Bahria Orchard Lahore Update
Bahria Orchard lahore is the most promising society on Raiwind road lahore.Today we will focus on the current trends of the market and price hikes over a period of time.
Bahria Orchard Phase I
Bahria Orchard Phase I is totally developed with possession of almost all plots. It is one of the most popular phases among the genuine buyers. Current market trends revealed that the society currently has only genuine buyers and no short-term investors. This also accounts for the less than stark appreciation in rates in the project.
Bahria Orchard Phase is inhabited by 30%, while many houses here are under construction. The phase is also ripe with builders eying the market for eager end users. Please note, Bahria Orchard Phase I Extension, which features 8-marla residential plots, hasn’t yet been approved by the LDA, but this approval can be expected to happen.
Bahria Orchard Phase II
Development work here has been completed by over 95%, as some land in patches is yet to be acquired. Our sources have revealed that land for some streets and lanes in many blocks of Phase II is yet to be purchased. The phase is inhabited by 20% and is a little more popular than Phase I as it is comparatively cheaper and features related commercial facilities.
Bahria Town launched 5-marla plots on instalments in extensions of Overseas Low Cost (OLC) Block A and OLC Block B this month. The deal also evoked the interest of many buyers, so much so that all 350 plots have been sold out. These are now available in the secondary market on premiums ranging between PKR 100,000 to PKR 500,000. Development work is also underway to develop these plots, as possession is promised to be granted by June 2019.
Bahria Orchard Phase III
This phase features only 8-marla plots. The phase interested investors during the first 6 months of its launch, but this interest subsided with investors taking the backseat and genuine buyers getting on the Due to robust investment activity seen in the past, property rates here are compatible with those of plots in other two phases. The interesting thing to note is that, rates haven’t really plunged in the absence of demand. That’s despite the fact that Phase III is 100% developed with possession throughout the phase.
No new deal is expected for this phase as it is land locked. So far, no houses has been constructed here as the phase is also deprived of any commercial or recreational facility. Compared to the rates recorded back in August 2018 and featured in the blog on our previous Bahria Orchard blog, rates have gone up nonetheless.
Bahria Orchard Phase IV
Phase IV has been developed by 50%, while the pace of development work on the remaining part is somewhat slow. Our sources claim that Bahria Town has so far been able to purchase only 75% of the required land for this phase, which is also the reason why property rates here are in negative values for some blocks.
The blocks cleared from any litigation issues include Blocks G-1, G-2, and G-3, while the developer has purchased land in patches for Blocks G-4 and G-5. No land has so far been purchased for Block G-6. According to the payment plan shared for plots in Bahria Orchard Phase IV, three more payments are due.
With genuine buyers keenly looking at developed and inhabited phases of Bahria Orchard, stable price appreciation in price of property appears indispensable. If you are also eying the society for personal use, better not delay buying plot here.
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