Southern Loop of Lahore Ring Road and its impact on NFC Phase II

The construction of the southern loop of Lahore Ring Road (LRR) will directly or indirectly effect all housing projects in this part of the city. Included in these housing projects that are anticipating higher demand and increased value of their respective properties is NFC Phase II. The project, if considered location-wise, is perhaps one of the most important real estate developments on Canal Bank Road, which runs parallel to Multan Road past Thokar Niaz Baig for the most part, since it is almost adjacent to Bahria Town.

Zameen.com is aware of the fact that a lot of people, both in Pakistan and overseas, have invested in NFC housing projects, especially in NFC Phase II, and they are eager to find out if and when the land they have purchased will gain in value. To help them get the necessary details, Zameen.com discussed the matter with Ittehad Properties CEO Mr Waseem Shahzad, who keeps a close eye on the property market of major housing projects located in the south of Lahore.

“Property rates in NFC Phase II are right now the cheapest among the housing societies located in its neighbourhood, making it a tempting investment deal for some investors,” said Mr Shehzad. Shedding some light on rates in the locality, Mr Shahzad said, “The slow development status and absence of necessary infrastructure has kept the rates in NFC Phase II from experiencing a decent price gain in the past.”

When we asked him about the effects of the completion of LRR’s southern loop on this project, he said the absence of solid on-ground development will hinder NFC Phase II from benefiting fully from the development of LRR. “A third party’s influence is keeping the NFC management from developing the project and therefore the southern loop of LRR will not have as much of an effect on NFC Phase II as it would on housing projects that are more developed,” he added.

“From where I see it, infrastructure development in NFC Phase II might not start for another year or so,” he said, adding that any investment in NFC Phase II would be long-term and its future would depend very much on the completion of LRR’s missing loop as well as on how quickly a prominent sector of a neighbouring housing project achieves its planned status in the real estate market of Lahore.

No project can remain stagnant forever, I guess, and a long-term project is mostly the one that ends up offering you better gains at the end minus currency depreciation and accounting for inflation. Nonetheless, if you own property in NFC Phase II or are considering investing there, Mr Shehzad suggests you must be willing to wait for a period of 5 years.

You can use the comments section below to share your concerns and thoughts on the matters discussed above.