In this informative blog, we are going to discuss the impact of New Metro City Gujar Khan development charges in detail. Read this blog till last, if you are a member of the society or aspiring to be one.
Overview of Impact of New Metro City Gujar Khan Development Charges
What will be the impact of ongoing protests on social media as well as on society premises? The forthcoming impact will be largely in favor of the New Metro City Gujar Khan (NMCGK) administration.
Application of due development charges on the infrastructural development of the society premises is a legitimate act. Therefore, the investors and society members cannot challenge it in any court of law. Ultimately, the burden of this protest against newly imposed development charges will be on the shoulders of the investors.
If the price of a 5 Marla plot in NMCGK before the protest was PKR 19,00,000 /- now it would be PKR 10,00,000 /-. So, the owner of the plot file has lost PKR 9,00,000 /- in a couple of days.
Moreover, the owner has to pay imposed development charges in the same amount despite the protest. Therefore, the loss of this protest has to face only the end user, not the society.
Why are the development charges mandatory?
To understand it statistically, let’s assume, you are developing a 1000 kanal housing society. Out of this 1000 kanal half of the land will be lost in the name of amenities and facilities.
For instance, 30 % of the land will be consumed for green spaces in society I-e Parks, roadside belts, etc. Similarly, 15 % of land will be allocated for inter-society roads. Likewise, 5 % of the land will reserved for the graveyard.
Therefore, there is only 50 % of land left to develop as a saleable product in the form of residential and commercial plots. Ultimately, the cost of 50 % of lost land along with infrastructure development activities and materials will be equally divided among all the society members in the name of development charges.
Furthermore, these development charges are applied according to the society’s brand value. It is obvious, that an established housing society will have high development charges as to a newly launched brand.
Henceforth, it is legitimate and fair to equally implement these development charges among all the stakeholders of society.
Example from other housing societies
Let’s elaborate on this concept with the help of an example. Two years before, the administration of Capital Smart City Islamabad charged PKR 150,00,000 /- per Marla development charges.
But the society has not delivered the plots yet. It means the society will charge at least 2 lac more per marla to completely deliver the charges.
Therefore, the application of development charges is a norm and it is applied everywhere whether it is DHA or any other housing society.
Concluding remarks for Impact of New Metro City Gujar Khan Development Charges
Thereupon, the application of development charges is mandatory. Without the development charges a society can not deliver the project properly. So, every member must pay these development charges timely. It will ultimately help your file to be in profit in the long run.
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Disclaimer:
Indeed, the sole purpose of this blog is to save you from any future difficulty while dealing with property. Keep in mind the above information and share it with your friends and family circle.
Please note that the information provided in this blog post is for educational and awareness purposes only and should not be considered as professional advice.
We are not responsible for any investment decisions made by our clients or investors based on the information provided.
Our Consultants, highly recommend that you conduct your own research and seek the advice of a professional before making any investment decisions. Investing comes with risks, and it is essential to invest on your own responsibility.
