New Lahore City is a state-of-the-art housing project located on Canal Road in Lahore. The society has gained immense popularity due to its prime location, world-class facilities, and promising investment opportunities. In this article, we will discuss the current market situations of New Lahore City, which will include current plot rates and investment potential from buying and selling perspectives.
New Lahore City has a total of four phases, where phase 1 and 2 are fully developed and very much populated. On the other hand, phase 3 and 4 are in the initial stages right now. They are in the development phase, which is going very fast.
Current Market Situation
From buying and selling perspectives, the market condition of phase 1 and 2 is quite low. So if you are looking to make an investment here and earn a profit, that is not a good decision. However, if you want to purchase a home for residence purposes, phase 1 and 2 of New Lahore City are among the top options to consider in Lahore.
The investors tend to prefer the under-development phases of New Lahore City, 3 and 4. This is because since these two are in the initial stage, the prices are quite low. Also, there’s a higher probability of capital gain once the construction is completed. Property prices tend to increase. Most of the buying and selling is seen in the 4th phase of New Lahore City.
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Latest Plots Rates
The plot cutting available in phase 1 and 2 is 3 marla, 5 marla, 7 marla, 10 marla, and 1 kanal.
Phase 1:
- 3 marla plot: 35 Lac to 38 Lac
- 5 marla plot: 45 Lac to 60 Lac
- 7 marla plot: 65 Lac to 80 Lac
- 10 marla plot: 85 Lac to 95 Lac
- 1 kanal plot: 1.40 Crore to 1.55 Crore
Phase 2:
- 3 marla plot: 28 Lac to 38 Lac
- 5 marla plot: 45 Lac to 60 Lac
- 7 marla plot: 55 Lac to 75 Lac
- 10 marla plot: 75 Lac to 95 Lac
- 1 kanal plot: 1.40 Crore to 1.60 Crore
These are the two phases where buyers can start constructing their homes right away after purchasing the plot. Both these phases are already populated with all the necessary facilities available for the residents.
Phase 3:
The plot cutting available in phase 3 is 5 marla, 10 marla, and 1 kanal.
- 5 marla plot: 32 Lac to 45 Lac
- 10 marla plot: 55 Lac to 75 Lac
- 1 kanal plot: 1.15 Crore to 1.35 Crore
Phase 4:
Phase 4, the latest phase of this project, offers plot cutting of 3 marla, 5 marla, 10 marla, and 1 kanal.
- 3 marla plot: 14 Lac to 22 Lac
- 5 marla plot: 20 Lac to 35 Lac
- 10 marla plot: 40 Lac to 55 Lac
- 1 kanal plot: 80 Lac to 95 Lac
Where to Invest?
Despite the current low market conditions of phases 1 and 2, it is worth noting that the prices of plots in these phases have remained stable over the past few years, indicating a positive trend in the real estate market of New Lahore City. Therefore, for those looking to buy a home for residence purposes, these phases are still a good option to consider.
On the other hand, investors looking for capital gains should focus on phases 3 and 4. These phases offer great potential for profit as the development work is ongoing, and once completed, the prices are expected to increase significantly. Moreover, with the increasing demand for modern and secure housing societies, the real estate market of New Lahore City is expected to continue growing.
Conclusion
New Lahore City is a great option for those looking for modern and secure housing societies in Lahore. While phases 1 and 2 may offer little potential for investors, they are still a good option for residence purposes. On the other hand, phases 3 and 4 show great potential for capital gains and should be considered by investors. With the ongoing development work and the increasing demand for modern housing societies, the real estate market of New Lahore City is expected to continue growing in the coming years.
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