The Capital Development Authority (CDA) has launched various residential projects in Islamabad. Some of the projects such as Sector F-11 are successful and out of reach for the mid-income strata, while others still seek the authority’s attention for their completion even after years of launch.
Park Enclave I is an exclusive project, one in which the CDA handed over possession within a record time. This explains why the demand for plots for sale in Park Enclave rarely goes down. Property possession here was handed over last Sunday, but there is a catch: possession was not given for all plots.
Precisely, the CDA granted possession for the following plots:
|Plots Numbers||Number of Plots|
|140 to 229||90|
|231 to 429||199|
|433 to 441||09|
|443 to 470||28|
|471 to 484||14|
|486 to 493||08|
According to a source, the authority will continue to grant possession for the remaining plots as the development work progresses.
Plot owners are now required to settle their accounts with the CDA to get possession. Make sure you pay your remaining instalments (if any) before May 15, 2016, the last date for submission.
You simply need to submit an application along with a pay order of PKR 1,000 and attested copies of your national ID card and allotment letter to the CDA before the mentioned date.
Prices in Park Enclave I
The project features 1-, and 2-kanal plots. Rates of these plots are already high and an average Joe cannot afford them.
Please see the table below to have an idea of the market price of plots in Park Enclave I:
|Plot Category||Market Price|
|1 Kanal||PKR 21,000,000 to PKR 25,000,000|
|2 Kanal||PKR 40,000,000 to PKR 45,000,000|
In my personal view, prices in the locality will increase further in the time to come, but this particular housing scheme is not that attractive for investment considering the fact that prices have already soared massively.
Park Enclave II
The CDA recently launched Park Enclave II, located the close vicinity of Park Enclave I. One-kanal plots were offered for PKR 20,500,000. They were booked at PKR 2,000,000 and balloting was held on February 9.
These plots are available in the market on profit ranging between PKR 1,500,000 to PKR 2,500,000, depending on plot location.
I believe that you should consider investing in Park Enclave II to bag good returns in the future because the locality has excellent scope for growth in terms of property values.
If you want me to get you in touch with a trusted agent dealing in the locality, please feel free to show your concern in the comments section below.