DHA Peshawar balloted , Market trend ?
DHA Peshawar balloted , Market trend ?
The Defence Housing Authority Peshawar held a ballot to allocate plot numbers to plot files and plots offered on instalment plans on 25th December, 2017. It took a while for the market to settle on rates, because while DHA balloted plots in nine blocks, it only shared maps for Blocks A, B, and C. These are the blocks where the market rate of plots is currently the highest.
Here is the update you need on DHA Peshawar.
DHA has not shared the total number of plots balloted but it is known that over 4,000 plots of 1-kanal are located in Blocks A, B, and C. A safe estimate on it, as given by our sources, DHA balloted around 15,000 plots in Blocks A, B, C, D, E, F, G and I. As mentioned earlier, the DHA has only shared map for Blocks A, B and C. The ballot results can be checked on the official website of DHA.
About these maps
In the official maps for Blocks A, B, and C, the sites have not been marked for public facilities and commercial areas. These blocks only feature 1-kanal residential plots. The plot owners who have been lucky to get plots in these blocks do not know if their plot faces a commercial or a park as the map shows these areas as the reserved land. This may turn out to be favourable for some who wish to sell their plots right away.
From the last 10 days, determining rates for plots in different blocks turned out to be a tough deal because owners of plots in Blocks A and B have been asking for an amount ranging between PKR 6,500,000 and PKR 7,200,000, while the demand for plots in other blocks have been almost nil. The rates in Block C are relatively lower because many believe that this block will developed and delivered after Blocks A and B.
Sources also claim that the rate has been fixed at PKR 6,500,000 for 1-kanal plots in Blocks A and B, PKR 6,300,000 for plots of the same size in Block C, and PKR 6,000,000 for 1-kanal plots in all other blocks.
Since the demand is high for 1-kanal plots, we have failed to get accurate figures on rates of 10-marla and 5-marla residential plots.
Like stated earlier, the demand is higher for 1-kanal plots in Blocks A and B, so many authorised agents of DHA Peshawar are busy catering to it. Some of the people who mediated the deal for these plots told us that the deal was done for PKR 6,500,000 for general category plots. Some agents also claim to have sold plots having good locations at PKR 7,000,000.
DHA is yet to announce development charges on balloted plots and their payment schedule. The market is still being flooded with certain rumours about these charges. Some agents, quoted the figures of PKR 2,000,000 for development charges of 1-kanal residential plots, PKR 1,300,000 for 10-marla ones, and PKR 900,000 for 5-marla plots. Their veracity cannot be confirmed until DHA itself announces them.
What should you do as a buyer?
Agents and expert are of the view that the market rate for these plots will fluctuate many times before settling down. It has been observed in the past that the final rates after the fluctuation are often higher than the initial rates. In fact, the fluctuation facilitates the rates to ascend beyond the previous highs. So if you are looking to purchase DHA Peshawar, which is now closer to seeing initiation of full-fledged development work, you should go ahead with it.
What should you do as a seller?
If your plot is in Blocks A, B or C and you can wait for one and half year, you can score bigger gains, our sources believe. They assessment rests on the fact that with develoapment work getting in advance stages one and half year down the lane, genuine buyers will be tempted to make an entry, inflating demand for these plots. By then, the market price for 1-kanal residential could be somewhere near 10 million.