It is among one of the few societies in the vicinity of Islamabad International Airport that has seen some sign of improvement after the facility was finally inaugurated on May 3. The property dealers operating in this project believe that the comparatively lower rates of plots in University Town is the main reason why I has beaten them all up in terms of demand and gradual yet consistent price appreciation.
Here is the latest information you need on University Town!
Project details
University Town is located on Kashmir Highway and can be seen from Lahore-Islamabad Motorway M-2 as it lies close to Islamabad Toll Plaza on M-2. The society is yet to have direct access from M-2, on which the work is underway, the completion timeframe of which is unknown. Despite being located close to many CDA sectors in Islamabad, the society is part of Rawalpindi, and falls in the jurisdiction of Rawalpindi Development Authority, which has also granted an NOC to it for all blocks.
The society currently has a total area of 7,500 kanals. It comprises of Blocks A, B, C, D, E, and F, where all blocks, except for Block F, has residential plots in sizes of 5 Marla's, 10 Marla's, and 1 Kanal. You can read our last update for the rest of the project details.
Development & possession status
The society’s formalities regarding the availability of utility services for Blocks A, B, and D has recently been completed. In this regard, the plot owners are also paying the utility charges on an instalment plan that spans four quarterly instalments, two of which have already been paid.
The developer has granted property possession in 90% of the area of Block A, while work is underway in the extension. In Blocks B and D, property possession is available for 70% and 85% respectively of the total area. In the remaining parts of all these blocks, work is underway on the laying of gas pipelines and carpeting of roads. While development work in Block C and E is underway, it is yet to kick off in Block F.
Although, the pace of development work is slow, it has improved greatly in the last three years, where the developer is now seen keener to complete the pending work, according to Zohaeb Akram of Deal Deals Associates. Akram has received similar feedback from the new and existing plot owners who see great potential in this project and believe that everything is on track.
A look at market rates
The society is with the end users now, which also means that all plots are available only cash payment. Here are the block-wise rates of residential plots in University Town.
| Block | Plot Size | Prices in PKR |
| 5 marla | 1,600,000—2,500,000 | |
| Block A | 10 marla | 3,300,000—3,700,000 |
| 1 kanal | 5,800,000—6,200,000 | |
| 5 marla | 2,200,000—2,400,000 | |
| Block B | 10 marla | 3,300,000—3,800,000 |
| 1 kanal | 5,800,000—6,200,000 | |
| 5 marla | 1,500,000—2,200,000 | |
| Block C | 10 marla | 2,500,000—2,900,000 |
| 1 kanal | 4,500,000—5,000,000 | |
| 5 marla | 2,200,000—2,500,000 | |
| Block D | 10 marla | 3,300,000—3,600,000 |
| 1 kanal | 5,900,000—6,300,000 | |
| 5 marla | 2,000,000—2,200,000 | |
| Block E | 10 marla | 2,800,000—3,100,000 |
| 1 kanal | 4,800,000—5,500,000 | |
| 5 marla | 1,600,000—1,900,000 | |
| Block F | 10 marla | 2,600,000—3,000,000 |
If you compare the above-mentioned rates with those recorded earlier in March this year by visiting this page, you will notice that rates have gone up for all plots in all blocks, and more in blocks where possession is available.
What’s next?
Well, nothing in terms of new booking and any change is not expected. What concerns the property owners and potential investors is the announcement regarding possession for plots in Block E. In this regard, an official announcement has now been made, but Akram expects that it could be handed over in the next six months.
Akram expects stability in market demand for plots in University Town, and thus expects the rates to continue to gradually up in the meanwhile. He is also expecting a rise in demand during and after Eid-ul-Fitr holidays. This only means that making a move right now could be the right thing to do if you know how to go about it.
Investment tip and warning
Akram currently sees high demand for plots in blocks where property possession has been granted. This could also be an indicator that construction of many houses could start soon in Blocks A, B, and D, making residential plots here experience a further rise in market value and demand. So, he recommends these blocks for short to medium term investment.
Many plots in Blocks C and E are lower than the ground level. Buying such plots, also colloquially termed as “plots in depression”, can be depressive for the end users, as construction costs on deep plots are much higher than the regular ones.
This is all we could share with you regarding University Town. If you have feedback on the article or any queries for us, let us know through your comments. And if you want to discuss your options further with a property agent, you can talk to Deal with Syed Khurram Gillani from Estate 4U by giving him a call on +92-321-987-8600.
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