When a project is new and in its initial launching stage, it becomes the talk of the town as everyone is eager to know more about its offerings and how it may fare in the future. Although Bahria Town Karachi (BTK) has been around for a while, new projects situated inside it keep popping up, including Bahria Sports City, Bahria Farmhouses, and Midway Commercial, among others. Needless to say, this helps retain investor interest in BTK as a whole, and the project keeps making headlines.
Let me tell you all about the latest BTK announcement and give you an idea of how it’s faring in Karachi’s real estate sector.
Investors of all BTK projects, including Bahria Sports City, Bahria Farmhouses, Midway Commercial, Quaid Block, Ali Block, and Bahria Heights, have been asked to pay their pending dues by March 15, 2016 in order to get allotment numbers for their respective apartments, houses, or plots.
The society’s management has stated that bookings that still have unpaid dues will be cancelled. Although the cancellation procedure has not been specified yet, precedents suggest that after a booking is cancelled, the investor may apply for a refund. Usually 25% of the paid amount is deducted and the remaining balance is given back to the investor.
However, since BTK is arousing substantial interest, I don’t think investors would want their bookings to be cancelled. Hence, all those with pending dues better hurry up and pay by the due date!
For those that have paid, read on to see how your investment is faring at the moment.
BTK’s current performance
While investor activity and price performance declined slightly during the past few months, it has significantly picked up again, just in time for spring. According to Munaf Shaukat Ali from Takaful Estate, BTK is doing very well and has bright future prospects, although slight price fluctuations can be expected.
Ali added that announcements regarding possession in Ali Block, Quaid Block, and the Overseas Block are expected in March. This will significantly boost investor activity. As for investment suggestions, he said that it depends on a number of factors, such as the amount of capital available, investment intentions, and holding power. According to him, Quaid Block and Bahria Sports City are both doing very well and can be ideal investment choices.
Development work in most parts of BTK is underway at a fast pace and is nearing completion. Blocks 1 to 20 are nearly 60% complete.
Thus, according to Ali, BTK will probably make investors very happy in the future and slight glitches are nothing to worry about.
That’s the latest scoop on BTK! Looks like the society is turning out to be a chocolatey delight! So pay up investors, you have about two weeks left.