Citi Housing Gujranwala: Update for investors

Citi Housing Gujranwala was the first of Citi Housing projects and the popularity of the project spoke for itself. This is why it is not surprising that Citi Housing now has projects in a number of cities of Punjab. Citi Housing Gujranwala, meanwhile, has expanded to three phases, i.e. Phases I, II, and Wafi City. This blog provides you the latest update from the housing scheme, particularly its latest phase, Wafi City, which is the one attracting the most investors out of three. The other two phase, with their high level of development, and a number of novel features are more popular with genuine buyers.

The society is located along Upper Chenab Canal and can be accessed from GT Road and canal road. Wafi City is located adjacent to Phase I of the housing scheme, its entrance onto Canal Road is through Phase I. Wafi City is divided into four blocks: EE, FF, GG, and HH.

Market trends and prices

According to King’s Real Estate CEO Hassan Basra, the market is slow in general in Gujranwala, and the situation is not that different in Citi Housing. Indeed, it is still attracting genuine buyers and potential investors. Prices have, indeed, decreased slightly since our last update on Citi Housing Wafi City in April and Basra explained that another possible reason for that is the beginning of registration process in the society. Now, the buyers and sellers have to pay CVT and Stamp Duty, which means that the margin of gains has decreased, in turn decreasing interest and prices. Currently, the prices stand as follows :

Developments: Theme Park, Wapda Connections

As already explained, the older blocks have already been significantly developed. Development has taken place in Wafi City as well, and possession has been granted in all the blocks; completely in some blocks, partially in others. The construction of houses is already taking place and families have moved there.

The most exciting news to come out of the housing scheme was that in mid-April when Citi Housing Gujranwala theme park was inaugurated. It has been functional since then.  Another good news from the housing scheme is that while previously, Citi Housing itself was providing the electricity, now, according to Basra, WAPDA connections are being provided to the houses and meters are being installed.

Investment possibilities

Basra felt that investment can be considered in Citi Housing Gujranwala. Within it, it is Wafi City that can considered. It is this phase that is indeed attracting investors. The prices are stable right now and market situation is slow but in six to twelve months it can be expected to pick up and you can expect decent profits in that time.

Are you looking to buy a plot in Citi Housing Gujranwala? Do you have any questions about it? You can talk to us in the comments section below. You can also head to the Zameen Forum for a detailed conversation.