DHA Lahore Phase 9 plot rates after balloting

DHA Phase 9 has been the highlight of Lahore’s real estate sector for the better part of 2015’s first half, but were those investment prospects overrated? Our latest data says that is highly doubtful. In the last couple of months, the swiftly changing rates of Phase 9 files gave a bit of an adrenaline rush to all of those who had invested in the project. There even came a time when buyers and investors were desperately on the lookout for Phase 9 files for weeks but file owners were simply not interested in selling, and for good reason.

Zameen.com is glad to have accompanied you during the entire time you were anticipating balloting as well as when you were excited to see the prices rising.

The investment in Phase 9 was thought to be promising for short-, mid- and long-term investment and time has proved that to be right. Zameen.com has been keeping a close eye on the market for these files and predicted a while ago about the balloting and expected price rise of files in Phase 9.

The balloting has been done; it is now time to analyse the rates of these files and see where they are headed in future. Meanwhile, please note that any investment made in Phase 9 right now would be long-term.

In January 2015, just when the rumours of Phase 9 balloting were reaching fever pitch, the average rate of 5-marla files, as noted by Zameen.com, was PKR 1,875,000. By March 2015, their average market rate had increased to PKR 2,225,000, a price rise of 18% in these 3 months and the price rise phenomenon continued afterwards, particularly for these 5-marla files.

The average sale prices of 10-marla and 1-kanal files, per the portal’s stats recorded in January this year, were PKR 3,300,000 and PKR 5,035,000 respectively. Higher demand for smaller plot files tend to tone down the price rise patterns of bigger plot files, and this is exactly what happened in Phase 9. Rates of 10-marla files remained virtually unchanged during the first quarter of 2015 while the prices of 1-kanal files increased by 7.25%.

But that’s old news, because a lot has changed since the balloting of DHA Lahore Phase 9, which was held on May 15, 2015. The average rate of these files started to increase instantly after DHA announced the balloting date. As of May 2015, the average rate of 5-marla plots in Phase 9 was PKR 2,800,000, which is a rise of 49% recorded between January and May 2015.

Since the official map of Phase 9 is out, some blocks are more popular than the rest. For 5-marla plots, R Block is currently hot among investors with average prices looking good to cross PKR 3,000,000 anytime now.

Between January and May 2015, the average market price of 10-marla plots has increased by 28%; they are currently being traded for PKR 4,250,000 on average. For these plots, K and R Blocks are more popular, where the average rate, as of May 2015, is PKR 4,600,000; a price rise of 38% between January and May 2015.

One-kanal plots in Phase 9 are currently being traded at an average rate of PKR 6,450,000 and their price has gone up by 29% since January 2015. For these plots, F Block is more popular and the average rate of the plots in this block is PKR 7,000,000; a price rise of 40% in the first 5 months of the year.

Considering the size of Phase 9, people expect that it will take about a decade before DHA develops it fully and hands over possession, but our sources say much of it will be done by 2020.

Now that all has been cleared, one question that comes to mind naturally is where to buy plots in Phase 9 now for short- to mid-term investment. I am saving that for the next article, which I will In sha Allah write soon.

If you have any thoughts to share regarding DHA Lahore Phase 9 investment, please use the comments section below.

Note: Some of the rates quoted in this article were sourced from Rana Estate Advisor  CEO Mr Rana M. Aslam. He can be reached at the following numbers:+92300-484-7332, +92333-424-2368.