Possession Alert: Sector B-17 and Residencia & Orchards of MPCHS

The official website of Multi Professional Cooperative Housing Society (MPCHS) states that Sector B-17, Multi Gardens and Residencia & Orchards Scheme are all set for possession. The allottees were required to clear their outstanding dues by August 31, 2014 to take No-Demand Certificate (NDC) from the authority and to get possession of their plots.

Political demonstrations in Islamabad are so far keeping the MPCHS from conducting an official ceremony to announce the transfer of possession to the allottees.

Current status of Residencia & Orchards Scheme

Residencia & Orchards Scheme is more of a farmhouse development, featuring plots of comparatively bigger sizes. However, there are a few smaller plots in A and B blocks of the scheme. Development is almost complete in Residencia & Orchards, with road networks, footpaths and streetlights up and running.

Though the scheme is located on the outskirts of Islamabad, the fact that it can be approached through the motorway makes the distance no big hassle. Roughly speaking, a 5-kanal plot in Residencia & Orchards goes for between Rs 7.5 million to 9 million, according to Mr Zohaib from Estate Options. He also told Zameen.com that investors can expect to witness a reasonable gain in property values in this scheme in a period of six to nine months.

Current status of Sector B-17

The delay in development of Margalla Road has become a thorn in the side for Sector B-17 because until the road is built, the commute to B-17 from the Federal Capital’s centre is 30-35 minutes by car. Once the road is built, however, Sector B-17 can be reached in 15 minutes.

Blocks A, C, D, and E of the sector are partially developed, while block B is fully developed. Full possession of properties has been delivered in blocks A and B, while in block C, possession has been handed over only partially and the situation in block D is not yet clear.

Prices of properties in Sector B-17 vary from block to block. However, according to Mr Yasir from Manahil Estate, a 1-kanal plot in the sector ranges between Rs 5 million to Rs 7.5 million depending on location and block.