A few months ago, two separate but related notices had been
issued regarding Sangar Housing Scheme by the Deputy Commissioner Gwadar, who
is also the Project Director of the scheme. One of the notices put a stop to
any rumours that had been circulating regarding the sale of Sangar Housing
Scheme or about the uncertainty of its future. The notice also stated that
development is set to begin in Sangar.
Meanwhile, the second notice invited the public to apply for
building approvals and NOCs to begin construction on their plots, though it was
only for residential plots in Phase I and commercial plots in Phase IV. As a
result, it was expected that interest will surge in the project and so will its
prices. This article is to update you about the latest from project and how
things stand four months later.
Current market situation
According to Shamim Mustajab of One Source, despite all the
good news from four months ago, the market has been relatively slow. He
explained that the prices, like the rest of the country, are no longer trending
downwards but the market is yet to see an upwards trend as well.
On the question of clients and demand in the market, he
explained that a reasonable demand existed for Sangar. Indeed it is one of the
most popular housing projects in Gwadar but if the demand in Gwadar and
Pakistan itself are low, it will be the same in Sangar as well. However, as
things appear, the market seems to be stabilising and improving, we can expect
good things in Sangar as well. As it is, the prices in Sangar Housing Scheme
currently stand as follows:
Plot Size Prices
in PKR
400 sq. yd. 3,000,000—4,500,000
600 sq. yd. 3,500,000—5,500,000
1,000 sq. yd. 6,500,000—15,000,000
The 1,000 sq. yd. commercial plots in Phase IV fall between
PKR 15 million and PKR 25 million.
Development and investment
Unlike a large number of other projects in Gwadar, Sangar
has already seen a lot of development, many of its roads are complete, and
electricity is available in Phase I. As a result of the invitation to apply for
NOC to construct houses, a large number of people have indeed applied for it,
according to Shamim, but things are still in process. Rizwan of Estate 1
further explained that it was too optimistic to think that so many changed
would occur in this particular time slab. Elections were set to take place, the
government was unsettled both before and after the election, and the processes
could not possibly have been completed in this time, he felt.
On the other hand, he explained, now that the new government
has taken over and things will begin settling down, we will see rapid changes
taking place, particularly in the perspective of rapid progress in the status
of CPEC as well. So, good things can be expected in the near future. In the
medium term, we can look forward to a significant appreciation in Sangar.
Are you looking to invest in Sangar Housing Scheme? Do you
have any questions about it? You can talk to us in the comments section. You
can also head to the Zameen Forum for a detailed conversation.
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