Along with new property developments such as LDA City, Lake City, and Central Park, most of which are still in their initial stage of construction, the city of Lahore still features many well-developed and settled neighborhoods, providing property buyers with plenty of investment options. Johar Town and Wapda Town, which are LDA approved luxury residential communities.
Project Overview And Other Important Details: Johar Town & Wapda Town
So, how about buying a property in Johar Town or in Wapda Town Lahore? We will list and explore the most common facets of real estate investment as well as available property choices in the localities to advise you on this.
Wapda Town Lahore
This residential system was launched for the Water and Power Development Authority workers first but then opened its doors to the general public later. Wapda Town Lahore consists of both the Phase 1 and Phase 1 expansions. In fact, Phase 2 production work is done as well.
Ultimately, this community provides 12,000 housing units inside it. This is a well-planned and developed housing society in Lahore, stretching over a 17,000 Kanal area. It lies near the Nespak Housing Society, Valencia City, and Cooperative Employees Housing Scheme of the Punjab Government. Furthermore, each Wapda Town Process contains different blocks within it. All those blocks are in alphabetical order.
The town of Wapda, Lahore, is a gated community on Khayaban-e-Jinnah Avenue. It dates back to 1978 when it was founded in Lahore for the employees of the Water and Power Development Authority (WAPDA), but it gradually allowed the general public to purchase property in this housing scheme. Wapda Town spans 17,000 Kanals of land and comprises Phase 1, Phase 1 Expansion, and Phase 2 extensions. Although Phase 1 is well-developed and its expansion, Phase 2 is fairly new and houses are still being constructed there. However, construction work is basically complete.
In addition, Wapda Town is surrounded by some of Lahore’s most prominent housing firms, including the Valencia Housing Society, the Punjab Government Cooperative Workers Housing Scheme, Eden Villas, and Tariq Garden, to name just a few.
Property investment in Wapda Town
It poses as the best choice when it comes to investing in the southern Lahore area, particularly for investors who are planning to invest in developed properties instead of plots to get regular monthly income with the constant increase in property value, demand, and rental yield over time.
This location is the highest in terms of results on the rental market, which can be seen based on rising demand for a rental property in Wapda Town which annual rental yield. Investors need a big budget (around 1 billion or more, depending on the position of residential property in society) to purchase a 10 Marla home there, and only rich investors come forward to negotiate an arrangement.
Johar Town Lahore
Johar Town, an affluent Lahore residential community, is one of the places that have managed to maintain their everlasting magnificence & splendor. Several new high-end residential societies emerged in Lahore after that but Johar Town still has its own aura. It is situated a little away from Lahore’s other posh societies including Gulberg, DHA, and Cantt but nothing can snatch Johar Town’s title of the Town’s most famous and favorite posh town.
The area enjoys a prime place in the region since it lies near the motorway. While many new posh residential societies have sprouted around it, including WAPDA Town, PIA Society, Valencia City, it will be recognized as one of Lahore Development Authority’s biggest and most productive residential projects (LDA).
Johar Town is the largest suburban community in the South of Lahore and boasts both traditional and modern, well-equipped communities providing a variety of houses for sale and rent. Johar Town has a lot to offer both developers and upper & upper-middle-class residents, from tiny homes to big villas, and they can find their dream property within their budget range.
In addition to healthy neighborhoods, the town provides the best of public services & infrastructure-be it parks, hospitals, playgrounds, health care facilities, sewerage networks, large and carpeted roads, expansive green belts, transit systems, or grocery stores. In short, it is one of the best residential localities in Lahore not just in terms of facilities but also in terms of high rental yields and returns on investment (ROI).
In short, not only in terms of amenities but also in terms of high rental yields and return on investment (ROI), it is one of the best residential locations in Lahore. You can also find a state-of-the-art retail store i.e. Emporium Mall, where you can take your hands on a wide range of local and foreign brands to suit your retail requirements.
Property Investment In Johar Town
When it comes to renting out a house, not every homeowner is interested in taking the whole home, depending on the size of the family or the sum of the rental class. Therefore, in Johar Town, a new trend has been observed that upper and lower portions have become a common option among tenants, possibly due to a rent hike or easy accessibility.
When people purchase a house to stay in, they rent out to renters one of the parts of their homes to receive extra money. The demand for 5 or 10 Marla home rental portions is much stronger than the entire larger housing units which are definitely more costly. Depending on the location and condition of the residential house, the current average rent for a portion in a 5 Marla home is from Rs25,000 to Rs35,000.
Property Price Trends
Here are the average rates for buying a property in Wapda Town Lahore:
- You can buy a 5 marla house for an average price of PKR 1.33 crore in Wapda Town Lahore.
- The average price for the region is PKR 76.31 lakh for 5 marla plots.
- On average, a 10 marla house for sale in Wapda Town Lahore, has cost PKR 2,19 crore.
- In the housing society, the price of 10 marla parcels is estimated at PKR 1.28 crore.
- The average cost of purchasing a 1 Kanal house in the gated community is PKR 4.17 crore.
- On average, PKR 2.05 crore is priced at a 1 Kanal plot for sale in Wapda Area, Lahore.
Here are the average rates for buying a property in Wapda Town Lahore:
- The selling price for the sale of 5 marla houses in Johar Town Lahore, hovers on average at PKR 1.3 crore.
- The expense of the residential population of 5 marla plots is estimated at PKR 83 lakh.
- A 10 marla house with an average price of PKR 2.4 crore comes in Johar Town.
- On average 10 marla plots are valued at 1,5 crore for sale in the locality.
- Bigger dwellings such as 1 Kanal house for sale in Johar Town, come with an average PKR 4.7 crore asking price.
- Likewise PKR 2.7 crore is the average cost of 1 Kanal plots in the town.
Johar Town Or Wapda Town – Where To Invest?
Johar Town’s two phases seem common among buyers of properties. Block Q in Johar Town’s Phase 2 is the top place to buy 5 marla houses in the housing society, Block F2 in Phase is most common among those looking for 10 marla units, while Block G3 in Phase 2 is the top-search neighborhood for 1 Kanal houses for sale in the place.
On the contrary, Wapda Town society provides many luxurious houses at affordable rates for sale. In comparison, prospective renters can also consider well-equipped 1- Kanal houses for a PKR 50 thousand monthly rent to PKR 1.5 lakh.
Be it Johar Town or Wapda Town or any other society, before making an investment, you must consult an authorized property dealer in Lahore such as Globe Estate & Builders.