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Multi Gardens (MPCHS) B-17 – past & present - Zameen News

Multi Gardens (MPCHS) B-17 – past & present

June 25, 2013 • news

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People have been inquiring about the fate of B-17 MPCHS Multi Garden housing society for quite some time now. The investors are particularly waiting to see the same jump in rate of Multi Garden plots as that witnessed after the launch of Margalla Avenue back in June 2012.

It is interesting to mention here that prior to the announcement of Margalla Avenue, an 11 kilometer long road connecting D-12 and B-17, there were only 3 or 4 real estate agents in sector B-17. Soon after the announcement of Maragalla Avenue, the management of Multi Gardens B-17 allowed all sorts of estate dealers to set up their offices (free of cost) at the entry and exit points of B-17. This helped bringing in waves of investors leading to a sharp jump of 200% - 300% in plot prices of Multi Garden. For instance, plot of 35x70ft was traded around Rs.1.3 million before the announcement made for the construction of Margalla Avenue MPCHS and immediately after the announcement, the prices sky rocketed to Rs.3.3 million. Unfortunately, the prices are stagnant since then and not much change has been seen.

One of the major reasons that cause the standstill in B-17 is the delay in the completion of Margalla Avenue project. According to several sources, Capital Development Authority (CDA) has been unable to retain the illegally occupied Margalla Avenue land from the land grabbers. Out of total 11 kilometers land, only 06 kilometer of it has been retrieved so far where the construction work is already underway.

It is hoped that with the new Government in office, much delayed project will see completion and help the commuters from Attock, Hazara and surrounding areas coming to the twin cities via this by-pass.