Dear,
Can anyone guide me, which is the best location to buy the plot in Multan for investment purposes I have a budget of appox 25 lac
Wapda Colony, or societies near Cantt.
Punjab Housing Foundation on northern bypass.
Wapda Town is best society in Multan but now there rates are very high, even some plots owner are asking 8 lac per marla. So in this budget it is not possible to invest there. Better you go for buch villas where plots are cheap and on installment. Possession is available. After 3 to 4 years definitely you will get a very good profit.
Currently Fatima Town on Vehari Road Multan seems best for investment because MDA is about start giving possession letters and construction rights to allottees.
Right now the plots prices are within suitable range but as soon as construction will start within the year 2013 the prices will shoot up very high.
Thanks brother. Can you tell me the prices in fatima jinnah? Phase 1 or phase 2 is better?
Dear Asad,
Can you please tell me what are the prices in Punjab Housing Foundation?
@Kamran
The rumor is that these would be handed over for house construction within 4-5 months that's why the prices have gone up pretty sharply in last few months.
A good location 20 marla plot is around 55 lakh - 60 lakh.
Also i heard some owners are selling plots on installment basis but do not have the details about it.
The prices are different in different blocks.Actual price was Rs 60,000 per marla at the time of allotment and recently RS 17,000 per marla have recovered due to development works from each allottee thus the total price per marla has become approximately Rs 77,000 per marla.Right now the price range is from Rs 180,000 to 280,000 per marla depending upon location and other facilities.At this time block-b is at the highest rate and in this block price range is not less than Rs 280,000 to 300,000 per marla. Anyway there are various locations where price range is within affordable limits.
If you want to invest from a business point of view, then the best option is to find an old house in Gulgasht Colony Multan at a bargain price (i think you can still find near Gol Bagh or Mubeen market or near the board of intermediate office) and then renovate it to make a student hostel for girls. In Gulgasht you can get a house for price of land only. Also, you can demolish the house and build a plaza.
For upcoming new projects, Cantt avenue is also an interesting option.
Pk1 is right - hostels are becoming very popular in gulgasht area which is the academic hub of the city. However, the administrative part of running the hostel is quite hectic.
Although there are quite a few announced schemes in the surrounding of multan but somehow, nothing has got the attention apart from parts of wapda and model town on northern bypass.
For commercial investment, main gulgasht remains the best option.
Thanks brothers. Recently I have contacted a dealer and he told me that he has a 10 marla plot for sale in I block, Fatima Jinnah phase 2. Can anyone tell me what would be the price range?