Park View Housing, Islamabad – A Good Or Bad Investment?
Creating waves in the real estate market of Islamabad, Park View City has successfully diverted the attention of investors from Bahria Enclave.
Park View City and Bahria Enclave are often compared because they share the similar neighborhood i.e. Islamabad's Zone IV.
In fact, looking at different aspects, Park View City might be superior to Bahria Enclave in terms of dealing, conveyance, and the quality of development.
Numerous investors have already gaged the potential worth of Park View City. But, there are some who aren't sure about society's sound future. For genuine buyers and short-term traders, some legitimate concerns do exist. How about we observe a portion of the worries that investors have:
The Capital Development Authority (CDA) issued Park View a NOC in 2013, but it was canceled just a year later in 2014.
According to some reports, the issues began when society's management asked for certain records as a proof of handing over a portion of Park View's land to the authority.
In spite of the fact that the developers agreed to withdraw their demand, CDA declined to re-issue the NOC.
Park View took the case to the Islamabad High Court, which heard the two parties on August 17.
The case has been deferred until the following hearing on August 24. The tussle between the two has left investors with many doubts about investing into the society until the further notice.
Situated on the 20-ft wide Malot Road, the starting rates of Park View City are pretty high.
Moreover, the developers increased the rates of 5-marla and 10-marla private plots by PKR 200,000 each.
The individuals who visit the site discover that the society is surrounded by farmhouses and local settlements.
Right now, Park View City just has four registered dealers. Not only is the number shockingly low, the discounts offered to these dealers is also not very appealing. However, some of these agencies are entirely contented right now because of the warm activity of the market.
On the other hand, the non-registered agencies are only involved in the resale of units and have obvious concerns and complaints.
If the NOC situation is somehow resolved, this project could set new standards in Pakistan’s real estate.
Want to give your feedback? Shoot it in the comment section down below.
June 6, 2018 AT 08:11 AM
i think its a good investment