Lahore Motorway City (LMC) is an acclaimed housing society located on the Lahore Motorway. Approved by Tehsil Municipal Administration, the project has managed to retain investor interest even in these times of a rather slow property market.
Established on 20,000 kanals of land, the project has five blocks: P, Q, R, S, T, and U. These sections have been further divided into the categories of ‘S Block Homes’, ‘S Block Homes Extension’, ‘T-Prime’, and ‘Trust Prime’.
A large section of the housing scheme is fully developed (with possession available), but there are certain blocks and commercial areas that still await completion. Here’s what you need to know about them:
Pending developments, possession and balloting
According to Raja Adnan of Unique Estate & Developers, of the scheme’s residential areas, only the Blocks U and S remain to be fully developed. At the moment, Block U is all files; nothing concrete. Block S Homes Extension is undergoing construction.
According to Raja, you can construct your home in Block S Homes Extension if you want to, but since not all facilities are available at the moment, living won’t be much feasible. Roads are being carpeted, while sewerage lines have been laid.
Among commercial plots, the T-Commercial area has been much awaited. Balloting has yet to take place for these plots, and has been eagerly anticipated for the last two years. According to Raja, there is no confirmation date regarding the initiation of this process. However, as per unconfirmed reports from the society’s administration itself, we can expect a development within the next six to eight months.
Market and price trends
Plot prices continue to remain stable, in a trajectory similar to the previous year. However, according to Raja, the market of LMC itself is pretty active, though by no means burgeoning. None of this is unexpected, considering the slow pace of the real estate market in Lahore (and Pakistan, in general).
The prices currently stand as follows:
|Plot Size||Prices in PKR|
The asking premium on a 2-marla plot in T-commercial is low, and can even go down to zero. But on the higher-end of the spectrum, it has even peaked at PKR 50,000.
The 5-marla plot, in contrast, comes at an asking premium of between PKR 400,000 and PKR 500,000.
Whether to hold or sell?
According to Raja, if you have already invested in T-Commercial plots, you have two options. If you can hold investment, you may want to hold it for another six to eight months; until the balloting is announced. However, since it is not confirmed yet, you would be advised to wait much longer than that.
The other option for you is to sell these plots, and invest the returns into possession plots within LMC itself. This will not be a bad bargain, since the prices for these plots are quite low at the moment. In this way, you can also expect a good margin of returns in the medium-run.
Are you looking to buy a plot in Lahore Motorway City? Do you have any concerns or questions regarding your decision? You can discuss them with us in the comments section below. Alternatively, you can head to the Zameen Forum to engage in an extensive discussion on the topic.
Some information in this blog has been sourced from Raja Adnan of Unique Estate & Developers. You can contact him at +92-309-4101078 for a detailed consultation.