In order to assess the metal pollution status of agricultural lands of Mandi Bahauuddin receiving industrial wastewater, 35 top soil samples were investigated for the determination of selected metal levels, i.e., Fe, Cu, Cd, Cr, Ca, Ni, and Pb by flame atomic absorption spectroscopy under optimum analytical conditions. The distribution of these metals in different operationally defined chemical fractions was also determined by using the sequential extraction technique. The highest mean total concentration was found for Fe while the least one was observed for Pb. All the studied metals were found to be present at levels much enhanced than national and international standards. Moreover, most of the metals were distributed principally in residual fraction with the exception of Ni which was found to be associated mainly with oxidizable fraction. The significant correlations were observed between Fe-Mn oxide-bound and residual fractions and exchangeable and oxidizable fractions for most of the metals. The highest mobility was exhibited by Ni that evidenced its enhanced bioavailability in the soil. The multivariate statistical analyses in terms of principal component analysis (PCA) and cluster analysis (CA) revealed multiple sources for various geochemical fractions of different metals. CA also revealed that the nonresidual fractions of most of the metals were very closely associated while PCA presented a distinctive behavior of Ca in the soil. It was therefore suggested that in order to avoid the metal contamination arising from industrial wastewater, appropriate remediation strategies must be adopted.