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| Home  Latest Does University Town have all NOC's? |
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Does University Town have all NOC's? |
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Tuesday, 30 September 2008 |
They have already received an NOC from the RDA. University Town is just outside the limits set by the CAA (15km) and therefore should not have a problem with obtaining an NOC from the CAA if needed. It is on the other side of the Lahore-Peshawar Motorway directly opposite the Supreme Court scheme. The ban is primarily for the likes of Tops City and Mumtaz city and the numerous others that popped up and didn't obtain any clearances from the relevant authorities although the latest information indicates the Mumtaz City does have an NOC from the CAA.
University Town duly received the NOC from the RDA and have been carrying out development work at the site since then. I still think it is one of the best low cost investments in the area.
They recently signed a contract with Star Marketing to market the remaining plots at current market prices and they have received a great response since it is a very low price for regular plots in the area. I have many
investors in the USA, Canada, UK and Europe who have purchased in University Town and I still recommend this scheme for it's price, location, potential and for the honesty of the management running the society.
You can see the location and site plans for University Town in the Islamabad Maps section.
University Town has received an NOC from the RDA as it currently comes
under the Rawalpindi Development Authority. The CDA limits are up until
the 17th sectors (D17, E17, F17 etc). As the new airport is being built
and Islamabad expands, the CDA will extend it's limits to include the
schemes and constructions up unti sector 21 I believe (or maybe 20).
All schemes that already exist and have obtained the necessary
permissions will then fall under the remit of the CDA. The CDA will NOT
bulldoze everything that already exists here...they haven't been able
to anything about the sectors that they ALREADY own such as D12 and E12
so please don't worry about it. They have not issued any notices
against University Town if they were against the scheme and the RDA has
to notify the CDA of any scheme that is approved in it's future limits.
Any
H sectors currently under the CDA are for educational institutions and
the last one is Beaconhouse University in H17 which is currently under
construction. University Town is directly after this.
I still recommend it!
Follow up to comment regarding University Town -
Owning
more land than you are selling is not a bad thing. You will note that
the RDA has not taken any action against University Town which they
would have done if something illegal was taking place.
Star
Marketing were authorised to sell 700 plots which they have
accomplished. The additional land that UT own is a good thing as it
means that they have MORE plots available than they are selling which
is not the case with some other societies who try to sell more plots
than they have land.
You should be aware that when a Housing
Society submits a plan for approval from the necessary authoriities
(RDA or CDA) they do so with the current ownership documents of the
land they own and a certain amount of the land is mortgaged by the
authorities as security.
Almost EVERY good housing society and
scheme continues to purchase more land and continues to purchase as
much adjacent land as they can so that they can launch a PHASE 2 or 3
or XXX after the initial Phase has sold out. It just makes good
business sense to buy land because it doesn't go down in price.
If
the owners of a society want to defraud people then they don't spend
all that money buying more land than they need, they just do what a few
others have done...book as many plots as they can and then take the
money and run - or use the money to buy the land in their
uncles/aunts/nephews/brothers name. D17 is another one who own more
land than they have requested approval for and I think so do E16/17.
Its the others you should worry about who have less land than they are
selling...I believe that this problem occurred with some very well
named schemes...Supreme something.....? Can't remember ... 
The rest...is up to you guys.  but remember, it's better to buy and then wait rather than wait to buy...land hardly ever gets cheaper.
» 1 Comment
1Comment
at Friday, 21 November 2008 21:27
Development in University Town is taking quite a long time. i want to build a house after a two years but am thinking ifr this scheme will be developed in that time. I went to visit last time and they are doing good job but its a very big project.
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Last Updated ( Monday, 01 December 2008 )
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