Peshawar’s developing real estate has offered quite a few new opportunities for both real estate investors and genuine. Regi Model Town, though an old project launched in 1995-96, has turned into one of those project in recent years. Good location opposite Hayatabad has also contributed towards making it attractive for investors and buyers.
Particularly in the last five years, significant development has taken place there so that particularly in Zones III and IV of the project infrastructure has been completely developed and as a result, it has become a major favourite among genuine buyers.
Land acquisition and possession
Zones III and IV are developed and possession is available there, meanwhile Zones I, II and IV still need development and possession isn’t available currently. Land still needs to be acquired in Zone V but, according to Malik Fazal Afridi of Al Mashriq House Property and Builders, the land for Zone I has been acquired. He further explained that some of the land for Zone II has been acquired but the remaining needs to be acquired.
On the question of possession, there is no concrete information at the moment but the experts interviewed expected that it would take at least six months, and at most around 18 months.
Market and prices
The prices of plots vary significantly depending on the location within the same zone and between different zones. However, the prices have been steadily increasing particularly in Zones III and IV, considering the interest these two zones haves generated among genuine buyers:
Property Size
Prices in PKR
Zone I
5 marla
2,800,000-3,200,000
10-marla
5,000,000-5,500,000
1 kanal
7,000,000-8,500,000
Zone II
5 marla
1,700,000-2,200,000
10 marla
3,200,000-3,500,000
1 kanal
5,500,000-6,000,000
Zone III
5 marla
4,300,000-5,000,000
10 marla
7,000,000-9,000,000
1 kanal
11,000,000-13,000,000
Zone IV
5 marla
4,300,000-5,000,000
10 marla
7,000,000-9,000,000
1 kanal
11,000,000-13,000,000
Zone V
5 marla
1,300,000-1,650,000
10 marla
2,000,000-2,200,000
1 kanal
3,000,000-3,500,000
Consideration for buyers
According to M. Hassan Bangash of Bangash Estate Agency, if you are looking for a home or a plot to build a home, Zones III and IV are obviously the options for you.
Meanwhile, Bangash and Afridi disagreed on the best option for investment. Afridi was of the opinion that Zone I and II are the best investment considering that there has been some land acquisition and possession may become available soon. On the other hand, Bangash recommended Zone V because comparing the prices of 1-kanal plot between Zone V and Zone III/IV, there is a huge margin for profit there eventually.
Are you looking to buy a plot in Regi Model Town? Do you have any questions about it? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed discussion.
