When it first debuted, the National Fertilizer Corporation (NFC) Employees Cooperative Housing Society Ltd caught investor attention because of its cheap prices. However, not much gain was there to be had since the society has been stuck in management issues for a long time now.
NFC Phase II is a project of NFC Employees Cooperative Housing Society Ltd Lahore. It was approved in the NFC employees’ annual general meeting in March 2002; but no real progress has been made since – both in terms of development and property prices.
Three different parties are fighting to take over management-related responsibilities for the society. The society also got a taste of litigation after a court case was filed, and a stay order was granted by the court over the management. This is the reason that elections to choose the new management for the society are yet to take place.
According to a society official, the High Court lifted the stay order, but a party to the case filed another petition. The verdict is expected on March 10, and development work is expected to begin soon after the elections are held and the new management has been selected. The official has also told me that tenders for infrastructure development are ready.
When asked about the proposed development of Lahore Ring Road (LRR’s) southern loop in the society, the official said that Block A and commercial plots located at the entrance would be affected. He added that the government has not given any official notification regarding compensation to those affected.
Investors who have a stake in the society need to wait until March 10, and hope for a favourable court verdict. If the ruling goes in their favour then property prices will see a sudden increase.
Currently, the prices of plots in the locality are as follows:
| Plot Size | Price Range |
| 5 marla | PKR 1,600,000 to PKR 2,500,000 |
| 10 marla | PKR 2,700,000 to PKR 3,500,000 |
| 1 kanal | PKR 4,000,000 to PKR 7,000,000 |
One-kanal plots on the society’s main boulevard are even valued at PKR 10,000,000. Mentioned prices were higher a couple of months ago, but then took a slightly downward turn.
Where is the project headed?
Property prices will increase after the resolution of management-related issues and completion of LRR’s southern loop. I believe that this is the right time for investors to jump into the society.
However, those who wish to live here need to adopt a wait-and-see policy, as currently there is no trace of development and the future management of the society will take years to complete development work.
Investors who already have their money in the society should hold onto their property for a little bit more time. However, they should keep a close eye on everything that is happening in the society so that they can take the right decision at the right time.
Investors should avoid commercial properties located at the entrance and avoid buying residential plots in Block A to avoid any complications because of LRR’s development.
I will keep you posted about further developments on the management related issues plaguing the society, along with the court verdicts.
If you have any questions about the society, feel free to discuss them with me in the comments section below.
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