For over 20 years, State Life Housing Society Phase I Lahore has managed to do without the proper supply of electricity from WAPDA. The absence of such an essential and primary facility has kept property in State Life from experiencing the gains it truly deserves. The main reason why we believe both phases of State Life Housing Society possess huge potential to become ideal housing societies is their location.
State Life Housing Society is located near the completed patch of Lahore Ring Road, very close to DHA Phases IV and V. In fact, the society’s main entrance is from DHA Phase V, making it a very fine area to live since all the irresistible attractions of DHA are within comfortable reach. Because of being a close neighbour of DHA, property rates in State Life Phase I were supposed to be comparable with DHA’s. Sadly though, that hasn’t been the case.
Per the stats of Zameen.com recorded so far in May 2015, the average rate of a 10-marla residential plot in State Life Phase I is PKR 7,500,000 while the average rate of same-sized residential plots in DHA Lahore Phases IV and V are PKR 15,000,000 and PKR 15,100,000 respectively. Although property rates in State Life Phase I cannot exceed or be on par with the value of property in DHA, they can certainly still go up. The availability of proper electricity can have that impact in this society in the near future.
Previously, due to the absence of the society’s own grid station, State Life Phase I wasn’t considered to be an ideal place to live. Since this problem has been corrected, we can expect that the owners of State Life Phase I properties to go ahead and build their homes and also consider moving there. This increased construction activity will catch investor attention, making the property values go up and consequently intriguing more investors and genuine buyers – eventually creating a nice demand-supply cycle.
Do you have any thoughts on the matter? Are you a resident or property owner of State Life Phase I? If yes, please enlighten us with your comments below.