F-17’s Telegraph & Telephone Employees Cooperative Housing Society (T&T ECHS) was registered in 1981, making it one of the oldest societies in the capital city. It has a location that should attract a good amount of interest from the public, but that has not been the case.
The main problem has been the many issues, including mismanagement and corruption, which have hindered development work here. However, the management re-elected during 2017 seems motivated to change things around.
An offer they can’t refuse?
People who had invested in the society stopped paying their instalments. To fix this situation, the management floated a Ramazan offer to those who haven’t paid their remaining instalments yet. To persuade members, a 10% reduction is being offered on the complete payment of outstanding dues. For senior citizens, i.e. people aged 60 years or more, the reduction is 15%.
The management has also intimated owners that after the month of Ramazan, if the instalments still haven’t been cleared, the management will impose a 10% fine, as per rules of the society.
Past hurdles
In 2011, the then management of the society was accused of financial irregularities to the tune of PKR 300 million. The Islamabad deputy commissioner issued a show-cause notice to the management. Moreover, plot owners had many complaints, and allegedly, there were gross violations of the society’s rules. Apparently, society funds were invested in short and long-term ventures without any bank guarantee.
Even after assurances that the recoverable funds would be returned in six months, they were not and the society ran into severe financial problems, which in turn caused development work to suffer. Due to all these managerial issues, the possession was also delayed by a considerably long time.
New developments
The Ramazan offer is just one part of the story. Development work on buildings and homes is also underway in the locality. In addition, the boundary wall for the project is almost complete.
We reached out to the management and were told that the society has already taken a turn for the better. An official from T&T ECHS said that possession of more than 1,000 plots has been given, and as soon as the remaining people make their payments, the rest of the plots would be handed over as well.
Future of T&T ECHS
The society offers 200- to 500-yard2 plots, which come equipped with electricity, gas and water. Given its location, if the issues relating to non-payment of instalments are resolved, the society could become a good spot for investment.
The society is close to the new Islamabad airport and is just a five-minute drive from the National Highway (N5), while the Tarnol Interchange on the Motorway (M1) is also nearby. Property value here could really shoot up in the future because of its location.
As development work has already started, things may soon change for the society. What do you all think; is this a place you would like to invest in? Talk to me in the comments section below.
Related News
i have purchased my plot in 2015 in size 30×60. mostly 1 kanal plots are developed and remaining 30*60. Its look like bright future of the T&T if they developed all 30×60 plots in 2017.
The future of T&T looks brighter if they developed all 30×60 plots within 1 year.
What is the property price in T&T ECHS.
what are the current rates
Is ‘TELEGARDEN’ and ‘T&T ECHS’ the same scheme, because the picture is showing Telegarden while the article is all about T&T ECHS. Your input is highly appreciated.
‘Telegardens’ is the combined name of T&T ECHS and Multi Professional Cooperative Housing Society. They are located side by side. Although the two societies share the same entrance with Telegardens written over it, their operations are managed separately.