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Here is why property demand has gone up in Gulberg Residencia

Property
3 min read | Samra Zulfiqar  | October 16, 2018

The society has maintained its firm position at number two on Zameen Search Trends for plots for sale in Islamabad. And that’s in addition to the fact that property rates here have also started to climb up due to a recent peak in demand among end user and investors. Here is the update on Gulberg Residencia that gives you an insight on what is currently happening in terms of property transaction volume, development work, and prospects of growth in market rates.

Market demand

After a relatively slower September, October has brought along a surge in demand for residential plots in Gulberg Residencia. Some blocks and plot options are relatively higher in demand and that is because of a series of reason including ongoing development work.

Our sources have also confirmed improvement in market conditions for this particular project. The same was predicted in our previous update on the project as the developer had decided to actively pursue development work here and clear all litigated land.

Buying trends

Demand for smaller plots is high in Gulberg Residencia, and that could perhaps be because of the fact that many of these have market value well under the bar of the PKR 5 million limit set for non-filer property buyers. Since some of these blocks are received better than the rest for 7-marla and 10-marla plots, the selective rise in demand suggests that on-ground situation determines the buying trends.

The market rates of smaller plots in these blocks have also increased at a better ratio than their counterparts in remaining blocks. On top of that, little change was noticed in the value of plots larger in size.

Development status

The pace of on-going development work is higher in blocks that are free of litigation issues. Furthermore, the developer might also have a plan in place to develop the society accordingly where blocks located closer to the already developed sectors appear to be on the priority list. These are also the blocks where demand is noticed higher among both end users and investors; Blocks A, F, G, H, I, K, L, and P.

A look at market prices

The fluctuation in rates is noticeable for certain plots in some blocks due the reasons explained above. To get a better idea about this change, you should compare the table shown below with those shared in the Gulberg Residencia blog covered in August.

Blocks Plot Size Price range
A 7 Marla PKR 4,400,000 – PKR 4,700,000
10 Marla PKR 6,200,000 – PKR 7,200,000
1 Kanal PKR 9,000,000 – PKR 11,000,000
2 Kanal PKR 12,500,000 – PKR 15,000,000
B 7 Marla PKR 3,300,000 – PKR 3,500,000
10 Marla PKR 4,300,000 – PKR 4,700,000
1 Kanal PKR 6,500,000 – PKR 8,500,000
C 7 Marla PKR 3,500,000 – PKR 3,800,000
1 Kanal PKR 9,500,000 – PKR 11,000,000
E 1 Kanal PKR 9,000,000 – PKR 15,000,000
F 7 Marla PKR 5,500,000 – PKR 6,000,000
10 Marla PKR 8,000,000 – PKR 9,000,000
G 7 Marla PKR 2,800,000 – PKR 3,400,000
10 Marla PKR 3,500,000 – PKR 4,500,000
H 7 Marla PKR 3,000,000 – PKR 3,500,000
10 Marla PKR 5,500,000 – PKR 7,000,000
I 7 Marla PKR 5,200,000 – PKR 6,000,000
10 Marla PKR 7,500,000 – PKR 9,000,000
J 1 Kanal PKR 9,500,000 – PKR 11,500,000
K 7 Marla PKR 3,000,000 – PKR 3,500,000
10 Marla PKR 3,500,000 – PKR 5,500,000
12 Marla PKR 6,000,000 – PKR 6,500,000
L 7 Marla PKR 4,000,000 – PKR 4,500,000
10 Marla PKR 5,000,000 – PKR 6,000,000
M 7 Marla PKR 3,000,000 – PKR 3,500,000
N 7 Marla PKR 3,200,000 – PKR 3,500,000
10 Marla PKR 4,500,000 – PKR 5,500,000
1 Kanal PKR 6,000,000 – PKR 7,000,000
O 7 Marla PKR 3,000,000 – PKR 3,500,000
10 Marla PKR 4,500,000 – PKR 5,500,000
12 Marla PKR 6,500,000 – PKR 7,500,000
P 7 Marla PKR 2,600,000 – PKR 3,500,000
10 Marla PKR 4,000,000 – PKR 4,700,000
1 Kanal PKR 5,000,000 – PKR 7,000,000
R 7 Marla PKR 3,000,000 – PKR 3,500,000
10 Marla PKR 3,800,000 – PKR 4,500,000
S 1 Kanal PKR 5,500,000 – PKR 7,500,000
T 7 Marla PKR 2,500,000 – PKR 3,000,000
10 Marla PKR 3,500,000 – PKR 4,000,000
1 Kanal PKR 5,000,000 – PKR 5,500,000
V 7 Marla PKR 3,000,000 – PKR 3,700,000
10 Marla PKR 4,000,000 – PKR 5,000,000
12 Marla PKR 5,500,000 – PKR 7,000,000

If you have some specific questions regarding the article or feedback on it, you can let us know through your comments. In the meanwhile, you can contact Chaudhary Umar Farooq of Union Builders by giving him a call at +92-331-581-2057.

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Samra Zulfiqar
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.

  1. Thanks for a presenting a positive report about Gulberg Residencia. Kindly give me details about the plan for handing over of possession for plots in Residencia Block-A. Also kindly tell me if they’ll give possession for whole of Block-A or in parts ? Kindly also give me information about availability of commercial plots in Block-A, when IBECHS going to launch the commercial plots there ?

    Best Regards,

    Tahir Shah
    KSA.

    1. Tahir, you can get in touch with Chaudhary Umar Farooq of Union Builders at +92-331-581-2057 to get these answers by giving reference of this blog.

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