When it comes to depreciation in rates of plots in Lahore, it started soon after the new tax collection system was introduced back in July 2016, with LDA Avenue I on the list of societies affected. Since then, the market rates of plots in this society have dropped by over 20%. But there is a bright side to this; current rates have made the project altogether more attractive for buyers on a budget. This article gives you fresh details on the project that does have a bright future in the longer run.
Current trends
Property agents operating in LDA Avenue I report that despite low investment activity, genuine buyers with budget constraints are keen to buy residential plots here. In addition to that, a decent number of end users are also drawn to availing the currently low rates in the society. In fact, according to Basharat Ali of Hamza Real Estate, many houses in almost all blocks of LDA Avenue I are currently under construction.
The situation in the society
There have been updates about LDA Avenue I in our old blogs, which you can check by clicking here. The recent development in this regard is that efforts are being made to sort the matter with landowners, said Ali, who also believes that the matter will eventually be settled. One of the indications that buying a plot here is not definite no-no anymore, is the fact that the Lahore Development Authority has lifted the ban on transfer of litigated plots.
Buyers interested to purchase such plots can do so by submitting an affidavit and giving an undertaking that they are aware of the status of the plot and will accept the decision of the court.
The biggest attraction to buy these plots in litigation is definitely their low market rates, which in some cases can be lower by 50% than that of plots that have been cleared by the authority.
A look at market rates
The current block-wise market rates of residential plots in LDA City are given here under. The lower rates are for the plots not having prime location or those in litigation, while the higher rates are for category plots occupying prime locations:
| Blocks | Plot size | Price range |
| Block A | 10-Marla | PKR 5,500,000 – PKR 6,000,000 |
| 1-Kanal | PKR 6,500,000 – PKR 9,000,000 | |
| Block B | 10-Marla | PKR 4,500,000 – PKR 5,000,000 |
| 1-Kanal | PKR 7,000,000 – PKR 8,500,000 | |
| Block C | 10-Marla | PKR 3,500,000 – PKR 6,000,000 |
| 1-Kanal | PKR 6,500,000 – PKR 9,000,000 | |
| Block D | 10-Marla | PKR 4,000,000 – PKR 5,000,000 |
| 1-Kanal | PKR 6,500,000 – PKR 9,000,000 | |
| Block F | 10-Marla | PKR 4,500,000 – PKR 5,000,000 |
| 1-Kanal | PKR 7,000,000 – PKR 9,000,000 | |
| Block G | 10-Marla | PKR 3,000,000 – PKR 4,500,000 |
| 1-Kanal | PKR 7,000,000 – PKR 8,000,000 | |
| Block H | 1-Kanal | PKR 7,000,000 – PKR 9,500,000 |
| Block J | 10-Marla | PKR 5,200,000 – PKR 6,500,000 |
| 1-Kanal | PKR 7,500,000 – PKR 8,500,000 | |
| Block K | 10-Marla | PKR 4,000,000 – PKR 4,500,000 |
| 1-Kanal | PKR 5,000,000 – PKR 5,500,000 | |
| Block L | 10-Marla | PKR 2,000,000 – PKR 2,500,000 |
| 1-Kanal | PKR 4,500,000 – PKR 5,000,000 | |
| Block M | 10-Marla | PKR 4,000,000 – PKR 6,000,000 |
| 1-Kanal | PKR 7,500,000 – PKR 9,500,000 |
Where to buy?
If you are not up for buying a plot that could offer return in the long term (litigated plots), the blocks not recommended by Ali are Blocks G, K, L, and some parts of Blocks B and C. You can instead go for Blocks F and H as these have no litigation issues.
And if you wish to opt for the current tempting bargains where the average market rate of a 10-marla that can be as low as PKR 2 million, you can choose accordingly by looking at the table given above. Please note that the litigation issues in the society are to be solved eventually, the only thing that’s not clear yet is exactly when they will be solved.
Ali recommends that those interested in purchasing a 1-kanal plot in LDA Avenue I should go for Blocks F, H, or D, and buyers looking to purchase 10-marla plots should opt for Blocks J or M. His recommendation is based on the view that plots in the society are currently undervalued by 100%, making now the right time to make a calculated move.
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