I am seeing some ads and promotions about some new plots on 2 years installment plan in gulberg residencia up to sizes 1 kanal which costs total pkr 50 lac.
Does it worth investing for like 3-5 years for good return, and which blocks are these new plots in?
Thanks
Friends, any guidance?
People are waiting since 2008 to get possession of their plots in Gulberg. Its a good deal IF you are buying it for your grandkids.
The way things work in Gulberg, NEVER buy plot WITHOUT possession.
I myself am waiting since 2014 for my possession.
In different questions and discussions, most of the seniors and experts are recommending to go for possession area while buying plot.
Same general rule is applicable, specially in case of Gulberg as lots of people are waiting from almost a decade to get the possession of their plots in Gulberg.
Gulberg’s location is an ideal location. But undeveloped area is not recommended.
In Cooperative Housing Societies (dead slow development pace) money is made in possession plots when construction starts and it's gets populated. Files rarely give that much of a boost unless you have the capacity to hold that for half or sometimes full decade...
Example: Buy developed plot in GR now, compare that in next 3 years with file... All self-explanatory!
MPCHS (B-17) has been an exception though, there people made a lot and lost quite a bit too in files...
If nearness to the capital ought to be the only factor then Jinnah garden, Bilal colony , ghouri town.....so many others equally good.
Problem is IB is only caring GG and dead slow in other parts.
Gulberg still good but wait and wait and wait!
Sir, with due respect there is one hell of a difference compared with Ghouri you cant have even electricity connection in new phases of constructed houses, while Gulberg has own Power Grid! Jinnah Garden probably lost track of how many times NOC got cancelled!!
Even if closest to Faizabad, 2 KM travel inside Ghouri is more pathetic than 10 KM on Expressay!
The problem with Gulberg is continuous land acquisition, the most complex of the variable in the equation!! Much established names share same or worst fate you name it from Ext. to Enclave-2 to KHI to Valley to whatever stalled projects of BT/DH/CDA...
Prime Land Acquisition in almost emerging prime part of ISB isnt an easy deal that too chunks between Naval, OPF, Lehtrar etc.
There is Commercial Worth Billions thats lying unused inside Residencia!! IBECHS wanna cash that at their earliest by developing but yes Land Acquisition (Land Records, Family Disputes, Price Conflicts, Lost Documents, Court Stays etc. etc.) is too much to be managed!
Yes point remains go for possession, no wait, its far better than any of its competitor in the offering! Like you cant compare Safari Valley with Ext. same way possession and speedingly populated blocks inside Residencia cant be compared with underdeveloped ones...
Imtiaz sb
Ghaori town meant only up to phase-7.
Electricity is always there....it is Pakistan...
People made huge sums in the very same town. Mostly Kashmiri community lives there.
Regarding traffic, Bahria phase 1-6 exit through another society is a mess but see bahria success!
IB was total failure in their Pakistan town and in gulberg resudentia, it might perform but nothing on horizon so far but still good to invest in possession plots as in Pindi muhalla abadis, plots costing more than bahria phase-8!
This means in ISB Zone-5, Jinnah Garden, Bilal Colony and Ghaori Town has preference over Pakistan Town, PWD and Soan Garden.
Which blocks in these societies have NOC issues from CDA?
Anwar sb
Jinnah garden and sawan garden have become pathetic as every new elected members proving more currupt than earlier ones.
Pakistan town is ok but IB did not put legitimate resources in their very first scheme, Pakistan town.
Ghouri town is now city inside the city, much populated and rents are also good for residentials and commercials.
Even beyond phase-7, where electricity is not available, people are installing solar panels with whole night battery back ups for LED house illumination.
Electricity is now no problem in anywhere in Pakistan.
Right now I am running my dual Gree Inverter solar heater and in spite of cloudy day, I am getting 500 watts from my solar system.
Thank you AQ sb.
I see your valuable suggestion is to keep Ghouri Town on top when it comes to good rental value for example and them comes Pakistan Town.
Are all phases of Ghouri Town and both blocks of Pakistan Town are with NOC from CDA? Or you suggest some specific blocks/phases in both societies for home or commercial?
Yes, AQ sb, Ghauri Town 1 - 7. Up Till 4 is OK, still no NOC but beyond 4 and specifically 7 is a mess.
Electricity issue is PAK can be resolved by extending cables from one connection to multiple but dedicated metering is the actual issue.
You are right people made huge money in Ghauri but gone are the days with the mess Ghouri is in now!
Residencia is growing, dead slow, much younger than BTs and is not a private project. It will surpass residential parts of BT/DH combined!!
You may screenshot my post :)
Check the number of SAPMs with their plots in GG and D-Markaz!
Muhallah Abadis with Gas, Bijli, Pani will always remain the king!
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I am not sure about exact details of Pakistan Town but that area PWD, Soan, Police Foundation, Pakistan Town etc. may have pathetic residential and commercial infrastructure compared to BT but still trades and sells batter than BT
Imtiaz sb and Anwar sb
Yes gulberg in future will be sure better than ghouri town as ghouri town still has legal issues with CDA as CDA is demanding 2 billion Rs to give it NOC and that seems far away!
I am not promoting GT but I am frequent visitor of GT as my daughter lives there and for family with limited resources, it might be considered. Regarding long wires....in phase-7, houses are having all proper metering with proper Bill's.
But sorry ! If I sounded promoter of GT, I will take back.
My point was only to say that if nearness to capital is the only reason to make money then GT and all other colonies on Islamabad highway must flourish.....
GT town was just a name came in discussion.
Nearest approve how to Islamabad isn’t a priority sir but good returns is - be it on selling or rentals.
For new installment files called employee 4th file there are few things i would like to reply in answer.
First of all gulberg is facing with problems in acquiring land. The land after AA block is near to kahuta city & far away from main islamabad on map.
secondly, lets take example of 5 marla plot file that costs Rs. 17,50,000/- on 4 years installment. To get the file you need to pay the Profit of Rs. 3 lac to 3.5 lacs to IB employee, then you can enter in an agreement with him for the purchase. Furthermore you need to Pay Capital gain tax of Rs. 35,000/- on behalf of IB employee. Secondly IBECHS is giving 5 lacs discount to IB employee. The discount will be from your pocket. So you will have to Pay That 5 lac to IB employee as well.So Out of total cost Rs. 17.50 lacs Plus 3.50 lacs. Total 20 lac, you will have to pay a total of Amount Rs. 8 lac 85 thousands to IB employee in first. This has nothing to take with You & Gulberg Residencia.
Now for Gulberg Residencia, You will pay Down payment of Rs. 3.75 lacs & development charges of Rs. 8.75 lacs to IBECHS. I dont know how IBECHS will deliver you in remaining amount of Rs. 12.50 lacs.
I feel this may become a stuck up file case, or it may take very long tenure to deliver plots or adjustment files etc.
There is one strong point in the favour of such low cost, That is , through Sale of D commercial plots, IBECHS have earned Arround 140 Billion Rupees. May be they want to finance these files with that amount.
Regards,
Humayyun
For gulberg residencia 4th employee file on installment, following point i want to bring in your knowledge.
1. AA block or land after AA block where these files are thought to adjust is far away from main islamabad & comparatively near to kahuta city.
Secondly you will have to give A profit of Rs. 3.50 lacs plus 5 lac discount & 35 thousand capital gain tax to IB employee.
In remaining 12 lacs, i dont know what society will deliver you, or will be able to deliver or not.
But IBECHS has received Rs. 140 bn against sale of D markaz commercial plots. May be they want to finance these files with that amount.
Furthermore people holding 2nd & 3rd employee files are still awaiting for their plots.
@Hummayyun
With limited budget what should be bought in Gullberg, which have high chances of getting possession in 2-3 yrs time.