What is the current status of Park Enclave Islamabad?

Located at a distance of 4 kilometres from Islamabad Club, in the vicinity of Chak Shahzad, Park Enclave is perceived as a worthwhile investment by investors and estate agents alike. Upon completion, the community will feature underground electricity, an efficient gas supply system and many other necessary facilities. Investors are eagerly awaiting completion of the project and it seems like the wait will be over sooner rather than later.

While the project retains its worth, its developmental progress has been slightly slow, leaving investors yearning for the announcement of possession, as well as work to be fully completed.

However, there is good news for Park Enclave investors: the Capital Development Authority (CDA) has claimed that the construction work is not only in progress but also picking up momentum. Moreover, access roads have been completed and the project can be termed as being approximately 60% done.

According to the CDA, the development work will be completed by the end of November or possibly early December and possession will be handed over to the allottees subsequently.

The society features 1-kanal and 2-kanal plots. The prices are reasonably high at the moment, and are steadily increasing. According to Mr Bashir Shah of Capital Property Masters, the sale price of 1-kanal plots in Park Enclave is Rs 22,500,000 and for 2-kanal plots, the average rate is Rs 40,000,000.

These rates are likely to spike once developmental work is complete and possession is handed over to the allottees. Mr Shah also told Zameen.com that the future prospects of the community appear to be promising, although the property market is currently slow in terms of sale-purchase activity.

Slow activity in the locality can be attributed to the fact that Park Enclave is a small community and many people are unwilling to sell their plots because they are anticipating a rise in rates in the near future.

Hence, the slow activity can be seen as a positive sign for the residential community as it means that investors have high hopes.

I personally think that allottees should hold on to their land, at least until possession, in order to make the most of their investment. For those who want to reside there in future, you should know that the community is set to be fully facilitated.

So, this was a brief update on Park Enclave for the day. Rest assured, we are keeping a keen eye on the project and will update you as soon as further information becomes available to us.