Can any1 update on FR status atnow? Any news regarding noc, development or market rumours.
No News so far. Development work had to start by end of February and its almost mid of November right now and still neither signs of Development nor NOC. Also company new Faisal hills files are being sold at Minus 80 thousand which means it will take a good while to go for the Balloting of Faisal Hills Plots.
I think company will go for balloting of Faisal Hills files because it will generate revenue from there and then they will use that money in development of Faisal Residencia.... So Stick around
May be Gurus over here can comment please any chances of development to kickoff in near future. Also what is status for plot files currently
There are different rumours regarding development work. Some people are saying it will start in December but its not an authentic news.
Any update on FR? Anyone in contact with a reliable source? Any news regarding their NOC?
Thanks!
Well.... No one really knows when the development will start... But as the balloting of Faisal Hills is nearing you can expect the announcement of the dates of development work of Faisal Residencia too on the balloting day.
Balloting date of Faisal Hills is 24th of February 2018.
I visited the area neat Tarnol, E-16, and had a look on Fisail Residence area as well, there is no development yet and I think society is still buying land from local villagers, and I think land is the main issue of no development, on the other hand, prices are amazingly higher and I would say risky for short term investors.
Faisal Town Vs. F-17 vs B-17
Although management is same but Which one of these is better?
F-17 (developed society with amenities)
Faisal,
B-17 is also fully developed with possessions available. Can you share details why you prefer F-17?
There are many valid reasons,
B-17
illegal quarrying activity - a lot of sound and dust pollution.
B-17 (A & D) isn't developed so far
Access issue to Islamabad
F-17
easy access
Electricity, Gas, water, telecommunication services available
proper gated society with actual walls
Hi,
Anybody got the valid news for development launch for Faisal Residencia. Its long awaited but no authentic news arrived yet only dealers based fake news.
Gurus here please help over this, whether to retain investment in FR or pull out of it because of delayed development.
Multi has strong network of dealers who are very good at market gimmicks. Same story about residencia is being fed for long-time to keep the prices high. Independent sources are confirming that they are having problems acquiring land from villagers.
villagers are getting smarter now, multi can't fool them with low rates when they see 70-80 lac per kanal being sold by multi in F-17.
Multi has dug its own grave by creating hype and raising prices in F-17 and Faisal Town. If prices were low, they would be able to easily acquire more land at reasonable rates.
Agree with JDM, I visisted the area and people know about the rates of area and now they are not ready to sale their land on cheap prieces, multi has to give them handsome amount to acquire the land otherwise the project will be linger on. By the way, on the ground I did not see even 1% development which means this society can take atleat 5-6 year more to develop while the prices of society are already high which is artificial boom and can brust at any time.
Thanks @JDM & Nasir for the information.
It is very sad to read this as we've been fooled again :(
What we can do now for coming 5 years except waiting...
If you purchased plot for living purpose, then you should wait if you can or otherwise I would suggest to sale it if you are not losing money and buy at anyother place, where the work is already started, both investment wise and living wise I think I will take time.
I hope anyother expert could give you better suggestion.
Agree with Nasir Sb. Options are very limited. These plots were sold at pretty high price. So very unfair situation for people have residencia files.
Faisal residencia has nothing to do with Multi Professionals Co-operative Housing Society (MPCHS), Faisal residencia is a project of Zedem International, its a private project of Ch majeed, F17 belongs to MPCHS and Faisal residencia belongs to Zedem International.
About development in Faisal residencia, no one is sure, when it will start since all land is still not in hand, i heard they will start development in phases and will start within this year.
Issue today with developers is that they do not buy land first and sale their plot only on maps and later gather public money and start buying land.... Which takes a lot f time and still they are not able to get 100% land. Fisal Residencies is doing the same, they are still buying land from locals who are not willing to sale their land on cheap prices although development was supposed to started on Feb 2016 I think and two years are gone and zero development on the ground.
People need to take stand against societies which give you 4 years time and take 10-20 years to develop.