DHA Lahore Phase 7 – no longer idle or inactive!
Phase 7 of
DHA Lahore has been under development for a while now. It was launched about a decade ago and has been developing slowly and gradually ever since. Even today, some of its block are awaiting possession and since the official news has to come from the DHA, nothing can be said for certain about when the developer is going to offer possession of the remaining blocks.
Phase 7 of DHA Lahore is located parallel to Phase 8, with Barki Road on one side, Bedian Road on the other and BRB Canal at the back. It has a total of 12 blocks and possession is available in 7 of these blocks that include R, S, Q, T, U, V and W. The blocks awaiting possession are P, X, Y, Z-1 and Z-2. Please note that there aren’t any 5-marla residential plots in Phase 7, while 10-marla plots are available in Blocks T, U, X and Y, with possession available in only Blocks T and U.
Average rate of 10-marla plots in DHA Phase 7, as of June 2015, is PKR 6,000,000, which has increased by 5% since January 2015 (PKR 5,500,000). The rate of 10-marla plots is, of course, different for different blocks primarily because of possession as well as the
location of the block itself. In Blocks T and U, 10-marla residential plots whose possession isn’t available yet are being traded at a sale price ranging between PKR 6,000,000 and 6,500,000.
For 1-kanal plots, the rate is almost the same in blocks where possession is available, i.e. between PKR 11,500,000 and PKR 15,000,000. The cheapest blocks to buy 1-kanal with possession available are Blocks Q and T, as the average rate there lingers between PKR 10,000,000 and PKR 12,500,000. These blocks are cheaper because some of the land there is yet to be acquired and development work is consequently slow. The most expensive blocks for 1-kanal plots are Blocks R, S and W, as the average sale price of 1-kanal plots in these blocks is PKR 13,500,000.
The sale price of 2-kanal residential plots is roughly the same for the two blocks that offer them, Blocks X and Y. Average sale price of 2-kanal residential plots in Blocks X and Y ranges between PKR 18,500,000 and PKR 20,000,000. You must remember that possession in Blocks X and Y isn’t available as of yet.
The market for property in Phase 7 has been getting better since rumors first began to circulate that the DHA is offering possession in the remaining blocks by the end of 2015. Possession would be offered block-wise, which makes 10-marla plots in Block T likely to be the first ones to get it. So, for a short-term investment that promises a decent gain of 10% to 15%, these 10-marla plots in DHA Phase 7’s Block T are your best bet.
For the rest of the blocks without possession, the coming 6 months are very promising. So, all of you who have been waiting for a while to see your property in DHA Phase 7 gain the value and worth it deserves, now is the time to closely watch it and make the right move at the right time with the right information.