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Think before buying: DHA Lahore Phase VII 5-marla plot files

Posted by mimran on March 21, 2017
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Defence Housing Authority (DHA) Lahore Phase VII is one locality that investors tend to keep a sharp eye on, which is why when news that 5-marla plot files were available hit the market, I knew I had to write about it. This is not the first time news about such property has flooded the market, what is weird though is that they are being marketed by a private real estate firm at a cost higher than the original market rate.

A few days ago, a private real estate firm advertised the availability of 5-marla affidavit files in Defence Housing Authority (DHA) Lahore’s Phase VII. The tone of the ad suggested that these files are perhaps newly launched and being offered at rates so tempting that only a limited few buyers would be lucky enough to get their hands on them. This has led to many people rushing to get their hands on some of these files.

However, these files have been in the market for a while now, and if my estimation is correct, only 500 of them were made available. Many of these files are located in Sector T and some in Sector U. According to details, these files have been launched from time to time in the past. Some months ago, these files experienced impressive trade activity and their market rate went as high as PKR 4,300,000. A few months after that, their demand dropped once again. The lowest rate registered for 5-marla plot files in DHA Lahore Phase VII was PKR 3,200,000.

DHA Lahore continues to acquire more land through its investors for Phase VII and releases new files. The files offered at higher rates could possibly be the newly launched ones. This could be the reason that the prices are different. However, no one should invest without doing their due diligence and research.

According to my sources, the 5-marla affidavit files have a market price of PKR 3,825,000 million while that of the files offered by the marketing firm is PKR 4,000,000 plus 10,000 (the registration fee). I don’t see any reason why buyers should purchase them at PKR 4,000,000 when the same files are available at cheaper rates.

It has lately been observed that it were mostly investors who helped property trade volume go up in Phase VII. Otherwise, the phase apparently doesn’t attract genuine buyers and that’s despite the fact that property rates here are cheaper than that in Phase VI and VIII.

At the moment, you can find both affidavit and allocation files in the market, with later being sold at PKR 3,775,000. The question remains, should you sink your teeth into this option?

Should you invest in these files?

To that, my answer is yes. First because the average price of a 5-marla residential plot in Block T is PKR 5,850,000. There is a price appreciation margin of at least 50% in these affidavit and allocation files. From the perspective of a short-term investment, the expected price appreciation isn’t bad at all.

In addition, it is expected that balloting for these files will be held in September this year. By then, their value would go up by another million rupees.

Furthermore, Sector T and U have seen good development, with road infrastructure in place and provision electricity, water and gas ensured. So soon after the ballot is held, DHA would be in a pretty good position to handover possession.

My only recommendation is to not spend a penny more than the current market rate for these files. If you have any questions, feel free to use the comment section below.

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