Breaking News expected in DHA Bahawalpur soon

DHA Bahawalpur was launched in July, 2015 and its Phase I was balloted on November 28, 2015. Now, my sources have revealed that the project’s official groundbreaking will take place sometime in April 2016. However, please note that the DHA hasn’t issued an official statement in this regard just yet.

When launched, the official price of 1-kanal plot files on cash payment was PKR 3,040,000 and that of 10-marla files was PKR 1,960,000. On instalments, the rates were higher by 10%. However, over the last four months, there has been a gradual price drop in the rates of these files. This is despite the fact that the launch of this very project can help uplift the lifestyle standards of people in Bahawalpur and make this city strategically more important in the south.

And yet, investors react to matters more specific to a project than its overall impact on a city. In the case of DHA Bahawalpur, it should be kept in mind that a huge percentage of file owners are investors, many of who belong to other cities of Pakistan or reside abroad. These file owners need valid reasons to hold on to the files for the medium term. So, in the absence of a proper timeline shared by the developer for the project’s completion, many of them may choose to bail out.

In addition to this silence about the initiation of development work (a silence that I just broke, in a way), the oversupply of plot files has also played its part in bringing rates down. According to Bassr’s DHA 4u CEO Lt. Col Khalil Ahmad, the official groundbreaking is poised to bring about a price appreciation of 10% to 15% for both 10-marla and 1-kanal files. In other words, these files offer a very tempting investment opportunity to bag returns in the very short term.

According to Bodla Enterprise CEO Ehsan Bodla, the average rate of 1-kanal plot files in DHA Bahawalpur is PKR 2,275,000 right now. He believes that the groundbreaking ceremony and installation of the three entrance gates will cause the rates of these files to escalate by approximately PKR 300,000.

Bodla also shared with me that DHA is currently busy devising and finalising the town plan for DHA Bahawalpur’s Phase I and, if it is prepared in time, groundbreaking in DHA Bahawalpur will take place during the first week of April 2016.