What’s causing price hikes in DHA Gujranwala?




Defence Housing Authority (DHA) projects have been keeping things interesting in realty markets all over the country. DHA Gujranwala, as our last market report revealed, is actually the one project that outshines all others when you look at the city’s realty market. This particular project continues to surprise many with constant and sharp price rises.
Looking at the price trends property rates in DHA Gujranwala started to go up in June last year, just when the new budget was announced.
Price appreciation continues to inch up in the project, despite the fact that it has not seen a heavy volume of trade. Moreover, it continues to perform well in a market where some people have diverted their attention to buying plot files instead of actual plots to avoid paying taxes. Typically for properties where possession is available – for instance, when you buy a plot or house – the investor has to pay up a stamp duty, capital value tax (CVT), and advance tax, which is not the case for plot files.
Trade activity seen in DHA Multan and DHA Bahawalpur has pushed up rates in DHA Gujranwala. The former two projects have been officially launched, are undergoing development, and their land has been acquired. DHA Gujranwala, on the other hand, enjoys no such status – but prices continue to move in an upward trajectory.
Price Trends
In April 2016, the market rate of 10-marla and 1-kanal residential plot files in DHA Gujranwala was PKR 1,800,000 and PKR 2,800,000, respectively, and the rates at present rest at PKR 2,800,000 and PKR 4,800,000.
What we are looking at is a price rise of 71% and 56% for  1-kanal and 10-marla plot files. It is not just that the rates have been rising ever since, occasional dips were also noticed, but prices always bounced back
Development status
Currently, there seems to be no indication that the project will be launched anytime soon, and the authority is still working on acquiring land.
According to sources, more than 15,000 acres of land has been bought for DHA Gujranwala and the process, despite its slow pace, is still ongoing. While I believe that 15,000 acres is a decent size for DHA Gujranwala to launch its first phase, it does not seem like the authority is convinced.
Some believe that delays in DHA Gujranwala are a result of the authority’s focus on DHA Bahawalpur.
There are people who believe that the block DHA Gujranwala is seeing in terms of related development is due to the early launch of DHA Bahawalpur and somewhat robust trade activity that demanded similar action in DHA Multan.
What to expect?
Looking at how the rate of DHA Gujranwala files has been inching up,the phenomenon will continue for a while before it slows down and eventually reverse. The assessment rests on the fact that DHA Gujranwala is not moving forward with any development. In such circumstances, it is only natural for investors to lose interest.


Comments

  1. Ali28 May 2017 at 22:41

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