The month of September 2013 was too volatile and it looks like that history repeats itself. I remember the month of December 2012 which was same as September 2013 where the volume and prices were different at the start of the month and made new highs and then took correction, touches the price level below the starting price of the month.
Price went up to almost 10 to 25% within two weeks of September and touches the highest level ever and made history. The minimum required amount to enter in the DCK market climbed up to 2.7-Million from less than 2-Million a month before. Whenever this kind of market movement occur market took correction. As I mention earlier in September forecast that market looks in overbought situation and will take correction.
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So, in the previous month, market has witnessed the correction and came down already 10 to 30 %. This is quite interesting that first the market go up 10 to 25 %, then came down 10 to 30 % from upper level, becomes huge movement and provide opportunity to make money. But according to my personal point of view we all should discourage this kind practices. In this way many new comers suffers alot and loose confidence. In the end no one is in benefit, because if the plot is sold at higher price then the final payment has not been made, and many commitments are not fulfilled.
The reason behind this price fall is mainly the removal of Plot Address Verification Link on DHA Kararchi official website by which plot sector number can be verified. Price are set on the basis of its sector and by removing this link from the website buyer’s confidence shaken and people feel why it has been removed, what is the reason behind this, plus as I mention earlier that market was already in the overbought position and this thing created panic in the market.
One more factor is that the DHA Karachi (Phase VIII) already look dull in the start of September, as I mention earlier that Phase VIII prices are too high and many investors made profit taking from there and enter in DCK market. But at this stage when Phase VIII prices came down, then DCK price also came down.
Coincidentally, in the same time frame one of the largest developer introduced their project and brought new terminology in the Real Estate Sector i.e. Client Registration Process. Earlier, we are only used to launching and pre-launching of projects. This is very first time that registration of clients were made and people took keen interest in this project. Millions of forms have been submitted (according to public opinion). This factor also played a negative role for DCK traders.
With all these factors, market look so dull and only those transaction are in the closing process which were made in the early days of the month. Not many new transaction witnessed at this stage. Before Eid, it looks like that the market will keep slow and not much movement expected in the market. Market is in the wait and see strategy and it may remain the same till December 2013.
You may also like to checkout:
- DHA City Karachi (DCK) Balloting Results List 2013
- Important Points of DHA City Karachi (DCK) Balloting Results 2013
- [Pictures] DHA City Karachi (DCK) Plot Numbers Balloting Ceremony on 23rd April, 2013
- DHA City Karachi (DCK) Latest Prices
- DHA City Karachi (DCK) – Complete Payment Schedule Guide
- 13 Immediate Action Plan Works at DHA City Karachi (DCK)
ON Money (October 2013)
After witnessing this whole movement from March 2012 to September 2013 (18-Months) and five months after balloting, many things happened in this duration like price went up and down. The development work is going on the site and people witnessed that the development work for infrastructure will continue at good pace.
In our latest visit of DCK site, lot of construction activity was witnessed including Director’s office wing, staff residence and other office blocks construction work is in full swing. The main entrance on the super highway is almost at finishing stage and connecting roads are ready including carpeting. These things will definitely create a positive impact on the market. And the very natural trend that whenever market goes down it will take some time to settle down and make prices stable. Any official positive news related to DCK will create a positive impact on the market, and people are waiting for this.
DCK has very good potential and for its better future & to retain this potential and scope; everyone should follow the ethics of trade in which we should transfer the plot before reselling, and guide the investor in this way, which will make market settled and again ready to go up.
These prices are provided by Mr. Muhammad Shafi Jakvani, CEO – Citi Associates. Above mention prices are subject to change any time according to their demand and supply and (ON Money) price can be change either side in the open market, depend on the volatility of the market. And there is no guarantee of any kind of price variation.
Note: Mostly files traded in the size of 200, 300 and 500 square yards. It does not mean that other categories are not available, but normally these sizes are traded and are available for sale and people are ready to buy files of these sizes. Other large plot may be allotted in balloting but not available frequently in the market.