HIGHLIGHTS
ABOUT LAKE CITY LAHORE
Lake City Lahore is one of the most recent housing projects in the city, which is found along the Raiwind Road. The project is a gated community that offers a contemporary lifestyle to its residents, topped with serenity and various facilities. A house in Lake City is most likely going to be a profitable deal for buyers in the near future. The project is spread across 2400 acres of land, away from the hustle and bustle of main Lahore. This housing society has its own interchange on Lahore Ring Road that facilitates people in travelling to and from the central city.
The architecture and design of Lake City are inspired by the golf course setting, however, the project has set up an 18-hole golf club in the vicinity. In contrast to other housing schemes, situated near Main Raiwind Road, Lake City Lahore offers properties at affordable rates, along with a splendid lifestyle and robust infrastructure. The management of the housing scheme has also introduced Commercial Boulevard, within the gated community, which will further facilitate the residents. It is a very popular area as far as the real estate sector of the city is concerned and is also present in the list of top localities in Lahore for property investment.
AT A GLANCE
- World-class infrastructure and a luxurious lifestyle in a lush green environment
- 24/7 monitoring of exits and entrances, gated community, patrolling security guards
- Easy access to basic necessities i.e. electricity, gas and water
- Close proximity to Lahore Ring Road
- Recreation facilities in the vicinity
- Has its own active electricity power plant
NEIGHBOURHOOD
SOCIETY OVERVIEW
History of Development
In the year 2004, the management of Lake City Lahore appointed Meinhardt, an internationally recognized architectural contractor, to strategically plan and design the project. During the same year, the land was purchased for initiating Lake City housing scheme.
In 2005, Lake City was officially launched. By then its Phase 1 was completed, nearly 80%, covering around 8000 kanal. From the year 2006 to 2007, street lights, fountains, a mini-golf course, footpaths and the Main Boulevard were developed. Also, pharmacy, convenience store and fast food chain were completed during that time.
In the year 2009, the management of Lake City Lahore started giving possession of plots that are located in its different sectors. Furthermore, major infrastructural developments were underway in one of its sectors that included the setup of street lights, the sewerage, road and water supply systems.
Planning and Development
Lake City Lahore offers a number of commercial and residential properties. The project also features 1 and 2 kanal deluxe villas that are available for instant possession. The residential block of Lake City consists of eight sectors, namely M1 to M8, spread across 18000 kanal.
- Sector M1
Lake City Lahore’s Sector M1 offers 10, 12, 14 marla and 1, 2 kanal plots and houses for sale. Also, there are fully developed villas available in sector M1, constructed on 10, 12 and 14 marla and 1, 2 kanal.
- Sector M2 and M3
Its sector M2 consists of completely developed 10 marla and 1 kanal plots only and sector M3 consists of 10, 12, 14 and 1 kanal plots.
- Sector M4
Its Sector M4 is basically known as “the Golf Estate,” offering villas and plots of 1, 2, 4 and 8 kanal. The project’s golf course is situated in this particular sector, hence the name “the Golf Estate.” The subprojects in its vicinity are categorized as Golf Estate Villas, Golf Estates (Golf View/Backyard Golf) and Golf Estate 1 in the Golf Block.
- Sector M5 and M6
The Sectors M5 and M6 have houses and plots of 10 marla only. The residential plots in these sectors are fully developed and possession is expected within 2.5 years.
- Sector M7 and M8
Sectors M7 and M8 consist of plots, villas and houses for sale of areas ranging between 5 marla, 7, 10, 12, 15 marla and 1 kanal. The completely developed villas of sector M7 are constructed on 5, 7 10 and 15 marla. The properties in these sectors are comparatively affordable.
Possession of plots is available in sectors M1, M2 and M3. However, some owners have also received possession in sectors M4, M5, M6 and M7. Considering the high demand of Lake City’s properties, the management has further extended its largest sector i.e. M7. This sector is divided as M7-A, M7-B and M7-C. M7-C, which are subdivided as M7-C-1, M7-C-2 and M7-C-3. These extensions are not available for possession at the moment.
Prices of properties in the possession-ready sectors of Lake City Lahore have increased to a great extent.
Furthermore, Lake City Lahore has three dedicated commercial areas i.e. Business Bay District, Central Commercial District and Canal Commercial Boulevard. The commercial plots within these three zones are of 4, 5 and 8 marla, planned and developed for all sorts of businesses, hospitality services, financial institutions and retail services.
FACILITIES, SCHOOLS AND HEALTHCARE
Public Transport in Lake City Lahore
As Lake City Lahore is located at a prime location on Raiwind Road Lahore, there is no hassle of finding public transport in the vicinity. At an interval of 10 to 15 minutes, public buses pass by the project, facilitating workers and residents in their daily commute.
Markets in Lake City Lahore
As the commercial broadway of Lake City Lahore is under construction, residents can visit Fazaia Market for grocery shopping. The Fazaia Market is just an 8-minute drive away from here and is located in Block H of Fazaia Housing Society. Lake City residents can also go to Block D market of Valencia Town, which is approximately 17 minutes away, Main Market in Wapda Town and Gardenia Market in Bahria Town, which is a 21-minute drive from Lake City.
Mosques in Lake City Lahore
There are two mosques in Lake City Lahore. Jamia Masjid Razia, which is inspired by Mughal architecture. It is located in Sector M1 and more than 1000 people can pray here. This Jamia Mosque is the largest of all the mosques situated in nearby areas. Another mosque can be found in its Sector M7-A.
Other mosques in nearby projects are:
- Anwaare Madina Mosque and Fazaia Mosque in Fazaia Housing Society
- Masjid Aisha Mehboon on Raiwind Road
- Mosque in AWT Housing Scheme
All these mosques in the vicinity of Lake City Lahore can be easily reached within 7 to 8 minutes.
Schools, Colleges and Universities in Lake City Lahore
At present, there is only one school in Lake City Lahore i.e. a campus of Froebel’s International Schools. It provides quality education to over 500 students enrolled in different classes. The school also encourages student participation in extracurricular activities. Students here learn swimming, playing golf and tennis as well as horse riding. Other schools in the vicinity of the society include Bahria Town School, Beaconhouse School (Bahria Town Campus), Pak Turk School (Khayaban-e-Ameen), Allied School (Raiwind Road) and the list continues.
The colleges and universities in nearby areas of Lake City Lahore are Sharif Medical and Dental College, Azra Naheed Medical College, Beaconhouse National University, Lahore School of Architecture, COMSATS, etc.
Banks in Lake City Lahore
Two major banks are operating in Lake City Lahore. One is Faysal Bank in Sector M7 and the other is Allied Bank in Sector M1. However, residents can easily access Silk Bank in Valencia Town Lahore and Muslim Commercial Bank (MCB) in DHA Rahbar Phase 1.
Electricity Backup
The electricity power plant in Lake City Lahore was inaugurated in the year 2015. It is situated in sector M7. The residents of the society are provided electricity at usual rates. There is one major benefit that residents don’t have to worry about load-shedding. The society’s power plant provides uninterrupted electricity supply to its residents.
Clinics and Hospitals in Lake City Lahore
People who live in Lake City Lahore can visit medical facilities that are just a few minutes’ drive away. For instance, there’s Bahria International Hospital in Bahria Town, Mumtaz Bakhtawar Hospital on Raiwind Road and Citi Hospital on Defence Road, among others. However, within a drive of 7 minutes, residents can visit Taimoor Medical and Ultrasound Clinic in Chanar Courts.
PROPERTIES IN LAKE CITY LAHORE
Sale Price Trends in Lake City Lahore
Houses for Sale in Lake City Lahore
Lake City Lahore is divided into eight residential sectors from M1 to M8. Of these, sectors M1, M4 and M7 have pre-constructed beautiful villas on different area sizes. Sector M1 offers villas for sale in Lake City Lahore of 10, 12, 14 marla and 1, 2 kanal. Its Sector M4, the Golf Estate, has villas available on easy instalments of 12 marla, 14 marla, 1 kanal and 2 kanal. Sector M7 offers ready-made villas on area sizes 5, 7, 10 and 15 marla.
The sale price trend of houses and villas in Lake City Lahore is as under:
5 marla houses for sale have prices between PKR 8 lakh and PKR 1.5 crore. The range for 7 marla houses lies between PKR 57.5 lakh and PKR 1.75 crore. Prices of 10 marla houses fall between the range of PKR 36.5 lakh-PKR 2.15 crore. 12 marla houses have rates between PKR 1.6 crore and PKR 2.5 crore. The starting price of 1 kanal houses is 2.5 crore and the maximum is PKR 3.8 crore.
Plots for Sale in Lake City Lahore
Residential plots in Lake City Lahore are available for sale in its different sectors. Sector M1 offers plots on area sizes 1, 2 kanal and 10, 12, 14 marla. Sector M2 has 10 marla and M3 has 1 kanal plots only. However, Sector M3A, an extension of M3 has residential plots of area sizes 1 kanal and 12, 14 marla. In Sector M4, the Golf Estates offer 4, 8 marla and 1, 2 kanal plots that are located at the backyard of golf course. The Golf Estate 1 in the Golf Block has 1 and 2 kanal residential plots, whereas, the Golf Estate 2 offers only 1 kanal plots.
Sectors M5 and M6 of Lake City Lahore only offer plots of 10 marla and M7 offers plots of 5, 7, 10, 12, 15 marla and 1 kanal.
Potential buyers can buy these plots by making a certain down payment, as asked by the developers and pay the remaining amount in 10 quarterly instalments. Possession is given to the owner within a span of 2.5 years. If buyers choose to pay a lump sum amount, they avail a 10% discount on the total price of the plot.
Residential plots are available on easy instalments. The sale price of 5 marla plots in Lake City Lahore varies between PKR 5.9 lakh and PKR 85 lakh. The asking price of 7 marla plots lies in the range of PKR 39 lakh-PKR 1.5 crore. 10 marla plots in Lake City Lahore are available for sale between PKR 9.7 lakh and PKR 1.05 Crore. The prices of 12 marla plots range from PKR 80 lakh to PKR 1.44 crore. The asking price of 15 marla plots is approximately PKR 1.3 crore. 1 kanal plots for sale are priced between PKR 1.4 lakh and PKR 2.75 crore and 2 kanal between PKR 75 lakh and PKR 6 crore.
Rent Price Trends in Lake City Lahore
Houses for Rent in Lake City Lahore
The houses for rent in Lake City Lahore are available in single, double and triple storey(s). The total number of rooms is different in every unit and this factor also affects the rental rate. Factors like location (if it’s corner or park facing or not), international standard fittings and type of furnishing used in construction are also important factors. There are pre-built villas, as well as the ones designed by owners, available for rent within the project.
The lowest rent for a 5 marla house in Lake City Lahore is PKR 25,000, whereas, a brand new luxurious house is rented for PKR 50,000. The lowest rental price of 10 marla houses in this project is PKR 35,000 and the highest rental rate is around PKR 55,000. A 1 kanal house is rented for approximately PKR 90,000 in Lake City.
Commercial Properties
The commercial area in Lake City Lahore is largely under development. The society has reserved separate lands for commercial properties, which have been named Business Bay District, Central Commercial District and Canal Commercial Boulevard. The Business Bay District has commercial plots for sale of area sizes 4, 5 and 8 marla. The Central Commercial District has 5 marla plots only in which some are facing the main boulevard and some are located at its back lane. Plot prices are different depending on the location. Canal Commercial Boulevard has only 8 marla plots, among which some are canal facing and some are on the back lane. The location of plots significantly influences the prices in the Boulevard.
Most Popular Sectors in Lake City Lahore
Sector M7 is the most popular sector of Lake City Lahore, according to Zameen's data on buying properties. Other than plots, this sector offers pre-constructed villas that are designed by professional architects. The rates of properties in Sector M-7 are significantly low, as compared to other sectors. Also, it is the largest sector and has been further extended to seven sub-sectors.
In addition, Zameen's stats of January 2019 reveals that Sector M7 tops the list for renting properties in Lake City Lahore. The minimum rent of a 5 marla house starts from PKR 25,000 in this particular sector. The rental rates are pretty reasonable. Other factors influencing the popularity of Sector M7 could be the community park, bank, mosque and power plant. All these amenities are also found in this sector.
LIFESTYLE
SHOPPING, RESTAURANTS AND BAKERIES
Malls in Lake City Lahore
There is one mall in Lake City Lahore, the Lake City Mall, which is spread across 40 kanal. The mall has a huge car parking space that accommodates 350 vehicles. The mall is located in Sector M1 and is within reach from all road arteries across the community and also from Lahore Ring Road and Raiwind Road. The mall offers a great shopping experience and, in addition, offers other entertainment facilities. For instance, a 3D multiplex cinema, cafes, restaurants, food court, playland and hypermarket.
As Lake City Mall is still under construction, as of January 2019, residents visit other malls, located in the neighbouring projects. Safari Mall in Bahria Town, Emporium Mall in Johar Town and various others.
Restaurants and Bakeries in Lake City Lahore
Lake City Lahore is home to a number of restaurants, cafes and bakeries. For now, residents can enjoy food in an open-air café, “Forest Cafe,” which offers a serene ambience to its customers. Other good options in the vicinity are The Pink Lounge Family Restaurant on Raiwind Road, Ghosia Restaurant on Riphah International University Road, etc. Furthermore, residents may dine out at eateries located within Bahria Town Lahore.
For the love of delicious desserts and bakery items, residents can visit Cakes & Bakes, Gourmet Bakers & Sweets and Waffle on Bakery that is found at a drive of approximately 15-17 minutes from Lake City Lahore in Valencia Town.
OUTDOOR ACTIVITIES, FITNESS AND BEAUTY
There are many options for recreation and leisure activities in Lake City Lahore.
Cinema in Lake City Lahore
Residents can enjoy their favourite movies with their friends and family at Cinepax Cinema. It is an ideal place for movie lovers living in the vicinity of society.
Sports Facilities and Fitness Centres in Lake City Lahore
The community of Lake City Lahore has access to a gym that has qualified trainers that assist people in their fitness goals by providing them with the right instructions and boosting their levels of motivation.
Parks and Clubs in Lake City Lahore
There are community parks in the Sectors M2 and M7, known as Lake City Community Parks. These wide spaces have proper jogging tracks along with basketball, football and tennis courts. The management has also placed swings for children.
One of the most enjoyable activities for residents within Lake City Lahore is the Sky Zone Trampoline Park that offers Ultimate Dodgeball and trampoline dunking. There are spaces for non-jumpers as well so that they can sit there and enjoy the games.
The Lake City Golf Course and Country Club is a PGA-standard, 18-hole golf course, open for expert and beginner-level golf enthusiasts. At the facility, people are given coaching and training and time to hone their skills. There is also a gym within the facility. Apart from golf, families can enjoy their time at the club during lunch or dinner time, as the club has an exotic menu. Membership is also provided to the interested residents. Its members not only have access to the golf course but can also access driving range, gym, lockers, shoe cleaning, dining lounges and club storage facilities.
There is a Lake City Golf Academy as well, where professional instructors coach new and expert golf players and guide them through basic to advanced techniques.
Salons and Spas in Lake City Lahore
At present, residents of Lake City Lahore avail salon and spa services in the nearby areas. For instance, they visit Glitz & Glam Beauty Salon and Depilex Beauty Clinic, located at a drive of 15-20 minutes, in Wapda Town and Valencia Town, respectively. Also, residents visit salons and spas in Bahria Town, which can be reached within 20 minutes.
NEARBY AREAS
Residents of Lake City Lahore have easy access to a whole host of entertainment options in nearby areas. They can enjoy family time, especially with their kids at Safari Park, Fun Dunya Theme Park and Safari Park Lake, found on Wildlife Park Road at a 15 minute-drive via Raiwind Road. During summers, residents can visit Moon Water Park on Ferozpur Road, which can be reached in 25 minutes. Furthermore, avid gamers can opt for Dune Gaming Zone or Café Connect Gaming Lounge that are approximately 20 minutes away from Lake City Lahore. At a drive of 15 minutes, residents can access the beautiful Bahria Orchard Family Park; within 10 minutes, they can reach Mini Zoo in Khayaban-e-Ameen and Eiffel Tower Replica in Bahria Town, within 23 minutes.
THINGS TO CONSIDER
While Lake City Lahore is primarily a housing scheme, it is important to note here that it’s not as popular among homebuyers as it is among investors. Since the project is too far from the main city, where all the offices are usually situated, residents have to cover long distances during their daily commute. This was a major reason why investment in Lake City slowed down, considerably, for some time. However, the construction of Lahore Ring Road has significantly increased the worth of properties here. This road now links Lake City to other areas in the city. Property experts suggest buying properties in sectors where possessions have already been given.
Comments are closed.