Bahria Town’s Jinnah Commercial Avenue Karachi was announced only a week ago and all the registration forms issued for the project were sold out within two days of their issuance. We have scarcely seen such a passionate display of investors’ trust and interest in a real estate project in Pakistan before.
In a print advertisement published in national dailies on Friday, Bahria Town announced that it would not issue any more forms for the project and accept the already issued ones only. The ad also read that the last date of submitting the registration forms was May 25, 2015 – which is today. These registration forms can be submitted at selected offices of Bahria Town. Please note that only the registered applicants will be able to proceed with the booking process once the project is launched.
The registration fee is PKR 100,000, which comprises a processing fee of PKR 10,000 plus an instalment credit plan of PKP 90,000.
The print advert is also loaded with good news for the applicants:
- Applicants who have paid the registration fees and are successful in the balloting process will submit their booking forms at the time of the project’s launch making them eligible to get a discount of PKR 2,000,000 (including in it the registration fee), which would be adjusted in their second instalment.
- The applicants who have paid the registration fee but did not get lucky in the balloting process would also have a surprise waiting; they can submit their booking form to get a sum of PKR 300,000 adjusted in selected projects of Bahria Town, Karachi.
- The registration fee will be refunded, per Bahria Town’s policy, to the applicants who will not book their property on the launch of project.
The commercial property along the 400-foot wide Jinnah Avenue Commercial with 18 lanes, similar to Dubai’s Sheikh Zayed Road, is ready for possession according to the advert. We will keep you posted as and when we find out more about the project, so stay tuned.
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