|Type||Residential | Commercial|
|Access||Motorway M-2, Chakri Road, Rawalpindi Ring Road|
|Access Level (to date)||Easy | Medium | Difficult|
|Project Area||70,000 Kanal (approx.)|
|Developed By||Maxim Investment Group of Egypt, Meinhardt Group of Singapore, and Bannu Mukhtar|
Mivida City is an underdeveloped housing society whose title is associated with two Spanish words meaning ‘My Everything’, claiming to be the first Eco-friendly society.
The society is being developed at Chakri Road which is 65Km from Zero-point Islamabad while being, close to Motorway M-2 and Adiyala Road.
Since the society is in its early development stage, it has not acquired NOC from RDA yet offers multiple Residential and Commercial units.
It covers an estimated area of 70, 000 Kanal, sandwiched between Capital Smart City and Blue World City, yielding tough competition among all.
Since the launch of society, it has witnessed multiple price increase as a 5.5 Marla Residential Plot on General Block is priced between 16-17 lac that goes beyond 100 lacs for a 2 Kanal piece of land.
The plots are available on an installment basis with various plot sizes and are subject to change every week.
As far as developers are concerned, Khanial Builders have partnered with Meinhardt group of Singapore and Maxim Investment Group of Egypt.
The society vows to offer state of the art development making it a model for other societies to follow.
- 24/7 Electricity
- Boundary Wall
- Educational Institutes
- Golf Course
- Grand Mosque
- Health Care Facilities
- Rainwater Conservation Plant
- Sewerage Disposal System
- Solar Energy Plant
- Sports Facility
- Surveillance and Security
- Underground Electricity
- Water Filtration Plant
In Mivida City, various property types have been made available with respect to the wishes and desires of market; that includes, Resort living, Lakeview chalets and Villas, Resort hotel apartments, social club, and Recreational Island.
For Residential purposes, there are 2 blocks available, details of which is as follows:
• 5.5 Marla (140 Square Yards)
• 08 Marla (200 Square Yards)
• 10 Marla (255 Square Yards)
• 14 Marla (350 Square Yards)
• 01 Kanal (500 Square Yards)
• 02 Kanal (1000 Square Yards)
• 4.5 Marla (111 Square Yards)
• 08 Marla (200 Square Yards)
• 10 Marla (255 Square Yards)
• 1 Kanal (500 Square Yards)
• 1 Kanal
• 2 Kanal
• Resort Society
• Golf Society
• ECO Society
• Mix-use Society
• Entertainment Society
• Medical Society
• Educational Community
• Retail Society
• Sports Society
- Blue World City
- Capital Smart City
- M-2 Motorway
- Jarrar Homes
- Al-Haram City
- Chakri Interchange
- Thalian Interchange
- Discovery Garden Islamabad
- Fatima Jinnah Women University
- Islamabad International Airport
- Mivida city is in the initial stages of development. Preliminary development like earthwork is continued at sector S2, Block-C of Mivida, adjacent to Chakri Road.
- Moreover, work on the signal-free main boulevard is also underway.
- Grand Jamia Masjid and self-sustaining elements are also under development.
- Work on the main access road is also being carried out in the society.
Developers and Partners
The construction of Mivida City is divided among various stakeholders.
The Meinhardt Group of Singapore is the town planner of society who have work experience of infrastructure planning and designing in more than 51 countries.
They have also designed Eighteen Islamabad, Delhi Airport, and Qatar Airport that brought fame to their name.
Additionally, Maxim Investment Group of Egypt is the core developer of Mivida City Islamabad. The profile of Maxim Group shows they have established in 1980 with additional services of design consultancy and investment advisory.
While Mivida Developments (Pvt) Limited are the developers with a resolve to offer high end product with quality development.
Finally, Bannu Mukhtar is an added contractor for Mivida City who have completed various projects over all these years since their establishment in 1964.
The master plan of any society gives a complete insight of various sectors, the development plan and is the overall face of the project.
ProProperty has made it available for the readers to have an overview before going into any investment.
This layout plan is also to be presented to RDA for further approvals and permissions.
Analysis of the pre-launch prices of Mivida City opens a lot regarding price trends.
A 140 Square Yard 5.5 Marla plot had installment price of 15 lac that now stands at approx. 18 lacs with 3.5-year Installment plan.
These prices are subject to increase owing to domestic economic activity and real estate trends. The realtors believe that these new projects hold a potential to expand exponentially and generate profit rate as high as other landmark projects of the twin cities.
Comparatively, the prices of Mivida City are approximately 15-20 % higher than Blue World City and Abdullah City, located in its vicinity.
ProProperty has brought all the detailed information here, it now depends upon end user to make a rational choice and convert their hard-earned money in a project that could earn them high value for money.
Rumors and Controversies
The area around Chakri Road is regarded as a haunted place because of the numerous speculations in the real estate market brought on by issues with the title to the property and increased frauds posing as housing societies.
Mivida City, one of the unapproved societies, has been heavily criticised for overselling of files and taking a long time to transfer ownership, which has caused investors to have many questions.
Another rumour in the market is a huge issue of empty pockets, where a particular quantity of land is located in one location but is separated by a very little vacant pocket not held by Mivida city.
As a result, investors and end users are advised to exercise extreme caution when making an investment in any project on Chakri Road and to confirm that the society in question complies with all applicable legal requirements.