Wednesday, August 28, 2013

Awami Villas - A project of Bahria Town Pvt. Ltd.: A good investment option

Bahria Town management launched its Awami Villas project on Pakistan Independence day - August 14, 2005. These were the last days of previous property boom and soon after that property rates went deep down until situation started improving last year.

Now when we analyse the situation of that time, it seems that Malik Riaz Hussain (then Chairman Bahria Town Pvt. Ltd.) and his team had an idea of property's problematic future. They launched this low cost project in installments to target that neglected segment of investors who had saving of only Lac Rupees or so.

Awami Villas was introduced as a mega project of Bahria Town. Malik Riaz Hussain's articles appeared in daily Jinnahh about the details of this project and his social welfare ideas behind this project. House Building Finance Corporation Ltd (HBFC) of Pakistan shown its involvement in Awami Villas. It was thought that Awami Villas project would bring a revolution in House Building in Pakistan.

Awami Villas were introduced in two categories:
  1. Standard Quality Villas - Rs.3.5 Lac
  2. Premimum Quality Villas - Rs.5 Lac
  3. Upgrade Quality (it was added later)
The model houses are launched in Lahore and Rawalpindi. CM Pervaiz Elahi visited Awami Villas Rawalpindi to boost up the project. As usual the investors as well as common man invested hugely in it.

The owner of Awami Villas kept on paying installments but there was no sign of balloting till 2008. Many people left paying further installments and in the result of it, Bahria Town cancelled hundreds of Awami Villas memberships in 2008 and sent the post dated cheque of received amount after deduction of 20%.

Many ups and down came and investors lost interest in the project though it was a small investment and showing growth. Bahria Town also gave possession of 100 Awami Villas in Rawalpindi which gave some hope to the members. And they also announced location and master plan in Lahore.

Bahria Town could not maintain the momentum and Awami Villas project remained a neglected one. Recently some Awami Villas are delivered in Bahria Orchard. These are not fabricated houses as were announced on the time of launch. Even then the project could not attract new investors. All of its direct publicity has been finished including its dedicated website. Bahria Town has provided only a page on its main and official website and links over there are not in working condition any more.

On December 31, 2012, the rate of Awami Villas was around Rs.9 Lac. It is now being informed that Awami Villas Project would be located in Bahria Orchard and the old Master Plan is no more active now. It seems that Bahria Town will be delivering Awami Villas in the form of apartments instead of on ground constructed homes.
The rates of Awami Villas have started improving gradually now. During last couple of months it gained at least Rs.5 Lac on total investment of only One Million Rupees.

In my opinion Awami Villas project is one of the best investment due to
  • Small investment
  • Low Risk Investment
  • A project of Bahria Town
Whether Awami Villas would be a two bed room house on 5 Marla plot or as an apartment, the residents would be taking all the benefits and advantages of Bahria Town's facilities. In both cases, when delivered its worth would not be less than Rs.20 Lac. The rate may be even on higher side.

The prevailing rate for Premier Standard Villas, nowadays, is around Rs.14 Lac and it is increasing gradually.

To read more about Awami Villas Project, You may Click HERE for knowing further about Awami Villas Project.

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