Like many housing schemes with easy access to Islamabad International Airport, Islamabad Cooperative Housing Society (ICHS) has also attracted the interest of investors in particular. Another reason why it can be considered, is its extremely affordable prices and how well-connected it is to some of the best infrastructural developments in Islamabad. State Life Society is also located nearby. So, if you are interested in the housing scheme, here is all you need to know about it.
Amenities, development and possession
According to Tahir Associates CEO Waqas Tahir, ICHS has now spread over around 7,000 kanals, divided over Phase I and its Extension, which is a separate part of it. Its location is rather remote but that ensures that it will eventually cater to middle class families and provide them with a quality lifestyle.
The society had promised a range of amenities including schools, hospitals, a park, 24/7 security surveillance, a jogging track, a commercial area, mosques, and a sports complex. A large amount of space has been allocated to the parks.
According to Waqas Ali Butt of Al Rehman Property Estate Advisors, the development had rather slowed in the housing scheme previously but after the interest in Islamabad International Airport reached a fever pitch through last year and this one, so the interest in ICHS increased and its development picked up pace, as did its prices. Now, its main boulevard has been carpeted, the gate, and boundaries complete and other roads have also been significantly constructed, though not carpeted.
The streetlights on the main boulevard are being run by solar energy, and generators have also been installed. The electricity connection will also be provided in about two months. Similarly, gas has arrived at the gate, Tahir explained and when the construction of houses begin, they will be provided the gas connection. Sewerage work has also been completed.
Following are the picture provided by Waqas Tahir that show the latest state of development in ICHS Town:
Finally and, most importantly, according to both Butt and Tahir, possession is expected to become available in the Phase I in about 6 to 10 months. In the Extension, according to Tahir, it will become available in about 2 to 3 years.
NOCs
According to Tahir, the housing scheme already has all the requisite NOCs. Here are the complete details provided for all the NOC’s obtained by ICHS:
- Cooperative Societies: Registration No. 313, Co-operative Societies Department, ICT, Islamabad.
- Tehsil Municipal Administration (TMA): NOC No. 567/SL/N-I/TP/TMAF from Tehsil Municipal Administration (TMA), Fateh Jang.
- Ministry of Defence: NOC No.6/53/Misc/D-28/2008 from Ministry of Defence, Government of Pakistan.
- Civil Aviation Authority (CAA): NOC No. HQCAA/1124/44/ATS(P/C) 2693 for Construction from Civil Aviation Authority, Headquarters, Karachi.
- Environmental Protection Department: NOC No. DD(EIA)EPA/F-80(IEE)/0307/2009/2892 from Environmental Protection Department, Government of Punjab.
So you can confirm these NOCs and be sure that your investment will be completely safe.
Prices
In Phase I, the 5-marla plots are priced between PKR 800,000 and PKR 1.1 million, while 1-kanal plots are priced around PKR 2.2 million and PKR 3.5 million.
In Extension, the 5-marla plots are priced at around PKR 300,000, available on the launch price; while 1-kanal plots are available for around PKR 1 million, which is around PKR 500,000 below the launch price.
Investment options
Tahir was of the opinion that investment can certainly be considered in ICHS. He explained that anyone who is looking to invest should keep a period of about a year in his mind, as possession will become available in about that time.
Similarly infrastructure is being developed, CPEC road is nearby, so is Kashmir Highway, the roads are being constructed, moreover, Islamabad International Airport has been inaugurated and it will continue adding value to the housing scheme, so in about a year, high returns can be expected.
What is your opinion on ICHS? Do you have any questions about it? You can talk to us in the comments section.
No comments:
Post a Comment