Located at a distance of around 3 kilometres from Thokar Niaz Baig in Lahore, Park View Villas is a gated and walled residential project that features plots in various sizes. Mr Abdul Aleem Khan, the head of Vision Group and a prominent member of Pakistan Tehreek-e-Insaf (PTI), is the man behind the project.
Behind Park View Villas, however, lies the land for the Defence Housing Authority’s DHA City project, and rumour has it that the ace developer might just buy out Park View Villas to provide DHA City a clear entrance route along with some extra acreage.
“DHA is most likely going to acquire Park View Villas and merge it with DHA City,” Mr Yasir Aziz of Quaid Associates told Zameen.com. “DHA City currently has access from the Motorway and if DHA Lahore took over Park View Villas, DHA City would get a better entrance directly from main Multan Road,” he added.
If this did indeed ended up happening, it would not be an unusual move because the DHA had also acquired Park View Housing Society (spanning 7,000 kanals opposite Allama Iqbal International Airport) in April 2007, which is now part of DHA Phase VIII.
However, I must stress that this is still complete conjecture and absolutely unconfirmed, because neither DHA Lahore nor Vision Group have made any official announcements even remotely hinting at this possible development, so please take it with a grain of salt.
On a separate note, we have also learnt that the development of Lahore Ring Road (LRR)’s southern loop is unlikely to affect Park View Villas, so the stakeholders of the society should not be worried as their properties are unlikely to be taken over by the government.
According to Mr Aziz, the average market price of 10-marla plots in the locality currently varies from block to block. The sale price of 10-marla plots in Rose Block is around Rs 4,500,000, while in Tulip Block the price ranges between Rs 3,500,000 and Rs 3,600,000.
The payment plan below will clarify further the booking price of the different categories of plots in Park View Villas:
|Category||Sale Price||Membership Fee||Total Price||Down Payment (25%)||Balance||8 Quarterly Instalments|
|5 Marlas||Rs 1,850,000||Rs 16,000||Rs 1,866,000||Rs 466,500||Rs 1,399,500||Rs 174,938|
|10 Marlas||Rs 2,950,000||Rs 26,000||Rs 2,976,000||Rs 744,000||Rs 2,232,000||Rs 279,000|
|1 Kanal||Rs 8,000,000||Rs 51,000||Rs 8,051,000||Rs 2,012,750||Rs 6,038,250||Rs 754,781|
|4 Marlas (Commercial Plots)||Rs 8,000,000||Rs 41,000||Rs 8,041,000||Rs 2,010,250||Rs 6,030,750||Rs 753,844|
See the site plan of the locality below:
Right now, it would be pointless to make any predictions about the prices and changes (if any) in the master plan of the locality if DHA does indeed end up acquiring it, so I would recommend stakeholders to keep an ear out for any concrete news about this and take a decision accordingly.