Citi Housing’s Faisalabad project has not, perhaps, been as popular as its other projects. However, in terms of planning and quality of life promised, at least, it appears to be no less than any of the other projects by Citi Housing. The project second phase had its share of issues as well, though they have been resolved by now. So it bears taking a new look at how things stand in Citi Housing Faisalabad, particularly in its Phase II.
On-ground situation: NOC, Development, and Possession
In our last update on Citi Housing Faisalabad Phase II, several of our sources had mentioned that according to the society administration, the phase has been granted an NOC and development has begun as well. By now, according to Tahir Wahla of MAC Estate & Builders, significant development has taken place and grey structures of a number of housing facilities have been completed.
There are going to be two schools (one for boys, another for girls), to be administered by the Roots School System, a gym, cinema, and the commercial area that will include Citi Mart. The society’s Jamia Mosque has also been under construction. The society also awaits basic utilities like gas, water and WAPDA connections of electricity.
Even more than that, the most awaited news for the phase was that of possession. According to Wahla, possession is now available and people have applied for it. Usman Jutt of UW Real Estate further added that about 250 people had already applied for possession and we can expect the construction of houses to begin then.
According to Wahla, possession has been made available in Blocks A, B, C, D, and some parts of E. For the remaining plots, Citi Housing Faisalabad has offered refund for the plots, or if the owner so wishes, they can be migrated to Phase I Extension of Citi Housing Faisalabad that will be launched by December this year.
Both Wahla and Jutt also expected that the facilities, including the commercial area, will see further development once people begin moving into their new houses.
Price and price trends
The prices are not much different from what they were in January and this pattern of stability is set to continue for now until the construction of houses begins:
|Plot Size||Prices in PKR|
It might interest genuine buyers
With the host of its planned facilities, the project is going to be good for the genuine buyers. It must, however, be kept in mind, as Wahla explained, that Citi Housing is currently focusing on its Multan project and only once the focus turns back to the Faisalabad project, will it be seeing further development.
Jutt also felt that it will take around six to twelve months before we see the matters settle down. So, if you are a genuine buyer interested in Phase II of Citi Housing, you should keep that period in mind for construction of your house.
Are you looking to buying a plot in Citi Housing Society Faisalabad? 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.