This question interests many as these housing societies around the recently inaugurated Islamabad International Airport has been a hotbed for investors. For some reasons, investment activity throughout the capital has seen a subtle drop and Zone II is no exception. In such times, some of these localities have managed to retain a portion of investment activity, while others remain idle. The article gives an update on what’s happening here.
If you speak to the agents operating in societies that previously cashed upon their proximity with the new airport, they will tell you that most of the active buyers currently are the genuine buyers.
While that remains true, some investment activity is still being witnessed, but that sticks to the projects which are currently in their prelaunch phase or have plot options available on an instalment plan.
This leaves us with Capital Smart City, B-17 and Islamabad Cooperative Housing Society (ICHS). But ignoring Mumtaz City and Top City-1 would be unfair, as these two projects had the best of their times just when the news about the airport’s launch was confirmed.
Lately, genuine buyers have replaced investors in Top City-1. That could probably be because of the launch of new blocks and deals have put on hold for a while. In the meanwhile, the genuine buyers are seen on the lookout for appropriate options in blocks where property possession has been granted, i.e. Blocks A, B, C, and D.
About the awaited new deals, the delay in approval of maps for Blocks E, F, G and H by the Rawalpindi Development Authority is the reason why the developer has yet not launched plots in these blocks on an instalment plan. Investors and the agents authorised with the society have waiting for the new deal for a while now.
Their anticipation suggests that as soon as the respective approvals are granted and the related details are shared by the developer, we would be able to see a sudden rise in trade volume. Till that happens, investors will lay low.
There is no reason as such for the low investment activity in Mumtaz City, but it has generally been seen that the demand here goes up when things spice up in Top City-1. That also sounds logical because the two societies are located next to each other.
In Mumtaz City, too, the active buyers currently are mostly genuine buyers, who find the market rate suitable for purchasing property. The society’s development standard and the fact that it is much more developed, allows it to get its shared from any rise in investment activity seen in the neighbourhood.
It is expected that ICHS will get direct access to the circular road planned for the airport. In anticipation of this connection, modest investment activity is seen here. That’s in addition to the fact that its Phase II extension also features options available on a payment plan.
The demand here has also been higher for smaller plots. It’s so because investors in dull market conditions often aren’t willing to risk higher stakes.
The Multi Professional Cooperative Housing Society (MPCHS)’s B-17 has been the most active real estate development of the neighbourhood during the last couple of months. The society has effectively managed to hold on to some of the investment activity, where the demand still exists for the new booking launched in Block G some months ago.
It is due to existing demand for smaller plots in Block G that we have premiums on 5-marla and 8-marla residential plots, at PKR 120,000 and PKR 250,000 respectively. In addition to serving investors, the society also enjoys decent demand among genuine buyers, where Blocks A, B and C are more popular among buyers looking to construct their homes soon. Those looking for budget options are seen more interested in Blocks D, E, and F.
Capital Smart City
Due to its developer’s strong market reputation and an unmatched experience of developing high-end real estate developments, Capital Smart City has remained as the best performing housing society of the neighbourhood. That’s especially true when it comes to gauging the consistency in demand.
All of its new deals launched from time to time in the past have been well-received by the investors. Just like rest of its counterparts, demand here has been seen high for smaller plots. With 5-marla plot options sold, investors are now after buying 7-marla and 12-marla plot files.
Our sources believes that the liberty to buy plot files on down payment without being pushed for making the remaining payments according to the payment plan is also the reason why the society continues to perform well in terms of investment activity.
With this quick update on the notable real estate developments around Islamabad International Airport, we hope to have shared the required details with you. If you have feedback on the article or any queries for us, let us know through your comments. And if you wish to speak to an expert about deciding your next investment move, you can talk to Engineer Wasim Afridi of Ocean Estate & Builders at +92-334-910-0864.