Options within the Budget of 50 Lac to construct 1 kanal house
Dear Respected experts and friends
During my recent visit to Pakistan , I got an opportunity to look into different schemes with a view to construct a house. I have checked the following schemes:
1)Bahria Nasheman
2) Central Park
3) AWT phase 2
4)Grand Avenue
let me share my experience with you about all these schemes
1) Bahria Nasheman: Situated on ferozpur road opposite of Central park but entry gate is about 1.0 Km inside fron ferozpur road. There were no 1 kanal plots only 8 marla and 5 marla. It has a very nice development and all the facilities were excellent. Many houses were constructed and people living there. I found it to be bit congested and it will be more when more houses will be built.The rate was 22-24lac for 5 marla and 29-36 for 8 marla. They were anticipating the rate to be increased to 26-28 by june for 5 marla and 32-40 for 8 marla.
2) Central Park: I have witnessed many improvements during my last visit in March. Lots of construction activity was going . Two different agents told me that it has now more than 400 houses where families are living.The approach was from main ferozpur road and commercial plazas were mushrooming on the main boulevard. I have spoken to few residetns there as I was keen to buy there and they all ahd positive views about it. It is very secure and gated community. The possession area plots were available from 39 to 65 in A block. and from 35 onwards in B block depends upon
location.
The agents were very positive about the future of it. According to their point of view highly underprieced scheme and it has a potential to grow rapidly in near future. They were predicting and anticipating the price to be with in the range of 60 lac within a year for a canal. The 10 marla has many plots and price will not grow very rapidly. In short , good investment for 1 kanal or 2 kanal.
3)AWT phase 2: Big sort of deserted scheme and the development work was not very good. There were houses and the price range was between 32-55 lac depends upon the location.Due toa ring road interchange at ADA plot it has a huge potential to grow and
prices may double (as per the information from dealers there).In my opinion, not an ideal place to built a house but good for investment.
4)Grand Avenue: Startegic location and next to Bahria Nasheman.Highly underrated and ignored scheme by investors with an access from main ferozpur road. The development work was in swing and quality of development was very good. The A block will be ready for possession in October 2015, because they have done the carpted roads in 70% of A block. Small gated community about 2 kM before central park. If the price of central park will appreciate than its price will appreciate too. The 1 kanal plot was available in the price range of 29-35 with installments on old bookings. They got their status clear from LDA (it is not anymore on Illegal list of LDA). It is underpriced and have a potential to give very positive gains.The quality of developed roads is at par with Bahria nasheman.
These were my observations and I did some investments in these socities as I felt the potential in these schemes and plots were on ground