Lake City Lahore is one of the hottest projects in the city and has been able to foster much attention primarily because of its architectural designs, and now because of its central location. The location of the project has only now gained much prominence after the opening of Lahore Ring Road’s southern loop, providing continuous access to the residents, while giving the investors a chance to get better value for their money.
Development in Lake City
All of these are extremely important reasons, engineering the recent price hikes in the area and are therefore the determining factors for all those who want to be a part of Lake City. According to Maqsood Shah from Consult N Deal, the entire housing society is a properly planned project and has various avenues for recreation as well as healthcare and education facilities. He further adds that people are eager to live here because the project isn’t just a housing society but a city of its own, complete with all features. The most attractive feature is that the society has a power-generator of its own, ensuring there is very little or no load shedding.
According to Shahid Aziz from Sallar Consultants Developers Lake City, development in the society is almost complete and some families have even started to live here. All main roads have been paved along with streets, parks have been completed, and schools and markets in some areas are also operating. However, work is still underway on the community centre, which is going to be at the centre of all recreational facilities.
Property and prices
There are two kinds of residential property on offer at Lake City, residential plots and houses.
| Size | Price (PKR) | Location |
| Plots | ||
| 5 marla | 4,500,000 | M-7B |
| 7 marla | 5,500,000 | M-7A |
| 10 marla | 7,000,000-8,000,000 | M-2, M3 extension, M-5 |
| 12 marla | 8,500,000 | M-1, M-3A |
| 14 marla | 10,500,000 | M-1, M-3A |
| 1 kanal | 12,000,000 | M-1 to M-4 |
| 2 kanal | 40,000,000- 45,000,000 | M-1 to M-4 Golf state |
| 4 kanal | 100,000,000- 120,000,000 | Golf State |
| Houses | ||
| 5 marla | 7,500,000 | M-7 |
| 7 marla | 9,000,000 | M-7 |
| 10 marla | 12,500,000 | M-7 |
| 12 marla | 10,600,000 | M-1 |
| 1 kanal | 32,500,000 | M-1 |
Aziz adds that possession is available all throughout Lake City, except for sectors M-7 and M-3 extension, and work is underway to further expand the area of the society to facilitate more aspiring home buyers and investors. According to Shah, the 5-marla constructed houses are slightly used. By this, he means that these are those houses which were booked as soon as they were launched, and are now on sale after people lived in them for a while and now some see it as a good opportunity to sell.
Commercial property based on 5 and 8 marlas is available for sale and costs between PKR 2,750,000 and PKR 3,200,000. Both, according to Aziz, are selling high in the market. When asked about the future prospects of the Lake City, both of our experts are of the view that the prices are expected to increase by another 25% by the end of this year.
If you are looking into investing or buying in Lake City, and our update was helpful, please write to us in the comments below! You can also head on to our Forum for further discussion.
No comments:
Post a Comment