Located nearly 74 kilometres from Lahore, Gujranwala is one of Pakistan’s largest cities and is best known for the quality of its ceramic and handicrafts. Over the last five years, Investor interest in Gujranwala has increased significantly, particularly with respect to residential property. Consequently, property prices have increased by 25% in the last 12 months and rentals by 20%.
Here are four residential areas in Gujranwala that are attracting investment from across Pakistan:
1. Model Town was established in the 1950s. It is an upscale area with plenty of shopping and dining options. Several parks and educational institutions (including Government Degree College) are also located here. Available plot sizes: 125, 250, 500 and 1,000 square yards. Purchase price range: Rs 28,000-80,000 per square yard. Monthly rental range: Rs 90 to 300 per square yard.
2. People’s Colony is one of Gujranwala’s oldest and most expensive neighbourhoods. It is best known for two popular commercial areas Mini Market and Super X Market – where stores selling everything from electronic appliances to groceries are located. Available plot sizes: 125, 250, 500 and 1,000 square yards. Purchase price range: Rs 40,000-100,000 per square yard. Monthly rental range: Rs 120-400 per square yard.
3. Satellite Town is located on Pasrur Road. Several prestigious educational institutions are located there; popular recreational avenues including Jinnah Stadium, Liaquat Park and Sheranwala Bagh are a stone’s throw away.
Available plot sizes: 125, 175,250 and 500 square yards. Purchase price range: Rs 50,000 1 20,000 per square yard. Monthly rental range: Rs 1 30-450 per square yard.
4. Wapda Town is a recently established gated community located at the outskirts of Gujranwala. Amenities Include educational institutions, healthcare facilities, round-the-clock security and parks.
Available plot sizes: 125, 250, 500 and 1,000 square yards. Purchase price range: Rs 25,000-70,000 per square yard. Monthly rental range: Rs 70-200 per square yard.
By Syed Wajeeh-ul-Hassan Naqvi. Information provided by Madina Property Center, Gujranwala.