The New Islamabad International Airport is one of the biggest developments that the capital city has seen of late. It has had a deep impact on the real estate market in the city; price hikes in nearby areas have been noted by many, just like the looming threat of land being overtaken for its expansions has made itself obvious. Our impact series will look at different housing societies in the vicinity in terms of how they will be affected by the new airport.
Islamabad is one of the major cities that saw serious problems after last year’s tax regime hit. However, projects in the vicinity of the new airport have been doing well of late. If you look at the real estate activity in the rest of the city, and compare it with the current situation in these project, you will notice a stark difference. This article will be focusing attention on Faisal Town, a small project that has benefited from airport induced price escalations.
Faisal Town, a project of Zedem International, occupies a good spot on the Rawalpindi-Kohat Road, also known as the Fateh Jang Road. The society is just a few kilometres away from Tarnol Interchange on the Islamabad-Peshawar Motorway (M-1). It is one of the most promising housing societies of the neighbourhood as it has all the required no objective certificates (NOCs) from all concerned departments, including the Rawalpindi Development Authority (RDA).
Despite its small size, Faisal Town’s developer has ensured the provision of many facilities and amenities that would be needed by the residents. It features underground electrification, three full-fledged parks and a mini lake. In addition to that, ample space has been reserved for schools, colleges, hotels and commercial plots.
At the moment, it has two blocks, i.e. Blocks A and B, where investors can acquire 8-, 10-, and 14-marla plots. For people looking for slightly bigger property, 1-kanal options are also available.
Development status
Block A is completely developed, and possession was given to owners around five months ago. And development work in Block B is currently ongoing at a satisfactory speed.
Around 150 houses are under construction in Block A at the moment. Many of these units will be ready for inhabitants in the coming few months. Many of these houses are being built by individual owners, which also means that the society will be inhibited soon.
Looking at the pace of ongoing development work in Block B, the developer will be in a position to offer possession by the time the airport becomes functional in August this year.
Current rates
Property rates in Faisal Town have been increasing constantly since the last four months. The announcement of the airport’s inauguration date caused property rates to shoot up by 25%.
Have a look at the current prices:
| Plot Size | Price Range |
| 8 marla (30×60) | PKR 3,200,000 – PKR 4,500,000 |
| 10 marla (35×70) | PKR 4,000,000 – PKR 5,500,000 |
| 14 marla (40×80) | PKR 5,500,000 – PKR 6,500,000 |
| 1 kanal (50×90) | PKR 6,000,000 – PKR 7,500,000 |
Is it in the danger zone?
Faisal Town has little chance of finding itself in trouble because of its proximity to the airport. While it is in the same area, it does not fall into an area that may be needed for future airport expansions.
This is something that has worried many investors, as the Senate itself has highlighted even societies with valid NOCs in the past, for being too close to the airport. I would be surprised if Faisal Town’s NOC is cancelled for expansions, however, since it most certainly is not in the eye of the fire.
What to expect?
Considering how prices for different projects near the airport have been travelling upwards, property rates in Faisal Town are still reasonable.
Real estate experts believe that these price hikes won’t stop even after the facility is inaugurated, and price appreciation here will continue for the next five years. This projection applies to Faisal Town as well.
The society can attract short-term investors as well since it promises decent price appreciation in the next six months. Block B’s possession is yet to be offered, and rates of plots in this block can increase by a decent margin. Combine this with the launch of the new airport and we have a tempting 40% figure.
What do you people think about Faisal Town. Does it tickle your fancy? Are there other projects you would rather invest in? Let me know in the comments section below!
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We notice lot of false ad on the website.
When we telephone such Property Dealers, to inquire the plot number of block, they just say oh no that property was sold out and we have other properties in the same area or block. When we inquire the price of the referred property then they quote quite high prices versus they had quoted in their post.
It happen frequently with some of the Property Dealers from Islamabad.
Please implement automated scrutiny system to help us avoiding our time wastage.
Regards,
What is the status of Top City 1?
We learnt there are some issues and that society is facing some legal issues?
Please update.
sir
plz tell me about ISLAMABAD CORPORATIVE SOCIETY ,it is good in future or not.
plz reply
Kindly write something about progress in PECHS and impact on it being in the vicinity of new airport.
Kindly write something on progress of PECHS and impact on it being in the vicinity of new airport.
Dear Samra,
Asslam-o-Alaikum WR WB
Can you please provide the source of the map above you have shown as future expansion of NIIA.
Also can you please comment on the fate of Top City 1 especially Block-D as my family has couple of residential plots in Block-D.
Thanks and Regards
Sajjad Ahmed
Dear Samra,
Asslam-o-Alaikum WR WB
Can you please provide the source of the map above you have shown as future expansion of NIIA.
Also can you please comment on the fate of Top City 1 especially Block-D as my family has couple of residential plots in Block-D.
Thanks and Regards
Sajjad Ahmed
The image is photoshopped and not real. The real master plan (model):
http:// almadinaestate. com/wp-content/uploads/2017/03/NIIA-Third-Runway-locationc.jpg
It is clearly showing the third runway parallel to the current runways but on the opposite side of the terminal. Runways have to be at least 750m apart to have simultaneous flights. The main criticism of second runway was exactly this thus the third runway is being constructed early. Originally it was planned to be built after 2025.
Only a small portion of Top City Blocks E & F is affected. One can also go on site to see the demarcated area. CAA has marked it. All other “news” is false.
I wish Faisal Town was a man and I could strangle him to death. This one lousy project has ruined B-17 potential and my plot worth is way down than what I expected there.
Please elaborate… I would like to know more about it.
Dear Samra,
I always thought that Females are less prone to corruption; but I think the YELLOW JOURNALISM is at its peak in Pakistan now a days.
It is obvious that Faisal Town management paid you handsome amount to put this fake diagram of NIIA in your blog and write a blog about so called good potential of Faisal Town.
Its a shame that this is 2nd blog to strengthen the rumors about Top City 1 and both blogs are published on zameen.com.
Someone at Zameen.com should look into this and see that corruption penetrating in this organization is curtailed, otherwise the trust zameen.com has built in the minds of people during last decade is being hurt by such scandalous blogs.
So its the image that made you judge me so quickly.
Let me change it. The image has nothing to do with the blog.
Dear Samra.
Whilen doing good marketing for Faisal Town you have tried to sow seeds of doubt on soscities nearer to the new airport. This is unfair and I suggest that your blog be checked by the editors before publishing.
Sajjad,
Although, Zameen.com’s revenue do come from these developer/dealer network. I think it’s unfair to criticize Ms. Zulfiqar. I think she writes most balanced, informed and relative blogs compared to others.
Well, let’s just say that Faisal town success came at the expense of B-17.
Dear Samra sahiba:
Excellent write up on FT. However, don’t know some of my brothers are against you whereas I did not get any feeling in your write up that its against some other good residential societies including TC. God bless us. regards
Dear Samra Sahiba:
Excellent effort. FT is very potential society and in fact its very young but construction work is going very fast and will be populated very fast. Rate will be very high soon when people will start to live here after one or two years. Don’t know why other brothers are against you whereas you did not touch (positive or negative) to other surrounding societies. Best regards
Paid blogs/articles, that what Zameen.com is these days.
Pay them a handsome amount and they will help your escalate what otherwise has no prospects.
There is nothing like taking care of actual buyers/sellers, its only a forum to induce masses to whatever “masters” wish for.
sir
plz tell me about ISLAMABAD CORPORATIVE SOCIETY near new islamabad airport.
its good in future or not
I do not think Faisal Town succeeded at the expense of B-17. Both have different locations, different developers. Only one man Ch Majeed cannot utilize B-17 resources in FT. FT has succeeded because of location and development standards as apparent in A block.
Faisal Town is around 8 kilometers away from the new airport, and based on this fact, this housing scheme cannot be plucked and pitched in the proximity of new airport.
The Rates that have been mentioned are also higher, even higher the prized Top City 1 despite the fact, that near the new airport, only Top city is the most sought after housing scheme. Top City is located near to the entry gate of new airport.
The property blogs mostly are meant to attract the overseas targets because the locals are well aware of the core facts about these schemes. These housing schemers tend to rely more on the advertising, lobbying and marketing instead of quality, transparency and services.
Those who would invest in the Faisal Town, would therefore cry sometimes later.
Please tell me the status of Shalimar Town a project of Shelter & Shelter Pvt Ltd.
Can you please let me know the current prices in Shalimar Town a project of Shelter & Shelter Pvt. Ltd.
No doubt a Handsome project of ZEDEM International… has benefited its investors alot.. praying for its success..
No doubt.. Great project.. has benefited me and more like me.. Praying for its success