Bahria Town Karachi (BTK) will be launching a new project soon, i.e. Bahria Paradise. Initial details about the project were disseminated through registered Bahria Town dealers on April 10.
The project comes at an interesting time since DHA City Karachi (DCK) only recently launched a new deal. Both the projects offer strong property options, and both are names that are well known in the market. It remains to be seen how investors react.
According to registered dealers, the pre-booking for Bahria Paradise plots has started and there is already an asking profit of PKR 100,000 to PKR 200,000 on these plots and villas even though the project has not seen an official launch yet.
I got in touch with Bahria Town and found out that the developer is indeed looking to launch the project by the end of this month. While some of my sources have suggested that the project will be launched on April 27, Bahria Town’s management remained mum on the exact date.
What’s on the menu
According to my sources, the Bahria Paradise project will be located adjacent to Precinct 16 near the Jamia Masjid, in BTK. It will feature 250-yard2, 500-yard2 and 1,000-yard2 residential plots, along with 500 yard2 villas. It should be noted here that Bahria Town hasn’t officially started marketing the project. Nonetheless, its registered dealers certainly have.
Reportedly, these plots and villas will be offered through a four-year instalment plan. And in order to book a confirmed plot or villa through the registered dealers you will be required to pay something between PKR 100,000 and PKR 200,000 cash in exchange for a receiving receipt.
Paying this amount means that your booking for Bahria Paradise has been confirmed. In simple words, as and when Bahria Town holds a ballot for Bahria Paradise, the names of the people who pre-booked their plots will be included in the list of successful applicants.
If the launch date is correct, Bahria Town will invite applications for the new project, hold balloting later and begin with the payment plan. Meanwhile, the investors cum traders cum real estate agents will start flipping the booking forms, and soon there will be an even higher asking profit on these forms. Word about this new project has already reached short-term investors, who should by now be prepared to start the form-flipping game in Bahria Town Karachi once again.
What to expect
I have no doubt that BTK will develop this project, deliver it at the promised time and according to the promised standards.
I am waiting for the final payment plan, the official rates of residential plots and villas, and related details about the project before I analyse it further. However, what I do know is that the project is huge and will have a good number of plots to entertain property traders. Meanwhile, an unconfirmed payment plan is available in the market right now. Check it out:
|Property Size & Type||Expected Total Price||Expected Down Payment|
|250-yard2 Plot||PKR 4,500,000 – PKR 5,000,000||PKR 500,000 – PKR 750,000|
|500-yard2 Plot||PKR 8,500,000 – PKR 9,500,000||PKR 950,000 – PKR 1,425,000|
|1000-yard2 Plot||PKR 14,000,000 – PKR 15,000,000||PKR 1,400,000 – PKR 2,250,000|
|500-yard2 Villa||PKR 25,000,000 – PKR 27,500,000||PKR 2,750,000 – PKR 4,125,000|
What do you people think about Bahria Paradise? Is this something you are looking forward to? Let me know in the comments section!
Note: Some of the information quoted in this article is sourced from Property Legends’ Rizwan Mughal – an authorised real estate dealer of Bahria Town Karachi. If you wish to seek more details about the project, he is available at +92-300-822-9607.