AGHOSH housing project of Islamabad, Development Status and Investment Details
AGHOSH is Accounts Group Officers Cooperative Housing Society Project being developed in Islamabad. Phase I of this society was launched in 1989 but due to slow development process it reached its culmination in 2016. Likewise, Phase II was announced in early 1990s, but it’s not fully developed yet.
In the course of the last 25 years, the developers have not been able to keep the promise they made to the plot proprietors. As a result of the snail pace of development work, absence of inspiration to finish the venture on time, and the general carelessness of the administration group, AGHOSH did not end up being an extremely dependable and enticing lodging society to make the investment. Though the plots were launched, but filing process is still continuing.
A Contrast to its slow development, the main feature of this housing venture is its fantastic location.
Situated on Kahuta Road, it has easy access to Islamabad Expressway. Some of the best Housing societies of these twin cities such as Soan Gardens, Bahriat Town Phase IV, and CBR Phase I are found closer to it.
In the meantime, Phase II is situated closer to DHA Islamabad Phase II, Al Ghurair Giga's World Trade Center, and Ziraj Housing Society. The location of this venture couldn't have been more perfect.
Few years back this housing venture had some development issues such as lack of electricity. But now with time that issue has been resolved. Now AGHOSH housing society has an electricity connection, and houses are being constructed there. Some of the houses are already built and even some families are living there.
Another major issue faced in this housing venture was the slow development of commercial plots in Phase I. But now some progress has been seen after the construction of two high rise buildings. Among those buildings, one is going to be a commercial plaza while the other will have living apartments.
As per latest information, the developers of this project have applied for NOC but that has not been granted yet. Two years back, society demanded PKR 1.25 million as development charges from each plot owner. The last installment for those charges has been paid by December 2017.
Meanwhile the development is in process but steadily. The roads of the society have been made but are not carpeted yet. It is expected that this project will be fully developed by next two years.
The developers took much time for the development of Phase I but now things have settled significantly. Presently, Phase II is progressing gradually however relentlessly. But development in Phase II is expected to be seen sooner or later.
Despite of slow development, the one thing attracting investors is the prime location of this venture. And based on location, when someone compare the prices of AGHOSH with other projects such as ZIraj or DHA, the price difference is relatively stellar.
For instance, in Ziraj, the cost of a 1-kanal plot is around PKR 12.5 million. In the same way, in DHA the costs of 1-kanal plot is around PKR 17.5 million. In correlation, the 1-kanal plot in AGHOSH Phase II is estimated at around PKR 4 million. Huge difference, right?
After the completion of development work, a great increment can be anticipated from this project. For instance, even after the main boulevard of Phase II is covered, the costs will hop essentially maybe near to million. All things considered, it all depend whether the general public will have a NOC, regardless of whether you have a long haul holding power – or you are a long-haul investor—and how the developers will handle the development in the sector.
I trust that purchasing plot file of 1-kanal for PKR 2.4 million is justified. Despite all the trouble, in the event that you have long haul investment plan, the same number of good business attractions and prime private tasks in the sector of AGHOSH’s Phase II will enable it to sparkle, regardless of the developer’s moderate approach. Obviously, financial specialists will be compensated in due time.
In case you have invested in this venture from a long time or planning to make an investment share your experience and feedback with us through your comments. To keep yourself updated about new housing projects keep visiting us at rightdeed.com
May 15, 2018 AT 01:10 PM
May 17, 2018 AT 10:54 AM
It takes them more than 25 years to develop a society with such poor infrastructure and no commercial area.
May 22, 2018 AT 10:59 AM
AGHOSH II administration is asking for development charges now? is it true?