Citi Housing Scheme Gujranwala – Latest from Wafi City
Citi Housing, with some of the best of Pakistan’s developers working on its projects, has changed the housing trends in several cities of Punjab. Citi Housing Gujranwala was the first Citi Housing project and by now it has expanded to three phases, i.e. Phases I, II, and Wafi City. This blog provides you the latest from Wafi City.
Location and Plots
Located adjacent to Phase I of the housing scheme, its entrance onto Canal Road is through Phase I. Offering 5-marla, 10-marla, 1-kanal plots, Wafi City is divided into four blocks: EE, FF, GG, and HH.
Possession and development
A significant amount of development has taken place in Wafi City, and possession has been granted in all the blocks; completely in some blocks, partially in others. As a result, the construction of a significant number of houses has already begun and more than 50 families are already residing there.
At the same time, development is taking place in the parts of the housing scheme that are still undeveloped. As it is, Wafi City is a beautifully planned phase with green belts, expansive parks, and wide roads.
The inauguration of theme park is being anticipated for quite a while, however, it hasn’t been launched yet. According to Wafi Real Estate Marketing Manager Muhammad Arshad, it is now expected that it will be inaugurated by 14th April 2018, but there hasn’t been any confirmed news yet. The housing scheme has a sports stadium in its Block HH as well.
Finally, water and electricity are already available in Wafi City, but gas will take time, according to King’s Real Estate CEO Hassan Basra.
Market situation and prices
According to several experts, the market is relatively dull throughout the phase because of relatively low number of genuine buyers and investors. As a result, the prices which earlier had been rising, are now slower and leaning towards stability. Basra expected that while the prices will not decrease, their rise will be rather slow over the next few months.
The prices currently stand as follows:
upda
| Plot size | Prices in PKR |
| 5 marla | 1,900,000 – 2,800,000 |
| 10 marla | 3,500,000 – 4,500,000 |
| 1 kanal | 8,000,000 – 10,000,000 |
The only place to invest
Basra confidently explained that despite the current market situation, if there is any place which has high investment potential, particularly in Citi Housing Scheme Gujranwala, it is Wafi City. The place, he explained, is going to be turned into a sports city, which significantly adds to its value.
Basra felt that it is 5-marla and 10-marla plots which hold the best potential for investment currently. A 5-marla plot there can be had for as low as PKR 1.9 million, which is a fantastic price, considering that families have already settled in some of its blocks.
He also recommended that any block except Block EE is great for investment, particularly Block HH. Block HH is the newest and cheapest block and it holds the greatest potential for huge returns. However, in any case, Basra felt that any investment there will have to be medium-term extending to a period between 12 and 18 months.
Are you looking to buy a plot in City Housing Gujranwala? Do you have any questions about it? You can talk to us in the comments section below. You can also head to the Zameen Forum for a detailed conversation.
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