To invest or not to: the LDA City question




LDA City, a project by the Lahore Development Authority (LDA), is being developed in collaboration with four partners. It has been embroiled in controversy because of various reasons in the past. Even a NAB case was initiated against the project, causing many to grow wary of whatever it had to offer.
However, according to a society official, the case has been resolved. And it seems like the project is generating some buzz in investor circles. But should you invest here? Let me help break it down for you.
The project is being heavily marketed in newspapers. In a newspaper ad published a few days ago, April 24 was promulgated as the last date to book a plot in LDA City. Please note that these plots were offered on a lump sum payment and were limited in number.
It was also marketed that the master plan and access road for the project were complete. However, the master plan has not been made public yet.
On the other hand, the authority has recently rolled out a public notice asking stakeholders concerned to submit their claims (if any) against the acquisition of land for LDA City in Thay Panju village. The authority has requested stakeholders to submit their claims within 15 days, after which no claim will be entertained.
The prices of plots in LDA City have been experiencing rising trends for the past few months.
Plot size
Price
5 Marla
PKR 1,590,000
10 Marla
PKR 2,290,000
1 Kanal
PKR 3,690,000
According to the society official I spoke to, development work has begun and balloting will be held by the end of 2017. Perhaps the master plan will not be launched before balloting takes place.
The project has also seen an increase in property values because the Lahore Ring Road (LRR) cuts through it. Development work on the road is underway and prices in LDA City will increase further once development work on the road, as well as in the society, progress.
LDA City is slated to be the largest housing project in Pakistan. It will feature an 18-hole golf course, three central business districts, a diplomatic enclave, a theme park spanning 390 kanals, and a mega park spread over 1,000 kanals.
It seems like LDA City is going to be the next big thing in Lahore’s real estate landscape. On the other hand, it must be noted that LDA Avenue I (another project by LDA, located on Raiwind Road) still has litigation issues and file owners with property stuck in the project have been waiting for compensation for years now. The authority should also focus on resolving their issues.


Comments

Post a Comment

Popular posts from this blog

PAEC Foundation Housing Project’s problems about to end?

Image
Located on Canal Bank Road in Lahore, PAEC Foundation Housing Project has been facing delays for many years now. The society’s management could not handover possession of property here, despite completing development work to a large extent. During 2013, there were many rumours that possession was on its way, but nothing happened. These rumours then resurfaced during 2016, but once again, no practical steps were taken to move towards possession. The real problem behind the delays was the supply of electricity. However, now there is light at the end of the tunnel. The Water and Power Development Authority (WAPDA) will finally supply electricity to the society, which means that possession will be granted here sooner rather than later. And what makes me believe that? WAPDA issued a demand notice to the society’s management for the supply of electricity, and the management has settled its accounts with the authority. According to a source, electricity wires have bee
Read more

All you need to know about Royal Palm city, Gujranwala

Aujla Associated, the same people who have previously delivered University Town and Canal View Housing Scheme, is developing Royal Palm City. It is a trusted name that delivers what it promises, which makes this a must-have project for investors and homebuyers. Let’s talk location The project is located off Main GT Road, near Chan Da Qila, right opposite Citi Housing Gujranwala. At present, it has no direct link to the GT Road, but that will soon change. In order to connect the project with the GT Road, the construction of an underpass has been included in the project’s master plan. Once completed, this underpass will serve as the main entrance to the society. In addition, the famous Al-Karam Marriage Hall and a railway track are located right behind the project. In terms of size, Palm City’s management claims that society will span over 4,000-kanals of land, all of which has been required. According to my sources, the developer is acquiring more land, so Royal Palm City is s
Read more

Why should you invest in Zarghoon Housing Scheme, Quetta?

Quetta, the prime most city that falls on China-Pakistan Economic Corridor (CPEC) leading to the western borders, is somewhat ignored in the entire concept of economic revolution we look forward to from the development of Gwadar. Not just that many investors fail to gauge the city’s importance, a big number of the local folks are also seen buying land in Gwadar. Looking at the rates of property in Quetta that could change soon. The announcement of DHA Quetta certainly will spice things up here, the real estate market nonetheless continues to serve genuine buyers. To throw light on one such project that currently interests genuine buyers, this exclusive piece on  Zarghoon Housing Scheme , which a project of Quetta Development Authority. A pretty fine location Zarghoon Housing Society is located near Hanna Bypass in Nawakili. It has a network of extensive road network spread around it. Many established housing societies including Jinnah Town, Ashiana Housing Scheme, Al Rehman T
Read more