Model Housing Lahore – A Good Investment Option?
Model Housing is a standout amongst the most discussed housing schemes in Lahore nowadays.
Despite the fact that the society is yet to be launched officially, its developers have just conceived a fantastic development plan that awaits endorsement from the concerning authorities.
The real estate agents, who have had an opportunity to work with Citi Housing ventures in Pakistan, are seen advertising this project extensively.
If you are wondering about the connection between Model Housing and Citi Housing, let me disclose to you that the previous project director of Citi Housing now fills in as the CEO of Model Housing.
Would it be a good idea for you to invest in Model Housing? Read on to discover.
Read also: Bahria Garden City Victims – What Now?
Location And Project Size:
Model Housing is situated on Ferozepur Road, near Gajju Matah and opposite Grand Avenues Housing Scheme.
As indicated by sources, the developers have procured more than 100 sections of land for the venture and they intend to build up boundary wall around it.
on the hand, there are bits of gossip in the market that more than 250 sections of land have been acquired for the scheme.
This uncertainty is one of the reasons why investors are hesitant to in Model Housing.
Application Forms And Marketing:
The developers began the promotion of Model Housing about a year ago through billboards.
Because of their solid promoting message and the fact that some renowned names from the business are involved in the project, application forms for Model Housing Lahore were sold within a small timeframe.
However, soon after this, the Lahore Development Authority (LDA) declared this project illegal due to the fact that the society management had not gotten a no-objection certificate endorsement (NOC) from the concerning authorities.
The NOC Issue:
The illegal status of the Model Housing is likely to change in the near future, as the LDA has granted its endorsement towards the development of the society.
The Lahore Electric Supply Company (LESCO) and Water and Sanitation Agency (WASA) have additionally granted conditional approvals for water and power supply in the Model Housing.
As per an official statement, the developers will soon be in a position to initiate development work at the site.
What Model Housing Has To Offer?
- 3,5,8,10 Marla and 1 Kanal residential plots
- The installment plan spans over three years
- Application forms are available
- The price paid for a form will be adjusted in the total price of the plot
- Currently, the form of 5 Marla plot is available at PKR 350,000
- 8 and 10 Marla plots’ forms are priced at PKR 550,000 and 650,000 respectively
Here’s the price breakdown of all the plot categories available:
- 3 Marla: Total price PKR 1,650,000 | Booking amount PKR 250,000
- 5 Marla: Total price PKR 2,450,000 | Booking amount PKR 350,000
- 8 Marla: Total price PKR 3,650,000 | Booking amount PKR 550,000
- 10 Marla: Total price PKR 4,450,000 | Booking amount PKR 650,000
- 1 Kanal: Total price PKR 1,650,000 | Booking amount PKR 1,250,000
It’s too early to say whether the project will be a success or not, but the way it has been planned does have the capacity to deliver what its promising. So before you plan on investing in the society, I’d recommend you to adopt wait and see policy until things become clearer.