Hi,
I am thinking about buying plot in lda city. What are the prospects of lda city, should i buy there or somewhere else in lahore? Thanks
Dear
I'm not expert and have little knowledge of Real estate. Let me explain few points:
GOOD in LDA City:
Land purchase being done on DHA style. So in future, no worries about litigation, qabza, double allotment etc.
Location is very good keeping in view Packages Mall, Lahore Metro and LRR projects
DHA Phase-9 & 10 will bring development boom in this area, but may be after a decade.
Dirt cheap price as compare to other housing schemes in the vicinity.
BAD in LDA City:
- LDA will not be buying or developing the LDA City itself. They joined hands with 4 or 5 big players in market to do this - - - and what that means is very alarming for end user. How?
1) One of the developing partner has his own two HS's just after proposed LDA City location on the same road. One HS is under development (even after 10 years) and other is standstill even after 4~5 years time. Will they develop Govt HS before their own and cut their own feet to divert investments from their personal HS's to Govt HS - its a big big question mark. Also remember that one other partner is a company of sitting federal minister of PML-N.
2) Supposedly, each partner will get a block to develop. What if one do good job but other 3 don't show up interest? Result is never completing development for possession or handover plot to customers (each block developed independently will not make HS to look developed)
3) If any partner aparts from agreement and game goes to courts, it will be never ending game then. We have seen even individuals have dragged the LDA in courts and LDA couldn't get rid of those cases. Here it will be a player bigger than LDA standing against LDA. Remember BT Sector E, F, GV etc declared illegal by LDA but they being sold still on market with quite high prices. So where is LDA now?
4) Land of proposed LDA City is still not in possession of either LDA or its partners. However buying process is going on and investors couldn't wait for the process to complete, do town planning and then launch the project. But they jumped right at early stage to float files and get their money back.
LDA Track record in HS development is not really even satisfactory, leave apart the good. It takes long long long time in LDA to work things to reasonable level. Although Mr Ahad Cheema has done some improvement in controlling the inner mafias but still a long way to go to be at par with current private builders level.
Development standard of LDA HS is always bad and will remain so. Reason is simple - they build for general public, not for elites. So less income means low standards of development.
Mr Cheema is blue eyed boy of Mr CM of Pb. With 2018 election in mind, this HS need to be completed by end of 2017 or otherwise new Govt (if other than PMLN) may malign / spoil it in the name of opposition project (Hopefully this will not happen, my wish)
Hope it helps to decide you for investment / buying decision in LDA City. Regards
The advantage of LDA city is that it is available in instalments so if you don’t have much money then it may be suitable however LDA does not have a good record of completing development and handing over plots soon, so it may be a long time for the scheme is developed and handed over.
This means only DHA and Bahria are safe options to invest in Lahore.
Agreed with Javaid Abid.
I think lda city is really good at this point of time specially for investment