LDA City is one of the most happening projects in Lahore. An LDA project, a number of authorities have been involved in its activities over the past year. Rapid development has been taking place in the situation and investors of the housing scheme have been looking for updates on the situation. So here’s the latest from the housing project:
An update on land acquisition, balloting, and map
According to Raja Mudassar of Lahore Askari Real Estate, an unofficial map has been doing the rounds on social media websites, but it has not been issued by the authority and is in no way approved. It is simply a rough approximation of how the situation stands in LDA City currently, so it may be used for getting an idea of that, but should not be taken as something final and confirmed.
The actual map is expected to be launched in a few months, likely in December. Balloting will be conducted around the same time as well. Possession will follow, but nothing confirmed can be said on that except that Sectors 4 and 5 will be the first ones to be granted possession. Development which had stopped earlier is progressing slowly now, according to Mudassar.
Market situation and prices
The market, which had slowed, and the prices which had decreased in the run-up to election, Eid, and then Muharram have since been rising according to Mudassar. He explained that the prices for 5-marla before Muharram were as low as PKR 1.08 million, but have now gone up to PKR 1.32 million again in the months since, and the situation is simply going to improve in the future. Currently, the prices stand as follows:
|Plot size||Average Prices (in PKR)|
Investment possibilities in LDA City
According to Mudassar, he is recommending his clients to hold their investments in LDA City at the moment. He explained that in January, earlier this year, it was announced that balloting is going to be held in March. At the time, the prices for files had risen to as much as PKR 1.8 million. Those were just files, so this is a positive indicator for the future.
Moreover, the prices of plots in the neighbourhood are considerably higher, and the prices in LDA City Sector 4 and Sector 5 are going to rise to the same levels after balloting. Considerable appreciation of prices will also be seen following the announcement of the map, which Mudassar expected to happen latest by January. This makes LDA City a good opportunity to consider for short-term investment as well.
The best option is to buy exemption plots, since the exemption plots are going to be balloted when the balloting takes place. These are files for which land has already been acquired. It would also be pertinent to note that the first balloting will take place for 5-marla plots in Sector 5, according to Mudassar, so it would be a good option to consider these for investment in particular.
Are you looking to invest in LDA City? Do you have any questions about it? You can talk to us in the comments section. You can also head to the Zameen Forum for a detailed conversation.