LDA City Lahore, the latest residential project of Lahore Development Authority (LDA), has created a lot of frenzy among buyers and investors. The project was announced at mass level on May 19, 2014 through print media, while on Zameen.com LDA City was added in the New Projects section a couple of months ago.
It is generally believed that among existing developers active in Lahore’s property market, LDA is a much reliable one and despite the prevailing discrepancies in one of its projects, LDA Avenue 1 to be precise, the investors find very limited reasons for not investing in LDA City. As per the details, LDA City comprises of 45,000 Kanals of land and is so far the largest residential development of Pakistan.
LDA City features 5-Marla, 10 Marla, 1 Kanal and 2 Kanal plots. The project claims to offer plots on rates, which are equal to the amount one has to pay as down payment to buy plots in other known projects. As per property listing available on Zameen.com, the present market rate (as of May 20, 2014) of 5-Marla plots in LDA City is PKR 1,090,000, that of 10 Marla, 1-Kanal and 2-Kanal is PKR 1,590,000, PKR 2,790,000 and PKR 5,500,000 respectively. These rates include 50% of the development charges.
The location of LDA City is not disclosed through its print advertisement but the ad does speak that the project is 13 minutes drive away from Kalma Chowk and smooth 15 minutes drive away from Allama Iqbal International Airport Lahore via Lahore Ring Road. The accessible location and LDA’s backing is highly likely to create roaring demand of these plots and consequently push their market rates further up.
The development claims to be a town planned according to international standards with latest civic facilities including bus stations, railway stations, post office, shuttle services for Metro Bus and 24 hours security system. LDA City will have its own expo centre, an education city, health city and sports city with world-class facilities and latest amenities. The project will also feature an American style 18 holes golf course and various shopping malls, commercial boulevards and hotels.
If you wish to book your plots in LDA City, Lahore, please note that the tempting rates of these plots are offered for a limited time.
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HI Samra,
This LDA city is just a rumor or a real thing. I mean is there development on the ground ?
Regards,
Shahid
The developers are acquiring land along Soa Asil Canal near Kahina Nu. According to the detail i have received, development work will start in LDA City by the end of this year however various people from the field believe that it would be a long term investment and might take about 10 years to offer returns to the investors.
The pending issues of LDA’s other projects is also slight bit of a reason why investors might get a little confused about the project. Nonetheless, the housing projects that have been delivered so far by LDA is the big big factor why LDA City is receiving such response from people. I would recommend you to do further research in this regard.
Take care Shahid sahb.
Dear Shahid,
The LDA City is not a real Project. They Just Present it Media. There is nothing except blank land. This Ads if for get investor to invest money in LDA City Land. it will take 4 to 5 years .
Shahbaz Ahmed Bhatti
As Sr Samra,
How soon can I purchase in this area and do you have any contacts to set these up in instalments.
I realise the new project and blank land would mean very long term investment to recieve returns , possibly 10 to 15 years. As long as their is planning permission to build and the location is as it indicates then this can only be positive development . The details are still too vague and sketchy.Await more info.
Ws slm
Nawaz Ditta Ahmed
Dear Nawaz,
From what i have heard, you have to make the payment in lump-sum. You can make the purchase today since the process is on.
If you wish to have a look at the details issued to the public through print ads, please visit this page: http://www.nawaiwaqt.com.pk/E-Paper/lahore/2014-05-19/page-12.
Calling one of the development partners to seek more information would the best way to go about it.
Well, it seems to be a great project by LDA. I have gone through the news before and I am glad that such step is taken by the LDA. This shows the improvement in the property development in Pakistan. Such steps would give rise to the real estate industry and investors prefer to invest in property in Pakistan. Thanks for sharing!