Located in the midst of many other housing societies in southern Lahore, LDA Avenue I enjoys an excellent location. Although this project has been facing litigation issues and the Lahore Development Authority (LDA)’s apathy towards the resolution of snags, investors are still capitalising on it and are hopeful that their investment will grow manifold in the time to come.
Now it seems that this hope it actually materialising with the passage of time.
According to property price stats meticulously maintained by Zameen.com, the average value of 10-marla and 1-kanal plots residential plots increased sharply during Q1 2016. Better still, the society is expected to continue this trend in the near future because:
1) LDA has started to supply electricity to the society
2) Lahore Electric Supply Company is accepting applications for electricity metres
3) Many people have begun to build their houses here
Amid this price increase, there are many plots that are under litigation. Even though the authority has been fighting a series of battles in courts to get controversial land cleared for quite some time now, some of the area is still disputed and investors who own plots in these patches are clueless about the future of their investment.
The LDA has already held two rounds of balloting to allot alternate plots to the affectees. Yet, the remaining victims are still awaiting the third round. Let’s hope that the third round of balloting will be held soon.
There are some investors who deliberately capitalise on litigious plots, thinking that they will bag bigger returns once a litigious property has been cleared, but it’s difficult to find such people.
Market value of plots
According to Muhammad Abdullah of Siddique Associates & Builders, the market rates of 10-marla and 1-kanal plots in LDA Avenue I are as follows:
|Plot Category||Market Value of Clear Plots||Market Value of Litigious Plots|
|10 Marla||PKR 4500,000 to PKR 6500,000||PKR 1800,000 to PKR 2,000,000|
|1 Kanal||PKR 6,600,000 to PKR 12,500,000||PKR 3,200,000 to 3,500,000|
Should you invest in LDA Avenue I?
According to Zameen.com’s stats, the average sale price of 10-marla plots in LDA Avenue I is PKR 4,930,363 and that of 1-kanal plots is PKR 10,305,595. Keeping in view the average value of plots in other societies on Raiwind Road, prices in LDA Avenue I still have room to grow. So, the way I see it, you should invest in the locality.
If you are planning to invest in LDA Avenue I, make sure you buy a clear plot. Visit a one-window cell of the LDA, tell them the membership number or plot number and they will confirm the status of the plot in question. Otherwise, I can also help you out in this regard. Just share your plot number with me.
That’s all about LDA Avenue I for the day. Let me know if you have further queries about the society in mind.