Issuance of open registration forms in Fazaia Housing Scheme Karachi

I have been giving updates on Fazaia Housing Scheme Karachi from time to time since the launch of the society. Today, I have managed to unearth an important piece of information, which the stakeholders of Fazaia Housing Scheme Karachi are likely to cherish.
For the convenience of the registered members, Fazaia Housing Scheme Karachi is set to issue open registration forms soon. The developer has not yet unveiled the date when it will start issuing the forms, but according to rumours flying about in the market the process will begin sometime after April 25, 2015. But these are mere rumours, which cannot be relied upon until the developer itself makes an official announcement.

Mr Muhammad Umair of Al-Fateh Associates told Zameen.com that the investors’ confidence in the scheme would be strengthened after the issuance of open registration forms, and the prices of both standard and luxury forms would also increase as a result of this move.

Mr Umair said open membership forms would be traded in the market for 2 months, after which balloting of standard and luxury apartments would take place. The fortunate members who win the ballot would need to make the down payment, and those who do not would be refunded their membership fees – Rs 10,000 for standard and Rs 15,000 for luxury apartments.

Fazaia Housing Scheme Karachi has caught the attention of property investors from across the country, and the extent of this fascination can be gauged from the fact that the membership forms for standard and luxury apartments are being traded in the market at nearly exorbitant rates. While it is difficult to say with certainty what these rates are, given that they are prone to quick fluctuation and variance based on a number of factors, I would estimate at least Rs 30,000 for standard and Rs 40,000 for luxury apartment forms.

Upon completion, the project will feature modern infrastructure with 50% open area to ensure a green and spacious environment to its residents. Furthermore, the society will also boast 24-hour power backup and an efficient security system. After the completion of the project, Pakistan Air Force will continue to administer and manage the society.

That is all for the day. Hopefully, in the next update on the society I will be able to discuss the date of issuance of open membership forms.

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