Sector E-12 Islamabad - Will new Changes In The Plan Encourage Investment?
CDA has always become very popular for the outstanding planning and development in Islamabad. Islamabad is the capital of Pakistan and has divided into 5 zones. The borders of Islamabad have been expanding towards zone 2 and zone 5.
Many sectors are under development phase over there and E-12 Islamabad is among one of them.
Sector E-12 is situated at a prime location in the center of Margalla Hills near sector E-11. It is at a closed distance to the tomb of Golra Sharif In Islamabad. E-11 is at a distance of 5 km from the New International Airport Islamabad.
CDA has allotted 2730 plots to the general public and other employees while 1700 plots were allotted to in-service and retired Federal employees. The prices of this sector were announced and balloting was held in 2013.
What Is The Issue With E-12?
Even though the project was launched 28 years ago by the CDA but still the authority has managed to acquire 30% of land for the development process. The main issues are the availability and arrangement of funds. CDA has been trying for many years to arrange the funds required for this sector. According to the 2017-18 budget, CDA has reserved 11 billion for the remaining pending projects.
During the launch of Sector C-15, the affecters of E-12 have 5tracked their issue to the Supreme Court. They have appealed to the high court that this sector needs to be developed first. CDA has approved the request and ordered CDA to resolve their issues and complete the development process in this sector.
What Is The Recent Update Of E-12?
Only sector E-12/2 has an acquired land till now. While the land for E-12/1, E-12/3, and E-12/4 are in the process of taking possession. There are 500 families who are residing in E-12 and not in that mood to sell their land to CDA.
There are rumors about investors that they were given compensated plots in Sector I-12. They have also reserved plots in sector E-12. Different meetings were held between NA Standing Committee and Sub-Committee from January to May 2017.
What Is The Price Impact On E-12?
If we compare the price trends then it is obvious that prices are comparatively low in E-12 for apparent reasons. The property prices in E-12 bump into an appreciation of 10% after balloting. The prices are still until there will be any movement in the development work.
A very odd trend has to be seen in the prices of plots in E-12. The prices have been changed now as compared to the prices at the time of launch due to depreciation. These prices have been depreciated by 26% approximately since the balloting year.
14 Marla plot has decreased in prices from 2013 to 2017 by -25.3%
20 Marla plot has decreased in prices from 2013 to 2017 by -23.4%
24 Marla plot has decreased in prices from 2013 to 2017 by -29.1%
It is likely to expect that the funds that have been allocated in the budget might not be enough for the pending projects. It will take years to develop. If you are interested to invest in this sector, you have to wait until 2018
For further details about that particular sector, visit our forum.
December 15, 2017 AT 11:30 AM
Hope to see something good in future.