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According to my experiences DHA Phase 7 is best option for investment. It'll give you lot of in future within 5 years. But do make sure to choose a plot in the best location. If you have more question ask me freely.
I personally like sukh chayn better than dha. Even though main defence phases 1 to 5 are much more expensive, projects like sukh chayn and bahria town have more potential. The future is this side of lahore. You can also consider valencia and pcsir phase 2. But if you are really keen on dha you can consider a block of eme where you can get 1 kanal for around 1 crore depending on location.
I have also a budget of around 5million pkr and i recently visited pakistan and searched few options. I have found so far dha phase 8 (proper) to be a most appropriate option in terms of medium term investment (3 to 4 years) due to its most suitable location. Phase 7 possession will be a matter of few weeks (may be)... After min 2 to max 3 years phase 8 will be heading towards its possession and no other area in lahore can rise at an equal pace. 10 marla in phase 8 (x and y block) range b/w 40 to 50 lacs. And opposite to it phase-6 10 marlas range b/w 65 to 85lacs. So one can imagine its promising future potential...
Yeah... If you look at phase -8 map, its y-block (opposite to ring road) sits exactly at the tail of phase-5(the most expensive phase of dha currently)... So i guess you can try to search a good plot in phase-8 y block.