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Is it time to invest in Fazaia Housing Scheme Lahore’s Phase II? - Zameen News
 

Is it time to invest in Fazaia Housing Scheme Lahore’s Phase II?

February 26, 2016 • news

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When launched back in 2010, many thought Fazaia Housing Scheme Phase II was too far from the central areas of the city. In the last 6 years, however, a lot has changed in terms of infrastructure in the southern peripheries of Lahore. When the southern loop of the Lahore Ring Road (LRR), the route of which is a cause of concern for property owners of a certain block in Bahria Town, is in place, the situation will look even better.

While scanning the map of Lahore right now, I noticed that this city is almost twice the size of what it used to be in the late 90s. While this route, which is also believed to be the final route, may not be able to encircle the entire city, it will certainly make this area that is so important to Lahore’s real estate sector much more approachable. Link roads sprouting from the LRR and the interchanges strategically placed on it will lead to an extensive road network in this area, making housing societies such as Fazaia Housing Scheme Phase II well within reach.

It seems that all this will happen in just a couple of years. In other words, the investment duration in Fazaia Housing Scheme is actually not long-term anymore. If this statement interests you, you must keep a close tab on the rates of plots for sale in Fazaia Housing Scheme Phase II.

The project lies on Sundar Road near the Sharif Medical Complex Road and has two gated and guarded entrances, one from each road. It covers a small area, just enough to feature four blocks in total: Blocks A, B, C and D. Here, you can find plots in sizes of 5 marla, 7 marla, 10 marla and 1 kanal. Rates are very reasonable at the moment, but this might not be the case for too long as the pace of development here is actually really impressive, according to sources. Phase II may possibly get possession by end of this year.

Even as you read this, roads are being carpeted and electricity poles are being installed. To me, it appears that Fazaia Phase II is currently at the top of the developer’s priority list. I have requested a photographer to get me the latest pictures of the project and I will add them to this post as soon as I can.

What attracts investors and genuine buyers to this project even more than the pace of development is the affordability of residential plots. Let’s have a look at them:

Plot size Price Range in PKR
5 Marla PKR 1,400,000 - PKR 1,800,000
7 Marla PKR 1,800,000 - PKR 2300000
10 Marla PKR 2,400,000 - PKR 3,000,000
1 Kanal PKR 4,000,000 - PKR 5,000,000

 

Currently, there is decent demand among buyers but hardly any sellers. They seem to be aware of the fact that the expected possession can make these plots a lot more expensive. If possession is handed over by the end of this year, the value of these residential plots can increase by 30% to 40%, which makes this a really promising short-term investment.

Looks like it is time to head to Fazaia Housing Scheme’s Phase II!