I-16 one locality that has been gaining momentum recently. A lot of debate and discussion surrounds I-16, but should it pique your interest?<\/p>\n
The sector was launched some time ago, but there has been little to no development since. Recently, the sector was cleansed of land encroachments by the Capital Development Authority (CDA). This is a good sign for the sector\u2019s future.<\/p>\n
Development and construction<\/strong><\/p>\n According to Usman Ahmed from Pak Hamza Property, after the illegal encroachments were removed, demand for property in the locality went up.<\/p>\n He is of the view that such actions have restored faith in the sector and people have realised that their investment here would be safe and secure.<\/p>\n Muhammad Khaqan from Capital Home Estate and Builders, agreed and added that people are now more interested than ever before to invest here.<\/p>\n However, when asked about the development status of the sector, Khaqan was less optimistic than Ahmed. According to Khaqan, more attention is being paid to the construction of apartments in the sector, as compared to the infrastructural development in the area where plots (residential and commercial) are located. Khaqan attributes this to an increased demand for plots in Islamabad.<\/p>\n He added that since apartments have an unprecedentedly high demand, developers have decided to have these constructed and sold first. The developers are then expected to develop the area where plots are situated. However, despite this, I-16 plots have grabbed the attention of most buyers and investors, and prices there have increased in the last few months.<\/p>\n Ahmed added that 40-foot wide main roads have been constructed, giving properties located close by a price boost.<\/p>\n Property prices<\/strong><\/p>\n There are two sizes of plots available, 25×50 feet (5-marla) and 30×60 feet (7-marla). Here, plot sizes are measured in feet, so for this blog we\u2019ll be using the measurements 25×50 for 5-marla plots, and 30×60 for 7-marla plots.<\/p>\n Ahmed has observed that more people are interested in buying in I-16\/2 and I-16\/4, primarily because of the construction of main roads and streets in these sectors, as compared to other blocks. The prices of both vary from sector to sector.<\/p>\n I-16\/4 I-16\/2<\/strong><\/p>\n Ahmed quotes the price of a 25×50 feet plot at PKR 3,600,000-4,200,000, while Khaqan states that the value is PKR 4,500,000 for levelled plots, while plots that are deeper than the surrounding area cost between PKR 3,500,000- PKR 4,000,000.<\/p>\n A 30×60 feet plot costs PKR 4,300,000- PKR 5,500,000 according to Ahmed. Khaqan states that this price can go upwards of PKR 6,000,000 if it\u2019s a levelled plot in a good location, preferably close to the main road. Otherwise, a standard 30×60 feet plot costs PKR 4,000,000.<\/p>\n
\n<\/strong>According to Ahmed, a 25×50 plot costs between PKR 3,400,000 to PKR 3,800,000. Khaqan quotes the same plot costing between PKR 3,300,000 and PKR 3,500,000 if it is levelled land (a plot that is at the same level as the main road and not requiring artificial filling). For plots with depressions (requiring filling before construction), prices range between PKR 2,700,000 and PKR 2,800,000.<\/p>\n