My friend has a house that is 75% complete and is located in Johar Town Behind Shaukat Khanum Hospital. the 5 Marla House has been in construction for quite a long time since my friend is a salried person with a few ventures here and there. But right now he said to me is it profitable if I could sell this house and biy a constructed house in suburbs and would that be profitbale??
so I am asking two question, is it good to move from this place and go to suburbs
and are constructed homes better or thet just are what people call sub quality material houses?
Construction cost would remain constant regardless of the location, the difference is in plot prices after adjusting sale/purchase cost.
Your friend can consider the following options that have good locations.
- Fizaia Housing
- Khayaban e Amin
- Al Kabir Phase II (possession) and Phase 3 / Kings Towm (on booking)
- Bahria Orchard
Compare prices on Zameen and then he should check options on ground.
He is actually more concerned about the quality of build homes. He has spent a fortune here and the only thing he is more concerned is the quality of the possession-ready homes, as we know the market. He is by the way interested in Al-Kabir Town.
I am not suggesting to buy pre-built houses. One should buy plot and build himself, that will allow him to control quality and cost, both.
Al-Kabir is taking off like anything. Everywhere else at Lahore prices are correcting except Al-Kabir where it is surging upwards. A 3 marla house, for example, has appreciated at least 20 lac in last 6 months. So he should move now or else it will be too late.
Phase 3, called Kings Town, is bit far away from Adda Plot, and close to Bahria Orchard. It is still available on installments. I think possession is in 3 years. So if your friends does not want to build house immediately, then that would be a good option.
Thank you for the advice.
I hope now the construction materials prices will stabilize.
with the recent rains and flood, I think the construction material is also going o be expensive
you can also look into Park view city which has reasonable prices of plots as compared to johar town. i belive if he sells his current house and but a land there, he shall be able to build in the same amount.
furthermore, moving to suburbs is also good because he will have to spend less on the plot and can spend more on construction if he plans to live there in the long term.