Saad Rana
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Saad Rana is the complete package. While he and his team produce copious amounts of data and research, what really sets him apart is his thoughtful perspective. Real Estate is a very cyclical business, driven in large part by human emotion and psychology. Saad Rana has the ability to maintain equanimity and to remain balanced and rational throughout the cycle. I can vouch from personal experience over the past 3 years that Saad is incredibly unique in that regard
22/05/2017
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If you have been following Lahore’s real estate market trends, you will agree that Ferozepur Road is brimming with investment activity. Many new housing projects have recently been launched here and the pace of development work in existing housing societies has increased. So what’s going on? Let me tell you.
The latest trend
Investment activity along Ferozepur Road is not bound to a limited area, and property buying and selling is seen in areas as far off as Kasur. According to Lahore Development Authority (LDA)’s 2021 masterplan for Lahore, several patches of land along Ferozepur Road (essentially those that lie between Kahna and Kasur) are marked for agriculture. In other words, the LDA will perhaps not grant approval to new housing societies here; nevertheless, property spanning several acres of land is flipping hands, offering handsome per acre returns to investors – in a rather short term.
Why such robust trade activity?
The under-construction southern loop of the Lahore Ring Road (LRR) has a large part to play in the area’s rising prices. An interchange is being constructed near Gajju Matah, which will decrease the amount of commuting people will have to do by making central parts of the city more accessible.
Ferozepur Road has a better location than other road networks with big projects that can be invested in, i.e. Raiwind Road, Burki Road, Canal Bank Road, etc. . These avenues will also benefit from LRR, but they are found much further away from the city’s main arteries.
The DHA factor
DHA is currently acquiring land for Phase X through its investors. According to my sources, DHA plans to provide an access route to this phase through Phase IX. The chances of Phase X getting an entry point from Ferozepur Road are also high, which could be one of the reasons why land here has seen a sudden rise in demand.
Some valid concerns
The patch of Ferozepur Road that runs onwards from Kahna faces a dire lack of commercial activity. You might find some schools and colleges around Central Park and Grand Avenues, but the area otherwise lacks commercial attractions.
In the coming few years, some societies could change this situation by pumping some commercial action into the area. Model Housing is expected to develop a commercial area of its own, however, the society is still waiting for the LDA to issue it a no objection certificate (NOC).
While the lack of commercial activity is indeed something to keep in mind, investors should think of investing long term here. The reason is that the stretch of Ferozepur Road is seeing a lot of development, and these issues may be weeded out automatically in the coming years.
Final verdict
If you have been advised to invest in land on Ferozepur, you should seriously consider it. However, I would advise you to go by the book and buy property only in housing societies that have an LDA-issued NOC.
Do you have anything add to this article? Feel free to leave a comment below.
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