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.