Bahria Town Karachi (BTK) is one of the most high-end residential projects in the city by the sea. Though the project has been embroiled in various controversies because of the alleged illegal allotment of land for BTK by government bodies, the current state of affairs is very different.
Despite the controversies, Bahria Town never stopped development work in BTK, which continues at an exceptional pace. Even investors do no pay heed to the rumours anymore.
The impressive pace of development has helped Bahria Town deliver early possession of various projects in BTK in the past. And on March 23, the developer plans to grant possession of Bahria Apartments (Towers I, III, VII, and IX) and Bahria Golf City (Overseas Block).
Bahria Apartments feature 2-, 3-, and 4-bedroom apartments boasting modern designs and international-standard fixtures and fittings. Bahria Town had sent intimation letters to apartment owners and had asked them to settle their accounts in order to get possession of their respective unit. According to a notification displayed in Bahria Town’s office in Karachi, those failing to clear their accounts will have to forfeit their apartments and the developer will give these apartments to other deserving members.
Bahria Golf City (Overseas Block), on the other hand, features 500-, 1,000- and 2,000-square yard residential plots and 500- and 1,000-square yard luxury homes. The project has a 27-hole PGA standard golf course with an excellent security infrastructure and round-the-clock power backup.
BTK is performing outstandingly in terms of sale-purchase activity these days. According to my sources, overseas Pakistanis and genuine buyers are taking massive interest in the project.
Bahria Sports City, in particular, has performed remarkably and plots in the locality are being traded on profit. In addition, if you are a real estate builder you should consider Precinct I, where Bahria Town has already handed over possession. You can build a house here and sell it while securing a massive profit margin.
According to Zameen.com’s stats, prices of 500-square yard and 250-square yard plots in BTK registered an increase of 3.98% and 6.57% in February. Simply put, BTK is a project worth considering for investment in the current scenario.
On the other hand, some of Bahria Town’s projects in Lahore and Islamabad/Rawalpindi are facing delays because of unknown reasons. Bahria Town Lahore Sector F investors, who have faced problems because of delays caused by unknown problems, are still waiting for a resolution.
Similarly, Bahria Town is yet to compensate plot owners who had to forfeit their plots because of the development of the Lahore Ring Road in Bahria Town. Even the affectees of Phase IX in Bahria Town Rawalpindi are totally uninformed about what is going on with the project.
Bahria Town has set new benchmarks in the real estate sector of Pakistan, but the developer has to find solutions to the problems it is facing.
In any case, if BTK is anything to go by, Bahria Town is not planning on slowing down or taking a step back anytime soon. In addition, a resolution to the issues being faced by Bahria investors elsewhere will make itself obvious at the right time.