{"id":25090,"date":"2017-03-13T16:31:25","date_gmt":"2017-03-13T16:31:25","guid":{"rendered":"http:\/\/www.zameen.com\/blog\/?p=25090"},"modified":"2020-01-22T06:36:53","modified_gmt":"2020-01-22T06:36:53","slug":"nfc-phase-ii-management-blues-over-thanks-to-court-ruling","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/nfc-phase-ii-management-blues-over-thanks-to-court-ruling.html","title":{"rendered":"NFC Phase II management woes over thanks to court ruling"},"content":{"rendered":"

\"\"<\/p>\n

It was just a few days ago that I updated you people on the possible end of National Fertilizer Corporation (NFC) Phase II\u2019s problems. I\u2019m happy to report that an end to the complications is now in sight.<\/p>\n

For those that don\u2019t know, NFC Phase II<\/a>, a project of National Fertilizer Corporation Employees Cooperative Housing Society Ltd, has been stuck in limbo because of management related issues. Recently, a court hearing looked into the matter and gave a verdict that goes in favour of the investors.<\/p>\n

The society has been ordered to hold elections and elect a party that can take charge of management related tasks. According to my sources, four different parties were fighting against each other to take over said tasks. One of them had taken a stay order from the court, which resulted in a dreadlock. We can expect big changes for the society now that the court has issued orders to conduct elections.<\/p>\n

The new management that will take charge after elections take place is expected to prioritise development work. I have heard that tenders for infrastructure development in the society are ready, which is why I believe that the new management won\u2019t waste time and start development immediately.<\/p>\n

Despite the issues it has faced, investors have always sought after this society. According to Zameen.com\u2019s stats, prices of 10-marla plots in the society increased 41.14% in 2016. Similarly, the average price of 1-kanal plots also witnessed an upward push of 60.48%, while 5-marla plots registered an increase of 25%.<\/p>\n

Here is the current pricing situation:<\/p>\n\n\n\n\n\n\n
Plot Size<\/strong><\/td>\nPrice Range<\/strong><\/td>\n<\/tr>\n
5 Marla<\/td>\nPKR 1,600,000 to PKR 2,500,000<\/td>\n<\/tr>\n
10 Marla<\/td>\nPKR 2,700,000 to PKR 3,500,000<\/td>\n<\/tr>\n
1 kanal<\/td>\nPKR 4,000,000 to PKR 7,000,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

NFC Phase II will also be affected by developments on the Lahore Ring Road (LRR). However, its route will not do much damage to the society, as only a few residential plots in Block A, and commercial plots located at the entrance of the society are expected to fall within the path. In fact, property prices in NFC Phase II will increase after LRR is completed. This is because it will mean better accessibility for the society. It is pertinent to mention here that the government has not yet awarded contracts for these developments to any construction company.<\/p>\n

Now investors need to wait for elections to take place. And I hope the date for the elections is announced sooner rather than later. Investors that have been waiting all this time will now finally be able to enjoy the fruits of their patience.<\/p>\n

Considering all these factors, I believe this is the right time to invest in NFC\u2019s Phase II. Prices of property in neighbouring societies are quite high, and NFC Phase II will also touch that mark after development work starts.<\/p>\n

I hope the court verdict has brought along a sigh of relief for NFC Phase II investors. I would like to know your views about this update. Let me know what you think in the comments section below.<\/p>\n","protected":false},"excerpt":{"rendered":"

It was just a few days ago that I updated you people on the possible end of National Fertilizer Corporation (NFC) Phase II\u2019s problems. I\u2019m happy to report that an end to the complications is now in sight. For those that don\u2019t know, NFC Phase II, a project of National Fertilizer Corporation Employees Cooperative Housing Society Ltd, has been stuck in limbo because of management related issues. Recently, a court hearing looked into the matter and gave a verdict that goes in favour of the investors. The society has been ordered to hold elections and elect a party that can take charge of management related tasks. According to my sources, four different parties were fighting against each other to take over said tasks. One of them had taken a stay order from the court, which resulted in a dreadlock. We can expect big changes for the society now that the court has issued orders to conduct elections. The new management that will take charge after elections take place is expected to prioritise development work. I have heard that tenders for infrastructure development in the society are ready, which is why I believe that the new management won\u2019t waste time and…<\/p>\n","protected":false},"author":14,"featured_media":25091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[],"persona":[],"class_list":{"0":"post-25090","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"cat-15016-id"},"acf":[],"yoast_head":"\nNFC Phase II management woes over thanks to court ruling - Zameen News<\/title>\n<meta name=\"description\" content=\"It was just a few days ago that I updated you people on the possible end of National Fertilizer Corporation (NFC) Phase II\u2019s problems. 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