Buy or Sell a Property

Buy or Sell a Plot, House, Apartment, Shop or Plaza as well as any Residential, Commercial or Industrial Estates. For any Real Estate Assets Trade, Investment and Management Services please contact us for more details.

Rent or Lease a Property

Rent or Lease a House, Apartment, Shop or Plaza as well as any Commercial or Industrial Estates. For any Buildings or Property Management Conultancy Services please contact us for more details.

Invest, Design or Build

We provide services to our National and International clients to Plan, Invest, Design or Build Residential, Commercial or Industrial Estates as well as any other Buildings and Infrastructure. Please contact us for more details.

Join us on Facebook

Plots in D-12, E-12 sectors: CDA prices more than the market’s

Written on . Posted in News

ISLAMABAD: A recent Capital Development Authority (CDA) advertisement offered 90 residential plots in the high-value sectors of D-12 and E-12.

But the prices demanded for them are way beyond the market prices prevailing in the developed areas of the sectors.

“Until now one could buy a 500 square yard plot of his choice, such as a corner plot or the last one in a dead-end street, for Rs27.5 million in the market.

The CDA advertised prices could well escalate the market prices,” a property consultant doing business in sector D-12, Rana Murtaza Faheem, told Dawn.

That is not the only, or the most bizarre, oddity he noted in the advertisement. “It is quite strange that the CDA is offering plots in E-12 which is in adverse possession,” said Faheem, meaning the land CDA has offered is not in its possession, or at least is disputed.

Indeed, claimants to the E-12 land blocked the CDA attempt to laying the road network in the sector, which it had been developing since 1970.

However, the CDA feels smug about its marketing strategy.

“It will be wrong to find faults with the CDA sale pitch. All the financial parameters are in accordance with the technical and marketing data gathered by our planning, estate and financial departments for the auction of 90 plots in the two sectors,” asserted the CDA spokesman, Dr Naeem Rauf, to Dawn.

“Finally, the CDA Board formulated the strategy for auctioning the 90 residential plots in a smooth and transparent way,” he added.

“CDA’s plots have no correlation with the property market and our prices are based on our own assessment of the demand for our plots.”

But what about the issues in E-12?

“We have no issues in sector E-12,” retorted the CDA spokesman. “Only a limited area of the sector is under the adverse possession and our land directorate is working to resolve the land compensation issues and all such pending would be resolved within shortest possible time.”

In its Aug 23 advertisement for the auction of the 90 plots, the CDA has put the prices of plots in E-12 at Rs28.2 million for a 600 sq yd plot, Rs23.5 million for a 500 sq yd plot, and Rs16.7 million for a 356 sq yd plot.

In the more picturesque D-12 sector, in the foothills of Margallas, the starting price of a 500 sq yd plot in the auction would be Rs31.3 million, and of a 356 sq yd plot Rs22.3 million.

Bidders have to pay Rs5,000 for the application form and its processing fee, and 50 per cent down payment of the plot applied for, and also bear any taxes imposed by the government.

Bidders successful in the balloting for the allotment of plots will get a five per cent discount if they pay the remaining 50 per cent within seven days of issuance of intimation letter by the CDA.

Expatriate Pakistanis participating in the auction, set for October 7, 2013, can pay their dues also in US dollars but, like other unsuccessful bidders, will get their refund in Pakistani rupees – three months after the ballot.

Source: Plots in D-12, E-12 sectors: CDA prices more than the market’s

Invitation to Investors

YOU ARE OUR VALUED CLIENTS. We appreciate and always remember this fact. We have built close relationships with some large investor groups, and are interested in expanding these and exploring how Paras can be of service to you. Paras would like to invite more investors to join us.

Real Estate Development

We offer our services to make innovative housing societies. Create, Develop and Manage state of the art Affordable and Accessible Housing schemes under the supervision of our experts.

Real Estate Evaluation

Our team of qualified experts offers Real Estate Evaluation services for accurate real estate valuation which is important to mortgage lenders, investors, insurers and buyers and sellers of real property.

Real Estate Marketing

For your Real Estate Branding, we develop a customized marketing system by creating and implementing a unique marketing strategy. We analyze, strategize and then create a custom program for you.

Project Management

We provide Project Management services under the supervision of our qualified and experienced management specialists.

Construction Wing

Our multi-professional, multi-talented experienced team offer services in Construction, Renovation and Maintenance of your building/project.

Engineers, Architects

Our expert, certified/licensed professional engineers and architects provide best services in planning, design and construction.

Industrial Projects

Our teams of experienced engineers provide services from planning, construction and installation to production and management of projects.