On December 2015, DHA Islamabad’s Phase IV was balloted again. The authority also issued a new map of the phase, which is not available with agents just yet.
A few days ago, Zameen.com reported that more than 200 plots of army officers were relocated from DHA Phase II Extension to DHA Phase IV. This relocation was important because the pace of development work is somewhat slow in DHA Phase II and the retiring officers are supposed to get retirement benefits within a reasonable time frame. Perhaps it was the adjustment of these plots that called for balloting to be done again.
The map issued by DHA previously showed the location of Blocks A, B, C, and D and the respective plots within them. The new map, however, only includes three blocks – A, B and C – and those, too, in different locations adjusted in the same area. The land chunk that was marked as Block B in the old map is not marked on the new map at all. This space is shown empty and Block D has disappeared. But should this be a cause of concern for plots owners? I doubt it. Residential plots in the block that is not included in this map will, of course, be readjusted in other blocks.
Here is the new map:
The good news is that National Logistic Cell (NLC), the company assigned to carry out infrastructural development in Phase IV, is maintaining a healthy pace of work. From the looks of it, it appears that NLC will be done with the work in the committed time, which is by June 2017.
Please note that NLC is to develop Phase IV in parts, the first one of which, according to the new map, includes Blocks A, B and C. As soon as the cell is finished developing these blocks, it will head to other blocks, for which the balloting will done later and the map will be released soon afterwards.
We have a latest image from Phase IV:
It is expected that the possession of Blocks A, B, and C will be handed over by the end of 2016 or beginning of 2017. So that’s when you can expect a major hike in rates. Just 18 months ago, when these blocks weren’t balloted – but NLC’s work was in progress – the average rate of a 1-kanal residential plot was PKR 5,200,000. As of Jan 6, 2016, the average rate of the same-sized plots in the blocks shown on the map hovers around PKR 7,500,000. The handover of property possession will likely make these plots 30% more expensive. Y0u can check the my previous blog here.
The same is true for files in other blocks because when NLC completes work in Blocks A, B and C, it will head over to subsequent blocks, which will bring about a rise in the rates of and demand for these files. The average market rate of a 1-kanal file (in blocks other than Block A, B and C, of course) is PKR 5,150,000, while the average rate of 10-marla files is PKR 3,500,000.
Therefore, it appears that the development of Phase IV is DHA’s top priority and it won’t hurt the pace if the developer decides to work simultaneously in Phase II Extension, or even Phase III for that matter. The fact, however, remains that any investment in DHA Islamabad currently suits Phase IV the most. If you’re hoping to gain maximum profits, you will need to wait for 3 to 5 years. Otherwise, you can sell your land as and when the offered profit is tempting enough to buy files in the idle blocks of Phase IV, which stretch to Block M. These will be in shape in another 10 years or so.
Note: The information quoted in this article has been sourced from Property Investment Point CEO Brig (R) Waqar Raja. For additional consultation, he can be reached at +92-320-501-0777.