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.
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