Details on Fazaia Housing Scheme Sargodha form adjustment and refund

Fazaia Housing Scheme Sargodha launched its forms almost one-and-a-half years ago at a face value of PKR 25,000. Before their launch, these forms were among the most talked-about investments in all major cities of Pakistan and were pre-booked at higher rates. The delay seen in the launch of Fazaia Housing Scheme Sargodha forms spurred ambiguities in the market, as investors were eager to start trading actual forms, due to which their rates dropped before the forms were released in the market.

The market rate of Fazaia Housing Scheme Sargodha forms has seen massive fluctuations. The rate dropped to PKR 8,500 and even spiked to PKR 35,000. However, the trading of these forms never stopped. Soon after their launch, many fake forms also started circulating in the market and that was when the form rate dropped to its lowest value of PKR 8,500. To stop circulation of fake forms, Fazaia Housing Scheme Sargodha took the forms back and offered form verification services in its offices in Lahore, Islamabad, Sargodha and Gujranwala. Due to management’s sincere efforts regarding the addressal of this issue, value of these forms increased. For the most part, however, the rate stayed between PKR 15,000 and PKR 20,000.

Fazaia Housing Scheme Sargodha has now started booking plots and has also announced an adjustment policy. According to the policy, each form will be adjusted at the value of PKR 50,000 in down payment. Three forms will be adjusted in 5-marla, four forms in 7-marla, five forms in 10-marla and seven forms in 1-kanal plots. In this way, the maximum rebate will amount to PKR 175,000 (PKR 25000 x 7 forms). In Sector A, the developer will adjust one form in each instalment at the value of PKR 30,000, giving a rebate of PKR 5,000 per form. In Sector B, two forms will be adjusted in instalments, giving a rebate of PKR 10,000 in one instalment.

Fazaia Housing Scheme Sargodha has announced the last date for form adjustment. All forms that are to be adjusted in plots in the form of down payment and instalments are to be submitted by 30th November 2016, after which no forms will be accepted. So, if you have booked a plot in Fazaia Housing Scheme Sargodha, submit your forms to avail good rebates. Though the instalments will have to be paid quarterly, forms must be submitted by 30th November. The applications for refund will be invited between 5th and 30th December 2016.

So far, there is no information regarding how the form price will be refunded. As and when more details are shared in this regard, I will inform you through a write-up.

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