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Low-budget housing projects in Lahore

Lahore’s property market is versatile to such an extent that it can easily address the housing needs of a whole host of income groups. Where on the one hand it offers high-end housing options to the city’s elite in the likes of Defence Housing Authority (DHA) and many other similar upscale projects, on the other hand itis full of affordable options in a number of housing projects such as State Life Housing Society, Bahria Orchard and Sui Gas Housing Society.Let’s discuss these three options in more detail.
State Life Housing Society
State Life Housing Society enjoys an excellent location because it is situated along the Lahore Ring Road, but it still offers plots that are within reach for many buyers. According to data from Zameen.com, Pakistan’s largest property website, the average sale price of 1-kanal plots in Phase I of the locality hovers around Rs 9,850,000, which is relatively low compared to the value of same-sized plots in the developed phases of neighboring DHA.
Phase II of State Life Housing Society is even cheaper, with the average value of 1-kanal plots currently at PKR 2,838,328. This is also because Phase II is currently under development and does not offer possession yet.
Though State Life Housing Scheme is a medium-budget housing project, this does not mean property investors have not been able to realise sizeable returns on their investment here. According to Zameen.com’s stats, the sale price of 1-kanal plots in Phase I of the society increased 11.73%from June 2014 to May 2015.
Bahria Orchard
Bahria Orchard is another prominent residential development that addresses the housing needs of the middle class. Located only a few minutes’ drive from ThokarNiazBaig on Raiwind Road, Bahria Orchard is nestled in a natural environment boasting neat arrays of fruit trees, but still remains an affordable address for homebuyers.
According to Zameen.com’s data, the average value of 1-kanal plots in Bahria Orchard lingers around PKR 8,216,667 at the moment. According to the website, these plots were valued at PKR 7,500,000 in June 2014, which means they have gained 9.55% in value over the course of a year.
Sui Gas Housing Society Phase II
Sui Gas Housing Society Phase II is a noteworthy low-budget housing scheme that attracts the attention of investors and genuine buyers alike. Though the society is located in the city’s outskirts, its affordability makes it one of the most sought-after addresses in the city.
Given that it is currently under development, the average sale price of 1-kanal plots in the locality have dropped 6.54% since June 2014, but are expected to pick up in the near future after the completion of expansion work currently being carried out on Raiwind Road. One-kanal plots in the locality cost PKR 3,734,091 on average in the current scenario, making it one of the most affordable residential projects in Lahore and perfect for medium- to long-term investment.
Lahore’s property market is well-known among homebuyers as well as property investors for offering a range of options, but if affordability is what you are looking for, you should consider the three housing societies discussed above.

 

 
 
 
 
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