It is one of the few projects in Islamabad where property transactions continued to take place throughout the dull period seen in the past. Many believe that property rates here are far from their optimum value and that’s because Gulberg Residencia is also far from being fully developed. Here is an update on what’s up in the society in terms of development work and market demand.
If you have been following our updates on Gulberg Residencia and keenly monitoring property rates, you must have noticed that demand here has been high for certain blocks and mostly lukewarm for the remaining ones. This is because the project is being developed in parts due to the developer’s main focus on handing over Gulberg Greens, which is about 85% developed.
Agents operating here believe that as soon as development of the farmhouse project completes, the developer’s focus will shift to completing the pending work in Gulberg Residencia. That could take the next 6 months.
At the moment, development work is being carried out in Blocks A, P, and Q. These are also the blocks our sources believe can be potentially rewarding for investment.
As revealed by agents operating in Gulberg Residencia, demand for plots is noticed higher for Blocks E, F, H, I, J, K, L, R, P, and Z. Some of these blocks are located close to the recently auctioned Block D Markaz, others enjoy advanced development status, and some are appealing to buyers for having none to limited land pockets.
Among the plots sold lately, the transaction volume is higher for 7-marla and 10-marla residential plots. This simply suggests that the active buyers are genuine buyers looking to construct their houses in the near future or the medium term investors willing to play only safe. We are inclined to think this because property-flipping practice is absent here. In addition, the buyers often pick the blocks and plots where development work is expected to be completed in the near future.
What kept the demand high?
The main factor that triggered the demand was the launch of Block D Markaz, which despite the overall dull market conditions was sold out soon after its launch some three months ago. The situation on ground also looks promising as development work on around four commercial units have already started off.
With Block D Markaz becoming operational, living in Gulberg Residencia will become a practical idea for many. The immediate impact of its launch was seen on the blocks located around it, where the demand has been the highest for plots ready for possession.
You should read our last blog to have a look at the status of litigated land in Gulberg Residencia. The only thing that changed in these months is that the developer has completed the land acquisition process for Block K. This is also a testament to the statements authorised agents made in the past that land acquisition will be completed for the project in the due course of time, with the stakeholders having nothing to worry about.
A look at market rates
In this regard, you can visit our property listing page and have a look at the asking price for plots for sale in Gulberg Residencia. The prevailing market rates in terms of price range is as follows;
|Blocks||Plot Size||Price range|
|A||7 Marla||PKR 3,800,000 – PKR 4,200,000|
|10 Marla||PKR 6,200,000 – PKR 7,200,000|
|1 Kanal||PKR 9,000,000 – PKR 11,000,000|
|2 Kanal||PKR 12,500,000 – PKR 15,000,000|
|B||7 Marla||PKR 3,300,000 – PKR 3,500,000|
|10 Marla||PKR 4,300,000 – PKR 4,700,000|
|1 Kanal||PKR 6,500,000 – PKR 8,500,000|
|C||7 Marla||PKR 3,500,000 – PKR ,200,000|
|1 Kanal||PKR 9,500,000 – PKR 11,000,000|
|E||1 Kanal||PKR 9,000,000 – PKR 15,000,000|
|F||7 Marla||PKR 3,400,000 – PKR 5,200,000|
|10 Marla||PKR 6,500,000 – PKR 7,500,000|
|G||7 Marla||PKR 2,800,000 – PKR 3,400,000|
|10 Marla||PKR 3,500,000 – PKR 4,500,000|
|H||7 Marla||PKR 3,000,000 – PKR 3,500,000|
|10 Marla||PKR 5,500,000 – PKR 7,000,000|
|I||7 Marla||PKR 5,200,000 – PKR 5,800,000|
|10 Marla||PKR 6,800,000 – PKR 8,000,000|
|J||1 Kanal||PKR 9,500,000 – PKR 11,500,000|
|K||7 Marla||PKR 2,700,000 – PKR 3,000,000|
|10 Marla||PKR 3,800,000 – PKR 5,200,000|
|12 Marla||PKR 4,500,000 – PKR 5,000,000|
|L||7 Marla||PKR 3,500,000 – PKR 4,000,000|
|10 Marla||PKR 4,500,000 – PKR 5,000,000|
|M||7 Marla||PKR 3,000,000 – PKR 3,200,000|
|N||7 Marla||PKR 2,500,000 – PKR 3,000,000|
|10 Marla||PKR 3,400,000 – PKR 4,500,000|
|1 Kanal||PKR 6,500,000 – PKR 8,500,000|
|O||7 Marla||PKR 2,500,000 – PKR 3,000,000|
|10 Marla||PKR 4,000,000 – PKR 5,000,000|
|12 Marla||PKR 4,500,000 – PKR 5,500,000|
|P||7 Marla||PKR 2,300,000 – PKR 3,000,000|
|10 Marla||PKR 3,500,000 – PKR 4,200,000|
|1 Kanal||PKR 5,000,000 – PKR 7,000,000|
|R||7 Marla||PKR 2,400,000 – PKR 3,000,000|
|10 Marla||PKR 3,500,000 – PKR 5,000,000|
|S||1 Kanal||PKR 5,500,000 – PKR 7,500,000|
|T||7 Marla||PKR 2,500,000 – PKR 2,800,000|
|10 Marla||PKR 3,200,000 – PKR 3,600,000|
|1 Kanal||PKR 5,000,000 – PKR 6,500,000|
|V||7 Marla||PKR 2,400,000 – PKR 3,500,000|
|10 Marla||PKR 3,800,000 – PKR 5,000,000|
|12 Marla||PKR 4,500,000 – PKR 6,000,000|
Having read this update, do you think the time is now ripe to buy a plot or two in Gulberg Residencia? Let us know through your comments, you can also share your queries with us. In the meanwhile, if you wish to speak to an expert for further consultation, give Asad Abbas of Mashad Sales & Marketing a call on +92-315-800-0291.