The Defence Housing Authority (DHA) has offered a whole host of investment avenues across the country. Although a couple of its projects are on the rocks at the moment, we are hopeful the authority will find a way out of the problems soon.
DHA’s Lahore chapter is truly an investment haven for both local and overseas investors and Prism 9 (Phase IX) is one of the most sought after addresses in DHA Lahore these days.
The good news is that DHA has planned to start development work in Prism 9 on February 8. This news will most likely create an impetus for a sudden price jump in the locality.
In a previous advert, the authority had mentioned ‘fast track development work’ as one of the features of Prism 9. This announcement about the commencement of development work clearly indicates that DHA has lived up to investor expectations.
Before you get too excited, please remember that you have to pay development charges now. These depend on what kind of plot you own. To have an idea of what you have to pay, please see the table below:
Plot size Plot type Development charges Instalment period
1 Kanal Residential PKR 1,950,000 3 Years
10 Marla Residential PKR 1,300,000 3 Years
5 Marla Residential PKR 900,000 3 Years
8 Marla Commercial PKR 3,750,000 3 Years
4 Marla Commercial PKR 1,950,000 3 Years
Prism 9 has been performing notably well since its inception. Now that DHA has allotted plot numbers here, the value of plots (both residential and commercial) varies as per location.
According to Khurram Khan of Property Guide Real Estate, the following table depicts the range of market prices for different plot categories in Prism 9 currently.
Plot size Plot type Market price range
1 Kanal Residential PKR 5,500,000 to PKR 11,500,000
10 Marla Residential PKR 4,000,000 to PKR 5,500,000
5 Marla Residential PKR 2,300,000 to PKR 3,600,000
8 Marla Commercial PKR 37,500,000 to PKR 40,000,000
4 Marla Commercial PKR 17,500,000 to PKR 20,000,000
Is this the right time to invest?
From where I see the market, I think this is the right time to invest in Prism 9 because property prices in the locality will surge when development work starts and will continue to register growth as the development progresses.
Prism 9, walled and gated, will be the largest phase connected to the main avenues. It will feature 16 sectors, civic zones, malls, universities, hospitals, water theme park, polo club, event complex, convention centre, dual water supply system (portable and utility), shaded walkways, bicycle tracks, 24/7 security, monuments representing all the provinces of Pakistan and many other amenities.
With all these features, we can safely say that Prism 9 will be a city within the city, so investors should savour this latest news.
And that’s all I have on Prism 9 for the day. If you have any queries in mind, please feel free to converse with me in the comments section below.
Good luck to all investors and prospective homeowners!