Park View City in Islamabad is among the top names in terms of investment opportunities in the real estate industry in Pakistan. This housing society project is located near Bahria Enclave and is about 15 minutes away from Sarena Hotel Islamabad. This project is also in close vicinity to Bani Gala and is only 5 minutes away from the Botanical Garden Islamabad. Due to its location, many Pakistanis’ living abroad are also interested in investing in this real estate project. With the project receiving the CDA’s g- head, the housing society’s residential and commercial plots are in high demand.
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Development status of Park View City
As of now, the A and B Blocks of this real estate project have been completely developed. These blocks were also granted the right of property ownership just a little while back. Currently, there are about sixty fully houses on these blocks that are fully constructed and ready to move into while a number of plots are either under construction or are ready for constructions to begin on them. Either way, the blocks are ready for residents to start inhabiting them.
In the other blocks of this housing society scheme, development processes are underway with a few things still being worked on. In the D Block, the water lines and sewerage systems have been installed but development is still ongoing and the block is only 80% complete. Since a large portion of this region is ready to claim, the developers of this project have started granting plot ownership to buyers. If investors are looking to buy the property and sell it for a profit, or buy it for constructing their own homes, D block is open for booking.
The groundwork in the rest of the blocks, Block C, E, and F, has been developed completely. Currently, the only work being done in these blocks is the installment of the water pipelines and the sewerage systems. The developers have stated that the work pace will not slow down and development on these will be completed in the coming 6 months. Even though most of society’s blocks have either been fully developed or are being developed, the extension blocks. H, J, and K are currently awaiting development.
This housing society’s possible future extension plans on three of it is what makes it more unique in the real estate market. The developers of this society have never kept the land acquisition a mystery from its investors and all investors involved with the project are directly in contact with the developers. Since the developers of this society now have abundant land to develop new blocks, there is a possibility that new plot bookings might open up soon.
Demand in the Market
According to the real estate agents working on this project, the demand for plots in the society has been steady through the whole year as compared to neighboring housing society projects. During the initial stages of this project, about seventy-five percent of the investors were the end-users whereas today, that number has gone up to ninety percent during the project’s second launch phase. The reason why this number has increased is due to the rapid development of the project and their commitment to delivering what they promised within the time requested.
The Park View City payment plan for this project was released about one year ago and the developers have not updated it due to the high demand for the residential plots. Currently, 5 Marla residential plots in the A and B blocks are available with a down payment of just 1,875,000/- PKR and a quarterly installment of just 1,406,250/- PKR. Due to their high demand, only a handful of these 5 Marla residential plots are left.
With its rapid development, there is a possibility that the payment plans of this society will increase even more in the upcoming year. As of now, this project is a good investment for realtors looking to make money in the coming year as due to their popularity, the plots are selling out faster than expected.