Should you go for Wapda City Phase II plot files?

The society is the most popular one in the city among both buyers and investors. Zameen.com has recorded similar trends for plots for sale in Faisalabad, where Wapda City continues to retain its top position. The recent rise in public interest in the project is perhaps due to the launch of plot files for Wapda City Phase II. If you have also come across these and are looking to inquire further, this article is meant for you.

Project details

Launched back in 2013, Wapda City Phase II was primarily meant for its employees in Faisalabad. As per sources, the process for land acquisition was to be carried out in collaboration with Al-Bayt, for which the company was to get plot files issued under a certain ratio for each acre of land purchased for the development of Phase II. Wapda City has been issuing some files to the group in the past two years. In the meanwhile, process for land acquisition is also underway.

Official announcement

The society hasn’t yet shared any official word in this regard. According to agents operating in Wapda City, land is still being acquired for Phase II. Some believe that the recent hike seen in rates of property in the neighbourhood is the main reason why the process has lately slowed down. Reportedly, the society requires 250 acres of land to formally kick off the development work, while approximately 60 acres have been acquired so far.

The fact that only a little more than 20% of the total land has been acquired means that the files issued against this land will also be limited in number. Furthermore, due to the delays seen in land acquisition, some agents also believe that the location of Phase II could also change.

The offer

According to brochures released in the market, 5-marla and 1-kanal plot files are available for sale on a two-year payment plan. If purchased on cash, there is a discount of 20%. The rate set for 5-marla plot files on instalment is PKR 2,500,000, while the price of a 1-kanal file is PKR 8,000,000. Sources confirmed that Wapda City issued only 5-marla files and no 1-kanal files were issued. Here is the payment plan that has been shared via print publications:

5-marla plot files:

1-kanal plot files

If you speak with an official of Wapda City about this particular offer, they will suggest you to carefully read the agreement signed between Al-Bayt and Wapda City before you make the final investment decision. Property agents are also waiting for the society to officially launch the phase and share the required details on it before they can encourage their clients to invest in it.

This should help you decide whether or not you should go for the instalment files offered for Wapda City Phase II.

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