NFC Phase 2 is the most anticipated project. It is a project offering both residential and commercial opportunities. The project is currently in its initial development stages. Although the project was launched a long time ago, but the prices of the properties are not raising due to several issues. In this blog, we are going to highlight some of the major issues in NFC Phase 2.
Slow Development:
One of the major issues in NFC Phase 2 is its slow development. Despite the project’s long duration, there has been little progress in infrastructure and residential opportunities. The lack of development and other issues, such as high mortgage rates, have deterred potential home buyers.
Mortgage:
High mortgage rates are another major issue in NFC Phase 2. Currently, Blocks J, K, L, and M are affected. With the current interest rates hovering around 20%, potential buyers are backing out due to the high mortgage payments they would have to pay. This has not only stunted the growth of residential homes but is also hampering commercial development efforts in the area.
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Lack of Commercial Opportunities:
Another issue with NFC Phase 2 is the lack of commercial Opportunities available. Despite several promises, only a handful of businesses and services are still available in the area. This has led many people to move outside the NFC limits to acquire necessary goods and services.
Overall, these issues have created an uncertain investment climate in NFC Phase 2, deterring potential buyers and investors. It is now up to the authorities to devise effective solutions for these issues to ensure the project’s success. In addition, NFC Phase 2 must also focus on providing high-quality infrastructure and services to attract more people and businesses into the area. If these efforts are successful, then NFC Phase 2 will surely be one of the most promising projects.
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