‘Lahore Ring Road (LRR) will not cut through Bahria Town’ – this candid statement will most likely set the rumour mill abuzz. Many of us, especially Bahria Town investors, certainly want this to happen. Yet it’s important to realise that this is nothing but a rumour and only the government’s version can make things clear.
The dilemma that is LRR’s southern loop has become a bone of contention between Bahria Town, investors and the government. However, according to the rumours flying about in the market, the government will officially announce the development of the LRR on Hudiara Drain in the near future, which means LRR will not disturb Bahria Town and its investors will finally be able to heave a sigh of relief.
But wait a minute … this isn’t official yet, so we will have to adopt a wait-and-see policy until the announcement is made by the government. Until then, you need to keep your fingers crossed.
If the government uses Hudiara Drain’s area, not Bahria Town, for LRR’s completion, the latter will enjoy better access from Shahkam Chowk. And if it passes through Bahria Town, it will split Bahria Town and rip apart investor sentiment.
Deputy-commissioner (DC) rate in Bahria Town
Have you ever wondered why property rates in Bahria Town are increasing with the passage of time despite all the controversies the project has been facing over the last few months? Let me tell you something interesting: the DC rate of properties in Bahria Town has increased from PKR 200,000 to PKR 350,000, which has consequently increased property prices in the locality.
This means that if the government takes the LRR through Bahria Town, it will have to shoulder an additional onus of expenses to compensate landowners. And we all know that the government already has a limited budget for the execution of the project.
Another big thing
‘Bahria Town is buying land falling in the LRR’s route’ – this is definitely a rumour, as Bahria Town has not announced the said acquisition officially.
Needless to say, Iqbal Block and Tulip Extension will most likely be affected if LRR passes through the locality. Another rumour is that Bahria Town will launch a new cutting of plots in Tulip Extension sooner rather than later. So what does this mean? I think you are cognizant enough to answer this yourself.
Worst case scenario
What will happen if LRR passes through Bahria Town? Will it play havoc with the society? The answer is a blunt ‘yes’, but the issues will only last until Bahria Town has compensated victims (if any). Otherwise, prices will certainly increase with LRR’s development.
Suggestion: Investors should remain alert, take informed investment decisions and stay tuned for further updates.
You all know we have a comments section below for further discussions, so please feel free to have a conversation with me there.
Disclaimer: The information given in this post was provided to us by Mr Waseem Khan of Unique Associates & Builders.