Gulberg III — Lahore
Phase: Gulberg III | Character: Premium residential with major commercial corridors | Status: Fully developed | Most Popular Phase for Families
§Overview
Gulberg III is the largest and most populated phase of the Gulberg district — a sprawling premium residential and commercial zone that is home to Lahore's most famous commercial street (MM Alam Road), the landmark Packages Mall, and dozens of blocks filled with elite family bungalows and increasingly, luxury apartment towers.
If Gulberg II is the business center, Gulberg III is the lifestyle capital — the area where Lahore's upper-class families live, shop, dine, and socialize. MM Alam Road alone is considered Pakistan's most vibrant restaurant and luxury retail strip, drawing visitors from across the country.
Gulberg III covers an enormous area with diverse sub-sectors:
- •Ultra-premium streets (MM Alam Road area)
- •Established family residential blocks (Blocks A through P)
- •Modern apartment clusters
- •School and hospital zones
- •Commercial markets (Liberty, Packages Mall vicinity)
§Location & Boundaries
| Direction | Boundary |
|---|---|
| North | Main Boulevard (border with Gulberg II) |
| South | Canal Bank Road |
| East | Wahdat Road |
| West | Ferozepur Road (partial), Shadman Colony edge |
Landmark Coordinates: Centered roughly around MM Alam Road and Liberty Market intersection
§Blocks Overview
Gulberg III is divided into alphabetically labeled blocks (A through P and beyond), each with distinct character:
| Block | Character | Typical Property |
|---|---|---|
| Block A | High-end residential; wide streets | 1 Kanal bungalows |
| Block B | Premium family housing | 1 Kanal, 10 Marla |
| Block C | Mixed residential-commercial | 5–10 Marla |
| Block D | Mid-range residential | 5–10 Marla houses |
| Block E | Well-established; near schools | 10 Marla–1 Kanal |
| Block F | Premium; near MM Alam Road | 1–2 Kanal |
| Block G | Quieter residential | 10 Marla |
| Block H | Near Liberty Market; lively | Mixed 5 Marla–1 Kanal |
| Block J | Good residential value | 10 Marla |
| Block K | Newer, some apartments | Mixed |
| Block L | Residential; near Canal | 10 Marla–1 Kanal |
| MM Alam Road Corridor | Premier commercial | Shops, restaurants, offices |
| Liberty Market | Dense retail | Commercial shops |
§Property Rates (2025–2026)
Residential — Purchase Prices
| Property | Price Range (PKR) |
|---|---|
| 2 Marla house | 57 Lakh – 70 Lakh |
| 3 Marla house | 90 Lakh – 1.25 Crore |
| 4 Marla house | 1.25 Crore – 1.7 Crore |
| 5 Marla house | 1.19 Crore – 2.2 Crore |
| 6 Marla house | 2.25 Crore – 7.8 Crore |
| 10 Marla house | 2.5 Crore – 5 Crore |
| 1 Kanal house | 4 Crore – 12.5 Crore |
| 2 Kanal bungalow (MM Alam Road area) | 20 Crore – 40 Crore+ |
Source: Graana.com and market data as of 2025
Residential — Rental Rates
| Property | Monthly Rent (PKR) |
|---|---|
| 5 Marla house | 40,000 – 80,000 |
| 10 Marla house | 80,000 – 160,000 |
| 1 Kanal house | 150,000 – 350,000 |
| 2-bed luxury apartment | 50,000 – 120,000 |
Commercial — MM Alam Road & Liberty Market
| Property Type | Rate |
|---|---|
| Shop on MM Alam Road | PKR 5 Crore – 25 Crore purchase |
| Restaurant space (3,000 sq ft) | PKR 600,000 – 2,000,000/month rent |
| Shop in Liberty Market | PKR 80 Lakh – 5 Crore |
| Office above MM Alam Road shops | PKR 100,000 – 400,000/month |
| Commercial plot (4 Marla, MM Alam) | PKR 10 Crore – 20 Crore |
§MM Alam Road — Detailed Profile
MM Alam Road is Gulberg III's most famous commercial artery — a roughly 1.5 km stretch that has transformed into Pakistan's premier dining, lifestyle, and luxury retail destination.
What's on MM Alam Road
- •Fine dining restaurants: Cosa Nostra, Tuscany Courtyard, Andaaz, Yum!, Kolachi (Lahore branch), and 50+ more
- •Luxury fashion: Breakout, Khaadi flagship, Generation, Sapphire
- •Cafés and desserts: Gloria Jean's, Espresso, The Coffee Bean, Monal (Lahore), and dozens of independent cafés
- •International food chains: McDonald's, KFC, Hardee's, Pizza Hut flagship outlets
- •Banks: Multiple premium branches
- •Beauty & wellness: High-end salons, Derma clinics
Commercial Rates on MM Alam Road (2025)
- •Ground-floor retail: PKR 500,000 – 2,000,000/month for established branded spaces
- •Corner properties: 30–50% premium over standard rates
- •F&B outlet turnover per top restaurant: PKR 5–15 million monthly
§Packages Mall Area
Packages Mall, located at the southern edge of Gulberg III near Canal Road, is one of Lahore's largest shopping malls (~1.2 million sq ft GLA). Its presence has added significant value to surrounding residential and commercial properties in Gulberg III:
- •Increased footfall to surrounding areas
- •Anchor-tenant effect raises neighborhood commercial rents
- •Properties within 1 km of Packages Mall command a 10–15% premium
§Schools & Educational Institutions
Gulberg III has one of the highest concentrations of elite schools in Lahore:
- •Lahore Grammar School (LGS) — multiple branches
- •Beaconhouse School System
- •City School
- •Froebel's International School
- •Roots International School
This makes Gulberg III the first choice for families relocating to Lahore.
§Healthcare Facilities
- •Doctors Hospital — one of Pakistan's top private hospitals, located within Gulberg III
- •Hameed Latif Hospital
- •Multiple specialist clinics and diagnostic labs
§Development Status
Gulberg III is fully developed with no available vacant plots. Development trends:
- •Apartment buildings replacing older bungalows across blocks C, D, J, K
- •MM Alam Road seeing luxury food courts and mixed-use towers replace single-story commercial
- •LDA approved high-rise mixed-use development along Canal Bank Road portion
§Investment Analysis
| Metric | Gulberg III |
|---|---|
| Annual capital appreciation | 8–12% |
| Residential rental yield | 6–7% |
| Commercial rental yield (MM Alam) | 8–10% |
| Market liquidity | Very High |
| Best investment size | 10 Marla or 1 Kanal |
| Target buyer | Families; rental income investors |
| Overseas demand | Very Strong |
Why Gulberg III Is the Most Popular Phase
- •MM Alam Road — lifestyle convenience unmatched in Pakistan
- •Packages Mall proximity for mega-retail needs
- •Best school concentration in Lahore
- •Safe, established streets with 24/7 security
- •Strong resale demand; never hard to sell
§Property Tax — Gulberg III
Category A under Punjab Excise:
| Property | ARV Estimate | Tax Rate | Annual Tax |
|---|---|---|---|
| 5 Marla residential | PKR 250,000 | 5% | PKR 12,500 |
| 10 Marla residential | PKR 500,000 | 5% | PKR 25,000 |
| 1 Kanal residential | PKR 1,000,000 | 5% | PKR 50,000 |
| MM Alam Road shop | PKR 3,000,000 | 10% | PKR 300,000 |
ARV = Annual Rental Value as assessed by Punjab Excise. Actual values may vary.
§Legal Notes
- •Freehold LDA scheme; all documentation straightforward
- •LDA Plot Numbers on original scheme map are the legal identifier
- •MM Alam Road commercial properties have old-scheme commercial approvals — no change-of-use needed
- •Liberty Market plots hold special commercial layout sanction from LDA
- •Packages Mall built under separate LDA commercial mixed-use approval
PPG Investments Team
Pakistan Property Guide