The rumour mill’s been abuzz with news that State Life Cooperative Housing Society Phase II is merging with Defence Housing Society (DHA) Lahore. Well, I’m here to report that these stories are baseless, and investors should put their hopes away.
Phase II investors already know that the project has not shown any remarkable progress since its inception. This is largely because development work in the locality never really kicked off.
Recently, developers of the society thought of allotting alternate plots within Phase I to Phase II investors. Ten-marla plots were offered in Phase I against 1-kanal plots in Phase II. The value of these 10-marla plots currently hovers around PKR 4,000,000. Many people took up this option, but many Phase II investors are still stuck in limbo.
At the moment, if you forfeit a 1-kanal plot in Phase II, you can acquire a 4-marla commercial plot in Phase I. Otherwise, the developer plans to give 14-marla, 7-marla and 3.5-marla residential plots in Phase I against the 1-kanal, 10-marla and 5-marla residential plots in Phase II.
Plot owners are expected to get letters from the society to initiate the process within a month or so. However, State Life has not given its official word on the matter. If this deal does go through plot owners will also have to pay development charges at the rate of Rs 50,000 per marla.
The prices of plots in State Life Cooperative Housing Society’s Phase II are as follows:
| Plot Size | Price Range |
| 5-marla | PKR 1,400,000 to PKR 1,500,000 |
| 10-marla | PKR 1,900,000 to PKR 2,100,000 |
| 1-kanal | PKR 3,000,000 to PKR 3,500,000 |
Property prices in this locality have practically remained stagnant for quite some time now. However, I have heard that sale-purchase activity has picked up slightly in the last few weeks.
I still think that State Life Phase II is a risky investment and those looking to invest should remember that this will be a long-term engagement.
Have a question about the society? Ask away in the comments section below.
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Where is this society?
how much the 5 marla plot price on installment.
kindly advise detail on my email so that I can take initiative action.
where is this society in Lahore?
how much the 5 marla price on installment.
please advise on my email
Do you think is it worth to wait and watch or rather get rid of this investment and invest somewhere else?
Do you think is it worth to wait and watch or get rid of this investment?
Thanks Zain Sb. for sharing some details about this project.
What is your point to convert 1 Kanal plot into 4 marla commercial by giving extra 20 lakh.
Thanks a lot Zain sb. for shedding light on this project.
What is your opinion about choosing the option of 4 marla commercial by surrendering 1 Kanal and paying 20 Lakh extra cash.
How one can avail the swap option ?
i am interested for 5 merla resendital plot
INTERESTED FOR RES. PLOT
What’s the scoop in state life phase 1. Whether prices would go up? Should we invest in it?
Karachi is a business hub of Pakistan and its real estate sector is an investment haven. Though the sector was disturbed lately because of the poor law and order, but the situation has gotten better after Rangers-led operations started in the city by the sea. In Karachi, Defence Housing Authority, Clifton, Bahria Town Karachi, DHA City, Gulistan-e-Jauhar, Gulshan-e-Iqbal and many other areas are considerable for investment.
Thanks a lot for your reviews on this project.
What is your kind opinion about choosing the option of 4 marla commercial by surrendering 1 Kanal and paying 20 Lakh extra cash.
plz reply
thank you in advance
Thanks a lot for your reviews on this project.
What is your kind opinion about choosing the option of 4marla commercial by surrendering 1 K and paying 20L extra cash.
plEASE reply
thank you in advance
dear sir
what is your opinion about investment in state life phase 1 or 2. does it secure for even a long term. or plz suggest me where should i investment thnx
I am intersted in 10 merla plot in phase 2
Any one can tell me is this investment is risky