Royal Palm City, Gujranwala: Lagging market awaits ballot

Royal Palm City is one of the top housing projects in Gujranwala on Zameen Search Trends and it has been one of the top choices for investment in the city. Its popularity is not surprising because the project is being developed by Aujla & Associates Town Developers (Pvt.) Ltd., a trustworthy name in real estate of Gujranwala. If you are an investor looking to invest in Royal Palm City or looking for an update on how things stand right now, you are the right place!

Located opposite Citi Housing Scheme, it is near GT Road, and the rest of the city is easily accessible. The good roads ensure that the distances between Royal Palm City and Gujranwala city centre does not matter much.

News of Balloting

One of the most awaited event for Royal Palm City at the moment is the balloting for Director’s quota files. This was expected in the beginning of September, but then it was cancelled. Now, according to Hassan Basra of Kings Real Estate, it has been shifted to the beginning of December.

Market trends and prices

The market has been sluggish in Gujranwala overall and in most of Pakistan, so it is not surprising that market here is slow too. Recently, Punjab Sales Tax (PST) was also imposed on the sale of plots here, slowing its market further. What’s more, the taxes indeed brought the prices down for the cash files, according to Basra.

The prices and asking premium have also fallen on the balloted instalment files. Although the files for Block A, C, D, and F still have some asking premium that is being demanded. In Blocks G and H, however, the prices are below the launch price right now.

Currently, the prices stand as follows:

Plot Size	Cash File (Director’s quota files) Prices in PKR
5 marla	1,300,000
10 marla	2,100,000
1 kanal	4,000,000

Investment possibilities

Basra felt that since the prices are low currently, investment is an option that can be considered. The post-ballot situation may be a little uncertain, as we look at it now because then the prices would see a sudden radical change depending on the location of your plot. So there are really two kinds of investment you can consider in Royal Palm City. One, really short term investment where you invest to make use of the pre-ballot surge in activity and then cash out. The other option is to go for it in the medium-term.

Generally, if you are planning to invest in Royal Palm City any plot size that suits your budget may be a good option, considering that demand for all sizes has been relatively equal. The 10-marla plot files are, however, a better option considering that they are fewer in number and because 10-marla plots are generally a popular option.

Are you looking to invest in Royal Palm City? Do you have any questions about it? You can talk to us in the comments section. You can also head over to the Zameen Forum for an extensive discussion.