LDA City Plot Buying Tips for Time Buyers

LDA City in Lahore is deemed to be the biggest and most affordable area for real estate investment. The prices come with payment plans and there is much to choose from.  This is the largest endeavor in Lahore.  Its aims are to provide a healthy lifestyle of living.  Besides have a large home development scheme, there will also be a wide commercial area as well. The hope is to cater to high rise home owners and bring in much commercial development as well from investors. The commercial develop will give a boost to the daily economics of the city.

As with any other property type, there are many issues to be concerned with before you purchase a plot of land.  LDA City plots are somewhat similar to other developments in that investing will bring you a decent ROI in the futures.   As you are looking at plots and trying to decide on where you want it, please keep in mind these issues.

Tip #1 Know the pros and cons of buying in LDA City

LDA City has been touted as the new place to place your money.  It is the largest property development in the city.  Like other Lahore cities it is deemed to be very safe due to new laws and enforcement.  Just about anyone with money will be able to purchase plots.  It is deemed a lifestyle community and promises to give out high end returns.  On the flip side much of the development is no where near being completed. In fact much of the property for sale has not even broke ground and will not break ground for many years to come. Currently there are very few urban developers actually working on deals.  You might buy a plot now but will have to wait several years before you can see and return on investment.   Depending on how much money you are willing to spend you may get a better deal in DHA instead.

Tip #2 Consider the whole reason behind buying a plot.

Depending on your long term goals there are several plot types you can buy.  LDA City will be developed to offer its investors a wide range of places to put their money in.  Large scale plots of housing are the main development.  There will be many options to choose from depending on your income level.  LDA City hopes to attract those with lower incomes into investing some money in land.  Even middle income people will have some great options.  For those looking to the commercial market, there will be many avenues for that. The plan is to add in much needed retail stores to bring the economy up.  Other commercial type offices will be made for businesses.  These will provide a little more return on investment.  So whatever you want to buy with your money there will be an option available in LDA City.

Tip #3 What local features or amenities will you require.

The LDA housing scheme will offer an all inclusive living plan for its investors. The goal is to make it a state of the art housing society.  Homes will be available in many different options from basic homes to high end high rise apartment homes.  The local facilities will include well-planned road networks, water treatment plants, shopping centers, city parks, lush green landscapes, medical facilities, various schooling, colleges, local community centers, sport clubs and recreational facilities such as Joy-Land and Mini Zoo, various man made lakes and much more.  All these facilities will be fully modern and technologically advanced to meet community needs.

Tip 4 Know the available plot costs

Plot costs can vary from location to location.  So it is wise to know what is out there on the market.  LDA City will have the following options available for purchase:

·         5 Marla Residential Plot

·         10 Marla Residential Plot

·         1 Kanal Residential Plot

·         2 Kanal Residential Plot

The costs of each plot breaks down as follows:

·         2 Kanal : Rs. 6,500,000

·         1 Kanal : Rs. 3,490,000

·         10 Marla : Rs. 1,990,000

·         5 Marla : Rs. 1,390,000

LDA City has mapped out a full budget and payment plan for these plots. The goal is to make a plot as affordable as possible to attract in the investors. Property has been priced to meet the needs of the very wealthy down the those in lower incomes.

Tip #5 What will be your source of financing?

When you decide to purchase a plot you need to be able to pay for it.  Not everything can be financed through a bank for instance 2 Kanal Plots have to be purchased with cash. For some people this is not a problem as they have savings available to them or can get the money from family as well.  Other people may need some financial assistance for their plot purchase.  It is vital before you even consider a plot purchase that you know where your funding will come from.  If you need a loan there are several bank options available. 

Tip #6 Beware of plot sales that are taking too long

Unlike other properties in Lahore such as the DHA communities, LDA City has been plagued by a lack of direct action. Ground breaking is slow is many areas as there are not a lot of developers working on it. A full fledged marketing campaign has been launched for advertising. However it is not bringing in substantial investments as of yet. Even bidding on files has taken a long time. 

Tip #7 Have an alternative plan for buying a plot

If all does not go well with your plot purchase you should be able to back out of a sale and choose another plot elsewhere.  There is always to possibility that something can go wrong. With the ground breaking delays LDA City has, some people are looking to invest in other locations such as with DHA Lahore communities instead. So there are options available you just need to keep your eyes open and beware that something could change at any time.