There has finally been a development in Park Enclave, one of the Capital Development Authority (CDA)’s recently stalled projects. The good news is that the authority has announced possession in the locality and will start handing over plots by December 28, 2015. But there is a catch here: possession will be granted only in the area where development work is complete.
Should this worry the remaining allottees? Not really, as the CDA has vowed to hand over possession in the remaining areas in February 2016, right after completion of the development work.
In a recent authority meeting headed by CDA Chairman Maroof Afzal, Park Enclave’s project director explained that the housing scheme in question was launched in 2011 and that the current officeholders had prioritised the project by taking concrete measures to complete it as soon as possible.
Park Enclave Phase I features residential plots of 1 kanal and 2 kanal. Please see the table below to have an idea of the market rates.
|Plot Category||Price Range|
|1 Kanal||PKR 20,000,000 to PKR 27,500,000|
|2 Kanal||PKR 45,000,000 to PKR 50,000,000|
And that’s all about Park Enclave I for the day. We congratulate the allottees, as they will soon be able to build their houses in the locality.
Launch of Park Enclave II
The CDA, at the same time, has launched Park Enclave II on Park Road, Islamabad. The development will boast an excellent location and feature 1-kanal plots, which will be allotted through ballot. The balloting date has not been announced yet.
If you are interested in the project, you need to make the move before January 12, 2016, which is the last date to apply for booking. Application forms are available at the CDA’s one-window directorate, Muslim Commercial Bank, and Bank of Punjab.
Park Enclave II will be located in the vicinity of Park Enclave I, just a few minutes from the airport, Zero Point and Rawalpindi.
The CDA has marketed the project in newspapers and according to the advert, the project will feature a community care building, upscale infrastructure, green areas, recreational facilities and a serene environment.
The CDA has already been flayed for delaying Park Enclave I, but in a recent meeting it was decided that the completion of work here will lure investors to invest in Park Enclave II. The chairman has directed the officials concerned to complete necessary formalities as soon as possible so that development work can be initiated shortly. He has also expressed high hopes for the project as it will not only cater to housing needs of people but will also increase the beauty of the federal capital.
Would you like to invest in CDA’s new project? Let us know in the comments section below.