If I'm not mistaken then this plot is located where there was a water board office way back about 7-8 year ago. It was a later adjustment by the KDA to demarcate and ballot that area and most of the plots are of 600 yds there.
The only access (by car) to this piece of land is through University road via a winding road up the hill unless of course if you have a four wheeler you can approach it from Block 2 as well. And I think there is a single house built there. Furthermore, there are no roads and/or sewerage lines there, at least when I visited there weren't any. So no water, no sewerage, no electricity, no roads (looks like the Karachi 8-10 years ago LOL)
So if it is the same area, then please don't mind but you are still asking a bit on the higher side. 400 yds plot in the surrounding developed area is available in 1.25 to 1.4 crore depending on the location.
But I must say, what a view from atop the hill. It is a place which may be a gem of an area in future as it over looks Karachi University's gardens. If it doesn't bother you much please don't sell it now as the property value is really went down these days. Wait for the good days and some development work in that area then you will get good price for your plot.
