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Property Tax Defaulters Penalized

Uncategorized February 15, 2014

Pakistan Property And Real Estate News By arenrealestate.com

Lahore – Excise Department has issued notices with 14% penalty to 40 thousand property tax defaulters for the year 2012/13. The department has also issued these notices to the tax defaulters of 2013/14, with 5% penalty.

Defaulters have been warned that their properties will be sealed in case of non-payment of tax. The department has directed related officials to cater to the appeals of the people, so that tax could be recovered from appellants as well.



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LDA’s Two Personnel Transferred

Uncategorized February 14, 2014

Lahore – The Director General of LDA (Lahore Development Authority), Ahmed Khan Cheema has transferred Deputy Director, Muhammad Zeeshan, from Directorate of Estate Management, LDA Avenue 1 to the Directorate of Estate Management One.

Moreover, Assistant Director, Muhammad Mahmood Aslam has been transferred to the Directorate of Estate Management, LDA Avenue 1, as Deputy Director, on the same pay-scale.

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DHA Phase-8,Karachi Ground-breaking Ceremony Held In Sector E,

Uncategorized February 12, 2014

Karachi – Brig. Mohammad Abdullah, DHA Administrator, performed ground-breaking of development work in Sector E, Phase 8, DHA Karachi. A simple ceremony was held in this regard.

In one of the statements, DHA issued that the phase 8 constituted almost 45% of the DHA Karachi and it is divided into 6 sectors. Sectors A and B are already open for construction and currently development work is being undertaken in the remaining sectors.

The development work of Sector E will include construction of sewerage lines, development of roads and storm water drainage system.

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A quick walk through the history – Bahria Enclave Islamabad

Uncategorized January 13, 2014

Bahria Town launched its first ever Islamabad project i.e. Bahria Enclave Islamabad in July, 2011. After the success of Bahria Town Project in Rawalpindi, this new project in Islamabad received a very impressive response from the market by both the residents and investors. During the same time, CDA had also launched Park Enclave Islamabad. The brainy management of Bahria Town they befittingly utilized the name of Park Enclave project in their marketing campaign with a slogan, same location as Park Enclave but exactly half in prices. This marketing strategy proved to be very successful for the Bahria Enclave project.

Bahria Enclave featured 10 marla and 1 kanal plots initially on installments of one and a half year time frame, price of 10 marla was Rs. 30 Lacs and that of 1 kanal was Rs. 60 Lacs. The booking of plots in Bahria Enclave got completed very soon as the people blindly trust the brand name of Bahria Town because of their track record of following excellent development standards. The map was available at the time of launch and people had selected plots as per the initial map, which is now a day known as Old Map in the market.

Once the registration got completed and people started to explore the location of project on ground, it surfaced out that this project was not exactly opposite or even close to location of Park Enclave. The actual location of Bahria Enclave was few kilometers away from the Park Enclave and this was a bit disappointing for the investors. The access roads to Bahria Enclave were also not good at that time, so there prevailed some disappointment in the market about the project in initial days for obvious reasons.

Due the said disappointments, the market went down and people were willing to sell plots in less price for quite some time. However, one thing was positive, that the development work was started at the time of launch and continued without a halt at all times. Slowly and gradually, the project got momentum and the things moved in positive. The entire access roads were developed by Bahria Town itself which was the responsibility of civic agency.

Bahria Town has acquired more and more lands in the adjacent areas and increased the size of this whole project many folds. They have launched plots of different sizes at different times with increased prices every time. The development of project went at an exceptional pace and the possession to Old Map (10 marla and 1 kanal) plots were given before the promised time. The prices of these plots increased to an unbelievable level at the time of possession. Back then, 10 Marla plots was trading plots Rs 60 to Rs 90 lacs and the rates of 1 kanal was between Rs 110 to Rs. 130 lacs. So, this increase in prices in the time frame of about one year was surprising for many folks. Wherein, the project of Park Enclave still does not have any future, due to no interest from civic agency.

The possession area of Bahria Enclave is beautifully designed and developed. People have started construction of houses. Around 60 houses have already been built. Development of multi storey apartments is in their final stages. Few commercial plazas have also been built. Construction of a mega mall known as The Mall of Islamabad is going on at good pace. The Mall of Islamabad is expected to become one of the most beautiful malls of RWP/ ISD in the coming future. This mall will be like Centarus of Blue Area, Islamabad.

Right now, a lot of other activities are also going on in the locality, attracting investment worth of billion of rupee. So, on face of it, this project has a very bright future. It would be one city within the city itself. The environment is very serene and beautiful. The prices have increased a lot since its launch, so, further increase would be steady. One should not expect sudden rise of millions of rupees in weeks. This project still has some issues of NOC from CDA, but these issues are likely to be resolved soon and by that time, we can expect to witness handsome increase in plot prices of Bahria Enclave Islamabad.

One issue with this project is the possession of new map consisting of 5, 8, 10 marla plots. People have completed installments for those plots, but still there is no possession or even location is known to the people. One thing is encouraging that development is going on at a good pace in that area, the unofficial map is also available in the market through different sources. The possession for the same is expected by the end of this year or mid of 2015. If the numbers are allotted to the new map on this finalized map, the prices will shoot up like anything.

Recently Bahria has launched new plots of 5, 10 and 20 Marlas available on three year installment plan. People were hoping to bag profit of around 5 to8 lacs in just few days, which was not supposed to happen. There were some factors contributing towards this failure of new launching; the procedure adopted was not correct i.e. selling through dealers, non disclosure of map and location, no idea about number of plots sold and relatively higher prices. In my personal view, this is good investment option for at least 1.5 to 2 years time frame. Not recommended for short term return investment as it could go either way, so amount of risk is involved in short term investment plans.

In the end, I would summarize that Bahria Enclave Islamabad has a very bright future despite all associated controversies. Issuance of NOC by CDA for the project will b a milestone as it will boost confidence of the genuine buyers.

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Bahria Town Karachi Plans To Launch Its Master Planned Gated Community Soon

Uncategorized January 10, 2014

Karachi – Bahria Town unveils its plan to launch its master planned community in the coming days. Bahria Town Karachi will feature residential plots of 125, 250, 500, 1000 and 2000 Square Yards and commercial plots of 125, 200 and 500 square yards.

The individuals who have original registration forms or original registration transfer certificates, allotted to their names, will be eligible for bookings against their names, on project launch. However, the individuals who possess original registration open certificates will be able to get booking forms from the dedicated bank branches or Bahria Town offices.

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SHC Seeks Original Lease of Land From DHA

Uncategorized December 23, 2013

Karachi – While hearing a case about the violation of PPRA rules violation by DHA for undertaking development on amenity plots, the Sindh High Court directed Defence Housing Authority to file original lease for the land under question in DHA Karachi, phase 8.

The petitioner, Zahidullah Khan, a resident of DHA has sought an injunction against the development work being undertaken by DHA on amenity plots, allocated for a sewerage treatment plant, a school, a graveyard and a park

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CDA Liable To Pay Rs. 2 billion To IESCO

Uncategorized December 23, 2013

Islamabad – IESCO (Islamabad Electric Supply Company) has slapped a final notice on CDA (Capital Development Authority) regarding the settlement of outstanding power supply bills, after which IESCO will cut the supply.

CDA is liable to pay Rs. 2.09 billion to IESCO and it tops the list of defaulters who have been served final notices by IESCO for the payment of outstanding bills. A deadline till 26 December has been given, after which the power supply will be cut, if CDA would not settle the charges.

758 total views, 1 today

Bahria Town Karachi Cautions The Public

Uncategorized December 19, 2013

Bahria Town Karachi brings it to the notice of general public that the Bahria Authority has neither acquired someone else’s projects nor it is interested in doing so.

Some people are speculating that Bahria Town Karachi has purchased projects from some people, companies and groups. However, Bahria stultifies this rumor by bringing it to the notice of general public.

Bahria further extrapolates that it undertakes all the development phases (location, planning, development and maintenance) on its own behalf and this aptitude is the guarantor of Bahria Town’s quality.

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LDA’s Parking Plaza All Set For Business

Uncategorized December 16, 2013

Lahore – LDA (Lahore Development Authority) completes the construction of a commercial parking plaza in Allama Iqbal Town, Lahore.

This multi-storey commercial parking plaza has been built at a cost of Rs. 800 million.

On 16th December, 2013, about 20 shops on the different floors of the plaza will be auctioned by LDA at its Community Centre, under Auction Committee’s supervision.

With the aim of fulfilling the parking needs, the project was commenced in February, 2012 on the directions of Shahabaz Sharif, Chief Minister Punjab. The project was handed over to a private developer in 2012 and LDA spent Rs. 800 million on this project, which are supposed to be recovered through the auction of parking lots and shops in the plaza.

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IMC Takes Charge Of Several CDA’s Departments

Uncategorized December 14, 2013

Islamabad – IMC (Islamabad Metropolitan Corporation) will take charge of several department of CDA (Capital Development Authority).

According to a Local Government Bill of 2013, CDA would shift many departments along with thousands of employees to Metropolitan Corporation.

Being in charge of the new departments, IMC will be responsible for the implementation of by-laws in the capital city. The corporation will also be responsible for providing municipal services and drainage plants. Moreover, the IMC will be required to take initiatives to improve municipal structure of Islamabad.

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Two Officers Of LDA Transferred, One Suspended

Uncategorized December 11, 2013

Lahore – DG LDA, Maryam Kiyani transferred the Assistant Director, Muhammad Umar Naseem from Directorate of Estate Management to the Directorate of Hidden Properties.

Moreover, the newly appointed Assistant Director, Saad Altaf has been transferred to the Directorate of Estate Management.

The estate officer, Muhammad Mutahir Ameen Hayat Wattoo, who was appointed at Directorate of Estate Management, has been suspended. He has been ordained to report to the Directorate of Administration.

803 total views, 0 today

Punjab Government Issues Final Warning To The Industrial Units

Uncategorized December 11, 2013

Recently, the Government of Punjab issued notices to the industrial units working in the residential areas to shift from residential regions.

Now the City District Government issues a final warning to the industrial units to shift within the time span given. For the benefit of Industrial Units’ owners, the Government of Punjab has allotted a specific space at Sundar Industrial Estate.

It has been strictly presaged that the industrial units in residential areas will be sealed if they will not be shifted in the given time.

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  • Development Package Approved For Azad Kashmir Rs 3.4 Billion

    by on October 5, 2012 - 0 Comments

    Several development schemes have been approved by the Cabinet Development Committee of Azad Jammu and Kashmir on Wednesday 3rd Oct, 2012. The estimated cost of these uplift schemes is Rs 3.4 bn. Many members of the cabinet find the amount far less than the bailout package of Rs 20 bn which was reportedly promised by […]

  • CDA to expedite construction work on Margalla Avenue

    by on May 2, 2013 - 0 Comments

    The Capital Development Authority (CDA) will expedite construction work on Margalla Avenue and hurdles in this regard will be removed for early completion of the avenue. According to CDA spokesperson, the workable plan would be chalked out so that it could be linked to some major avenues after passing through Sector D-12. He told APP […]

  • All Patwari And Land Registrars Of Lahore Transferred

    by on April 20, 2013 - 0 Comments

    The latest scam to come to light occurred in Shahdara Patwar Circle a few months back. Over 200 mutations (land transfer deeds) of commercial and residential properties in that circle were registered, verified and passed on the basis of fake stamp papers and signatures of the sub-registrar. The fraud, which had been taking place for […]

  • Registration Commences For Bahria Town Karachi Projects

    by on September 24, 2013 - 0 Comments

    Registration has been started for Bahria Town Karachi projects. Now people can get themselves registered and become a member of Bahria Town Karachi. Registration is important because the registered members will have an opportunity to book properties at the time of launch. Registration forms can be downloaded from Bahria’s website and can also be taken […]

  • Bahria Town Karachi Forewarns The People

    by on November 20, 2013 - 0 Comments

    Bahria Town Karachi brings into the notice of people that they should know the following points regarding the sale/purchase of registrations in Bahria Town Icon (Shahra e Firdausi), Bahria Town Tower (Tariq Road) and Bahria Town Karachi (Master Planned Community). 1) Registration fees against the registration forms were submitted to the Bahria Town Office and […]

26 commercial properties sealed in lahore A Land Scam In Gujar Khan City Is Exposed A Quick Look At CDA's Performance Azad Kashmir Development Package approved CDA's Housing Monetisation Islamabad CDA's Housing Monetisation Plan CDA Accused Of More Littering In The City Cda Auction is restricted again CDA Auction Is Restricted Again Arenrealestate cda Auction Restricted CDA given 2 days to remove kiosk of minister`s brother cda given 2days kiosk minister brother CDA has been littering sectors after sectors. CDA Housing Monetisation Plan CDA Litters more than clears CDA Will Auction Residential And Commercial Plots development package approved azad kashmeer Development Package Approved For Azad Kahmir Rs 3.4 Billion district government begins work on restoration Project District Government Begins Work On Restoration Project In Lahore Flyover Project in Karachi Has Been Laid Flyovers fly overs Foundation Stone Of Another Flyover Project In Karachi Has Been Laid Javed Iqbal Awan Becomes the new CDA Chairman Land Hunt For Industrial Zone begins Land Hunt Industrial zone land hunts for industrial zone land scam city gujar khan Land Scam gujar khan land scam in Gujar khan LDA Plans Probes Housing Schemes affairs LDA plans probes into housing schemes affairs mega project are univeiled by CM Punjab Mega Project are unvelied by Cm Punjab New CDA Chairman Javed Iqbal Quick look CDA Performance real estate Reconstruction Multan Road Reconstruction of Multan Road residential shortage of around 8 million houses in Pakistan The Lahore Development Authority’s sealed 26 commercial properties The New cda chairman There is a shortage of around 8 million houses in Pakistan