Rafi Group will have to develop at least 30% otherwise they will lose their deposit. Their NOC was renewed by GDA conditionally on this basis. If they don't do development, their deposit will be forfeited.
But I agree with Rajab sahab, the land around the area on Makran Coastal Highway is much cheaper. So the product being offered by Green Palms has an inbuilt very high value-addition cost. In some ways it is worth it because Rafi Group will provide security of land against fraud and will undertake development work in an area that still needs high security. But in purely economic terms if you look at land price and location only, it is quite an expensive offer.
On the other hand a much more interesting and very high-potential option is to purchase one kanal or two kanal pieces of land on Central Boulevard or Marine Drive. For a price of around one crore per kanal roughly. That will be much better location and will be a big plot. You will have purchased at a very reasonable price as it is commercial by location. It will be so far undeveloped. It is raw land and development will be own responsibility not of a big group like Rafi Group. But you will have to do exceptionally thorough checking of land record before closing the deal. Also you will need to get a land record expert involved and do a few trips to Gwadar. There is some risk because land revenue records are not computerised in GDA yet. Going to Gwadar is through Karachi. One fokker flight in the morning. A couple of good hotels including PC. Another one is Sadaf Hotel. Taxis are not available so you have to rent a car and drive around yourself! You can get a car with chauffeur too but then rate is higher.
But in case of Green Palm there is no risk of fraud as the Rafi Group is a recognised brand. But location is a bit far on Coastal Highway. At this time Green Palm location is far, but in future it will be a very good location. Moreover you can do sale purchase transfers in Lahore without the need to go to Gwadar.
