Did you hear about the launch of Gulberg Pacific Villas? Before my research, I hadn’t either! This is probably because the project was not advertised widely.
Well, it looks like the developer, Gemini Developers, didn’t really need to reach out to a greater audience because the job seems to have gotten done with limited promulgation. Bookings for the villas in question are now closed! Yes, already. Considering the fact that the project only dates back to the near past, the speedy manner with which the shutter was brought down on bookings hints at the colossal response received.
You are probably familiar with Gulberg Residencia of Gulberg Islamabad. Surprisingly, the villas in question are located in the Block I of this very society! Want a villa? You can still buy one if any of the owners are willing to sell.
The project is in its development phase, with construction is moving along at a good pace. It seems like the villas will be competed sooner rather than later.
According to the developers, the model villa will be completed in December this year and possession of the remaining villas will be handed over in June 2016.
The project features three types of villas with different covered areas. The payment plan for each category is given below:
|Covered area||2,900 sq ft||2,850 sq ft||3,150 sq ft|
|Down payment||PKR 2,000,000||PKR 2,000,000||PKR 2,000,000|
|Instalments after every 2 months||600,000x12 = PKR 7,200,000||600,000x12 = PKR 7,200,000||641,666x12 = PKR 7,700,000|
|Payment to be made on possession||PKR 1,800,000||PKR 1800,000||PKR 1,800,000|
|Total price||PKR 11,000,000||PKR 11,000,000||PKR 11,500,000|
View the images below to get a fair, visual idea of the pace of development.
A Gemini Developers official has claimed that more projects are on the cards. Therefore, to garner sustained success, the developer needs to prove its mettle now, as the property sector is brimming with competition and it’s not that easy to outdo other key players in the market.
Update on Gulberg Residencia
With the development of Gulberg Pacific Villas underway, it seems that Gulberg Residencia is reaping the benefits. According to Mr Asif of Shaheen Enterprises, property prices in Block I have increased notably in the last few months, which he attributes to the villas.
According to Mr Asif, Gulberg Residencia’s developer has handed over possession in Blocks E, F, I and partly in Block J.
The prices in the locality vary from block to block. The sale price of 10-marla plots ranges between PKR 2,100,000 and PKR 4,500,000, with prices at a minimum in Block T and highest in Blocks A, B, F and I.
The market price for 1-kanal plots ranges between PKR 3,500,000 and PKR 7,000,000. For this category of plots, the prices are lowest in Block P and highest in Blocks A, B and E.
Mr Asif did not seem satisfied about the pace of development in Gulberg Residencia and complained that the developer has been focusing primarily on Gulberg Greens, the project that hosts farm houses.
Anyway, it’s now time to wrap up the post. As always, I am ready to have a conversation with you in the comments section below. So do write to me to discuss the ins and outs of the developments I’ve mentioned.