Sky Gardens Housing Islamabad is a private real estate developer, who has recently entered into a joint venture deal with Federal Government Employees Housing Authority (FGEHA).
The housing project of Sky Gardens is located on Murree Expressway. After you cross the Toll plaza on the Murree Expressway, at about 3 kilometers uphill, you will notice the main sign board of Sky Gardens on your right side of the road, when you are going towards Murree.
Sky Gardens Housing Islamabad is located adjacent to the Bahria Town Golf City on the main Murree Expressway. It is one of the most sought after and potential locations in Islamabad/Rawalpindi.
It is located at the foothills of the Murree Mountains, and the surroundings provide a very beautiful scenery besides the abundance of greenery with pines trees.
Sky Gardens Housing Islamabad started its housing project a few years ago (2014 onwards), and kept acquiring lands. They initially planned two main blocks called the Flower Valley and the Dream valley.
Before the start of the actual land development, another important development took place.
Federal Government Employees Housing Authority (FGEHA) based in Islamabad entered into joint venture with Sky Gardens Housing Islamabad to acquire the land to develop the housing project for the FGEHA members of the society.
Federal Government Housing Authority earlier was actually a Housing Foundation under the ministry of Housing & Works.
The purpose of the Housing Foundation was to allot the plots to the eligible Federal Government officers as per the grade entitlement.
In addition, it was also the duty of the Housing Foundation to develop the land in order to give the ready possession to the Government officers so that they can build a house or benefit in the future.
As in the real estate industry, the most critical part is the development process of the raw land into developed land including all the facilities and amenities.
In Pakistan such developments usually take a long time due to many reasons and factors, some of them are:
Due to all such issues with the developers, the Housing Foundation was also working at its slow pace for several years.
As we all know that Defence Housing Authority (DHA) has become a big brand in Pakistan.
DHA is the most credible and reliable brand for the assurance of the development, security and safety of the property.
The biggest reason behind all of this is that when the cooperative housing society was converted into Hosing Authority by the Presidential ordinance in 2002 during the tenure of General Musharraf, it got fully empowered to work independently.
Though everyone may not know it, but there is huge difference. We all know that LDA is Lahore Development Authority, CDA is Capital Development Authority. And likewise in the all cities there are city development authorities.
Everything in the city has to be approved by the Development Authority. Without that nothing can be done and materialized in real estate sector.
Now in the case of Defence Housing Authority, they do not have to seek any approvals or NOCs from the LDA or any other authority. Because they have its own authority status. They are fully empowered to take their own decisions as per the constitution that includes making of the master plan, awarding the developmental contracts and getting any other clearances.
With this background, now one can easily understand that recently the earlier Federal Housing Foundation have been converted into Federal Employees Housing Authority in July 2019 on the similar pattern of Defence Housing Authority (DHA).
This is certainly a big breakthrough in the right direction. That means, now all the projects under the Federal Government Employees Housing Authority (FGEHA) are not required to be approved by any other authority like CDA or RDA.
FGEHA is now fully functional and empowered to start their own development works on a fast track basis.
FGEHA has many projects in Islamabad that include in D sector, E sector, G sector, I sector, Bhara Kahu and some other areas in Islamabad. FGEHA is now continuously expanding and keep looking to acquire new lands to develop the housing projects.
Similarly, the new upcoming area is on the Murree Expressway, which provides scenic surrounding all around. Bahria Town has already entered in that space.
Along with that Sky Gardens Housing Islamabad also followed to buy land on the Murree Expressway and start their own development.
FGEHA initially was having problems with their earlier joint venture with the International Center of Services Exchange (ICSE), who were supposed to provide 10,000 kanals of land acquisition, but they failed to do that in the stipulated time frame and the deal was cancelled.
In October 2019, FGEHA entered into negotiation with the Sky Gardens Housing Islamabad, and finally the Joint venture between FGEHA and Sky Gardens Housing Islamabad was approved.
According to the deal, Sky Gardens has provided 6000 Kanals of land in Mouza Kattar and Mouza Mangal to FGEHA for launching its first phase of development.
According to the reports and as per the official version of the FGEHA, the land has been successfully muted in favor of the FGEHA.
Though the legally cleared area for development is about 1900 Kanals in Mouza Kattar. In Mouza Mangal, there is some land litigation issue going on regarding the inclusion of the Shamlat land, which probably may be resolved in due course.
Plot Size: 75 x 120 – (2 Kanals)
Plot Size 50 x 90 (1 Kanal)
Plot Size 40 x 80 (14 Marla)
Plot Size 30 x 60 (8 Marla)
Total plots: 1065
This joint venture of Sky Gardens Housing Islamabad with FGEHA has given a big boost to Sky Gardens. As per their joint venture, 70% entitlement will be with FGEHA and 30% with Sky Gardens.
It is important to note that Murree Expressway is the futuristic location for all the upcoming housing projects. The terrain is a hilly terrain and it will have very scenic and artistic layout plan with winding roads and residences in the community with good weather and lush green surroundings.
Some of the major roadblocks and hurdles have already been overcome. The Federal Government Employees Housing Authority is now ready to award the development contract. And the development machines will start their work hopefully within the year 2022.
Once the development begins, the prices of the land and plots will certainly rise manifold.
Please also note that Sky Gardens Housing Islamabad is also called by another name i.e. Green Enclave - II as well as Commoners Sky Gardens Flower Valley.
Interestingly, the project is sitting just at the verge of taking off. Probably, this is the best time to invest in the project for those who can afford it.
But please note that there is already a scarcity of plot files. You cannot get any plot file directly from the FGEHA, who has 70% quota but only for the Government officers. You can only find the plot files from the Sky Gardens (30% quota). These plot files will be available in the secondary market.
Those who have already purchased it earlier and are in need of selling it off for their own personal needs, such files can only be found through some credible property dealers in Islamabad.
The original price for one kanal plot was PKR 30 Lacs. But there is a premium on the plot file which started from 2 Lacs onwards from Jan 2022 and now it is 8 lacs premium in March 2022.
In 2 months (Jan – March 2022), there has been 6 lacs increase in the secondary market.
As per the broader contextual reality of the real estate, it is pertinent to note that one kanal plot in the main cities like Lahore, Karachi, Rawalpindi and Islamabad reaches to its maximum of PKR 3 crores.
The Bahria Town Golf city which is adjacent to FGEHA and Sky Gardens Housing Islamabad scheme is already at that price (PKR 3 Crores for 1 kanal)
As you may know, the price level of any undeveloped plot file in DHA Lahore is around PKR 70 – 90 Lacs for one kanal plot.
Therefore, the pricing in FGEHA and Sky Gardens Housing Islamabad is very attractive and reasonable (as of March, 2022).
Broadly speaking, Real Estate market remains unpredictable worldwide. It has its own booms and busts and cyclical trends. But on the other side, most of riches in the world are made through real estate. And Pakistan is also one of those where real estate has created more millionaires and billionaires.
In real estate it is very important to identify the right timing to enter or invest especially from where it should only have the room to grow more and get more appreciation for your property.
That is why the concept of investing into buying the plot files have taken off in a huge way in Pakistan. And people have made their millions and billions only through buying plot files even when there is not an inch of development on the land.
Though the insightful information about the real estate market does play a good role before you take any investment decisions, but at the end of the day, every decision has to be solely owned by who takes it with full responsibility.
You can also visit FGEHA website.
You can also visit Sky Gardens Housing Islamabad site.
This article has been written with research from all the possible governmental and non-governmental sources on a best efforts basis. You can also check out the facts and available information independently as well.
We wish all the readers and future potential investors best of luck in their investment decisions.