Prices drop in developed/ constructed areas
I spent quite busy one month in Lahore and got quite a lot of information of
prices in WAPDA and surrounding areas and compared prices with Dec 2005 for interest of buyers i am posting some comparisons,
WAPDA 10 Merla J K blocks 31,32 in Dec 2005 and 25,26 in 2006,
valancia eg B block 40,41 in Dec 2005 and 30 to 31 in Dec 2006.
Iqbal avenue1 45 to 48 in Dec 2005 and 38,39 in Dec 2006
Nasheman iqbal 35 in 2005 and 26 to 28 in 2006
PIA good Blocks 45 to 48 in 2005 and 34,35 in 2006.
Looking at this it seemed there was about 25% drop in general. Still there is room in WAPDA price fall as WAPDA 10 Merla Blocks after nala are just 1/2 KM away from Valancia later has better development and a lot of construction, the price difference of only 5 lakh in 10 Merla and Kanal in abnormal either Valancia will come up or WAPDA will go down. In 1 year I saw a lot of construction in Valancia and it looks at least Blocks A,B, A1, E and c will be densely populated in 2 ys, already there are 200+ homes in A and 80 + homes in B block A1 also densely populated.
As regards management, PIA though densly populated is heading towards failure and becoming below average society. Iqbal avenue is average society, WAPDA and Valancia still sucessful, Nasheman 1 is average.