Recently, Lahore’s Main Canal Bank Road has seen a lot of development in terms of the number of housing societies which have recently been developed in the area. Of these, Zaitoon’s New Lahore City has recently gained a lot of prominence and is attracting a lot of buyers and investors.
This is the latest update about the society’s development status, availability of possession, and price competitiveness, as well as future prospects.
Development and possession status
According to Syed Khurram Gillani from Estate 4U real estate consultant's, the society was launched back in 2000, but over the years, the development work has been carried out at a fast pace. Presently, the society’s all main roads, streets, and commercial areas have been properly developed and possession is available. Khurram has observed that it is because of this that so many people are interested in buying in the area.
Khurram who also deals in DHA-Lahore, and Syed Shaheen Anwar Gillani from Estate 4U agreed with this statement. Both of them are of the view that the administration is on top of things in ensuring that development work is done at the earliest and in the best way possible. All three unanimously pointed out that possession is available in blocks A, B, C, and D, while in the newly-expanded area it remains to be given. However, despite this, there are very few constructed houses in the area.
Ali attributes this to the distance of the housing society from the main Ring Road which primarily hinders residents’ accessibility, thus making it hard for them to locate here. He added, however, that in the future, a direct access would be provided from Manga Road, which will make it more accessible for people to live here.
Properties on offer and prices
On offer are both commercial and residential properties. For residential property options, both plots and constructed houses are available for purchase. Prices mentioned on our Property Listings Page are down payments for either houses or plots. The final prices, as of the current prevailing market conditions are listed below:
| Property Size | Price (in PKR) |
| Residential Plots | |
| 5-marla | 2,500,000-3,000,000 |
| 8-marla | 3,500,000-4,000,000 |
| 10-marla | 4,500,000-5,000,000 |
| 1-kanal | 10,000,000- 12,500,000 |
There are more residential plots available for sale and more people are interested in buying these at the moment. There are very few constructed houses in the area, and although these are available in various sizes such as 3-, 5-, 8-, and 10-marla, as well as 1-kanal, the majority of the inventory is residential plots.
According to Khurram, investment in New Lahore City is good for all long-term investors. He believes that with the opening of new roads and linkages, the residents will be able to easily access the rest of the city, and this would monumentally increase the value of property here. He said this while also pointing to the fact that the market prices for properties here haven’t increased as much even when so many people are eager to invest here. This, he says, is both an incentive to invest and an indication that New Lahore City is only good for long term investment.
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