Before DHA Peshawar was officially launched, avid real estate investors had different numbers in mind about the launch price of this project’s files. It was expected that the official rate of 1-kanal plots files would be close to PKR 6,500,000, which is a very high price for a project located in Peshawar that is just about to kick off. Acting intelligently on the advice of mindful consultants, the developer set the introductory price of 1-kanal and 10-marla residential files at PKR 5,500,000 and PKR 2,500,000 respectively.
To me, it appears that DHA Peshawar officials are making precise, calculated moves to set the foundations straight for a project that is planned to span over 10,000 acres and is the first one of its kind in Khyber Pakhtunkhwa. Not only do these rates make sense, it is also commendable that files were only launched for land that has already been acquired and legally transferred to the developer. Perhaps investors were aware of how professionally the developer is moving ahead with this project as 10,000 applications received for just 3,500 plot files!
Meanwhile, DHA Peshawar is also moving ahead with more land acquisition. According to Urban Consultant’s Shahbaz Mukhtar, the 7,200 kanal that DHA issued files for in November 2015 is only 10% of the land that the developer intends to acquire for its Peshawar project. According to Mukhtar, land acquisition is in advanced stages for another 1,500 acres. He believes that the new files will be launched very soon.
At the same time, DHA Peshawar applicants are getting restless to see balloting. The authority has even purchased the software for this, which suggests that balloting for plot files is actually close. Mukhtar expects that this will occur by the end of February or mid-March. His expectations rest on the fact that the DHA Peshawar team is continuously in touch with the experienced DHA Lahore and Islamabad teams regarding this matter.
However, it should be noted that no official announcement has been made about balloting just yet. DHA only disseminates information when the details are finalised. As soon as all matters are sorted out, we surely will see advertisements about DHA Peshawar balloting in the national dailies. At the moment, application forms are being traded at a profit of PKR 100,000 for 1-kanal files and over PKR 50,000 for 10-marla files. Balloting will increase the asking profit to PKR 300,000 for 1-kanal files and PKR 200,000 for the 10 marla ones.
In terms of response received for these files, Mukhtar told us that most of the applicants are Pashtuns spread across Pakistan as well as overseas. He also said that DHA might consider applicants who remain unsuccessful in the first round of balloting for the new files they plan to offer right afterwards. Moreover, according to Mukhtar, DHA has done proper town planning for the 72,000 kanal that it plans to ballot soon, which is very promising.
As soon as the balloting is held, development charges for DHA Peshawar will probably be implemented as the developer is very keen to commence development work. Meanwhile, new files will also be launched. With such concrete steps in pipeline, the existing demand and excitement among applicants seems justified.
Needless to say, I am really looking forward to seeing how the market turns out for DHA Peshawar in the upcoming weeks and months.
