NFC Phase II management blues over thanks to court ruling

For those that don’t know, NFC Phase II, a project of National Fertilizer Corporation Employees Cooperative Housing Society Ltd, has been stuck in limbo because of management related issues. Recently, a court hearing looked into the matter and gave a verdict that goes in favour of the investors.
The society has been ordered to hold elections and elect a party that can take charge of management related tasks. According to my sources, four different parties were fighting against each other to take over said tasks. One of them had taken a stay order from the court, which resulted in a dreadlock. We can expect big changes for the society now that the court has issued orders to conduct elections.
The new management that will take charge after elections take place is expected to prioritise development work. I have heard that tenders for infrastructure development in the society are ready, which is why I believe that the new management won’t waste time and start development immediately.
Despite the issues it has faced, investors have always sought after this society. According to Zameen.com’s stats, prices of 10-marla plots in the society increased 41.14% in 2016. Similarly, the average price of 1-kanal plots also witnessed an upward push of 60.48%, while 5-marla plots registered an increase of 25%.
Here is the current pricing situation:
Plot Size
Price Range
5 Marla
PKR 1,600,000 to PKR 2,500,000
10 Marla
PKR 2,700,000 to PKR 3,500,000
1 kanal
PKR 4,000,000 to PKR 7,000,000
NFC Phase II will also be affected by developments on the Lahore Ring Road (LRR). However, its route will not do much damage to the society, as only a few residential plots in Block A, and commercial plots located at the entrance of the society are expected to fall within the path. In fact, property prices in NFC Phase II will increase after LRR is completed. This is because it will mean better accessibility for the society. It is pertinent to mention here that the government has not yet awarded contracts for these developments to any construction company.
Now investors need to wait for elections to take place. And I hope the date for the elections is announced sooner rather than later. Investors that have been waiting all this time will now finally be able to enjoy the fruits of their patience.
Considering all these factors, I believe this is the right time to invest in NFC’s Phase II. Prices of property in neighbouring societies are quite high, and NFC Phase II will also touch that mark after development work starts.
I hope the court verdict has brought along a sigh of relief for NFC Phase II investors


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