The Southern Loop of Lahore Ring Road and its impact on Lake City

The missing patch of Lahore Ring Road (LRR) in the south of the city is believed to be one of the biggest causes of a relatively slow rise in the value of properties in many high-end housing projects located in its vicinity. In case of some of these housing projects, especially Lake City, the investors have been holding their properties for more than a decade to see the price rise they were promised many, many years ago.

Per Zameen.com’s stats, the average value of property in Lake City, despite its grand stature of being an exclusive golf course community, is 60% lower compared with the housing societies located along the finished northern loop of LRR. The start of construction work on Lahore Ring Road’s southern loop will likely have a direct impact on Lake City.

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With the Planning & Development Department looking to build the remaining part of LRR in the next two years, investors are getting particularly keen to purchase land in Lake City, Bahria Town, Fazaia, NFC Phase II, AWT Phase II, Sui Gas Phase II, DHA Rahbar, Valencia Town and Khayaban-e-Amin. For those interested in Lake City, Zameen.com has taken the expert advice of Moazzam Estate CEO Mr Moazzam Nawaz on the matter.

Mr Nawaz tells us that Lake City is one of the cheapest housing projects in this neighbourhood, but that might not be the case for long. News regarding the construction of Lahore Ring Road’s southern loop has spread like wildfire and Lake City will directly benefit from this project. Although he sees a consistent rise in the demand for property in Lake City, he says it is not just the southern loop that has made investors more interested.

“The recently announced Alternate Route to Raiwind near Lake City on the already expanding Raiwind Road is inviting more investors,” says Mr Nawaz. “The announcement of Lahore Ring Road has also increased the investors’ interest in this project,” he adds.

According to Mr Nawaz, Lahore Ring Road’s planned and approved interchange on Raiwind Road is also very close to the Alternate Route, making it an entire package of some very important developments waiting to surprise Lake City investors.

He says the Lahore Ring Road Authority (LRRA) is set to start construction work on the missing loop in June this year, while the expansion of Raiwind Road is already in process. Interestingly, however, the market hasn’t reacted instantly to the news, most probably because most of the investors there have waited too long to now make a sudden and miscalculated move, which is why a controlled yet consistent rise has been seen in the demand and value of Lake City property.

Mr Nawaz, however, believes that the next couple of months are very important for Lake City since the start of construction work on LRR – whose survey team has already marked the area – will bring along a price rise of at least 25%, making now the perfect time to purchase land there.

“The average sale price of property in Lake City is almost half of the current property rates in neighbouring housing projects such as Valencia Town and DHA Rahbar. So I believe that the property rates in Lake City have a margin to increase by 100%,” he concludes.