Hi, just thought of compiling miscellaneous property updates under one thread to avoid the hassle of going thru different posts.
A piece of 69 kanals land, subdivided into four plots measuring from 10 to 30 kanals, has been allocated for establishing a bank square in this first ever planned business hub of Punjab, spreading over an area of 1123 kanals in Johar Town near Expo Centre in Johar Town Phase 2.
A superstore plot measuring 90 kanals and a five star hotel site measuring 118 Kanals, situated in the centre, have already been auctioned by LDA, generating a sum of Rs 3 billion for executing different development projects in the city. Construction work is also underway on the two plots.
Two Mega Housing Schemes on the bank of Ravi River
LDA City & Ravi Riverfront The proposed project entails high quality residential, institutional, commercial and recreational zones on the western margin of Lahore, Pakistan’s second largest city. The project area contains approximately 50,000 hectares of land along a 36 km long stretch on either side of the river Ravi.
LDA City will be developed on ferozepur road, starting from butcherkhana distributary spanning over 45,000 kanals of land
The scope of work and applications for Expression of Interest (EOI) are already floated by the Government of Punjab through The Urban Unit
Thank u brother MBS for such valued input . Another development in my knowledge is that Bahria is going to launch a new scheme Bahria Town Green Valley Orchard Near Jati Omrah. Means near the Accomodation of Nawaz Sharif and Shahbaz sharif. I would share other details of Installments and Down Payement as soon as i get know about these details.
Great threads!
Let's also take into account two of MBS' earlier threads.
Thanks everybody for keeping us informed. I hope you shall continue the good work & update regularly. Is there any link here to show the current market prices in different areas / schemes in Lahore?
Lake city is still in progress but very slow. I am personally very confused about lahore, where to invest.
Hello Fellows,
I will highly appreciate your valuable input in a similar thread:
DHA Phase 9 Lahore price is stable at 51.5 lacks from last ten days otherwise it was increasing sharply. Most of the overseas Pakistanis came back to Home for Eid-ul-fitr invested in these files. The hopes and expectations of balloting in near future are getting down now. Lake City can also perform well in near future because its top management is giving full time to society these days and they are planning to sell its commercial plots as well.
In most of the real estate, the prices are consolidating now with a steady increase pertaining to inflation and rupee devaluation.
Agreed with MBS
LDA Avenue 1 will be getting possession soon, InshaALLAH.... as WAPDA is busy in providing electricity to the locality and the work will be completed by the end of December.
regards, z@in N@deem
Bro Zain , Can you please post an update on litigation issues in DHA1? It is worrying as some members had opted for the Scheme to build houses before their retirement and a few others have huge pressing family obligations. A number of them have died waiting. Wonder what is happening at LDA to remedy the situation?
Thanks for sharing that Zain. I am sure it will be a great relief for many... It was long due.
Yes; really many people are stuck in LDA Avenue-1. Congratulations to all those people
LDA City
The Lahore Development Authority (LDA) has initiated selecting suitable engineering firms to plan and design the city's largest residential scheme, the LDA City on Ferozepur Road.
The LDA has received expression of interests from 24 firms, including NESPAK
A high-level committee of the LDA decided to acquire the land through development partners on the patterns of the DHA
Six development partners, including Paragon City and the Central Park (Lahore), have already been on the shortlist and tasked with acquiring 45,000 kanals and handing it over to the LDA through the requisite sale deeds. According to the contracts signed between the LDA and the partners, the firms will be liable to buy the land on their own and handover it to the LDA. In return, the LDA will give them 30 per cent of the developed plots of the land they surrendered and one per cent commission of the land price fixed by the LDA authorities
The process to evaluate planning and designing consultants is likely to be done before Eidul Adha (Oct 16)
Link road between Multan Road and Sundar Industrial Estate will be constructed
Dear MBS, Looking forward to your analysis on the drop in DHA 9 prices. Regards.
Dear Tausif
Although you did not ask me this question and I am not property expert as well. Any way; as per my judgment following are the two reasons of DHA phase 9 file drop.
1-Supreme court decision against the DHA land acquisition from another government institution. I think that land was supposed to be used for Phase 9. 2-Already price increased due to speculation of some big property dealers. These dealers usually trapped overseas Pakistani for investment who came back for Eid-ul-Fitr holidays. I hope you would have observed that property prices increased sharply during Ramadan and one month after Eid-ul-Fitr. Now; correction is going on in DHA all phases.
Regards, Irfan
NOMAN ALI