Almost all investor-centric real estate projects have had a very silent second half of the year and Bahria Town Lahore is no exception. Bahria Town Lahore didn’t only experience a sheer lack of investment activity, but also witnessed some issues as grave as the dilemma of the final route of the Lahore Ring Road that is set to cut through several established blocks of the society. Furthermore, the famous Sector F issue has also made investors wary of the idea of investing in properties that aren’t on-ground here.
The last 6 months have been strange for the property sector, where despite no activity, property rates in some localities managed to sustain the pressure and didn’t see a decline too drastic to crash the market. Similar trends were seen in Bahria Town proper, as rates of the on-ground property here have seen only a marginal drop. But the same doesn’t stand true for Bahria Orchard. According to Unique Associates CEO Atique-Ur-Rehman, average property rates in Bahria Orchard have dropped by over 20% since July 2016.
While Rehman doesn’t see much rise in property trade activity after the announcement of the tax amnesty scheme, he is of the view that property demand in Bahria Orchard has slightly improved and rates here have also started to climb. He believes that this demand has nothing to do with the amnesty scheme, as the recent drop in property prices has enticed investors to head to Bahria Orchard. He also mentioned that the current activity isn’t impressive enough to bring along a nice price rise in the short term.
While genuine buying and selling of properties continues in Bahria Town proper, Bahria Orchard mostly interests investors at the moment.
If you are looking to invest in Bahria Town’s projects in Lahore, you should only purchase on-ground plots and refrain from investing in files and projects whose maps have not been shared and other information about their development work has yet to come.
When asked about the Lahore Ring Road’s route, Rehman confirmed that the route hasn’t changed, but Bahria Town is offering compensation to the affectees of the project. Plot owners are being offered alternate plots in Bahria Town proper, while for homes, the developer is offering cash as per market rates.
So if you were hoping that the route of LRR would be changed and your property would stay safe, it’s time to accept reality and make your claim. For this purpose, you can visit Bahria Town’s office in Bahria Orchard.
If you wish to discuss investment prospects in Bahria Town with Atique-Ur-Rehman, you can reach him at +92-335-331-3300.