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The Life Residencia Announces Ballot Date & Buy Back Policy

The Life Residencia

The management of The Life Residencia Housing Scheme organized an event at the project site on Saturday, September 18, 2021 to share some important updates regarding the project ballot and buy back policy. The event was attended by a large number of investors/realtors from Islamabad and Rawalpindi and some very important announcements were made by Mr. Sardar Tahir, Managing Director Sales, The Life Residencia.

Multiple Entrances

During his speech, Mr. Sardar Tahir confirmed that the Life Residencia is going to have multiple entrance points. The existing entrance from Rama Road is the one operational now, however other entrance points could be opened from Fateh Jang Road, PECHS, as well as CPEC Road in future.

Buy Back Policy

In order to improve prevailing market prices and facilitate investors, the society has announced a buy-back policy. According to the policy, the society will buy back its 5 marla residential plot files at the following rates:

  • 3.25 lacs from September 25 till October 31
  • 3.50 lacs from November 01 till December 31

This announcement has affected the prices positively as floor prices have been set so market prices are above these rates at present. 

Balloting News

Another important news that was announced during the event was about the balloting of plots. The society is going to conduct computerized ballot of all existing active residential plots on 25th of November 2021.

The balloting criteria has been defined, as mentioned below:

  • Best location plots, i.e. Category plots (corner, main road, park facing) will be given to those who have purchased plots on full payment.
  • Other good locations will be given to those who have purchased plots on half payment.
  • Remaining plot numbers will be given to those files where at least 3 installments have been paid.
  • Less than 3 installment paid files will not be included in the ballot.

This is a big development in the offing for The Life Residencia as the society will essentially release its master plan map after the balloting. Those who are going to keep their plots in the society are recommended to pay at least 3 installments in order to be eligible for balloting and avail this opportunity to get plot numbers.

As the development work is going on smoothly and the society has acquired some new land around the existing development area where earthwork has started, we can expect some improvement in short term, especially after the balloting.

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