Courtesy By M.Hassan.
Lake City is one of the most prominent societies of Lahore situated at main Raiwind road near the Shareef Medical Complex. Lake City has been gaining the attention of the investors and genuine buyers since 2015 when Chief Minister of Punjab has announced the commencement of Ring Road Southern Loop. This has increased the interest of the buyers and one of the main reasons behind this is ring road will improve the access of this particular society from different parts of Lahore and suddenly the investors jumped into the market and they started buying plots and files in Lake City. The widening of main Raiwind Road has also diverted the interest of the genuine buyers in Lake City. Therefore, heavy investments were made by the investors in Lake City during the last two years. Ring road always benefits the real estate market and one of the prime examples is phase 5 and phase 6 of DHA. These phases were considered to the flop phases of DHA 15 years back but after the completion of ring road heavy investments were made in DHA phase 5 and phase 6 and now they are considered to be the most expensive phases of DHA.
Near Future Prospect
The most important prospectus of Lake City is that ring road is going to be completed by the end of August 2017 and it will benefit the plot or file holders in Lake City immediately. The price boom is expected in Lake City once the ring road is completed and the general public will start using it. Approximately 90% of the work is completed on ring road and it is expected to be open for the general public by the end of August 2017. I am going to attach few pictures of ring road with this blog which gives a better idea to the readers regarding the current development work on ring road. Now the question arises in the minds of investors that why ring road will benefit Lake City. The answer is simple; the completion of ring road will improve the connectivity of Lake City. Currently it takes minimum 90 minutes to reach to Lake City from Lahore Airport and after the completion of ring road this distance will be only 15 minutes which is a huge benefit.
Living in Lake City
Apart from the ring road factor or the connectivity factor, an important consideration is that Lake City is a very well maintained society which is offering a very good standard of living to its residents. The 24/7 availability of electricity, zero load shedding, impressive security arrangements, beautiful mosques and the presence of well known brands and banks make Lake City attractive for the genuine buyers who are interested in building their houses and wants to get settled down. The management of Lake City is also focused on providing improved level of residential facilities to the residents and the maintenance facilities in Lake City are also excellent. More than 2000 families are living in Lake City at the present moment and many houses are under construction which shows that more families will get settled down in Lake City.
Why to Buy in Lake City ?
Now the most important question arises that what should be bought for investment in Lake City? Even if the society is very good everything should not be bought blindly even in the best society of town. After analysing the market situation and current available options in Lake City, the best thing to buy in Lake City is 5 marla files which are available on instalments. The price of the 5 marla file is approximately 27.5 lacs and the on ground 5 marla plot in Lake City is minimum 35-40 lacs so the so the 5 marla files are more likely to give a better return both in the short and long run. The development is also under process and map is more likely to be released soon which will immediately impact the market in a positive manner.
I am going to attach few pictures with this blog regarding the current update of Lahore Ring road and the glimpse of the residential facilities in Lake City.
For more info, discussion regarding Lake City
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