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.
