Recently, one locality that has been gaining momentum is Sector I-16. There is a lot of discussion and debate surrounding it but should it interest you in purchasing property?
There has been little to no development since Sector I-16 was launched. Capital Development Authority(CDA) recently cleansed the sector from land encroachments. So for the sector’s future, it is a good sign.
Development and Construction Work
After the illegal encroachments were removed, the demand for the property went up according to our sources.
People’s faith has been restored by this action and feels that their investment is now safe and secure. And now more people are eager to invest in this sector.
However, instead of giving attention to the infrastructural development in the area where both residential and commercial plots are located, construction work on the building of apartments is taking place. This is due to an increased demand for plots in Islamabad.
Developers have decided to first construct apartments and then sell them off because of an unprecedentedly high demand. After that, they are expected to start the development work where plots are situated. Despite all of this, buyers and investors are interested in Sector I-16 and in the last few months prices have increased.
Wide main roads have been constructed which will give a boost to the prices of the nearby plots.
Property prices
Plots are available in two sizes: 25 x 50 feet (5 marla) and 30 x 60 feet( 7 marla). We will be using the measurements 25 x 50 for 5 marla plots and 30 x 60 for 7 marla plots as in this locality plot sizes are measured in feet.
Compared to other blocks, people are more interested in buying properties in I-16/2 and I-16/4 because of the construction of main roads and streets in these areas. Prices of both vary from sector to sector.
I-16/4
Cost of 25 x 50 plot ranges from PKR 3,400,000 to PKR 3,800,000. If the plot is at a leveled land and doesn’t require any artificial filling then it costs around PKR 3,300,000 to PKR 3,500,000. For plots with depressions and require filling before construction, price ranges from PKR 2,700,00 to PKR 2,800,000.
I-16/2
Cost of 25 x 50 plot is PKR 3,600,000 to 4,200,000. For a leveled plot, the price is valued at PKR 4,500,000. Plots with depression cost around PKR 3,500,000 to PKR 4,000,000.
Price ranges from PKR 4,300,000 to PKR 5,500,000 for a 30 x 60 feet plot. If its a leveled plot and also in a good location then the price can go up to PKR 6,000,000. In the case of standard 30 x 60 feet plot, it will cost you PKR 4,000,000.
I-16/3
Plots below the road level cost PKR 2,600,000 to 2,800,00. Leveled plots cost PKR 3,400,00 to PKR 3,600,000. Price ranges from PKR 5,500,000 to PKR 6,500,000 for a 30 x 60 feet plot.
I-16/1
Price of 25 x 50 feet plots is PKR 2,600,000 to PKR 3,300,000. And if its a leveled plot then its price ranges between PKR 3,300,000 to PKR 3,500,000.
Cost of 30 x 60 feet plot is PKR 4,000,000 to PKR 5,500,000.
In Sectors I-16/2 and I-16/4, there is more activity and development. Therefore, it is a good time to invest in these two sectors. However, there would be greater returns in the long run when the infrastructural development in the sector increases.