Citi Housing launched its Multan chapter!

Buying Property Where to Buy
#1

Citi Housing officially launched the booking for their Multan chapter yesterday. Reportedly, the project has already been approved by the Multan Development Authority, and the developers have claimed that the development work on the project has also been completed — with the plots ready for possession. However, it is important to note that these limited plots are available on a first come, first served basis.

One must not forget that the Citi Housing project has a shady past, given the problems they have faced previously in Gujranwala, Sialkot, Faisalabad and Jhelum.

While I agree that the project’s developers are rich and that their housing societies offer a lot of facilities; you still cannot forget about the many issues faced by the file holders of their previous projects. One might wonder if they are ready to learn from their mistakes and move forward? Citi Housing Multan has even announced that the first 100 booking members will be given possession of their plots on a 50% payment, which will allow the owners to start construction on their properties. This time they are offering plots instead of files, so there's that positive too.

What do you folks think? Will this project be a hit or miss? Or will everything go smoothly this time around?

#2

Thanks for the insights Hasham. Is there any relations between Citi housing owner and Malik Riaz. Forgive my ignorance.

#3

Heard that CH's owner/the guy running the show is MR's son in law or similar sort of relation between the two. Though it needs a double check.

In CH, you can see the pattern that two top guys share same surname as that or MR and rest of the team is retired souls, if not a govt. job than land into BT management!

It's like a Mega Mart (BT) owner presents a gift (CH or MC Sarai Alamgir) to his kid to keep him happy... Also the fact, BT jumps in only once there is a massive land available, otherwise it doesn't give them dividents what they look for. Smaller chunks/projects go to his relatives or cronies to run the show to which MR will not give much attention anyway!

#4

Is that worth Buying? Your description suggest that things sounds positive?

#5

Apologies you may find that slight or actually quite off-topic:

CHs are wanna be BTs. BTs could had been the gold mine of now but habitual MR while digging gold produce enough s*** that keep hitting the fan, only to be cleaned by end buyer.

Regardless of the status, I will never buy Limited Plots with First Come First Serve theory that was sold recently in BT Nawab Shah, and..... rest is a history!

#6

Correct Imtiaz Bhai

#7

I agree with Imtiaz Bhai. I have also heard that the Citi Housing is a project of Malik Riaz’s son-in-law or someone related to him. All I know is that the file holders of the project, in other cities, went through a lot. Given the market situation and their past records, purchasing a plot here might be a decision that needs careful evaluation.

The Return on Investment (ROI) is almost worth the risk. So perhaps it will be a good decision for genuine buyers as they are offering immediate possession. Investors have a lot to gain as well if they are thorough about their investments and keep regular tabs.

#8

Must stay away from this project.

#9

Why to stay away from the project? what are the cons?

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