Development work begins in Golf View Residencia – is the trouble over?

Golf View Residencia (GVR) is one of the many Bahria Town projects in Lahore that have been the subject of controversy. The project has faced frustrating delays and there are different theories as to why. However, Bahria Town says that confusion about Lahore Ring Road (LRR)’s final route for the southern loop is the reason behind GVR delays.
The development update
Concerns about the delay in initiating development work in GVR have been addressed as Bahria Town’s machinery has been dumped at the site. At Bahria Town’s main office in Bahria Orchard, a notification is available, which reads that development work in GVR has been initiated and members can see the work in progress at the site.
A little Background
The project was launched back in 2013 and it featured 10-marla and 1-kanal residential plots on a payment plan spanning 2.5 years. The launching price of a 10-marla plot was PKR 3,100,000 and that of a 1-kanal lot was PKR 6,500,000. Over one and half year has passed since the last instalment for these plots was due.
Due to the delayed development work, file owners staged a series of combined protests along with those affected by Bahria Town Sector F. After these persistent protests, the demonstrators met Malik Riaz, who addressed their concerns about GVR. During that meeting, he specifically asked GVR file owners to not pay any more instalments until development work starts.
Another controversy?
At the moment, there is a long list of people who haven’t made full payment for their plots. But there are many who have cleared their dues, which could cause trouble for some. The reason for this is simple.
Due to the LRR route – which passes through the planned golf course – several plots in GVR will be affected. In other words, Bahria Town will no longer have space available to adjust the 2,100 plots that have already been sold. Obviously, plot owners who have made full payments will be on the developer’s priority list when time comes for possession to be granted.
GVR’s map
Development work has been initiated in GVR, which means that there obviously is a map in place. But when this map will be shared with stakeholders is a question that has not yet been answered. No date in this regard has been shared, but it is rumoured that the map will be launched during this month. Only by looking at the map can we tell how many plots can be accommodated.
Reportedly, development work on LRR’s SL-3 has also been initiated and the route is the same as the one planned by the authority concerned. This also means that some plots in several sector of Bahria Town will also be compromised.
What’s next?
In the case of GVR, let’s wait and see how the developer will adjust plot file owners and what options will be given to those who haven’t paid their pending dues. Ideally, Bahria Town should introduce another payment plan for these folks as Malik Riaz himself told them to not pay their instalments.




Comments

  1. Land Guider23 April 2020 at 07:25

    I respect this article for the all-around scrutinized content and superb wording. Capital Smart City is another great project. It is Pakistan’s first ever smart city.

    ReplyDelete

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