Hello everyone.
I am planning to buy a one Kanal plot in either M block Phase 5 or T block Phase 8 with the intention of building a house in the near future.
Can anyone advise which area will have its possession handed over sooner? I have read about phase 8 nearing possession phase but what about M block Phase 5?
I am a newbie in property investments and your feedback will be highly appreciated.
Ali
Both possessions are expected in 2016. Even after possession, you would have to wait for at least 1-year so that area can become live able.
Budget would also be important in this decision. M-Block prices are around 100-105 Lacs whereas T-Block prices are much higher. If you can afford T-block price then it would be better than M-block.
Irfan, thank you for your reply.
Do you know if development has even started in M block?
Also the way I am looking at both options is that I am comparing their current price to a 1 kanal plot in Phase 5 which is around 25 million on average. So isn't there more room for price appreciation in M block assuming both would be given possession in 2016.
Your reply would be much appreciated.
ALI
No sir, you can not compare Phase-5 prices with Phase-5 M-block prices straight away. If it is so simple then everybody would have bought plot in M-block at 90-95Lacs. First of all, M-block is segregated from other blocks of Phase-5 & located on the other side of ring road. Secondly, Phase-5 prices reached at 240 Lacs after ten years of possession. Anywhere, u buy whether Phase-7, 8 or M- block, prices after 10 years would be more than 240-Lacs.
Actually, it depends on ur choice & budget where u want to buy. As far as my information is concerned, M-block development has started.
Personally I like Phase 5 M-Block more.