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Grand Avenues Housing: Condition at End of This Year’s

Grand Avenues Housing: Condition at End of This Year’s

Grand Avenues Housing: Condition at End of This Year’s

Grand Avenues Housing Scheme, located on Ferozepur Road, started its Phase II with the new Sector C as a part of it a scarce more than a year ago. So how do things survive in the project at the end of 2019? Here’s your latest update from the housing scheme as it occupies currently:

Commencements of development and land recovery

According to the on-ground sources surveyed, finally, there has done some improvement in Sector C, the office of the society was shifted towards the sector, and the policy towards the sector was also made. But the development is still the smallest. According to Muhammad Altaf of Al Rafay Associates, some of the land for the block has been received while the remaining is being obtained.

Map approval by LDA

When, on the map approval front, Lahore Development Authority (LDA) is still to approve the maps for all three sectors of the housing scheme. LDA map endorsements for old sectors had earlier run into delays because of minor land procurement issues.

Now, yet, the society is adjusting people whose plots had come into areas where land appropriation had been a matter and land is being taken for Sector C. So, the formalities for the map approval of all three blocks are being filled. Yet, no verified date can be provided for when the approvals will be concerned.

Market Trends

According to the experts surveyed that prices have been slightly decreasing in Grand Avenue Housing Scheme. The prices currently stand as regards:

Size of Plot Price in PKR
Residential Plots
05- Marla 2,000,000—2,700,000
10- Marla 3,300,000—4,200,000
01- Kanal 5,500,000—6,500,000
Commercial Plots
04- Marla 7,500,000—8,500,000

According to the experts, the condition is fixed to continue until the housing scheme makes the gas connection. However, the attraction of prices can be exacted after that. Possession is available in parts of Sectors A and B, so the situation can also be exacted to significantly better once the construction of houses has started.

What should the investors do?

The best way would be to keep your investment for a little sustained, till the map makes approved and construction starts. The Southern Circle of Lahore Ring Road benefits the housing scheme and so will DHA Phase X. The best news for those who have already invested in the housing scheme is that the society may become gas by March next year, which will mean that the prices will go upwards then too and you strength want to hold on till then.

For those investigating to invest, Altaf recommended that the project can be estimated for long-term investment. Any such investment will have to cross between two to three years. A lot depends on the construction of the houses in the project, and people living in them, for which no clear timeframe could be delivered at this point.

Have you invested in Grand Avenues Housing Scheme? Do you have any inquiries about it? You can communicate with us in the comments segment.

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