Property trade begins for files in Wapda Town Phase III, Multan

After completing its investigation in Wapda Town Phase III, Multan, the National Accountability Bureau (NAB) has finally termed the project clear. The process for transferring property files has also resumed after being suspended for over a year. Reportedly, NAB has given a clear status to approximately 70% of the area of Wapda Town Phase III, while the remaining 30% will be termed clear within a week.

NAB was asked to investigate the project after it was revealed that some people from the society’s management had not compensated the landowners as promised. It was decided that the management would allot a plot file of 50 marlas to the landowners against one acre of land acquired. However, a 48-marla plot file was allotted against one-acre land.

According to sources, the matter has been resolved, as the society’s new management has compensated the landowners. With this development, file owners can once again expect to see a price rise in the value of their plot files.

Despite low demand and declining profit margins on these files, investors of Wapda Town Phase III held their ground and refrained from selling at lower rates. Even today, when the asking profit on these files is inching up, only a few files are available for resale. The good news is that the Wapda Town administration has started to acquire more land for the project and has issued new files of 5-marla, 7- marla, 10-marla and 1-kanal on instalments.

In order to ensure that buyers are kept safe from buying fake files, Wapda Town has set up a counter in its main office in Wapda Town Phase III. This counter attends to the verification of files before getting them transferred to your name. Being located close to DHA Multan, the project enjoys certain perks, as a higher percentage of genuine buyers and investors from middle income brackets are drawn to investing here.

The project accommodates genuine buyers looking to buy smaller plots and files, as only 1-kanal files are being traded in the neighbouring DHA Multan. In addition to that, the Wapda Town management is also keen on delivering the project sooner rather than later as they intend to keep competing with their neighbouring real estate giant that’s still waiting for its official launch.

Phase III of Wapda Town is expected to become liveable by 2018. Furthermore, the developer is planning to start development work here in January 2017. With these major developments and also the fact that smaller sized property options are available here, asking profit on Wapda Town Phase III files is likely to go up.

If you want to invest in a potentially rewarding project for a small to medium term, Wapda Town Phase III is what you are looking for!