Lifestyle Residency is a mega development project of high-rise luxury apartments complex in sector G-13 Islamabad sponsored by FGEHF and EHFPRO. The apartments were sold to general public at high prices, while federal government employees were given 50% discount on apartment’s price.
Due to low prices of FGE quota apartments, general public quota apartments are very hard to sell in the market. Property dealers and investors normally prefer to buy FGE quota files, and those files keep trading in the market at good profit.
In order to support general public, EHFPRO had suspended sale and transfers of FGE quota apartments. This suspension helped general public quota apartments a little, as investors didn’t prefer to buy these apartments at double prices. This ban on transfers slowed down the sale purchase activity, and also created a big issue for Federal Government Employees who couldn’t continue their installments or wanted to sell their apartment due to financial issues.
In a newsletter this January, EHFPRO has decided to lift this ban on sale and transfer of FGE quota apartments. The employees must, however, clear their outstanding dues and surcharges before transfer of their apartments.
Following is a copy of the newsletter by EHFPRO:
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