In the current scenario DHA Lahore prices should have taken a reasonable increase owing to its credibility & its location. Amongst numerous housing societies DHA Lahore was regarded as one of the best organized housing society in Pakistan but recently investors are hesitant.
The dilemma is that the laws governing these societies do not somehow properly safeguard the consumers’/customers’ rights & thus buyers are left on the mercy of property dealers. These property dealers, by & large, maintain different stance to the buyer as opposed to the seller of the same property. Absence of clear-cut announcements of balloting, possession, development charges, etc. ahead of the project from the societies give rise to rumor factories. Also the absence of periodic publications from these societies (which otherwise help the investor to understand what kind of people have invested in a particular society, how much land has been acquired, what is the estimate of development charges, etc.) creates confusion shaking investors’ trust. In this regard DHA Lahore is no exception.
Infact, if we take a retrospective look at the past 3 years performance investors have been badly affected in DHA as compared to other societies. One counter-argument can claim that in contrast to the property boom why I am pointing fingers now? Well my response is, at that time as well the prices were artificial due to lack of proper information from these societies. Where the developers develop these societies Investor/ customer is the other & complementary party in this business & hence their rights should also be safeguarded. It is also in the best interest of the developer himself & can eliminate confusion & mistrust.
Take a look at the discussion threads of DHA, especially phases 6 to 10. All calculations have proven wrong & lead us to illusion & doubts. DHA should come-up with some fair announcements regarding these phases to regain investors’ trust & to distinguish itself from other ghost societies. Otherwise investors will keep losing their hard earned in the coming 2/3 years.
Criticism or good suggestions are welcome.
