at 0333-5333 825 or offer here at forum
Dear fahad sab,
Please mention plot number and its demand. Or text me at 0333-5333 825