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Latest Updates About AWT Rawalpindi

Posted by mimran on June 24, 2018
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Army Welfare Trust (AWT) Housing Scheme Rawalpindi is another project located near Zone II Islamabad. A housing project by Askari Real Estate Ltd. Like the other AWT housing schemes in Peshawar and Lahore, AWT Rawalpindi was also launched for retired army officers and for the families of the martyred officers with quotas for civilians.

Located in Sangjani, near the new Islamabad Sector D-18, it is an old project that was approved in 1996. The rather remote location was what made its development slow. However, now that Islamabad itself is expanding towards that area, it can expected to gain a renewed interest. Located near the housing scheme are a number of reputable societies in Islamabad including MOCECHS, Wapda Town Islamabad, and PECHS. MPCHS’s Multigardens B-17 is not located far off either.

In terms of infrastructure, the airport is still nearby but not right in the vicinity, so while AWT will benefit from it, it will be a while until the effects of population transfer in the can be properly seen. Another great thing about the project is that it is conveniently connected to both Islamabad-Peshawar Motorway and GT Road.

State of development and construction

Comprised of eight blocks – named from Blocks A to H – most of the basic development is complete. The roads have been carpeted and all the basic utilities including gas, water, and electricity are easily available. Moreover, possession is available throughout the housing scheme. There are plans for the construction and development of parks, mosques, and a commercial area. However, according to Ismail Khan of Ismail Properties, this can only be expected once the construction of houses has begun.

The location, remote as it is, has contributed to the little construction that has taken place in the housing scheme. Not many houses have been constructed so far. According to Khan, only a few houses have seen any construction. However, he believed that this can be expected to change soon because of all the factors mentioned above.

State of market

The market, according to Khan, has been slow because demand has been low for the past couple of years. Since the development is complete, and possession is available, the prices will remain relatively stable until the interest in construction of houses begin, he felt. Then the prices might rise quickly. Currently, the prices in AWT Rawalpindi stand as follows:

Plot SizePrices in PKR
10 marla2,500,000—5,000,000
1 kanal3,500,000—7,000,000
2 kanal7,000,000—1,300,000

 

When to expect a change?

The situation is still uncertain, Khan felt. The housing scheme has a lot of good attributes: its location is gaining attraction by the day – and the upcoming infrastructural developments all go in its favour. However, it will all depend on when the housing scheme gains the interest of the homeowners.

The genuine buyers can still consider this project if they are looking to construct a home in a few years, Khan recommended. He had similar suggestions for the investors. If you are considering investment there, you will have to keep in mind that it will be a medium- to long-term investment.

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