Gulberg, Lahore, has become the epicentre of wide-spread shift in real estate buying trends due to the constant rise in the demand for vertical developments. The area is now literally the city’s centre point when it comes to moving forward with achieving the goals set by the current government in terms of efficient use of available land and generating economic activity in all the industries related directly and indirectly to the construction sector.
Real estate developers and builders, too, are keen on exploiting this opportunity by syncing their development approach with the prime motive of creating employment opportunities for labourers and millions of other people linked with the construction sector. All of this is now being translated in the true sense where development work is underway on many mixed-use developments and apartment projects targeting buyers and investors who are well aware of what’s in store for them. Zameen Aurum, an apartment project located in Gulberg III, is one such development being truly considered on its merits.
The veteran investors anticipating another property investment in the next couple of months, too, have their eyes set on the high-rise developments under construction in Gulberg right now. They have a whole list of reasons to believe that it is the neighbourhood to focus on to reap the maximum benefits during the next investment wave.
Being Zameen Blog reader, you have every right to know the crucial Gulberg Lahore insights to get your shares from the returns this area promises to investors who know what’s coming next.
An Ideal Area for High-rise Developments
The area holds so much importance in the city’s economy that the land development authorities and all other concerned infrastructure development authorities have never ignored to address an infrastructure-related issue here. For instance, all major roads here are being widened and made signal free to ensure that traffic congestion seen during the rush hours can be handled efficiently and on a permanent basis.
The way the concerned authorities address civic issues in Gulberg says a lot about the area’s importance and to no one’s surprise, real estate developers and investors are also aware of it. This is also the reason why high-rise mixed-use developments and high-end apartment projects launched by reliable builders receive an overwhelming response. Zameen Developments, the name behind Zameen Aurum, has sold many prime units right after the project’s launch last week.
As envisioned by the concerned authorities, the entire area of Gulberg will become the city’s business district featuring skyscrapers and high-rise buildings featuring corporate office, commercial outlets, hotel suites, and exclusive apartments in the coming years.
Now that we know the key factors behind the immense popularity of Gulberg, we’ll discuss some numbers and give you all the relevant data-backed facts to show you how the neighbourhood’s real estate market is gearing up to beckon the upcoming investment wave.
Zameen.com’s Exclusive Statistics & Data on Gulberg
As of October 2020, Gulberg remains the fifth most popular area in Lahore among buyers looking for apartments for sale on Zameen.com. Our data shows that the market value of property in the area has increased by 50% over the last two years (between September 2018 and September 2020). However, the rise in value of apartments has been recorded at a staggering 118% during the same time period.
The market value of properties rose during the last two years despite the absence of any prominent measures made by the federal government to address the major issues facing the real estate industry. Now that many of the common concerns facing potential investors and buyers have been resolved, it is expected that the price appreciation over the next two to three years will be even more impressive. Experts have anticipated a growth rate of up to 60% over the next two years in the value of commercial and residential units in Gulberg.
Since making an investment in pre-built properties comes with the added benefit of a rental income, the high-rental yield that is exclusive to this neighbourhood is also a major factor in the ever-increasing demand for property in the area. So one of the major reasons why investors are so keen on purchasing apartments in Zameen Aurum is the expected rental yield of 5 to 7%.
Some Quick Facts about Building Bylaws in Gulberg, Lahore
In order to facilitate the construction of commercial and mixed-use high-rise projects, the Lahore Development Authority (LDA) recently introduced major changes in its bylaws. These were in addition to the authority’s previous decision to allow the owners of residential properties located in Gulberg to use their premises for commercial purposes.
Now all major roads and boulevards here feature the construction of high-rise, mixed-use projects. Even remote streets and residential compounds in Gulberg have witnessed the development of various exclusive, high-end apartment projects — with the demand for old houses and empty plots in the area also rising steadily. All of these changes are expected to completely transform Gulberg’s skyline.
The Essence of Construction Industry Relief Package
The recently introduced Tax Laws Ordinance 2020 targeting the construction industry is one of the government’s most appreciable initiatives. The new package aims to promote construction activities in such a manner that it helps the national economy, and benefit buyers that are only looking at capital gains.
According to a study conducted in 2019 on urbanisation in Punjab, 68% percent of the province’s real estate is in the form of vacant plots in housing schemes, with only 10% of these plots being used for construction purposes. This adds to the urban sprawl. To counter this problem, significant tax reductions have been made for the construction sector.
Consequently, more developers are initiating various construction projects in order to avail the tax concession offered by the government and the tax authorities. They have started registering with the Federal Board of Revenue (FBR) through its IRIS portal, which will ultimately benefit the investors and buyers. Additionally, increased construction activities will also benefit the raw-material suppliers and the daily wager community.
Direction set for upcoming Real Estate Investment Wave
The factors we have discussed so far suggest that a paradigm shift in the real estate industry is coming soon, as the authorities concerned shift their entire focus to incentivize the construction of vertical developments across the country.
The FBR’s new policy to allow individuals to purchase property without first declaring their sources of income if the property they are buying has been registered with the tax authority has also been very beneficial for developers. It has led to a surge in investment activity, as people flock to buy units in approved high-end, high-rise developments (mostly located in the Gulberg area).
Investors who feel that Gulberg is the next major investment spot in the city cannot ignore Zameen Aurum. It is one of the few apartment complexes in the area that offers an opulent and unique living experience. The project is registered with the FBR, which essentially means investors will not have to disclose their sources of income when investing in the project.
Even though being registered with the FBR is one of the many reasons why Zameen Aurum is a great project to invest in right now, the project also offers potential buyers and investors a whole list of premium amenities and features that make this exclusive, 15-storey, high-end residential development a project worth every penny.
So, if you want to learn more about this project that is being developed under the banner of Zameen Developments — one of Pakistan’s most prestigious real estate development firms — check out Zameen Aurum’s page or get in touch with the experts at Zameen.com by calling our 24/7 helpline at 042-111-333-333.
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