The latest LDA Avenue I update on rates and buying trends

LDA Avenue I is among the many housing societies where the active buyers aren’t short-term traders, but are essentially those who have long-term investment plans or those looking to construct their homes in the near future. The society has also been facing issues about litigation where hearings are underway in the courts. This also means that some blocks here hold potential to reward investors who have access to all the related information.

This article is meant to give you an overall depiction of the market’s current standing on the project, an insight into each block, its litigation status, and property rates.

Market trends

While a big percentage of active buyers are seen opting for plots that have been cleared from litigation, there are some investors who go for the blocks and parts of the project where the original owner of property is heard of sorting the matter out with the Lahore Development Authority (LDA). These plot files are not available for transfer as the authority doesn’t hold possession of the land. These are instead sold on the decree issued by the court where the case was being heard.

For litigated areas, the possession of which lies with the LDA, the plots are sold on an affidavit signed by buyers that he will accept the court’s decision on the disputed land and will not file a case against the LDA if the authority doesn’t hand over the plot’s possession. While the LDA is committed to adjust all owners whose plots fall in the disputed areas within the same society, the terms of the affidavit are agreed upon by mostly those who understand the procedure of going about the possible repercussions.

Project status

According to our sources, the LDA has been in the process to adjust the plot owners by reducing the plot sizes by a small percentage to create more plots. The plot owners are taken into confidence before such a move is made. In this regard, new maps of the respective blocks are also issued from time to time. Reportedly, the society is left with approximately 1,200 plots which are yet to be adjusted.

In the meanwhile, property owners who win the cases against litigation disputes taken to the court, also table their demands before the LDA to surrender the land. As soon as news about such talks finds its way to the market, the demand for plot files in that specific block goes up. Sources also claim that rates of such files go up multiple times as soon as the LDA and owner of the land come to an agreement.

So, which blocks have such land pockets which could potentially turn out to be a goldmine for lucky investors and which blocks are completely safe for buyers willing to take no risks? Let’s find out.

A look at the status of each block

Block A

The block is home to around 10 families. Here, approximately 40% of the total area is in litigation, most of which comprises 1-kanal plots, while the 10-marla plots are clear from any land disputes. Since the LDA has possession of the litigated land, these plots are sold with an affidavit signed by the buyer.

Block B

Around 80% of land here is in litigation, while only a few families live here. This block mostly comprises 1-kanal plots, and since the LDA has possession of the litigated land (colloquially terms as soft litigation), property rates here aren’t much lower compared with that in blocks where possession lies with the original owner.

Block C

Litigation issues here exist in 70% area of the block but the block is home to over 70 families. Here, the number of existing 10-marla houses is higher than their one kanal counterparts. And the governing authority has the possession for litigated land, property rates here haven’t crashed.

Block D

It is considered a comparatively better block as litigation issues here are limited to 30% of the block’s total area. Block D is home to 70 families. The buyers not looking to take risks of buying litigated property are also less wary of investing in this block.

Block E

This block is missing from the map as it is 100% in litigation. In fact, it has been confirmed that these plots will be adjusted in other blocks. Due to its vague status, the file owners are also waiting for the LDA to announce its adjustment plan for Block E. In the meanwhile, almost no files make their way to the market for resale.

Block F

It is considered as one of the best blocks among genuine buyers as only 10% of its land faces litigation issues. Block F is home to 25 families living in 10-marla houses, as this plot category is all cleared from litigation.

Block G

Litigation issues in this block spread to 90% of the total area and the court has also announced its verdict against the LDA, which doesn’t seem to be a problem, because the owner is now sorting details with the authority to hand over this land. It is the sole reason why the demand for plot files in Block G is high and that’s despite the fact that the owner has to have a decree issued by the court to buy a plot file. The rates mentioned below are for the plots which aren’t in litigation.

Block H

It is also among the blocks having low litigation issues; 5% of the total land. Currently, Block H is home to 15 families. Here, you will only find 1-kanal plots.

Block J

Around 10% of Block J’s land is in litigation, which is why it is popular among the end users. Currently, 55 families live here. Block J is also considered prime as its 1-kanal plots are located on the 100- and 150-feet wide main boulevard, explaining their high market rates:

Block K

Block K features the society’s main commercial area, as per the society’s LDA-issued map, and 95% of its land is in litigation. This litigation isn’t “soft” as the LDA doesn’t hold possession of this disputed land, which is why plot files here can only be sold after the court issues a decree.

Block L

Percentage of litigated land is also high in block at 95%. And since the LDA has possession of 10% of the litigated land, the remaining comprises plot files available for sale only on the court’s decree. Due to this, property rates are also comparatively lower.

Block M

At 10% litigation, Block M attracts genuine buyers and long-term investors. Even short term traders have little concerns over buying plot here in the litigated areas as the LDA allows their sale with an affidavit.

If you have any feedback to share on the article, let us know through your comments, and if you wish to seek further consultation on buying or selling your LDA Avenue I property, give Al-Qura Estate & Builders CEO Abdul Wahab Cheema a call on any of these numbers: +92-300-369-4212, +92-333-3894212.