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DHA Lahore Phase 8 Market Trends and Demand | A look at Property Rates In Each Block

It is the most prime of Defence Housing Authority’s phases in Lahore in terms of its location. It is also huge as it comprises two independent real estate developments that were acquired by DHA some years ago due to their proximity with Phase VIII proper. With development work completed in over 60% of the area with property possession available, the phase is deemed perfect by the end users looking to construct their homes right away. Here is the latest update on the phase.


Market trends and demand


Phase VIII is the most popular of all DHA phases in Lahore among buyers looking to buy a plot. this stands true as the end user find the options here quite attractive. Prices here experienced a drop in the absence of demand some months ago due to the prevailing market situation.


In addition to being popular among end users, Phase VIII is also seen as a potentially rewarding place to buy residential plot if some options are available at rates lower than the market price. So some investors here are often on search of such options. Maan believes that if the exemption granted to non-filers for buying property more expensive than PKR 5 million stays intact, investors of Phase VIII could reap benefits.


The decision was welcomed by the real estate sectors because this exemption signals resumption of investment activity, which in turn will increase the revenue for the government in the form of property taxes.


A look at property rates in each block


Since Ex-Air Avenue and Ex-Park View were not originally developed by the DHA, demand for plots in these blocks (Ex-Air Avenue comprises Blocks A – K, while Blocks L – R are part of Ex-Park View) is comparatively lower. Here are the price ranges of plots in Ex-Air Avenue and Ex-Park View:


Plot size

Price range in PKR

Ex-Park View

10-marla

13,500,000 – 155,00,000

Blocks A – K

1-kanal

17000000 – 26,000,000

2-kanal

32,500,000 – 60,000,000

Ex-Air Avenue

10-marla

11,000,000 – 14,000,000

Blocks L – R

1-kanal

14,000,000 – 22,500,000

2-kanal

32,500,000 – 40,000,000

Block S


The block is located on the Barki Road side, where it also has one of the society’s main entrance. But it is considered a little off side from rest of the blocks, which are located closer to interchanges of Lahore Ring Road. It is shares a boundary with a local settlement, which DHA may or may not acquire in the future.


Plot size

Price range in PKR

1-kanal

12,500,000 – 21,000,000


Block T


The block has a land pocket and some plots here are also in litigation. But buyers shouldn’t worry about it as DHA doesn’t let litigated plots get transferred. Some plots here are considered prime as these are located opposite the most expensive and prime Phase VIII block i.e. Block W, explaining the high rates of some plots .


Plot size

Price range in PKR

1-kanal

15,000,000 – 30,000,000


Block U


It shares a boundary with a local settlement, plus a high-tension wire also passes close to it, making half of the block somewhat less desirable for prime buyers. The other half is deemed perfect as the phase’s biggest park comprising 135 kanals is located in Block U.


Plot size

Price range in PKR

1-kanal

15,000,000 – 30,000,000


Block V


Located close to Block U, Block V also faces the issue of high-tension transmission lines. In addition to that, this block also has a graveyard. But because of its proximity to the Block U’s park, some plots here are considered highly desirable.


Plot size

Price range in PKR

1-kanal

13,000,000 – 27,500,000


Block W


It is the most prime of all blocks in Phase VIII as it has no land pockets and no graveyard. In addition to that, two of the major boulevards of the Phase VIII and Phase VI are connected to it. Furthermore, Block W is also located in the centre of Phase VIII


Plot size

Price range in PKR

1-kanal

25,500,000 – 32,500,000


Block Y


It is located on the other side of Lahore Ring Road near Nawaz Sharif Interchange and somewhat detached from rest of the phase VIII. Here, property possession is available for 1-kanal plots only while development work on 5-marla, 8-marla and 10-marla residential plots is yet to be completed.


Plot size

Price range in PKR

5-marla

4,000,000 – 6,500,000

8-marla

6,500,000 – 8,000,000

10-marla

7,500,000 – 11,000,000

1-kanal

14,500,000 – 30,000,000


Block Z


Also known as Ivy Green, Block Z is located on Barki Road opposite Block S. It comprises seven blocks, i.e. Blocks Z, Block Z-1, Z-2, Z-3, Z-4, Z-5, Z-6. In terms of plot sizes, options available here are somewhat more accommodating. Buyers here can pick between residential plots in sizes of 5-marla, 10-marla 1-kanal and 2-kanals. Development work in this block is underway.