Al Kabir Town Phase-II: Revised payment plan for Umer Block

Al Kabir Town proved to be one of the most popular housing projects in Lahore last year, and not without good reason.

As soon as the developers built and delivered the scheme’s initial Block A and B sections, they knew that they had struck some property gold. The intense buyer/investor interest garnered during this moment succeeded in putting the society at the top of the city’s real estate charts.

Phase-II was launched soon afterwards, and it too emerged as a very popular investment avenue for buyers.

Umer Block is the latest block development to come out of Al Kabir Town Phase-II. The block currently offers 3-marla, 5-marla, and 7-marla residential plots – with all of these still available for booking.

About a week ago, the project administration revised its payment plan for the 7-marla plots. This revision has presented a great opportunity for buyers and investors to book their plots at a very competitive price (and through an easy payment plan).

Here’s what you need to know about the updated payment plan and other project developments:

Revised Payment Plan

As a prominent feature of the revision, the down payment amount for 7-marla plots has been significantly reduced. The difference from the earlier figure has been adjusted into the instalments schedule.

The instalment plan extends for a period of five years. Following the receipt of downpayment, the remaining amount can be paid in 60 monthly instalments.

In the table below, you can find the complete payment plan for all plot categories currently on offer.

 The matter of LDA approvals

According to the on-ground sources interviewed, the developer has applied to attain approvals for Al Kabir Town Phase-II from the authorities concerned. No estimated date, however, has been announced for when the project will be granted legal sanction.

Should you invest?

According to Sheikh Hamza Nadeem of Al Aziz Marketing, both genuine buyers and investors are taking a lot of interest in these newly launched plots.

For one thing, their location is good.

Al-Kabir Town is situated on Raiwind Road, not far from the Beacon House National University; while the Phase-II section sits on the opposite side of Lake City, Lahore. When considered against mostly every real estate benchmark, the project itself is a great addition to Lahore’s housing market. The developers also hold a good reputation within the city’s property circles.

Another noteworthy fact (that you should bear in mind) is the scheme’s affordability. The plots are available on a long and easy payment plan – a boon for middle-income families.

On the flipside, however, you should know that the development & approvals process is expected to take time. So if you are looking to construct a home any time soon, it may be wise to turn somewhere else. The housing scheme is expected to cater well to both short-term and medium-term investors, however.

At the moment, the project (as mentioned) is still in its booking stage, and it is likely that an asking premium on plots will be demanded soon. If you’re willing to invest for the long run, you can choose to pay the instalments first and sell the plots later (with the promise of a high margin of profits).

Are you interested in buying a plot in Al Kabir Town Phase-II? Do you have any questions or concerns regarding your decision? You can discuss them with us in the comments section below. Alternatively, you can head on over to the Zameen Forum for a detailed conversation on the topic.