CONFIG_HAVE_ARM_ARCH_TIMER is not available for thedefaultarchitecture x86.
Result is shown for architecture arm

Architected timer support

configname: CONFIG_HAVE_ARM_ARCH_TIMER

Linux Kernel Configuration
└─>Kernel Features
└─>Architected timer support
In linux kernel since version 3.1 (release Date: 2011-10-24)  
This option enables support for the ARM architected timer

selects
CONFIG_ARM_ARCH_TIMER
CONFIG_GENERIC_CLOCKEVENTS

depends
CONFIG_CPU_V7