I went for a plot in cbr phase-ii residencia block about an year ago.
There did two launches in about an year,
A- 15 lac for 5 marla
B- 16+ lac for 5 marla with out development charges
But the funny thing is all dues clear file is available in 7.5 lacs even with plot number.
They recently launched cbr overseas block at the place where earlier the residencia block billboard was located.
For all those who want to invest in residencia be-aware and even be cautious of cbr-ii society. Try to buy partially developed or possession plots.
True, as there are multiple types in Market
Post below not on plus/minus of CBR, that can be left for some other thread but primarily on those 3 types, as per sources and basic know how:
-- Type 1: Total Price 15 lac launched about 1.5 ago (Booking Closed May-Jun 2018), claim they have land acquired for that and ballotted May 2019 and on Installments (Allotment Letters Issued with Plot Number, Street, Block, Category, Tentative Map, etc.)
-- Type 2: Next launch was about Mar 2019 with 5 Marla for 16+, I guess yet to be balloted, more like unofficial extension of earlier ballotted.
-- Type 3: Most interesting, when CBR acquired land, for each 4 Kanal (undeveloped) acquired from Owners, Owners were handed over file of 1 Kanal developed (sometimes as chunk of 5 Marla) by CBR having 'Against Land' written on that. Under Cooperative Housing By Laws, its a pledge by Developer that no matter what happens that Against Land File/Document/Paper must be honoured by providing land (as its land already exist on ground and is acquired from owner to be developed by society)
Current Situation:
--- Society only sells the ones on 16 lac booking
--- Owners started selling those about 2 years ago for 5 lac +/- that kept fluctuating and now goes from 7.5+ to 10.0. It gets transfer from CBR office
--- Allotment letter with ballotted ones that comes from CBR mentions Serial Number in continuation from previous blocks and with details mentioned above.
The ones against land and with number are ok and theoretically safe, rest its Pakistan and no one knows. CBR 1 has been quite a success, 2 has 5 possessed blocks and they intend the launch of 3 somewhere around Chakri or Rawat. So, if they mess up any stuff a disaster and suicidal for a brand that could do more based on Phase 1 success and partially developed 2.
Their Prime block looked shady about six months ago and people were paying premiums of about 1.75 to 2 lacs (55% to 66%+) on 3 lac of booking that went into negative for quite some time. Since then, they have just initiated the development work. Hype, Reality, Rumors, Potential, Risk, Anticipation etc. will ping pong between Prime, Residencia, Overseas Block.
A wild guess/assumption is that they may merge Residencia/Overseas as the Overseas anticipated location is almost there where Residencia land exists. So it may be that part of Residencia being named as Overseas just to create a Hype and a Normal Practices these days by these housing projects to attract the Overseas (since USD-PKR parity is stable) and Overseas may start investing again.
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Rest, yes ensure safe investment, go for possession, lower investment files are ok but double check land acquired and the ones that are ballotted are somehow a better bet, though not the 100% like possession one.
*** DISCLAIMER: To be clear, I do have investment in CBR: Residencia, Prime, etc. so there may be an element of bias in the post above, though I tried to be fair (as much as I could). Interpretations up to the reader.
I have the unapproved map of residencia and based on that i visited the place. Its about 2 km away from Thalian interchange towards chakeri road/South East adjacent to Gulshana-e-Bahar. There were some signs of initial leveling and some private guards. The place is almost leveled and will take very less development time. There is no proper road till that place and that will be a big future problem.
The location of Overseas block is on the Girja road about 2 Km short of Thalian interchange.
The distance between entrance of Overseas block and Residencia is about 3 km so i doubt that CBR have so much land with them to merge both blocks
The merging meant a rename, that too no certain but a wild guess/assumption. Residencia stuff has been sold for about 1.5 years now, under current circumstances not a bad idea to rename part of that as Overseas to create a hype - an emerging trend now a days.
Rest, societies sometimes only able to buy land in pockets so apparent distance of entrances may be in KM but in the name of different access routes, easy enough to unify different access that at some point intersects to a singular main boulevard.
Anyways, that's just a theory at the moment, nothing more. Point remains, wherever one goes Possession stuff carries minimal to no risk but for Cooperative Housing Societies ballotted stuff is a safe bet too.
2 years back when I visited that place there is only A, B, C, D blocks and there was the vioce that they will launch Overseas Block at that time the price was 12.5 lacs for 5 marla.
I have decided not to go for CBR-2 and opted for an option in FOECHS by taking 5 marla double road plot in 15 lacs.
Allah knows thae best but the rule of thumb should be take the possesion property to aviod the high risks.
Regards,
Khalid
Finally development started in CBR Residencia. Although the RRR route will finish before Thalian interchange. Lets see how things go on onwards. It seems that if development pace maintained then 1-2 will make many things tangible on ground.
Is there any development on Prime Block? Is it part of CBR phase II or separate project?
What is the time line for possession in prime block?
CBR2 have the probability to give best gains if RRR project kicks off and on the way on completion.
It will become one of the projects having super good access from Thalian Interchange.
Pace of development is not satisfactory and the society do not have ample recourses to work in parallel on multiple blocks.
Its a Small Investment Modest Gain Stuff, well if you buy for 10 lac and after lets say 2 to 4 years it becomes 20, a gain of 10 as a number may sound modest but statistically that doubles the investment.
- As per info, Prime Block all land has been acquired and development work did started some 6 odd months back.
- Residencia Work just kicked off and main focus is on its Access from Girja/Thalian. This block is the supposed Gateway from Thalian side to the CBR-Phase 2. Its sort of a necessity for the society.
Ground Reality, you can get a balloted plot with number (against land) in range of 7+ to 8 with all dues clear. That pretty much around the amount dealers ask as just the Profit for 25x50 files. Dont expect fast paced development as development will be at best be on slower end and development focus will Ping Pong between Prime and Residencia etc. Again Advice is possession property over files. If one has to go for file anyways, at-least try for balloted one (minimizes some good amount of risk).
With whatever goods or bads of CBR-2 or Residencia/Prime. RRR should be discounted and even if materialised may not help as big as it will the projects on Chakri Road side. The selling point of CBR-2 is not just RRR as dealer will tell you 9/10 times, it realistically is Adjacent to I-series sectors and low cost housing! From I-14 to CBR-2, there is a trail of 4 connected CDA sectors and 4 to 6 private Housing Societies (surprisingly all RDA approved with NOC) in that proximity and that may help it more than the RRR thing!
