Divine Gardens had its issues in the past, but those seem to have been long over while the society prepares for better market conditions where the provision of gas connections is just around the corner. With more buyers and limited sellers eager to cash on this much-awaited development, the demand for homes in Divine Gardens is soaring. Here is all you need to know about this!
Project details
The society is located on Airport Road next to Metro Cash and Carry Store’s Airport Branch. Its location is perfect for those who wish to enjoy living in a calm neighbourhood that’s well within the city. From here, Allama Iqbal International Airport, Lahore Ring Road’s Sehjpal Interchange, Defence Housing Authority Phases II, VI,VII, and VIII, Cantt, and Askari X lie at a short driving distance. With all important facilities in the form of commercial areas, food outlets, shopping stores, the markets of Bhatta Chowk and Bedian Road, top health and education facilities nearby, Divine Gardens indeed is a great project to live in.
Latest developments
Some of you may be aware of the fact the electricity connection provided to the society is for commercial usage, where the rate per unit is charged at PKR 20, but only a few know that the situation is to change soon. With work on laying pipelines for gas connections underway, it doubles the treat for property owners who aren’t looking just yet to sell anything.
Syed Khurram Gillani of Estate 4U says that the society currently has more demand than supply, as the property owners are finally hoping to get return on their investments made back in 2011. It is expected that as soon as work on gas connections finishes and installation of electricity meters on residential rates begin, property rates here will increase by 15%.
Market demand
As mentioned earlier, the number of buyers looking to purchase a house, be it a finished unit or the ones with only the grey structure ready, exceeds the number of sellers, the market resonates with positive energy. And that’s despite the fact that investment activity otherwise has shrunken. So obviously most of these interested buyers are end users, including some who are looking to pay any asking price.
A look at the inventory
Divine Garden has a limited number of 1-kanal units, most of which are occupied by the owners. The number of finished units in other sizes is comparatively higher and so is their market demand among both buyers and tenants. The high occupancy rate even in the absence of gas connections and commercially charged electricity connections says a lot about the project.
According to Awan, out of the total 5-marla units, 70% have been finished, while the percentages of finished units for 10-marla and 14-marla units stand at 50% and 20% respectively. Potential buyers here don’t mind purchasing grey structures and proceed with finishing the unit according to their individual requirements, the rates of finished units and those having just grey structures built is of course different.
Market rate
Here are the current market rates of these units available in Divine Gardens, to help you have a better understanding of their market demand. We have also included their current rental values:
| Size | Grey structures (PKR) | Finished units (PKR) | Rent (PKR) |
| 5-Marla | 6,500,000 – 7,200,000 | 9,900,000 – 11,500,000 | 30,000 – 35,000 |
| 8-Marla | 10,500,000 – 12,000,000 | 16,000,000 – 17,500,000 | 50,000 – 55,000 |
| 10-Marla | 12,500,000 – 13,500,000 | 17,000,000 – 23,000,000 | 75,000 |
| 14-Marla | 19,000,000 – 22,000,000 | 25,000,000 – 26,500,000 | 95,000 |
| 1-Kanal | 30,000,000 – 35,000,000 | 40,000,000 – 46,500,000 | 120,000 |
So what do you think about buying a house Divine Garden? We expect that the idea will intrigue genuine buyers more. Let us know your opinions through your comments.
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