New Lahore City, a thriving real estate project, has been a beacon for investors. However, with the upcoming changes in development, possession, and category charges, investors need to stay informed and proactive. In this blog, we will explore these changes and their impact on property investment.
New Lahore City Development and Possession Charges
Development and possession charges are fundamental aspects of buying property on instalments. They ensure the proper infrastructure development and secure possession of your investment. New Lahore City has recently issued a notification, signaling an increase in these charges starting November 1, 2023. To secure the current rates, investors are advised to make their payments before this date.
New Lahore City Current Charges
As of now, in Phase 1 and Phase 2 of New Lahore City, the possession charges are set at 50,000 PKR per marla. Phase 3 has possession charges of 10,000 PKR per marla, while Phase 4 has 15,000 PKR per marla charges. Map designing charges for 3 marla plots are estimated at 65,000 PKR, for 5 marla plots, they range from 1 to 1.25 lac PKR, and for 10 marla plots, they stand at 1.8 lac PKR.
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Impact on Property Prices
These changes in charges will undoubtedly have an impact on property prices. For investors who have not yet paid these charges, there’s an urgency to settle them before November 1 to secure the current rates and avoid the impending increases.
Stay Informed with CDB Properties
To navigate these changes, stay informed, and make well-informed decisions about your investments, don’t hesitate to contact CDB Properties. We are here to provide you with comprehensive details and guidance, ensuring that your investment remains secure and profitable.
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