CDA advertisement is shown in the link below:
http://www.cda.gov.pk/cda-latest/ads/park-encl-ad.jpg
It mentions that the location of Park Enclave is 4 Kilometers from Islamabad Club. Chairman CDA has been quoted to say the same. Just to correct the record THIS STATEMENT IS FALSE. In the above Google image I have drawn the Park Enclave boundary (in red color) and Bahria Enclave boundary (in blue color) as per maps given in their advertisements. The brown line is the Nullah. The purple line connects Park Enclave entrance with Islamabad Club entrance. It measures 8.26 Kilometers i.e. more than twice the advertised distance.
Since Park Enclave is not part of the Islamabad sector grid and would be a small sized gated community, its biggest selling point is its close distance from Zone 1. I wish CDA were candid about it. In any case 8.26 kilometers is also pretty close and coupled with high standard of (intended) development it should be of significant value once developed. It seems to me that the closest thing to Park Enclave that we have at present is “Fazia Colony” near Khanna Bridge on Islamabad Highway. Both are at equal distance from the heart of Islamabad. Fazia is 9.5 Km from Zero Point and Park-Enclave is 9.5 Km from Serena Hotel. Park-Enclave will have newer and better development (even though I don’t care about their biometric identification, this is not a nuclear installation) and more calm, quiet and green surroundings but Fazia has the advantage of being equally close to resources in Pindi such as Pindi Saddar, CMH, different Universities of Pindi etc.
It is my lay man’s guess that once Park-Enclave is developed and FULLY MATURE its price should be roughly the same as Fazia (in Fazia the current rate is probably about 1.75 crore per kanal? I am not sure). How long will CDA take to develop it is any one’s guess. They seem to be in good shape though because the area covered by Park-Enclave is COMPELETELY CLEAR OF HOUSES as per satellite image and if they can sell at present price there will be no financial hurdles in development.
BAHRIA ENCLAVE: They seem to have jumped-in in a hurry. As per Dawn News, about the timing of launching Bahria Enclave, its spokeswoman said it was not on the cards. “But, after the CDA’s launch, a decision was made to apprise the general public about its abnormally high prices.” This is a matter of high responsibility towards buyers. Are they not acting irresponsibly by jumping in without planning and homework? They could always offer cheap plots later after proper homework. Their primary objective seems to be to derail the Park Enclave Project in order to keep CDA from getting back on its feet.
They don’t seem to have NOC and are most likely lying about it but that is not all. Take a look at Google image area claimed to be location for Bahria Enclave. IT IS AT LEAST 45% COVERED BY VILLAGE HOUSES. Will Bahria be able to clear up this area in time? That seems unlikely but then it has a better track record than CDA so who knows? If there project gets delayed due to NOC or possession issues then investors will bear the loss. In case of a 5 year delay, the BEI plot will cost the buyer almost as much as Park-Enclave after adding the time value of money. I think investors should take a good look at the number of village-houses inside the Bahria Enclave area. Furthermore we don’t know the total number of plots; we also don’t know how many plots are of 1 Kanal and how many are of 10 Marla in BEI. These details could give us an idea about how congested will BEI be relative to Park-Enclave which has minimum 1 Kanal plots and only 40% area covered by plots. We are also not going to be told by Bahria how many applications they have booked.
QUESTIONS REGARDING CDA: Future role of Zone-4 can only be assessed by taking a look at the Sub-Zoning Map of Zone-4 which I could not find. Has anybody seen it? Why is it not available on CDA website and why is CDA starting a project over there without giving the public the master plan of Zone-4? Will CDA make correction in its false claim of 4 Km distance?
QUESTIONS FOR BAHRIA: Where is the proof of NOC? Where is the SITE MAP? Will you announce the number of applications booked? How will you allot plot numbers to alloties on first come first serve basis without a site map? What is the guarantee you will not add new charges later? What does the cutoff date of 20th July mean? If you get too many applicants will you perform a ballot or just close the booking earlier?
CONCLUSION: CDA project is “LOW RISK LOW GAIN” due to solid preparation but higher price. Bahria project is HIGH RISK HIGH GAIN due to no home work such as no site map no NOC probably only partial purchase of land (as per new items) and presence of village on the land. However if everything goes smoothly possibility of price gain is higher due to low price. May be CDA price should have been quite a bit less than 1.2 crore but I completely don’t understand BEI price. I have seen higher demand in Chatta-Bakhtawar village near Park Road.
