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Long-term investors flock to DHA Lahore Prism 9

Posted by mimran on April 4, 2017
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People who follow the real estate sector know that Lahore has been inching up and down in terms of prices, but has stayed largely stable in recent months. Short-term investors took a backseat after the tax implementation last year, and the market has not been the same since. On the other hand, long-term investors are not just active, they are in some ways keeping the market stable – and that is where DHA Lahore’s Prism 9 comes in.

Development status

Considering the fact that Prism 9 is so far the largest of all DHA Lahore phases, it will take a while before DHA is ready to offer possession here. Some experts believe that DHA can offer partial possession in the next five years, while others believe that the timeline maybe longer.

Short-term investors are not currently eyeing the phase because it is still in its development phase. Moreover, development isn’t actually taking place at a fast enough speed, which is why if you are thinking of putting your money into the project, you should know that you will be doing it long term.

At this moment, development work is ongoing on the main boulevards and road avenues, but a lot still needs to be done. Those looking to see the impact of development work on property rates in this phase might need to wait a bit.

Market rate

Prism 9 mostly features a good number of 1 Kanal Residential ; 10-marla, 5-marla and 2-kanal plots are available but not in high numbers. In fact, Blocks J, H, K, L and R, are the only places where you can even find these options; all other blocks offer 1-kanal plots.

In terms of returns, 5-marla plots in Prism 9 are still the most attractive option, but limited availability has pushed many investors to look elsewhere. The average rate of 1-kanal residential plot in Prism 9 is PKR 104 million and that of 10- and 5-marla units is PKR 6.9 million and PKR 3.8 million, respectively. If you compare these rates with other more developed DHA phases, you will find a huge difference.

According to  recent Market Report, the average sale price of a 1-kanal plot in developed DHA phases is PKR 24 million, and that of a 10-marla plot is PKR 15.2 million.

Check out what plots cost in different Prism 9 Blocks here:

BlockPlot SizePrice Range
A1 KanalPKR 9,500,000 – PKR 14,000,000
B1 KanalPKR 8,000,000 – PKR 12,500,000
C1 KanalPKR 8,000,000 – PKR 13,500,000
10 MarlaPKR 6,000,000 – PKR 7,500,000
D1 KanalPKR 7,500,000 – PKR 14,000,000
2 KanalPKR 24,500,000 – PKR 28,000,000
E1 KanalPKR 7,500,000 – PKR 13,000,000
F1 KanalPKR 8,500,000 – PKR 13,500,000
10 MarlaPKR 6,500,000 – PKR 8,000,000
G1 KanalPKR 8,000,000 – PKR 12,000,000
H1 KanalPKR 7,500,000 – PKR 13,000,000
J10 MarlaPKR 6,000,000 – PKR 7,500,000
5 MarlaPKR 3,200,000 – PKR 4,500,000
K1 KanalPKR 8,000,000 – PKR 11,500,000
10 MarlaPKR 5,500,000 – PKR 7,000,000
5 MarlaPKR 3,200,000 – PKR 4,500,000
L1 KanalPKR 7,500,000 – PKR 13,500,000
10 MarlaPKR 5,500,000 – PKR 7,000,000
5 MarlaPKR 3,200,000 – PKR 4,200,000
M1 KanalPKR 7,500,000 – PKR 12,000,000
N1 KanalPKR 7,500,000 – PKR 12,000,000
P1 KanalPKR 8,000,000 – PKR 13,000,000
Q1 KanalPKR 8,000,000 – PKR 14,000,000
R1 KanalPKR 7,500,000 – PKR 11,500,000
10 MarlaPKR 6,000,000 – PKR 8,000,000
5 MarlaPKR 3,200,000 – PKR 4,500,000

 

One-kanal residential plots are the most popular option in DHA developments, and have seen a higher demand, which is why investing in these plots is recommended.

Remember this: while picking a plot solely for investment purposes, you can compromise on the location only a little bit and that too if you have budget constraints.

Does the Lahore Ring Road matter?

Some Blocks will give you better returns in the long run because of their location and proximity to the Lahore Ring Road (LRR). While the route isn’t going to matter much at the moment because people don’t currently live in Prism 9, it is going to cause price hikes of as much as 10% to 15% for the locality once LRR is inaugurated in August. Anyone claiming that price hikes could be more than this is not giving you the full picture – or perhaps doesn’t have the full picture to begin with.

If you want to invest in the short term and profit from this 15% gain then go for Blocks H, F, K and J, since they all lie close to LRR’s under-construction interchanges.

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