Property in Islamabad have always been considered a secure investment and there are countless reasons behind it. Few years ago, property in the adjoining areas of Islamabad were available on cheaper rates but their prices sky rocketed quickly and various small villages are now transforming into chic housing societies linked with the city through highways. Most of the plots and houses in the societies near Islamabad and Rawalpindi are either booked or sold. Same is the case with properties in the premises of the Capital. As soon as new plots are announced in new sector and sub sectors of Islamabad, countless application mount, showing the value and demand of properties in Islamabad.
The Capital Development Authority invited application for plots in Sector G-6 and by the last day, about 1,700 applications were received for 1,120 available plots. The size of these plots varied, ranging between 111 and 2100 square yards and most of the applications were received for bigger plots. Among these applications, quite many were for the 666 square yard plots, which were only 48 in number. The management and the real estate experts are quite satisfied with response from people and are hopeful to witness similar activity in Pakistan real estate. The next step in plot allocation is sorting the applications. For the plots that have received more applications, a lot will be held to keep the process fair.
For the CDA as well as real estate agents, the public response to these applications was very surprising. Since the applications were to be submitted with 10% down payment of the plot, it was quite astonishing the number of applications received was much more than the available plots. The vision for city’s expansion was conceived few years ago and the public response to this confirms that Islamabad needs more space to accommodate the people interested in living and investing here. Sector G 6 is one of the 38 sectors, which are planned for the city’s expansion. CDA will invite applications for the residential and commercial property in Islamabad‘s sector F in next couple of months.