DHA Homes Islamabad Refund & Adjustment Policy Announced
Defence Housing Authority Islamabad has announced a refund/adjustment policy for its project “DHA Homes Islamabad“. Since the project is much delayed already, DHA has come up with 3 different options for those members of DHA Homes who own old files which do not exist on ground.
Following 3 options are being offered to DHA Homes members:
- DHA will refund actual paid amount plus additional rebate of 0.6 million (6 lacs) for 5 marla home and 0.8 million (8 lacs) for 8 marla home.
- Members can opt for 5 or 8 marla residential plots in DHA Valley where possessions will be given by June 2021. DHA will deduct cost of plot and refund remaining amount to the members.
- If members stick to the original plan, DHA is committed to providing a home at a price determined at the time of handing over. Normally cost increases 6 to 8 percent per annum.
If we analyze the above 3 options, the first one is hardly acceptable for majority of people as refunding amount with little rebate makes no sense as actual value of homes is almost double of the paid amount.
2nd option is still quite reasonable, as developed plots have higher value in market, and at least you will have a plot to build your house. If DHA deducts cost of plot, it makes nearly 9 lacs for 5 marla and 14 lacs for 8 marla, you will have a plot worth double of the cost, and remaining amount will be refunded to you that can be used for construction.
Third option is the best one, provided that DHA doesn’t delay this project any further. Sticking to home at 6 to 8 percent per annum will be suitable if DHA provides homes within next 2 years. If DHA doesn’t give a definite time frame, it could be a risky option as cost may escalate beyond current value.
DHA has asked members to confirm their options latest by June 20, 2021 for further action, so you can get all requisite details on third option from DHA and then decide.
Following is a copy of the notice issued by DHA Islamabad:
