Is the new blue area worth investing in?

Buying Property Buying Process
#1

Is the New Blue Area recently launched by the Prime Minister Imran Khan worth investing? Initially 26 commercial plots will be up for auction in the F-9 Park located on are of 170 kanals. The auction will take place next month between April 14 and 16.

According to the news i was reading, CDA is offering 10% rebate to those who make lump-sum payment. Unlike previously, the buyer will have 30 days to pay the first instalment instead of 10 days for paying the 25% down payment on the winning bid. Advance tax exemption will also be given to those who participate in the auction.

I have several questions about this:

What are the reserve prices for these plots?

What is the instalment period?

Does anyone know the plot sizes that will be available?

Finally, what do the forum experts think of the investment in this area?

#2

Please kya app bta sakte ha ke iss me minimum kitne sq.yard/sq.ft ka plot hae mtlb jo sasta ho…Installment plan kya hae and and kam se kam sq.ft mujhe kitne ka parega.Aur ye existing Blue Area ke sath touch hae ke kahi aur…Forum legends please answer

#4

I do not know exact prices, but i know one thing for sure.

Its a game of billions. Not in millions.

#5

I have now found out that the plot sizes at New Blue Area, Islamabad range from 600 square yard to 10,000 square yard.

#6

It’s a big investment in terms of $$$, might be long term and also finding the buyers in future will be hard. Better if you have money to invest and build a mall or building and get best rentals.

#7

Total Size = 170 Kanal (not much)

Location = Between G-9 & F9: Jinnah Avenue to be specific (A rectangular strip between Jinnah Avenue & Ibn e Sina Road). Approx 3 to 4 km on straigt road from the Centaurus & less from F-8 Markaz.

Estimated Revenue by Land Selling = 25 to 30 Bn PKR (25 to 28) Commercial Plots for Auction

** 30000000000 PKR/(170 X 20) = 75 to 88 Lakh approx per Marla.

Hopefully, I havent missed any zero(s), here and there...

Revenue/Size gives a rough figure in terms of price/marla/sq. Yards.

CDA needs money, area is small surrounding is prime and developed. If CDA doesnt mess that up as usual this is show that can be started and completed within 1 year.

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Here is the location on GMaps (rectangular slot) Starting and Ending exactly between G-9, F9 where both start and end:

https://www.google.com/maps/@33.6935359,73.0245408,3748m/data=!3m1!1e3

#8

Very informative IMTIAZ BHAI.

#9

@Imtiaz, Thank you.

#10

Have no attraction for small and medium investors.

#11

It can be at second tier, i.e., construction on auctioned plots with shops or whatever commercial. Not cheap but well worth more than these commercials of BT/DH/etc. for mid sized investment!!

#12

I think we can safely assume that many such projects will be delayed. The government was going to auction its plots in the New Blue Area in mid-April but given the lockdown situation owing to Coronavirus, I think the auction will be delayed. We cannot say anything with certainty about the prices because everything is undecided right now. However, many projects will be delayed and that will affect the prices too.

@Imtiaz. Could you elaborate a bit about what exactly do you mean by second-tier here and how mid-sized investors could consider?

#13

Tier-1 = Big Investors/Owner who could buy off those plots from auctioning to construct or sell.

Tier-2 = Mid-sized Investors/Owners who could buy off constructed commercial units like shops/offices/etc.

Location is prime, prices could be lesser than fully developed CDA prime commercials ... Ones who could afford and missed the earlier tide of Old Blue Area can have this an a quite decent opportunity. Considering the anticipated cost, it for sure is not for everyone but at min who could have 20+ to 30+ million even for smallest sized units, whenever that happens...

#14

Thank you, @Imtiaz.



Also, the CDA is considering delaying the auction which was originally scheduled for April 14-16, since major cities of the country are under lockdown due to the novel coronavirus outbreak. It will not be possible for the buyers and investors to attend the auction event.

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