Gulberg Islamabad, an Intelligence Bureau Employees Cooperative Housing Society (IBECHS) project, is one of the most popular housing societies in the federal capital. The project is located on Islamabad Expressway, because of which it will benefit directly from transformation of this road into a 25-kilometre long, signal-free avenue that links Rawat with Zero Point. In just about a year’s time, the four-lane wide Islamabad Expressway will touch Gulberg Islamabad, making it even more accessible from all parts of the city.
Gulberg Islamabad is the largest housing society near Benazir Bhutto International Airport and continues to attract a big chunk of real estate transactions that take place in the city these days. The project features two sub localities; Gulberg Greens and Gulberg Residencia. Being an exclusive farmhouse project, Gulberg Greens targets the elite. Gulberg Residencia, on the other hand, has a wider range of options available for genuine buyers to consider, which is why I have chosen to focus on the rates, trends and status of property here.
Let’s talk details
There are 21 blocks in Gulberg Residencia. Since the area has only one main entrance, Gulberg Expressway that passes through Greens, Residencia is located slightly further away from Islamabad Expressway. However, the roads leading to it are landscaped and adorned with beautiful farmhouses. In addition to that, the availability of plots of different sizes is a major reason why Gulberg Residencia attracts such attention.
The locality features residential plots of 200, 272, 356, 500 and 1,000 square yards. Among these, the 200 and 272 square yard ones (which translates to 7 and 10 marla, respectively) are more in demand. Buyers are choosy about certain blocks and their preference is based on solid facts, such as the development status of a block and its proximity to Gulberg Greens and D markaz, the commercial district of Residencia.
If you look at the map of Gulberg Residencia, you will notice that 200 square yards plots are the most in number. Blocks P, R, M, N, K, V, H and F have more 200 square yard plots than others. Moreover, almost all blocks here mainly feature a certain size of plot, which explains why some blocks are more popular than the rest.
Understandably, price appreciation is more prominent for the blocks where possession has been offered. These include A, B, E, F and I.
Blocks A and B, located at the entrance of the society near Gulberg Greens, right on the 220-foot wide main boulevard, are worth all the attention they enjoy. Block A has 1,000 square yards plots while Block B primarily features 500 square yards plots. In Block A, the sale price of 1,000 square yard plots ranges between PKR 9,000,000 and PKR 15,000,000. The rate of 500 square yard plots of Block B falls between PKR 5,500,000 and PKR 6,500,000. Around 70% of plots in Block A and B have possession.
The blocks located around D Markaz are also more popular among potential investors. However, it should be noted that the development plan for Block D hasn’t been launched and these plots are not on offer as of yet. Blocks located around D Markaz are I, J, E, C, F, E, N, O and H. Out of these, possession is available in E, F and I, and expected soon for the rest.
What’s the verdict?
While talking to different agents operating in Gulberg Residencia, I came across contradictory statements about the blocks that are likely to get property possession in the near future. The absence of valid information in this regard makes it difficult for me to recommend any potentially good block for medium-term investment. However, it can be assumed that those located near the developed blocks are likely to be next in line to get possession.
Furthermore, the prominent price appreciation noticed in A, B, E, F, and J suggests that future price rise is likely to occur in blocks surrounding these. Since demand for 200 and 272 square yards plots is higher in Gulberg Residencia, it is prudent to buy property in blocks that lie closer to D Markaz and is of this size.
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