Sorry to hear about your loss in investment in property. The Faisal Town 2 project was launched with the help of Dealers Network. They didn't sell the files directly to the end buyer. To compensate the dealers they offered a huge commission in the name of a rebate, which became a total disaster for this project. Dealers sold the files by promoting this project and showing this project a Golden Sparrow only due to the huge Rebate commission that dealers were getting for selling these files.
Now that all the files have been sold to the end-user community, Dealers have taken their profit, and have purchased their V8 land cruisers and Revos cars. Now the real end-user buyer of the file is facing its real effect.
The File's true value was actually 25% less than the paid amount; like for 10 marla files which people booked for 845,000 Rs, its true value was only 25% less, around 600000 RS only. When these files came into the market for trading or holding, their prices were reduced to 25% below the paid amount. The company has paid 25% of your paid amount to dealers as rebate commissions for selling useless files which will take 10-12 years for development and min10 more years to get little but livable. so it's almost 22 years plus the time required to get liable with schools, commercials, public transport, etc.
Faisal Town 2 falls in Rawalpindi land. It's not in the Islamabad boundary. So it's Rawalpindi's society and they are selling with the title Faisal Town 2 Islamabad. Even Faisal Town 1 is also in the Rawalpindi zone. This will affect your ID card address, domicile, courts and other related legal entities like FBR will fall under Rawalpindi. Overseas Pakistanis are misguided by the "Book your plot in Islamabad" phrase.
There is no loss in real property, if you purchase real on-ground property. These files are totally fraud and inside trading of society company and dealers network which is their front and right hand of business.
So, this is the reason for the downfall of Faisal Town 2 Files rates from your paid amount. Be careful next time and think 100 times to invest in any property. Always invest in on-ground Plots which are near to the city. Don't get brainwashed through any dealer video on YouTube. They are looting people's money by suggesting every next project only due to their commissions and rebates. This is how they get rich in a few years.
Be Intelligent, do proper property research, and buy legal real property that is on the government record.
About Author: The author has more than 12 years of experience in property investment, more than 25 years of experience in business, and has investment in many prime properties.
