Why top city and faisal town prices is going down day by day?
Dear tahir: what is the reason in your view?
I asked a similar question a few weeks ago, but didn't get much responses.
Faisal town prices was a car crash waiting to happen! They put a huge price tag on faisal town and hoping prices will increase and hoped people would book plots knowing its same person from mpchs through word of mouth. But the truth is, cda is awaiting approval, land has not been acquired, unknown who developers are but assumed its same as mpchs. So why would people pay a silly price when they don't know anything...Prices were bound to drop one day or another. Initial prices will drop big time, but once land is acquired is acquired in 6 months and development starts, cda gives noc - then prices will shoot up in no time! But until then this is how its going to be!
As regards to top city...Let me correct you brother tahir that top city plot prices have not declined. The only prices that may have gone down a little are in block e and f as there were rumours circulating that the new government requested that its too close to the airport so cannot have the land due to security reasons. Therefore, people don't know whats going on in terms of that as top city have revised the plans and have moved block e and f towards where the initial green belt area supposed to be on there plans. Prices in block a and b are still strong as development was going really before ramadan last time i checked (around 3 weeks ago).
I have seen plot are available in market 17 plus in market block c top city. Before it was 2o,21,22 like this. Development is also stoped now a days. Yesterday i heard faisal town got noc and now file is not available and confirm in market. Once again faisal town is going now a days on profit with 50thousand.
Yes you may have seen that block c maybe on 17, but there are many reasons for this. Don't forget development charges for 1 kanal are steep so they may not have been able to keep up with the instalments. As you know the society have a surcharge for delayed instalment so who knows, may not have paid an instalment and hence cheap price for quick sale. I have also noticed this with the odd couple of plots of 10 marla block a also. So i wont be surprised if its same with the rest of blocks. People cant pay instalments so just decide to sell at a profit. also people who are already in profit and have paid development fees to date want a quick sale, so they like to under cut the price, so don't be lulled by the false sense of security that top city prices are dropping! most of them are the same price. as I mentioned, block e and f are lower prices than the whole project, rest of its ok for now, but only allah knows whats going to happen after Ramadan.
As regards to faisal town, yes as far i was aware they did apply to cda for noc when they arranged a meeting to announce faisal town project so assuming they have it now. Just a matter of acquiring land now and prices will start do up and onwards, when development is announced.
Also another interesting point, when i initially invested in top city back in 2006/2007 - they were advertising mumtaz construction company as their developers - that’s the reason why I invested in the first place! But it appears that they are not using them anymore, maybe due to price…I don’t know but when new ceo took over top city, they changed it so im wondering who is currently developing top city? They did advertise that they required reputable developers last year…? Do you know who it is tahir or ihsan or anyone in that matter?
I am worry , what wil be in future. Actually plot are available in market less than what i purchased one month before.. Should i sell it or it wil go further down.?
Why are you worrying now? Top city was never a short term investment, neither are mumtaz city or pechs. Just to correct you majid sir that all the societies near new airport are not short term investments! Once they given possession which will be in 2-3 years then you will see a good return on investment. Regarding pechs since most of its developed, the prices will creep up as its only society that given possession.
My advice would be not to sell yet. Why sell at a loss, yes prices may come down as plot files come up and decline until they give possession, then you will see an increase in price. Don't sell unless you really need the money.
Also note: i have witnessed a few dishonest, dodgy and untrustworthy estate agents guiding people towards the wrong direction. I heard that some agents are advising people to sell at top city, as prices will drop soon, so investors that are scared of loosing money trust these people and decide to sell, but then the agents sell at higher price to the buyer and make 3-5lakhs themselves. So watch who you give your plots to sell. That’s why prices are all over the place at the moment. Ensure you use a trusted, well reputed estate agent!
@majid Dont sell ur plot . Wait till next month. Once construction of kashmir highway started than u will see where prices will go. @ abdul ali Dear there is no issue with block e and f. Civil avaiation acquired more land near block f. Some agents are misguiding people regarding block f . In future block f will be most costly block of that area because its just opposite to airport main entrance gate.
@ch shahid, what impact kashmir highway construction will have on sectors g-13, g-14, g-15? Please elaborate
@ ch shahid, i agree. That's what i thought that block f links to airport entrance, but why is price cheaper than the rest of the society? Is because development has not been touched yet, and agents are making up there own rumours?
@ intern, you can tell by a trusted estate agent when you ask an agent for advice. Some agents will push you towards plots which they deal with as its easier for them make money. Some agents don't deal with the society, but refer you to another agent or will try there best to help. You can tell by which is trusted, as the plots that they deal with - they will really push these plots and highly regard them! An example is pechs, estate agents emphasis that its the closest society to airport which in fact its not! Mumtaz city and top city are the most closest sectors, which the agents will make false information about mumtaz city and top city regardless that prices are increasing but the fact that they deal with pechs they will provide false information just to try to sell you these plots.
Check my post on the best society to invest near new airport in the popular discussed forums - you will find useful info regarding estate agents.
@ intern, obviously kashmir highway will have a huge positive impact on the closest sectors near new airport including top city, g-13, g-14, and g-15 as it will improve road access to the airport. But mostly it will have a huge positive impact on top city and mumtaz city as these are most closest sectors that are reliant on the construction of kashmir highway so once constructed - prices will increase. The whole construction programme is not a big job so will be complete within 6 months, providing they don’t stop and start. as long they develop at a good pace it can be completed fairly quickly.
Abdul ali sb:
You are doing good job. Jazakallah...
Regards
@ abdul ali great contribution brother
So much material in your brain heheh ;)
@ abdul ali Once development started in block f than price will improve within days. Also stay away from block h . Because they are still negotiating with land owners and i m directly involved in it.
Thank you for the praise my respected brothers.
Also thank you ch shahid for the valuable information, I heard something similar but thought it was block f but its block h instead.
@ ch shahid - do you know who the current developers of top city are? I remember they did have an ad in the newspaper requiring reputable construction company last year...So who did they choose as i couldn't make it to the development announcement ceremony? Do you have any idea who the company is?
One question is rising in my mind, let i ask all of you guys... Airport housing society, which consist of 4 phase. Out of 4 phase 3 phase is already developed with all utilities are avaialable and family are living there last more than 10 year... Location wise. Airport society is located juction of g.T road and airport chock(kral chock) which goes to benazir internatinal airport. That airport is hardly 2 km away from airport society. This society touches 3 main road entrace. One from gulzaray quid and other two from g.T road next to gulberg express road. Airport society lie at junction of great location, 3 main entrance, all utilities available,near to benazir international airport, eazy aproach from pindi to islamabad, local transport available, surounding area is populated with many other society but... Here airport society price of 10 marla is not more than 30 lack.. If we compare this society with top city..What can we expect average plot price growth of 10 marla in top city keeping all this fact in mind can be potential to go up..
I have limited knowledge on airport society but as far as im aware, it got developed pretty late, therefore prices can only grow so much. Also i remember its advertisements by star marketing which appeared to be another over marketed scheme. It maybe unknown developers who developed the society, that's why i asked the question of whom the developers of top city are? I.E: mumtaz just across the road - using highly reputable construction company, they have won an award for their work at mumtaz city and look at there extortionate prices...prices are increasing day by day so when comparing societies - Everything needs to be considered.