I was wondering if somebody can enlighten me about the gold mine that has been discovered in this scheme after a sudden take over of Citi group.
Rumors has it that city group is backed by BT and its son in law of M.R who's is running things around there and because of that people have gone mad about it.
My personal opinion is that prices are way too high if one compares it with the initial prices of BT Isb and yet not much development has been taken place. They are selling plots on almost DHA and BT rates.
Development has started and the prices are not out of whack given the demand for such quality projects and availability there. Lots of overseas Pakostanis from Europe are investing.
Can you give me some details that makes it so attractive for foreign investors when they can buy something for the same amount in DHA 2 or BT phase 8.Why wud anyone from Lahore or Rawalpindi invest in jhelum unless the they have something fishy going on which the general public is not aware of .
Another thing to take in consideration is that when one can buy a decent plot for almost 5lacs a Marla in jhelum Cantt(main Cantt between the MP check posts) which is totally populated and the best location for a decent family in whole jhelum district than why wud one take a chance to invest 18.5lacs to get 5 Marla plot,36 lacs for 10 and 64?lacs for 1 kanal plot and that too without possession.
Keeping in mind what happened to the people who invested in the same project under the satellite town banner.They got nothing even after several years except false promises and fancy dreams of overwhelming profits.
No offence intended,just looking for proper guidance with reasonable and relevant arguments!
Mr. Curious... There are a few ways to answer you question. I'll take the easy approach first and say that the psychology of foreign investors makes this an attractive project.
There are 1.2 million Pakistani's only in the UK. They hail from Mirpur, gujrat, jhelum etc and for them they like going back home. What they do not like is the fact that there aren't any decent developments in their "pinds". I personally have never been to Jhelum and have no interest in going there. I have however lived for almost 15 years in the states and the UK and Dubai and personally know of many British Pakistani's that have bought multiple plots in this development. So they can go back and build their "kothis" in "islamabad style livin". Spending 20 K pounds over 3 years for a 10 marla plot which is what they are used to living in Europe is like buying chewing gum. I have just given the UK as an example and haven't touched on wider Europe or the US. American Paksitanis are from the cities generally and their links are not with the villages of Pakistan.
From a fundamental perspective, the project is going to offer quality amenities when complete. The bahria town association with the name is always a plus, the land has been acquired and based on pictures I have seen, there is development on site. I have a guy from gujranwala who works for me and he said this is the best development in Gujranwala.
I bought a file, it is in my drawer somewhere, at some point I'll sell it in a few years. Till then I have the project on mute. I probably will never make it out to Jhelum but the 3 PIA flights that land from UK to Pakistan will be full of prospective buyers once their chacha and mama buy and build a "kothi" there....
Well,i agree with you to a certain extend and i understand what you are trying to say about the phsycological aspects of investing in this or any other project for that sake.They basic aspirations remains the same where ever you bet your money i.e, have clean and safe surrounding and a progressive atmosphere pluss not forgetting that your hard earned money is safe whether it's in the form of investment or personal residence.
Im not a kind of person to brag about that I have lived almost my whole life abroad even though i have lived mostly in Europe but I don't take that for granted and doesn't make me anything more than ordninary but I just take it as an opportunity rather than a previlege.
So,I can easily understand expats considerations when they want to invest in any place but the thing is that they get ripped off easily because of there lack of knowledge of certain area and mostly due to their straight forward approach.The misguidance and dishonesty which has unfortunately become the core of our society plays also a vital role in ruining peoples lives.But of course,it varies from person to person and not every foreign invester is a saint or as as sophisticated as it's usually expected and vise versa.
Main point of my question was whether this society has a genuine potential of delivering people what they are looking for or is it just another scam of some big shots to make huge profits at the expense of ignorant and simple expats dreaming of a prosperous life,close to their loved ones in their homeland.
I was just looking for someone who really has concrete arguments for particularly this project considering the previous blunder of satellite town where almost nothing was done even after eight ,nine years.What makes these new developers so special when they have still a long way to go.They have kick started marketing and some fancy ho ha here and there but on ground only small portion of project is visible.
If it's a good project then it wud really be a good alternative for people having roots in this area but what if it isn't then isn't it our duty to save people from a disaster or a major blow that could ruin their lives.
My personal opinion as mentioned in the start that this doesn't feels right to me but that's just me unless someone can convince me otherwise.
And yes,i have visited the site myself :)
I welcome anyone to contribute so that people are aware before they get stuck and regret afterwards.
Peace!
Thank you Mr.Kan007 for your input and going easy on me ;)
Would you mind sharing how much did you pay for your file and when did you bought it?