Central Board of Revenue Employees Cooperative Housing Scheme (CBRECHS), more commonly known as CBR Town Islamabad, is one of the most up and coming neighbourhoods in Islamabad. The housing society is located in Islamabad’s Zone 5 and is definitely going to be a shining addition to the real estate market of the city. The housing society comprises of two phases and is quite a popular area, so here is a complete guide for you!
According to Mahroof Qureshi from UK Estate and Builders, buying and selling has increased monumentally in the society over the last year. He attributes these price hikes to the extensive development that is taking place in the area. While talking about the society’s development, he added that good management is what is needed to maintain the prestige of the area, and that CBR has done this right! He strongly attributes the rising success and name of CBR Town to the good management of the team behind the town and their continuously striving for excellence in every facet of the project.
Mahroof Qureshi’s opinions on development were shared by M. Yasar from Prime Land Real Estate Consultant and Shakoor Iqbal Khan from Pak Land Services and Real Estate. Both of these real estate experts believe that the management team of CBR Town has always been on top of things, and has thus ensured that everything goes smoothly without any delays. They believe that with such commitment and dedication, any housing society is bound to be a success.
Mahroof Qureshi and Shakoor Iqbal added that Phase I is completely developed; from main roads, to streets, street lights, park, and commercial areas; all have been completed. On the other hand, Phase II hasn’t seen much development yet. However, because of the presence of the same management and development plan, it is expected that soon this phase too will see unprecedented development.
M .Yasar further added that a proper sewerage system has been placed, along with provision of electricity, water, and gas. In Phase II, main roads have been constructed, along with the smaller streets. Some houses are also being constructed in blocks that have handed over possession (A-E). However, this phase isn’t developed as much as Phase I.
Phase I offers possession in all of its three blocks; B, C, and D. A lot of families reside in this phase, as pointed out by all three experts. They believe that another factor contributing to the increased interest in CBR Town Phase I is the availability of immediate possession.
Phase II, as pointed out by Mahroof Qureshi and Shakoor Iqbal Khan doesn’t fully offer possession as of yet. Shakoor Iqbal added that Phase II has 12 blocks, out of which possession is only available in five blocks from A-E. M. Yasar further added that plot files are available in the remaining blocks and with increased buying activity, soon possession will be given for these blocks as well.
All three experts agreed that prices have significantly gone up in the last year. Mahroof Qureshi and Shakoor Iqbal Khan have observed a 50% increase, whereas, M. Yasar has observed a 10%-15% increase.
M. Yasar went further in to specify the most preferred plots sizes for genuine buyers and investors. He labelled the plots sized 40×80 feet and 30×60 feet as the most ideal in the residential category, and 30×40 feet as the most popular.
Shakoor Iqbal highlighted that most of the genuine buyers are interested in buying in this area, while on the other hand, very few investors are seen here. This is primarily because of a slow market, in which the prices had gone down, giving an incentive to the genuine buyers to buy. He further expects that soon the prices will further increase, especially in Phase II, the market for which hasn’t become saturated as of yet.
He is optimistic, as are other real estate experts, that the market for CBR Town will only go up from here, with another 50% increase in prices in the next year.
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