Gulberg Islamabad, a project of Intelligence Bureau Employees Cooperative Housing Society (IBECHS), is an upscale residential development in the federal capital. Located on Islamabad Expressway and at a few minutes’ drive from the Benazir Bhutto International Airport, the project has attracted investors and residents alike.
The society is segmented into Gulberg Residencia and Gulberg Greens, the latter being a farmhouse development. The foundation stone of Gulberg Islamabad was laid in March 2013 and since then the society has witnessed various changes. So, in this post I intend to discuss the current status of development, possession and property rates in the locality.
Infrastructure development in both Gulberg Residencia and Gulberg Greens is underway at a good pace. Mr Abid Hussain of Hassan Traders told Zameen.com that the authorities concerned were carrying out development work in Blocks A, B and P of Gulberg Residencia and Blocks D and E of Gulberg Greens.
Mr Hussain also said Blocks E, F, G, I, L, M, T and V of Gulberg Residencia and Blocks A and C of Gulberg Greens were already fully developed.
We learned that the IBECHS had handed over possession in Blocks E, I, F and G of Gulberg Residencia, while in its Blocks J and C, the possession was available in some portions only.
On the other hand in Gulberg Greens, the owners can enjoy ownership rights in Blocks A and C and build their farmhouses here, while in Block B, the possession has only been given partly.
Prices of plots in both Gulberg Residencia and Gulberg Greens vary from block to block. Mr Hussain told Zameen.com that the sale price of 10-marla plots ranged between Rs 3,500,000 and 5,000,000 in the blocks of Gulberg Residencia where possession was available. While in blocks with no possession, the sale price of 10-marla plots ranged between Rs 2,100,000 and 3,500,000.
Gulberg Greens is a farmhouse development, so the property prices here present a different picture. According to Mr Hussain, the sale price of 4-kanal plots in the areas with possession ranges between Rs 22,500,000 and Rs 24,000,000, while the sale price of same-sized plots in areas with no possession lingered between Rs 17,500,000 and Rs 20,000,000.
Gulberg Islamabad seems to be a good address for property investment in Islamabad and with all the information provided above, I hope you can now take an informed investment decision. If you would like to add or ask something, please feel free to use the comments section below.