As promised, I am here with information about some more housing societies worth considering for investment on Raiwind Road. In my previous post, I shed light on the investment prospects of Bahria Orchard, AWT’s Phase II, Sui Gas (Phase II) and LDA Avenue I. Today, I will discuss societies such as Lake City, Icon Valley, Fazaia Housing Scheme (Phases I and II) and Chinar Bagh.
Without further Ado, let’s get started.
Lake City is one of the most sought after housing societies among investors. Prices in the locality have increased impressively in the recent past because of the expansion of Raiwind Road and also the development of Alternate Route, which has given access to the society from Khayaban-e-Jinnah. I believe the prices in the locality will increase further in the time to come because of the proposed development of Lahore Ring Road (LRR) with its interchange expected to be built at Adda Plot.
Recently, 5-marla plots were launched at PKR 3,000,000 in Block M7 (C) and 7-marla at PKR 4,190,000 in Block M7 on instalments. The question is: should you capitalise on these plots? Yes, because I am expecting an impressive price increase for these plots because of the LRR.
And if you wish to pay on cash, you can consider 5-marla plots in Block M7 (B) with their price ranging between PKR 3,300,000 and PKR 4,000,000. On the other hand, 7-marla plots can be procured on cash in Block M8 for PKR 3,000,000 and 3,500,000.
Furthermore, 7-marla plots with possession are also available in M7 (A) and their price range between PKR 4,500,000 and PKR 5,500,000.
Please see the table below to have an idea of the prices of other plot categories in the locality:
|Plot Categories||Price Range||Notes|
|10 marla||PKR 6,500,000 to PKR 7,500,000||Plots with possession are available in Block M5, while possession has yet to be granted for the same category of plots in Blocks M2 (A) and M3 Extension|
|12 marla||PKR 7,000,000 to PKR 7,500,000||Plots with possession are available in Block M1, while in M3 (A), the developer has yet to grant possession.|
|14 marla||PKR 7,500,000 to PKR 8,000,000||You will get plots with possession in Blocks M1, while the plots for which possession has not been granted yet are available in Block M3 (A).|
|1 kanal||PKR 8,500,000 to PKR 10,500,000||M1, M2, and M3 are the blocks where possession has been given for this plot category. And if you are looking for plots without possession, you should head to Block M3 (A)|
Icon Valley is located only 3 kilometres away from the proposed LRR interchange on Raiwind Road. The society is 70% developed and features apartments and houses.
According to my sources, 60% of the property units have been sold and 30 to 35 families are already living there. It is an LDA-approved housing project, which means you can capitalise on the society without fretting about approval-related matters. And you should consider this locality for investment as well as living.
Because of the massiveness of the payment plan for apartments and houses, it is not possible for me to present it here, so I suggest you click here to view complete payment plan. I believe prices in the locality will surge with increase in population and development of LRR.
Fazaia Housing Scheme (Phases I and II)
Phase I of Fazaia Housing Scheme is fully developed with possession handed over for all plot categories. Though plot prices have already increased manifold in the locality, the development of LRR will play an important role in propelling prices further.
You should note that the LRR will cut through the society and will affect plots in Blocks A, E, and F. However, there are rumours that the Fazaia management will allot alternate plots somewhere at the backside of Block B or acquire Wyeth Housing Society for this purpose, but there is no official word on it. So, you need to take your investment decisions wisely.
Please see the table below to have an idea of plot prices in Phase I of Fazaia Housing Scheme:
|Plot category||Market Price|
|10 marla||PKR 6,500,000 to PKR 7,700,000|
|1 kanal||PKR 9,000,000 to PKR 11,500,000|
Fazaia Housing Scheme’s Phase II is in its development stage. Almost 60% to 70% of the road infrastructure is complete and it is expected that possession will be handed over in Phase II in January 2017.
The locality features 5-, 7-, and 10-marla and 1-kanal residential plots. The table below will give you an idea of plot prices in the locality:
|Plot category||Market Price|
|5 marla||PKR 2,200,000 to PKR 2,600,000|
|7 marla||PKR 2,800,000 to PKR 3,200,000|
|10 marla||PKR 4,000,000 to PKR 4,500,000|
|1 kanal||PKR 5,500,000 to PKR 6,000,000|
Chinar Bagh is a cooperative housing society and features residential plots of 5 marla, 10 marla, 1 kanal and 2 kanal.
Adda Plot is located almost a kilometre away from the society. In Punjab Extension, 5-marla plots are available on cash with their prices ranging between 1,450,000 and PKR 1,650,000. It is expected that possession for these plots will be granted within a year.
The society also launched 5-marla plots on instalments (PKR 20,000 per month) in Jhelum Extension. This is another option worth considering for investors on the lookout for bagging returns in an estimated time of 3 years.
Punjab Extension and Jhelum Extension are the only blocks where possession has not be granted yet, however, you can build your houses in other blocks such as Punjab, Rahbar, Khyber, Bolan, Mehran, Shaheen and Rachna.
Please see the table below to have an idea of the prices of plots with possession in Chinar Bagh:
|Plot category||Market Price|
|5 marla||PKR 2,200,000 to PKR 2,700,000|
|10 marla||PKR 3200,000 to PKR 3,800,000|
|1 kanal||PKR 4500,000 to PKR 6500,000|
|2 kanal||PKR 8500,000 to PKR 15,000,000|
I hope this post would be helpful for you to base your investment decisions on. If you still have any queries in mind, please feel free to talk to me in the comments section below. I will try to answer your queries as soon as possible.