Wapda Town, Sheikhupura: affordable and rustic housing project near Lahore

Located just a kilometre away from the Lahore-Sheikhupura road network, Wapda Town Sheikhupura is another one of the string of Wapda Town projects located in major cities across Punjab – most notably in Islamabad, Multan, Lahore, and Sargodha.

The two features that make the project attractive are its affordability and rustic architectural profile.

The scheme’s really low prices, on the one hand, offer a fantastic investment opportunity. On the other, its peaceful location means that it offers the perfect place for an affordable farm house setting near Lahore.

If these details pique your interest, here is everything else that you need to know about the project:

Project Details–a beautiful and well-managed society

Wapda Town Sheikhupura was inaugurated in the early 90s, while development work on the scheme practically began in the final years of the decade.

The society is comprised of a gated community of around 5,000-6,000 plots, divided in 12 Blocks bearing the letter-designates A to M. Development work initially began in Blocks L and M, and so far, it has progressed to Blocks J and K.

Possession is currently available in the completed blocks, with about 10-20 houses having been constructed within them (ready for occupancy).

While the scheme’s residential areas underwent (and continue to undergo) development, construction work also commenced on the commercial area.

Some buildings have been constructed here, but the area is not yet particularly active. This is because the population of the housing project itself is not particularly high at the moment.

Some of the utility services and living amenities available in the project include:

• Electricity supply
• Water supply
• Telephone connectivity
• Sewerage disposal facility
• Parks
• Mosques
• A school
• Metaled roads
• A graveyard

Gas supply is not yet available in the housing scheme, according to Mehmood Randhawa of Faisal Estate Agency. Randhawa expects that this important utility will become available following the construction of more houses in the project.

A declining trend in prices observed

According to Raja Faheem Iftikhar of Eman Associates, property prices in the society have been on a declining trend lately for the past two years. This downswing has resulted from the general withdrawal of hard-core investors from the project.

This detachment of interest was primarily caused by a slowdown of the real estate machinery around the country. Moreover, the properties on offer had reached their maturation points for short-term investors.

Currently, the prices in Wapda Town Sheikhupura stand as follows:

The minimum and maximum prices listed for each plot-size category differ primarily due to plot locations in the society. This factor also determines whether possession is presently available for the plots or not.

Who would want to buy plots here?

Investors

As already mentioned, most of the hard-core, high-budget investors no longer have their stakes set in the project. So at the moment, it is most suited to medium & long-term investors who want to hold their property for a little while. By doing this, they can expect a good margin of profits..

For high-budget investors interested in claiming a large number of plots, Iftikhar suggested that buying plots here (in bulk) might not be a bad idea.

. Doing so will significantly affect the society’s price trends, since only a few plots are available at the moment.

Meanwhile, low-budget investors may have to hold for around two years. Though in this time, they can expected about 50% returns on their investment.

Genuine buyers

For genuine buyers (people interested in making a living over the long-haul), Iftikhar feels that the project offers a perfect option for settling down near Lahore. Also, the plots are affordable.

In Wapda Town Sheikhupura, you can buy a 1-kanal plot for as low as PKR 1 million for building a perfect farmhouse. Within Lahore, for comparison’s sake, a space of only 1-marla would be priced at the same amount. A big contrast.

Are you interested in buying property in Wapda Town Sheikhupura? Do you have any questions or concerns regarding your decision? You can discuss them with us in the comments section below. Alternatively, you can head on over to the Zameen Forum for a detailed discussion on this topic.