What Makes Gulberg Lahore the Ultimate Investment Choice?
And in Lahore, Gulberg area is becoming the ultimate choice for investors, looking for mixed-use developments as most of them want to keep residence and work at the same place. Since, it is the centre of commercial activity, many people prefer this neighborhood for establishing their offices and homes. Seeing the interest, developers have been laying foundation of new mixed-use developments that adds more value to the commercial area.
Coming to help, the Lahore Development Authority (LDA) has tagged several new roads in the area as "commercial" and has also given commercial status to properties located on these roads. Therefore, not just on the main boulevard but you can find many new commercial and mixed-use projects on the roads located at back of this area.
Another trend that has also been observed is that due to increasing commercial activity in the neighborhood, old residents are vacating their properties. Instead of renovating their outdated homes, landlords are either selling their home at commercial property rates to the interested buyers or transforming their properties into commercial units and heading to purely residential areas. It is contrary to the mindset of those investors, who are interested in setting up their homes and businesses there.
When it comes to asking price of these properties, no one can give you clear idea as like other areas, there is no standard market rate of property in Gulberg – neither for old homes nor for malls, and newly developed commercial entities such as Square One, Indigo Heights, Centro 81, Grand Square Mall, T27, Gulberg Galleria and Tricon Corporate Centre. And the same variation occurs in the rental prices of shops, offices, and showrooms in the plazas. Both property owners and landlords have their own set of rules and specific demands for selling and rental price. The price is often justified with the location, exposure, property condition and availability of specific amenities.
In short, the area has fully become commercial hub and most of the developers are now targeting local and international brands, food chains and corporate firms to show their presence here. However, still we advise you to consult real estate experts before investing your money in any of these developments as they know the developments’ scope better than you.