Development for the China-Pakistan Economic Corridor (CPEC) has put Gwadar in the spotlight. Investors have an eye on the many real estate projects underway in the locality, but rumours surrounding the market have made realty decisions difficult.
The Sangar Housing Scheme, a residential project with an excellent location, has found itself in the middle of some trouble courtesy the ever-busy rumour mill. As the news goes, supposedly the society was going to be acquired by the Pakistan Navy. However, the Gwadar Development Authority (GDA) has stepped forward to put these rumours to rest and issued a public notice to clarify the situation.
Previously, investors were shying away from the project because of these rumours. The civic authority has now said that some groups are propagating fabricated stories about the future of the housing scheme, and called them baseless and untrue. The GDA further stated that development work has already begun in the society, and stakeholders should not worry, as their interests are safe.
The authority has advised investors to not pay heed to rumours and contact the Project Directorate if any information is required.
The society consists of four phases. The second and third phase have been broken up into sub-phases. Phase I’s sewerage work has been completed. However, it is important to note that despite this progress the society’s overall road infrastructure is not that impressive.
The society features residential plots measuring 400-square yards, 600-square yards, and 1,000-square yards. The prices of these plots are as follows:
|Plot Type||Price Range|
|400-square yards||PKR 3,500,000 to 3,800,000|
|600-square yards||PKR 2,200,000 to PKR 4,500,000|
|1,000-square yards||PKR 3,500,000 to PKR 10,000,000|
Though the society flaunts a spectacular location on Koh-e-Batil and offers picturesque views, it has not witnessed much price appreciation because of the aforementioned rumours.
Now that the GDA has rolled out its public notice investors can invest here with a certain peace of mind. The society may not offer impressive returns in the short term, but will most likely emerge as a favourite in the long term. Even the completion of CPEC will prove to be favourable for investors.
That is all I have to share about Sangar Housing Society for now. Have something to add to this? Have your say in the comments section below.