Royal Orchard Multan, a project of Habib Rafiq (Pvt) Ltd., is one of the most popular residential projects of Multan and one of the top choices for genuine buyers in the city. While the old blocks have matured and are fully developed, the latest blocks (parts of Block F and Block G) are still going through development, so investors aren’t currently involved in them. This blog updates you on the current situation of the market and development in Royal Orchard.
Development in Blocks F and G
According to Ansari Property Marketing CEO Attique Ansari, the development in Block F and G is ongoing but it has been rather slow. One part of Block F is complete, but the Royal Orchard administration had previously faced some land acquisition issues in other parts of the block. Now they have been resolved and the people previously occupying the land are leaving. So development in that part of the Block F is also going to begin soon. Ansari felt confident that the development there will be completed by the end of 2018.
In Block G, meanwhile, about 30% of the development has been completed and further work is progressing, albeit slowly. Some of the roads have been completed and sewerage lines have reached the block. In the case of Block G as well, Ansari expected the development to be significant by the end of 2018. There is, however, no news of when possession might be expected in this area. In any case, there are about 18 or months of instalments still remaining there for the 10-marla plots that were launched. So they do have time.
State of the market
In our last update on Royal Orchard in May, the market, while stable for the older blocks had seen appreciation in prices for the new blocks. The prices have been relatively stable since then and hover around the same level for all the blocks.
The prices are expected to be stable anyway since the investors no long influence the rates here because of its state of maturity. This was confirmed by Ansari as he explained that a decent number of clients have been taking interest in the project but a majority of them are genuine buyers. The prices currently stand as follows:
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The rates for 10-marla plots in Block G are around the same as the launching price nowadays.
Are you looking to buy property in Royal Orchard? 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 conversation.
Some of the information included in this blog was sourced from Ansari Property Marketing CEO Attique Ansari. You can contact him at 0300-8630741 for more details.