DHA City Karachi is Pakistan’s first sustainable housing community. The project was launched in 2010 and has changed a lot since then, especially in terms of property prices.
The Defence Housing Authority (DHA) has recently declared that DHA City Karachi has delivered more than 100% profit in the last year alone. What a tall claim that is! The authority has also termed it a ‘unique’ investment option that stands out from all other housing projects in the country.
In order to confirm this claim, we turned to stats meticulously compiled by Zameen.com and chanced upon some amazing facts.
According to Zameen.com’s property price data, the average sale price of 10-marla plots in DHA City Karachi was PKR 2,694,337 in December 2014. Today, it stands at PKR 5,476,717. This means that prices have increased by a staggering 103.25% from December 2014 to November 2015.
Growth was the order of the day for the 1-kanal category as well. According to Zameen.com’s stats, the average sale price of 1-kanal plots in DHA City Karachi was PKR 3,814,301 in December 2014, which climbed to PKR 7,591,371 by November 2015, posting a hike of 99.02%.
Considering the impressive rise in property prices in one year, DHA’s claim seems to be reasonable and well-founded. The authority has also said that the society will be liveable by 2016, which means possession of properties may be announced soon, especially that of Sector III.
According to an estate agent who requested anonymity, roads and sewage systems are complete in the sector and it is ready for possession. He added that development work is underway in other sectors as well and the main road has been completed up to Sector XIII.
What about DHA City Lahore?
DHA City Lahore’s status, on the other hand, is currently unclear as there is no development in the locality and no impressive sale-purchase activity either. Even the prices of 10-marla and 1-kanal plot files are in the minus these days, which means they are being traded at a loss compared to their booking values. Only the 5-marla category is proving to be profitable at the moment.
If DHA undertakes development work in DHA City Lahore, the locality can be on par with DHA City Karachi.Karachi’s project is undoubtedly an investment haven worth considering and investors would certainly like to see DHA City Lahore flourishing in the same manner.
Please share your views in the comments section below.
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It is excellent post and informative. I wanted to request the team to share their analysis on price since 2010. I know, it will be bit more work but this will attract people more – as they will see themselves that a DHA city started from this low price and not is on this price.
Thanks for this report and hope to read such more reports from your team.
Regards,
Syed Ali
Dear Zaina,
Can you please write any update or latest news about DHA City Lahore and draw attention of higher authorities on DHA City Lahore. People have paid and no visibility about this project at all. There is no accountability. You have written few months back but if recently any development in near future about this project.