Time for an LDA City update

LDA City, spanning over 60,000 kanals and located on main Ferozepur Road, is the largest housing project of the Lahore Development Authority (LDA). It aims to cater to the housing needs of the lower income strata because property prices in the locality are relatively lower compared to those of other residential communities nearby.

The good news is that LDA City will have a diplomatic enclave, with consulates, resident missions and the representative offices of various countries nestled inside. This is a rather unique feature for residents and investors alike, one which can serve as an impetus for property prices to rise in the area.

Eleven percent of LDA City’s total area is dedicated to parks and greenbelts. This will not only enhance its natural, aesthetic appeal, but also provide pleasant recreational areas for the residents.

However, while all these plans seem rather articulate, the community has not been developed as yet.

What is happening there right now?

Real estate activity is a bit slow these days. The main boulevard of the society is currently being constructed, while necessary features, such as the front gate, have yet to be installed.

The society consists of 5-marla, 10-marla, 1-kanal, and 2-kanal plots. According to Mr Danish Raza of Estate Lines Builders, a 5-marla plot file in LDA City currently values at PKR 1,000,000, a 10-marla plot file at PKR 1,700,000, a 1-kanal plot file at PKR 28,500,000, and a 2-kanal plot file at PKR 6,400,000. There are only a handful of 2-kanal plots available in the society.

Mr.Raza also said that Lahore Ring Road is of vital importance and will add immense value to the project. It will link the residential society to key areas of the city, allowing people an immediate and convenient route to easily commute to other places. Moreover, the society is located near the Gajju Mattah station of Metro Bus, which is an additional source of transport for those who wish to avail it.

Prices are bound to escalate in LDA City, Mr Raza further added. However, there is still plenty of time until the society is fully developed and possession is handed over.

And yet, as they say, time often flies by with the blink of an eye. Therefore, it’s definitely not too early to make an investment in LDA city. Yet, it may not be the best bet for those looking for fast, short-term gains, as it may take some time to get satisfactory returns.