Real estate agents in Lahore also staged a protest on 24th October against property taxes however there is no positive outcome as of now. Thousands of protesters, representing different dealers and property agents association of the city, launched a protest rally from DHA which concluded on The Mall. Although we are hearing from our sources that Government is considering to be flexible about the taxes imposed earlier , however there is nothing solid as of now.
Because of the property taxes DHA Phase 9 prism has undergone a lot of correction since July, both residential and commercial plots are down trending as of now . Real estate agents are worried that it will go down further, i personally feel that it will be worth to buy good plots in Phase 9 prism between 85 to 100 Lacs , but we may have to wait a bit more to find good plots in that price.
There is an opportunity in every crises.
I believe that even if the real estate gets relief in terms of Taxes, 9 prism will continue its down trend for some time till it reaches near its genuine prices. The price inflation we saw in 9 prism before July 2016 was merely an investment bubble . Yes there is a possibility of these bubbles to form again in future and which will bring a lot of opportunity for clever investors.
I will strongly advise to be careful when that happens and consult us before you invest.
Would you please clarify and explain little more on following” down trend for some time till it reaches near its genuine prices” especially what you meant by genuine prices. As per your experience and calculation what is the genuine price of 5/10 and 20 marla in prism.
- When i say genuine prices it does not mean that they are achievable , some times investors can keep a commodity above its actual values just by the sheer size of investment. I believe that the genuine price for 5 Marla should be 35 Lacs , 10 Marla 55 Lacs and 1 Kanal at 90 Lacs. Now these are average prices for an average plot and the actual price of some plots may be higher because of location , corner , facing park etc. So if the average prices reach our targets than one should must buy them. We are also waiting for them to reach as low as possible before we start investing in 9 prism again.
- Thanks for reply are you considering 35/55/90 with or without development charges
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