Famous for its historic forts and palaces, Bahawalpur is among Pakistan’s largest cities. Demand for residential property there has increased by an estimated 20% in the last year. Consequently, the city is attracting investment from across Pakistan; property prices increase by 20 to 25% every year and rentals by nearly 15%. If you are thinking about investing in residential property in Bahawalpur, or considering relocating there, keep in mind that the following three residential areas are attracting the most investment.
1. Hashmi Garden is gradually evolving into one of Bahawalpur’s most upscale neighbourhoods. Amenities include a commercial area, mosques and parks. Two of the city’s best known landmarks – Bahawalpur Golf Course and Noor Mahal – are located nearby, as well as Cantonment, where myriad shopping and dining avenues are located.
Plot sizes: 125, 250, 500 and 1,000 square yards. Purchase price range: Rs 35,000 to 60,000 per square yard.
Monthly rental range: Rs 350 to 400 per square yard.
2. Model Town B is a tranquil neighbourhood, with several commercial pockets, educational institutions and parks. The well-known Ghalla Mandi (a wholesale grain market) is located there and attracts customers from across the city. Railway Road is a 10-minute drive away and this is where some of Bahawalpur’s most popular restaurants and bazaars are located. Plot sizes: 125, 250, 500 and 1000 square yards. Purchase price range: Rs 30,000 to 60,000 per square yard. Monthly rental range: Rs 300 to 400 per square yard.
3. Satellite Town was established in the 1960s. In addition to being a sought after residential neighbourhood, it is a popular shopping destination with stores dealing in a wide range of items (including fabric, groceries and electronic appliances). Recreational avenues include the well-landscaped Fatima Jinnah Park. Plot sizes: 125, 250 and 500 square yards. Purchase price range: Rs 25,000 to 45,000 per square yard. Monthly rental range: Rs 250 to 300 per square yard.
By Syed Wajeeh-ul-Hassan Naqvi. Information provided by City Land Mark Property Links, Bahawalpur.