I have been updating you about developments in Bahria Town Lahore’s Golf View Residencia (GVR) for quite some time now. In my previous posts on the project, I discussed the effects of the Lahore Ring Road (LRR) on GVR and today I am going to discuss the price surge that this project has been experiencing over last few days.
Malik Riaz, during his recent meeting with Bahria Town Lahore’s affectees, claimed that development work would be started in GVR within a month and told members to stop paying instalments (if any) until the commencement of infrastructure development. Furthermore, he outright said that the LRR would not cut through GVR.
These statements have led to a property price surge in the locality. According to sources, the sale price of 1-kanal plots in the locality has seen a PKR 500,000 to PKR 1,000,000 increase and same is the case with the 10-marla lot.
Currently, 1-kanal plots range between PKR 10,000,000 and PKR 11,000,000 in value, while for 10-marla category, the market price range is PKR 5,500,000 to PKR 6,000,000.
You must also note that prices of properties in the Southern Zone are comparatively lower than those in the Northern Zone.
Availability of land
Bahria Town claims that it owns all the land required for the project. Moreover, rumours about the shifting of the project from its current location to somewhere near Bahria Orchard do not seem to hold any gravity at all.
You can just access the Northern Zone of the locality up to plot # 319 from Sector C of Bahria Town, which is adjacent to GVR. Please see the image below to have a better idea. Southern Zone, on the other hand, shows no traces of development, which is why property prices are comparatively lower in this zone.
Issue of LRR
If the LRR cuts through GVR, it will affect plots as shown in the image below. However, I am really hopeful that Malik Riaz’s claim about this issue is accurate.
Should you invest in GVR right now?
Property prices in GVR have increased after the announcements made by Malik Riaz. These prices can spike further if development work begins within the stipulated time. Otherwise, investor sentiment will start to wobble once again and rates will most likely follow a downward trend.
So, I think people should wait until the start of development work in GVR and make an investment decision right after that.
I am not being a pessimist at all. I just want people make an informed decision and not play the game in haste.
GVR was launched more than 3 years ago. Many investors have already paid all the instalments. Even though some of the investors stopped paying instalments because of the controversies faced by the project, Bahria Town didn’t cancel their plot files.
The project has another access from Raiwind Road, according to its map, and has the potential to offer massive returns to investors if Bahria Town abides by its promises.
Let’s hope for the best. As always, I will be available for further discussions in the comments section below.
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Good advice for investers
Yeah, I always suggest investors to take informed decisions without following the bandwagon. People look at others and follow them without scrutinising the prospects of a society themselves.
Zain bahi,
This article is of particular interest to myself and I thank you for summarizing the current situation into a blog.
However, I have some questions.
1) What is the reason of price difference between GVR North and South ??? (As you mentioned).
2) How long will this take before the situation is 100% clear ?
3) Has the development already started in Northern Zone ?
4) If LRR is not passing through Bahria Town -> What is its proposed route ? Where will it pass from ?
5) Recently, I saw an update on zameen.com that FWO was granted contract to build LRR Section 1 and 2.
It had no mention to develop section 3 which is cutting Bahria Town.
Regards
Here are the answers to your questions:
1) There is a difference between GVR’s Northern and Southern Zones because the LRR expected route will affect the Southern Zone more if the previous plan is implemented, which in my personal view is highly unlikely. Secondly, Northern Zone can be accessed from Bahria Town’s Sector C up to plot # 319.
2) I have no idea about the time frame for the clearance of matter.
3) Some area of Northern Zone is developed.
4) According to a notification, Bahria Town will propose the new route, however, there is no update from Bahria in this vein.
5) Yes, the project for the development of Section 1 and 2 has been granted to FWO, but Bahria Town has taken stay for the 3rd package.
Let know if you need further information
Thanks Zain Nadeem.
The lower prices and other controversies about GVR was a big concern for me, as invested in it almost 2 and half years ago. The same amount of investments in residential plots were made in on ground plots of sector F that gained 3 to 4 millions, but GVR plot was in a loss. A sigh of relief that now we are hearing optimistic news about it and prices are increasing. So what do you suggest either to hold it for a longer period of time or may sell it?
As bahria has announced that they have acquired most of the land and development may start soon, So don’t take any decision in hurry. Though there is risk factor involved too that if development work didn’t start then prices might start moving downwards again. So you better hold for sometime but not for long and see what happens.
Yeah, that’s some good advice.
Dear Yousuf,
It depends on the development work. The prices can reverse if Bahria Town does not start development work within the stipulated time.
I suggest yo keep an on prices to take an informed decision.
For further details, you can contact me at: zain ‘dot’ nadeem ‘at’ zameen ‘dot’ com
Thanks so much for you advice 🙂
You are welcome Yousaf Bhai
Dear Zain,
Is it true that Bahria is inaugurating GVR’s Raiwind Road entrance within next 2-3 weeks, please check from your sources and confirm.
Thanks
I have sent you an email. Please read it
Dear Zain Bhai
Aoa.
Thanks a lot for yours imp article .. advice…
Sir kindly give us information …news …update ..Advice about very very HOT issue of LRR and BT..Lhr
With Warm Regards and Thanks from All possible affectees..
Rasheed Sb,
There is no further update on LRR’s route in Bahria Town yet. Rest assured, I am keeping an eye on the issue and will update readers as soon as any update becomes available.
Thanks a lot Zain bhai.
JazakAllah
Dear bro., Zain
Now it has been cleared that LRR is passing through BTLahore, now what is your comments regarding this.
Bilal
Aoa, kindly tell me the status of plots from 762 to 766 at north side of GVR bahria town.mine and my friend plot is in between these plots.you can e.mail me .thank you
I
nowadays there is a rumor in market that Bahria cancelled all commercial plots in GVR.and thinking to cancel residential too.kindly inform us if theres any news like this.
Aoa, I heard some rumors in market that bahria canceled gvr commercial plots and may be they will cancel residential plots too.kindly if anyone knows about it please share.
What is the latest on GVR? Expected development has not yet started? Is there any hope?
what is latest on .GVR? Expected development has not started yet. Is there any hope?
salam zain bhai.. do you have any new updates on this issue. is the development work started in GVR southern zone. Have prices increased or decreased.