PECHS Islamabad Development and Prices Overview December 2016
PECHS Islamabad has seen least sale purchase activity over the year 2016. The society itself slowed down development activities which annoyed the potential buyers as well as those who are holding their plots in PECHS waiting for the right selling time.
Only development activity that can be seen in PECHS is going on in M block where the society had launched residnetial and commercial plots on installments in 2014. Remaining area is still lying as it was years ago. It is quite surprising that many developed blocks where electricity and gas facilities are available, there is no construction activity so far.
Major onus of this inactivity can be put on the shoulders of the management of PECHS who have failed to attract investors to this housing scheme despite having an excellet location on Fateh Jang Road opposite to PAF Tarnol Housing Scheme. If the society itself took some necessary initiatives like launching of villas, beautification of the society, construction of residential + commercial projects, opening branches of renowned schools or other institutions/businesses, provision of hospital, provision of well planned parks and recreational areas, there is no reason the society shouldn’t attract people seeking residence in the outskirts of Islamabad.
There is still a silver lining for the investors, as the location is the most important factor that can definitely earn you good return once the mega project of new Islamabad International Airport is open. A change in management committee of PECHS can also turn tables as the major issue observed so far is lack of attention of the management to the matters and issues of PECHS.
There has been no significant improvement in the prices of plots in PECHS over the year 2016 as the sale purchase activity was at its lowest. The society didn’t announce any new possessions, neither did it take any initiative to attract buyers. Pace of ongoing development work including development of M block as well as construction of the hospital near the gate of PECHS has also been horribly slow. The development work in previous blocks G, H, Parts of C,D and F and Part of B and C extension has still to be commenced, which seems to require a decade more for development.
Safe investment options in PECHS include commercials of C block and K block, as well as residential plots in A,B,C,D,E,K and M block. For C and D blocks, you need to be sure that you are buying something that is developed as some part of these blocks is non-developed.
Average price of 5 marla plots in PECHS is around 13 to 16 lacs, 7 marla price is around 16 to 20 lacs, 10 marla price is around 18 to 28 lacs and 1 kanal price is around 25 to 40 lacs. Average price of 5 marla commercial plots ranges around 45 lacs and bigger commercials normally range from 55 to 1 crore+ in different blocks.
The given prices are taken as a range of prices across different blocks, actual prices vary a lot in PECHS mainly due to supply/demand issue, development status, actual size of plot, and location of plots in a certain block.
The new year 2017 can change the fate of PECHS as well as all developed housing schemes lying close to the new Islamabad International Airport as the given date of official inauguration of the airport is 14th August 2017. If this project is operational on the given date, there can be big surge in overall property prices in this area including PECHS.
Considering the fact that PECHS has some serious management issues, here are a few suggestions for the management committee of PECHS that it may follow in order to make this housing scheme a success story:
- The society should immediately start development of its non-developed blocks. They can impose additional development charges on the members if budget is an issue causing delay in development work.
- The society should invest some resources on the beautification work like plantation on the roads, parks with kids play areas, construction of some monuments at major points and construction of a Masjid.
- The society should engage with major schools, colleges or universities to open their branches in PECHS by giving them incentive like low cost of land or any other benefits.
- The society should engage with private builders and investors to launch residential and commercial projects like villas, apartments and shopping mall.
- The society should make sure that it gets alternative access from Kashmir Highway after the road is open for traffic, as this will change the fate of the society.
- The society should encourage plot owners to construct their houses in PECHS after some basic infrastructure is in place. Non-utilization charges can be added or increased, and also the plot can be shifted to non-developed blocks after a certain period of non-utilization.
- Security and maintenance services should be made professional and up to the standards.
- Society should invest some resources on advertising its new ventures and plans so that the public should know what is happening in PECHS.
- Society should upgrade its official website and add latest development news and venture using images and videos.
- Society should register interested property dealers and offer incentives in new launches so that a proper market for PECHS dealings can be established.
We hope that PECHS has a much brighter future provided that its management understands the importance of the above listed suggestions. Even if a few of the above listed points are taken by the management, the society can definitely turn around since it has all the resources available and all it needs is a smart management team to implement some quick fixes and available solutions to the long standing issues.
Our valued readers can also share their suggestions to the society or any inside information about the future plans of PECHS using the comment form below.
The infrastructure, community areas development, possession and demarcation process should be expedite in order to attract investors to build & invest more. It’s is beneficial for society’s future!!