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Spanning 61,000 kanals, LDA City is claimed to be largest housing project in Punjab. When it was launched many people rushed to buy plot files. However, later on they alleged that the Lahore Development Authority (LDA) and the development partners of LDA City sold more files than the land they acquired for the project.
Considering these allegations, the National Accountability Bureau (NAB) started to scrutinise LDA City and directed the civic authority to upload records to the LDA’s website.
If you, too, own an LDA City plot file, you can check its status here.
Upward ascent of rates
File prices have witnessed a slight jump in the recent past. Perhaps investor sentiment about the project is regaining its lost sheen or the development of the Lahore Ring Road is luring in investors. Another reason could be a recent newspaper article claiming that NAB has declared LDA City a transparent project. But personally, I believe LDA City is a long-term project and its investors will most likely be able to bag good returns in just the longer run.
As we know, many people are still interested in the project because of the affordability factor attached to it. File prices in LDA City are pretty low at the moment. Please see the table below to get a better idea of the market value of files these days:
|File Category||5 Marla||10 Marla||1 Kanal|
|Price||PKR 1,050,000||PKR 1,700,000||PKR 3,000,000|
Now the question is: will prices continue to follow this trend? This is hard to answer, as it depends on the LDA’s next few moves.
According to sources, development partners of the project have already transferred 10,000 kanals of land to the LDA, and now the authority will pursue the land acquisition process itself.
To invest or not to invest?
If the LDA makes some official announcement about land acquisition and about NAB’s clearance of the project, investors will certainly come back to the project. Sale-purchase activity is slow these days and people are probably waiting for groundbreaking to take place, which is expected next year.
Although prices are increasing in LDA City these days, I would suggest you wait and watch for a month or so. Keep a keen eye on price trends to make an informed investment decision, especially if you want to invest here for the short term. And if you plan to invest for the long term, you can jump in right now and reap the benefits in the future.
That’s all I have about LDA City for the day. Let’s discuss the project further in the comments section below.