Bahria Town’s development speed in Karachi has everyone talking. Despite running into some trouble with some of its other projects, it has continued moving forward in Bahria Town Karachi. Even when investors shifted focus to Gwadar, the value of property in Btk did not slow down.
Although it piqued investor interest quite a bit, Bahria Paradise forms were being sold at a loss. The project was planned without the developer releasing much information and then some details trickled out during April 2017. On April 27, the project was officially launched.
Why the loss?
From the very beginning, the forms of Bahria Paradise were being sold at a loss, and it has happened with Bahria Town projects in the past. My sources tell me that there is nothing alarming about it. As soon as the forms were offered, agents started to overbook them, which pushed their prices down. Once the files reach end users, the prices are expected to increase once again.
Moreover, when the management holds the ballot and launches the map of the society, interest in this venture will grow. Just like Bahria Town Karachi itself, I wouldn’t be surprised if interest reaches near frenzy when development work starts. At the moment, development work is expected to begin during the second half of the year.
Linkers Realty CEO Santosh Kumar, who operates in Bahria Town, echoed similar sentiments. He said that although the forms were going in minus, this didn’t indicate in any way what the future holds for Bahria Paradise. He conceded that right now activity is down due to Ramazan and he predicted that things would pick up after Eid and prices would increase.
The current situation
The location of Bahria Paradise is in Precinct-16, Bahria Town Karachi. It is just 4km away from the Super Highway.
The project seems to be an attempt at improving the already very-high housing standards of Bahria Town. It features a 36-hole PGA-standard golf course, carnival park, night safari, Rafi Stadium and the Roots Millennium School.
Bahria Town’s management has offered forms for 250-, 500- and 1000-yard2 plots and 500 yard2villas. Plots and villas can be acquired on a 4-year instalment plan, with possession in only two years. Check out the payment plan below:
|Plot Size||250 yard2||500 yard2||1000 yard2||Villas (500 yard2)|
|Processing Fee||PKR 10,000||PKR 15,000||PKR 20,000||PKR 25,000|
|Down Payment||PKR 625,000||PKR 950,000||PKR 1,375,000||PKR 2,490,000|
|Sixteen-Quarterly Instalments||PKR 331,250||PKR 537,500||PKR 992,188||PKR 2,250,625|
|Total Amount||PKR 5,925,000||PKR 9,550,000||PKR 17,250,000||PKR 38,500,000|
Should you invest in Paradise? That depends on what you are thinking in terms of the duration of your investment. For short-term investors, it may not seem like a great idea to invest given how the prices of forms are low at the moment. For long-term investors, the project is expected to bring in big profits in the future.