The Government of Pakistan and the Capital Development Authority have decided to provide real estate investment opportunities in residential and commercial plots to Overseas Pakistanis in the new sectors C-14 and C-16. These new sectors fall along the newly developed Margalla Avenue that runs along the beautiful Margalla Hills. Margalla Avenue connects CDA sector D-12 to G.T. Road and has created a lot of excitement for investors in the CDA sectors C-14, C-15 and C-16.
CDA is currently preparing the scheme to auction commercial and residential plots in sectors C-14 and C-16 to Overseas Pakistanis. This scheme to auction residential and commercial plots in sector C-14 and C-16 is expected to be ready by May 15 2023. An announcement in this regard will be made by the Capital Development Authority accordingly. This is part of CDA’s strategy to encourage real estate investment by Overseas Pakistanis in Islamabad with confidence.
How can Overseas Pakistanis buy commercial and residential plots in CDA sectors C-14 and C-16?
Overseas Pakistanis will be able to participate in the open auction of residential and commercial plots in CDA sectors C-14 and C-16 through special facilitation desks setup at CDA office in Islamabad. Overseas Pakistanis will also be able to buy and sell the ‘CDA Overseas E-services’ website. This website has been setup to facilitate Overseas Pakistanis to book properties in projects offered by the Capital Development Authority as they are launched. Currently, the CDA is offering 2 bed apartments in Nilore Overseas Residencia Phase 1, Islamabad. The auction of commercial and residential plots in CDA sectors C-14 and C-16 will also be announced on this ‘CDA Overseas E-services’ website.
How can Overseas Pakistanis get discount on buying commercial plots in CDA sectors C-16 and C-16?
Overseas Pakistanis that pay in US Dollars for only the commercial plots in CDA sectors C-14 and C-16 are expected to get special incentives in the form of discounts. Exact booking details on the open auction of commercial and residential plots in sectors C-14 and C-16 will be announced by CDA after May 15. We will keep updating this story so keep checking this page for updates.
What is the current on-ground development status for CDA sectors C-13, C-14, C-15, and C-16?
CDA has not yet started proper development in any of the C-13, C-14, C-15, and C-16 sectors. There is a camp office on-site in the C-15 sector with some machinery, just off the Margalla Avenue. However, there is no is no ongoing development work on a large scale. CDA has made several promises over the past couple of years to start the development of sector C-15 on an urgent basis that have gone undone. Reportedly, the infrastructure development work of sector C-15 was allotted to the National Logistics Cell (NLC) in September 2022. The promised development time for CDA sector C-15 was 12 months. It does not seem realistic to see the infrastructure work of sector C-15 completed by September 2023.
How does the public opening of Margalla Avenue affect the development pace of CDA sectors C-14, C-15, and C-16?
The opening of the multi-lane Margalla Avenue for public has significantly increased the flow of traffic along sectors C-13, C-14, C-15, and C-16. This is a big change from the past that has attracted a lot of public interest to invest in these sectors. There is hope that CDA will try to commence work on CDA sectors C-14, C-15, and C-16 due to the rise in public interest. Keep visiting GharMubarak.com to stay updated on the development work of CDA sector C-15.
Should Overseas Pakistanis invest in the commercial and residential plots of CDA sectors C-14 and C-16?
Yes. Overseas Pakistanis may buy any of commercial and residential plots in CDA sectors C-14 and C-16 to be sold through open-auction by the Capital Development Authority any time after May 15 2023. Since the selling will be done via open-auction, the Overseas Pakistanis would have to pay higher-than-current open market prices due to competitive bidding. Therefore, an Overseas Pakistani bidder may adopt a two-pronged strategy to buy in CDA sectors C-14 and C-16. Overseas Pakistanis may bid for commercial plots via the open-auction by CDA since there aren’t any commercial plots available in the open market for CDA sectors C-14 and C-16.
Should Overseas Pakistanis buy residential plots from the open-market and commercial plots from the CDA open-auction for sectors C-14 and C-16?
However, Overseas Pakistanis may consider investing in residential plots in sectors C-14 and C-16 available in the open market. Overseas Pakistanis can expect to get lower prices for residential plots in sector C-14 and C-16 before the auction is held anytime after May 15 2023. After the open-auction the prices of residential plots in CDA sectors C-14 and C-16 would rise by sizable margins. The increase in prices of residential plots in sectors C-14 and C-16 would also cause the prices of residential plots to increase in CDA sectors C-15 and C-13.
Therefore, Overseas Pakistanis may buy residential plots in CDA sectors C-14 and C-16 from the open market before May 15 2023 to get lower prices. Overseas Pakistanis interested in investing in commercial plots in sectors C-14 and C-16 may avail the open-auction by CDA any time after May 15 2023, once announced.
Why are prices increasing for residential plots in CDA sectors C-14, C-15, and C-16?
The prices of residential plots in sectors C-14, C-15, and C-16 have increased recently after the opening of Margalla Avenue for the public. The announcement of CDA to start development work on sector C-15 has also contributed to the increase in residential plot prices. Note that CDA had awarded the contract of infrastructure development for sector C-15 to the National Logistics Cell (NLC) in September 2022. However, there has been no reasonable on-ground development since then. The more recent announcement by the Capital Development Authority to open-auction residential and commercial plots in sectors C-14 and C-16 has also caused the plot prices to increase in the range of PKR 4 million to 10 million. Which is unrealistic given the poor record of CDA in the development of residential sectors of Islamabad and bad deadline promises.
What are the prices of residential plots in CDA sectors C-14, C-15, and C-16?
The fact remains that prices have risen after the opening of Margalla Avenue and will keep rising every year minimum by 5-10% every year even if CDA remains slow in development work. If CDA can expedite sector development of sectors C-14, C-15, and C-16 then the plot prices will likely increase by 25-40% by the end of 2023. Currently, the average price of a decently located 1 Kanal residential plot in sector C-14 is around the price point of PKR 3.8 Crores. Similarly, the average price of a 1 Kanal residential plot in sector C-15 is around the price point of PKR 2.8 Crores. And the average price of a 1 Kanal residential plot in sector C-16 is around the price point of PKR 1.9 Crores.
What do such real estate investment opportunities mean for encouraging Overseas Pakistanis?
Overseas Pakistanis have long wanted opportunities to invest in the real estate sector of Pakistan that offer complete transparency and security of investment. The Capital Development Authority’s plan to develop new sectors like C-14 and C-16 as a means to attract investment in Pakistan’s real estate sector addresses the demands of Overseas Pakistanis. Hopefully, CDA with its timely delivery of new residential sectors will be able to sustain real estate investment opportunities for Overseas Pakistanis in the real estate sector of Pakistan.
If you have any questions regarding the development and buying of residential and commercial plots in CDA sectors C-13, C-14, C-15, and C-16 then please email us at info@gharmubarak.com . Feel free to share any information, issues, pictures, and videos related to sectors C-13, C-14, C-15, and C-16.
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