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Lahore Real Estate Forum: Property News & Community Talk : ,

(68845)
Monday, November 21, 2011 02:30 PM 

Can somebody with market knowledge and well reputed like CMY, CDW or Hussain Kaisrani sahib shed some light on the existing status of phase 5 extension plot balloting in December?
Curiosity of people are building as the month approaches but we should at the same time be ready for practicalities and its much better to know the ground realities, whether they go in our favour or not.
So i am just writing to ask people sitting in the market about the existing situation. And if there are any chances of further delay then what are the reasons behind it?
From what i can see they cannot delay it any further due to the following major reasons;

1. A major ballot for a big phase or part of it is long over due which DHA cannot postpone any more as army personnel need to be alloted plots immediately and that demand cannot be satisfied by Askari housing in lahore only.Hence, ballot of phase 9 is bound to happen next year.
Now, there is no way that phase 5 extension balloting can be left out with phase 9 ballot so close in sight.
2. All the major hurdles that delayed phase 5 extension ballot like phase 5 interchange and Askari housing allocation in that phase have been removed now.

So i am trying to find the logic which might delay this ballot further and i can't find any.
Would love to have people's views on it.

PS: A lot of messages on this topic by various people have gone unnoticed the last few weeks so would appreciate a detailed discussion on this issue.

Regards

MS replied on Monday, November 21, 2011 05:07 PM 

Dear Faisal, DHA has many plots in dha phase 6,phase 7 and phase which are still belong to DHA .They are not allotted to anyone.DHA can accommodate army personnel there, its not big issue for DHA.You can see in lre rates updates dHA phase 6 and phase 7 allocation files still availabe for buying and selling Although DHA Phase 5 Extension is not a big deal for DHA , it is only one block .They can do it tomorrow but i wonder why they are delaying it unnecessarily. Same issue with park view files.We dont know Up till now where is exact location of park view files.so far what i did understand right now, but i m not sure, If DHA announce ballot of DHA phase 9 today, DHA phase 7 is going for disaster only because of his location.

JUJ replied on Tuesday, November 22, 2011 10:42 AM 

I agree with MS. It will be cruel to Phase 7 to ballot phase 9 just now. Because of its distance, Phase 9 will overtake phase 7 and Phase 7 may remain deserted for long time. So dha will wait until complete handover of all sectors in phase 7 and house building activity like Phase 6 is started before doing ballot of phase 9.

Common Sense replied on Tuesday, November 22, 2011 12:21 PM 

Currently phase 9 is Favourite Phase of DHA administration + GHQ high ups as plots are alloted to Shuhada in DHA 9. Also Askari 11, DHA 5 Extension, and Aashiana housing scheme are situated on DHA phase 9 land. Currently DHA and GHQ high ups are showing a lot of interest in DHA 9 and they want to develop whole of it much sooner than previously expected. Once developed due to its better location its price will be more than best plots of DHA 7.

People are now realizing that DHA 9 development is already under progress in blocks A, B, C and D.

10 Marla plot in DHA 9 costs 35 Lacs. Excluding 5 Lacs dev. charges consider 10 Marla plot in DHA 9 is valued at 30 Lacs as of today excluding dev. charges. How can one kanal remain at 20 or 21 Lacs. This is the big discrepancy that is filling the gap now.

DHA 9 One Kanal excluding dev. charges should be = 1.5 X 30 Lacs = 45 Lacs as of today. That is where it is going. It may take few months or few years to reach its worth but it is currenly worth at least the double of todays price. Ultimately it will catch up to its actual worth.

Try to stop it if you can.

Real Esate upward trend/cycle and genuine recovery in Pakistan started about an year ago after 6 years break in general, and usually this growth period lasts at least 5 years.

That is not to say there wont be any dips in price but any dips will prove to be buying opportunity for buyers, just like there were dips at 18 and then 19 Lacs. Now the price of 18 Lacs seems cheap. When it will reach 25 Lacs price of 21 will seem cheap and at 45 Lacs price of 25 will seem cheap, just like DHA 5 Extension seemed worthless and expensive at 22 Lacs and now at 35 Lacs price of 22 or 25 seems so low.

Khan replied on Wednesday, November 23, 2011 04:26 AM 

Dear Common Sense

I appreciate your approach to analyze DHA 9 but majority does not understand these points. Although CMY sahib has explained these facts.
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