Since February this year, Zameen Search Trends for Peshawar started to record an impressive hike in demand for plots in Regi Model Town. The society gained 38 popularity index points to snatch the second position from Hayatabad three months ago.
It took Regi Model Town only two months to beat Defence Housing Authority (DHA) and grab the top position as the most searched society in Peshawar. So what’s the latest addition that has pulled buyers and investors towards this Peshawar Development Authority (PDA) project? This article discusses precisely that.
Project details
The project has faced delays in the past where the landowners, who had sold land to the PDA, claimed to have not received the payment against it. Taking it up as a priority, the authority cleared up the matters and took possession of many parts including Zones I, III, and IV and started development work back in December 2014.
Regi Model Town comprises five zones, Zone I, Zone II, Zone III, Zone IV, and Zone V. It is the biggest housing project of Asia. The society features residential plots in sizes of 5 marlas, 10 marlas, and 1 kanal. Development work in selected parts of the society is underway, while property possession is available only in Zone III and Zone IV.
Location
Regi Model Town is located opposite Hayatabad, where Jamrood Road bisects the two but the society doesn’t yet have an entrance from here. Regi Model Town’s main access road is Nasir Bagh Road, where it has an entry point. The same road heads to DHA’s main entrance.
The project has the planned western route of Peshawar Ring Road (PRA) in its west, which runs along Regi Model Town’s Zone V, while Zone III and IV fall towards the Nasir Bagh Road side. Zones I and II are located on Jamrood Road, from where it is expected to have another entry point.
Not to mention, the society will also have a gate facing the PRA.
Current status
Development work in two out of the five zones hs been almost completed, with very small areas yet to be covered. Here is a brief overview of these zones.
Zone I
It is located on Jamrood Road and considering that that society’s main entrance in on Nasir Bagh Road, it is currently far away from the main area. Development work has been put on hold as talks between the authorities concerned is under to decide if Regi Model Town’s 4.5-kilometre-long part facing Hayatabad on Jamrood Road will get a road access.
Here, roads have been carved out, with only one road leading deep into the zone, while the remaining roads are rather road tracks. No further work has been carried out here. The zone holds a huge potential which is also reflected from its rates, where in the absence of any development work and confirmation on have an entry point on Jamrood Road, rates are still pretty reasonable. Have a look:
| Plot size | Price range in PKR |
| 5 Marla | 2,000,000 – 3,500,000 |
| 10 Marla | 3,500,000 – 4,000,000 |
| 1 Kanal | 5,000,000 – 6,500,000 |
Zone II
Its location is also good due to its proximity to Jamrood Road, but the zone has other reasons why property rates and demand here is low; litigation. The original landowners are waiting to get money against the land they surrendered for Regi Model Town. According to agents, these people are peaceful folks who will not resist vacating the land as soon as they are paid off.
Agents operating in the society believe that the situation can linger on for the next few years, making this zone less than ideal for medium- to short-term investment. Here are the current market rates:
| Plot size | Price range in PKR |
| 5 Marla | 1,200,000 – 1,500,000 |
| 10 Marla | 2,500,000 – 3,500,000 |
| 1 Kanal | 3,300,000 – 4,500,000 |
Zone III
It is the most developed of all zones in the society. Development work here is mostly complete, with work underway at a few sites. Work on these sites is expected to be completed by the next few months. At the moment, over 350 families are living on this zone.
While the developer has left land for amenities such as school, hospitals, and recreational facilities, none is available so far. The zone doesn’t have any transport facilities either. It is expected that the PDA will be able to attend to these needs later towards the end of the year.
Since the zone is the most populated one, rates here are also the highest:
| Plot size | Price range in PKR |
| 5 Marla | 2,600,000 – 3,600,000 |
| 10 Marla | 4,600,000 – 5,600,000 |
| 1 Kanal | 7,000,000 – 9,500,000 |
Zone IV
Development work here has been completed by 85% and work is underway on the remaining parts. The zone is home to over 70 families, with more looking to construct their houses soon. Compared with Zone III, rates in Zone IV are slightly lower, but inching up. Experts believe that the zone is suited more to the end users then genuine buyers. Here is the current rate of residential plots:
| Plot size | Price range in PKR |
| 5 Marla | 2,600,000 – 3,200,000 |
| 10 Marla | 3,300,000 – 5,000,000 |
| 1 Kanal | 6,000,000 – 8,000,000 |
Zone V
It is located opposite DHA Peshawar where the planned western loop of PRA will bisect the two. In terms of investment potential, this zone is believed to the best one as rates here are currently low. Please note that this zone also has litigation issues.
Clearing off the litigation issues and the initiation of PRA’s western loop will greatly benefit this zone. Experts believe that since the loop also benefits DHA, its construction is likely to start soon. But since there is no timeframe available on clearing off the litigation issues and starting construction of the western loop, an investment made here may or may not be long term. The return on investment will nonetheless be huge. Here are the market rates of these plots:
| Plot size | Price range in PKR |
| 5 Marla | 1,000,000 – 1,300,000 |
| 10 Marla | 1,300,000 – 1,800,000 |
| 1 Kanal | 1,800,000 – 2,500,000 |
What’s up with such high demand?
Regi Model Town’s location is ideal as it surrounded by some of city’s most hip developments. But it hasn’t yet received a gas supply connection. The situation is soon expected to change, because the gas pipeline has reached one of the neighbouring housing projects including Askari VI.
It is expected that within the next two months, Regi Model Town will have connections available for gas. This will also pull many genuine buyers and bring along a nice appreciation in rates in the short term. While many are of the view that the scope of short-term investment is shrinking, the limited opportunities investors get are well-received. This is precisely the reason why Regi Model Town is currently the hottest investment option you will find in Peshawar.
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