The provincial capital of Punjab, Lahore, is the second largest city of Pakistan with regards to its population. Being centrally located in the Punjab region, it is widely regarded as ‘The Heart of Pakistan.’ Lahore is also considered the cultural capital of the country due to its rich history. However, massive urbanization has completely transformed it, from a traditional agrarian society, into a modern metropolis.
Investing in Lahore is a lucrative option because of the city’s cultural and strategic importance. Paragon City is one of the many examples in the real estate market of Lahore that has succeeded in winning the trust of buyers and investors. This mega project is ideally situated on Barki Road, adjacent to DHA Phase 8, barely a four-minute drive away from the Allama Iqbal International Airport.
Spanning thousands of acres, Paragon City is a huge project, offering numerous west open, east open, park facing, road facing, and corner plots in various sizes, ranging from 4 marla up to 2 kanal. However, Zameen’s most searched trends show 5 marla and 10 marla plots are the most sought-after categories among buyers. As per the sale price trend, from July 2014 through December 2018, it has been observed that rates of 5 marla plots have increased by 84%, resulting in a profit of at least PKR 24 lakh in a period of roughly four years. Similarly, over the same time period, historical data shows a steep rise, about 81%, in the price of 10 marla plots, equivalent to a profit of around PKR 42 lakh.
As there are several types of plots available in the community, you will find a great variation in the sale prices too. The asking price of a 5 marla plot in Paragon City starts at PKR 35 lakh, going up to PKR 69 lakh while 10 marla plots cost between PKR 50 lakh and PKR 1.5 crore. Likewise, a buying 1 kanal plot can cost you around PKR 1.03 crore to PKR 2.1 crore. Plots can be booked by paying 10% as down payment and 20% as token money for confirmation of the transaction. 20% of the amount will be paid at the time of possession, while the remaining 50% is to be paid in quarterly instalments.
The project has focused on providing the best educational and health facilities to its residents. To this end, Paragon City has included the campuses of some of the best schools of Lahore in its society plan, such as Lahore Grammar School, Allied School, The National School etc. For medical assistance, residents can visit Al Hadi Medical Centre and Mother Care Hospital. Hashmi Poly Clinic and Abdullah Poly Clinic are also situated on Barki Road.
Paragon City is a well-developed gated community that offers exclusivity and a luxurious lifestyle to its residents. The project has paved a 100 ft main road to facilitate commuters. It provides gas and water connections, a well-maintained sewerage system along with an underground power system for the ease and comfort of the residents. It offers spacious and modern commercial spaces to fulfil all your daily requirements. There is a golf club, a cinema and several parks in the area as well. An elaborate security system is also in place to ensure the security of residents.
The project has developed a commercial area within its premises so the residents can enjoy shopping, without the hassle of travelling to other parts of the city. One of the most famous spots in this regard is the Imperial Cineplex Mall. It is lined with numerous local and international stores of shoes, handbags, clothing, everyday essentials and also includes a play area for children and a food court. Dining out is not a problem in Paragon City as many restaurants such as Aroma Grill, Johny’s Grill, Zakir Tikka etc. are situated in the premises of the area serving scrumptious dishes.
From budget-friendly rates to world-class facilities, Paragon City Lahore has it all. The real estate of Paragon City is thriving due to its ideal location and great potential of returns on investment. The property rates and feasible payment plans are also some important factors that contribute to the project’s increasing popularity.
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