Gujranwala’s potentially rewarding real estate development has made a comeback with a bang. The investment vibes from Fazaia Housing Scheme appear all good, and it also seems that the project is now ripe to offer returns in the medium term. This article discusses the latest and promising developments from Fazaia Gujranwala.
The project was launched in 2013 and it offered 5-marla 10-marla and 1-kanal plots files on an instalment plan. Initially, files where floated by its private partner. In fact, Fazaia Gujranwala is the developer’s first project launched in partnership with a private firm.
The reception Fazaia received with its launch was splendid as people had great trust on its brand name. This was the perfect situation to make the premium on files inch up. I would rather say that Gujranwala’s real estate was in need of projects like this one to experience the rush of rapid trade of property files.
After the launch of plot files on installments file for the general public, Fazaia launched files for its employees at discounted rates.
In terms of development work, Fazaia Housing Scheme has bounced back, and this time with more energy and a passion to deliver. In order to make it more evident, inauguration of construction work of the mosque was held recently. That came along with the announcement of handing over possession for commercial plots in Falcon Commercial Area.
The developer is also looking to win the confidence of investors, plot owners and property agents. This comes with a promise to hand over possession of plots in Block A in the near future.
National Engineering Services of Pakistan has joined Fazaia Housing Scheme Gujranwala as its development partner. This partnership, along with the fact that construction activity has resumed at the project site after around two years, speaks volume about the society’s bright future and that too in a foreseeable timeframe.
Fazaia Housing Scheme has just recently launched new deals for residential plots on an instalment plan of 2.5 years. The rates mentioned in the new payment plan are higher than the plan shared three years ago, but the best part about the new deal is that these plots will be balloted along with those offered three years ago. Have a look at the payment plan.
|Baloon payment (every sixth month||102,500||175,000||240,000||610,000|
The society announced September 16 as the deadline for dues to be cleared for plots launched under the old booking, with fines on late payments waived off. The fact of the matter is that Fazaia is still accommodating its clients looking to clear any pending instalments.
The ballot for Fazaia Housing Scheme Gujranwala’s plot files is expected to take place within the next few months. In fact, the relaxation given to clear off the late payment is carried out just to smoothen out the ballot process. And to further ensure that the related mechanism is implemented just the way it was planned, Fazaia has taken over the lead management role with no other entity being part of it now.
Fazaia had given a deadline to old customers whose installments had not been paid to date to pay their dues by 14th September and all fines would be waived. The news is that Fazaia is still accommodating late comers.
As for balloting, it is hoped that it will occur within the next 6 months. All issues have also been cleared and now Fazaia Housing Scheme Gujranwala is being handled by Fazaia’s own management, with no third party involvement.
The best part of this whole scenario is that Fazaia Gujranwala plot files can now be transferred from their Lahore office located on Fazaia Housing Scheme Phase I on Raiwind Road. All of this makes the project now ready to offer returns on investment.
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