Whats update on park enclave islamabad. Cda has apparently extended the submission date of application from 17 dec to 24 dec.Is it because of slow response or something else. Any news on development?
Flooop project that’s why. Price was in millions but development 0
The reason for extension was not slow response. They were supposed to make the forms available from 17th Nov till 17th Dec as per their news ad, but typical of cda, they could not. The forms got available in last week of Dec. So probably the reason of extending the deadline is that they started the process late.
Heard down payment is 7 lac. Do you see short term profit in case of successful balloting?
Down payment of 7 lacs, i think it will be 7 million, I guess… Can any one confirm?
CDA Park Enclave New Booking Golden Investment Farm Available at 15,000 Each Total Price one kanal is 1,75,00,000/ 10% down payment with form submition. 15% within one month after plot letter confirmation. 25% 3 installment every 4 month.
For Confirm Booking additional charges will apply . And 1% service charges. Last Date 24 Dec 2014. Regard Nexus Estate Services Blue Area 03008553363
This was a text I had received from an estate agent
CDA acting like Bahria, confirm booking through dealers??? Why the drama for ballotting?
If you apply, your booking is almost already confirmed as the number of applications received so far are small. Hardly any applications for the 2 kanal category. Investors have grown wise, instead of getting plot through these means, they will sit back and wait for plots to go in minus. Then they will make their move.
@Raza well said.
I am told the contract has been signed with developer and CDA was hoping to collect enough money to start work. Is my info correct?
Yes the contract has been signed and work has “started” but cannot be sure for how long it will “continue” as sooner or later CDA will have to start making payments to the contractor. The development work has started on the old plots and a lot of the area where these new plots are being created is not in CDA possession as of now.
If CDA is able to sell all these plots it will result in a windfall. If all plots are sold and people make their payments, CDA will be able to collect over 1 billion Rupees through the installments within one month of allotment (DP + 1st inst.). If there is oversubscription and balloting is delayed for a month or two, it may also earn several crores in interest earned from the down payment deposits. Overall, if the deal goes through, CDA’s financial position will improve a lot, but the real question will be where they spend this amount.
Kashif, I doubt they will be able to sell these plots... Lets see.... Fate is already written on the wall...
Regards