Zameen.com has noticed a gradual and constant rise in property demand of Bahria Town projects in Lahore, especially Bahria Orchard. It is no longer unusual to notice property demand in Bahria projects in a city going up, while the same activity drops in projects in another. Genuine buyers and investors also benefit from this activity and find themselves in the perfect circumstances to buy or sell land with such shifting activity.
To have a look at what’s actually happening in the market, we consulted Athar Associates CEO Mian Usman who deals extensively in Bahria Town Lahore and specialises in Bahria Orchard. According to Mr Usman, a constant rise in value of Bahria Orchard property had been noticed in the last four months. We have also learnt from Mr Usman that Bahria Town Lahore was buying more land around the existing blocks of Bahria Orchard Phase 1 and 2, and Bahria had also merged some of Green Valley’s land with Bahria Orchard.
It should be noted that Bahria Orchard Phase 2 was launched about 5 years ago and Bahria is still acquiring land for the project while no confirmed statement has been issued by the developer about when they plan to handover possession. Certain rumours are circulating in the market about the expected possession of Orchard Phase 2, leading to an increased demand for these plots.
Moreover, the development of Raiwind Road and Lahore Ring Road will also benefit Bahria Orchard. If the developer wants to cash in on these infrastructural developments, the timing of possession handover and related development ideally has to coincide with their completion. The ongoing acquisition of land around Bahria Orchard suggest that Bahria is shifting focus to this part of the city and investing there could be a promising move to make.
Bahria Orchard Phase 2 features residential plots in 5- and 8-marla sizes. Per Zameen.com’s stats recorded so far in August 2015, the average sale price of 5-marla residential plot in Orchard 2 is PKR 2,600,000, which has increased from PKR 1,750,000 since January 2015. The average sale price of 8 marla plot is PKR 3,100,000. In Phase 2, the low-cost Sector C is currently attracting a majority of investors.
The demand for plots in Bahria Orchard Phase 1 also persists and property rates in this phase are also inching up. Per Zameen.com’s latest stats, the average rate of 10-marla residential plot in Phase 1 is PKR 4,500,000. For 5 marla plots, the average sale price is PKR 3,000,000.
Experts believe Bahria Orchard is a good option for a short-term investment. The present activity seen in the market is expected to last for another couple of months and will pick once the Raiwind Road and Lahore Ring Road near completion. If you wish to buy a plot in Bahria Orchard, I would recommend you to pick the ones with good location. You can also let Mr Usman help you choose the right plot.
For further guidance and consultation, Mian Usman can be reached at +92-323-400-4338.