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