The Defence Housing Authority (DHA) is shortly expected to start the development work on the Prism 9 DHA Phase 9 Lahore project.
DHA has already provided a range of investment opportunities across the country with DHA Prism 9 expected to be the largest phase of the entire project. The Lahore chapter provided by DHA has given foreign and domestic investors a perfect chance to get access to some of the finest real estate in the DHA Lahore district.
The planned commencement date for the work to start on Prism 9 (Phase IX) is February 8th, 2016. After giving the announcement of this news it is expected a price jump in local addresses is virtually guaranteed. The time-frame to complete DHA Prism 9 is expected to be in the region of 3 or 4 years.
Prism 9 DHA Phase 9 Lahore is reported to be the largest stage of the project in DHA Lahore and estimated to take up to 40000 Kanals of land, which is planned to give space for 2,000 commercial units and 20,000 residential units.
This development is planned to include a long list of features with state-of-the-art infrastructure of roads, a business convention centre, Dolphinarium, underwater zoo, amusement centre, golf course, many parks, mosques, civic zones, and much more.
DHA had previously said it aimed to fast-tract the development work to make sure the development was attractive to investors, and they have clearly been able to live up to this promise.
Charges that must be met by the owners of the plot files include development charges, which must be paid now and due in quarterly instalments. The amount to pay varies with the plot size and plot type.
For instance, a 1 Kanal plot size for a residential unit incurs development charges of PKR 1,950,000 over a 3 year instalment period, while an 8 Marla plot size of a commercial unit incurs development charges of PKR 3,750,000 with the same instalment period.
The Prism 9 DHA Phase 9 Lahore has a very attractive location which means it has the potential to attract very high prices when complete, and more than any of the other development phases.
The market value of the commercial and residential units will vary with the different locations. The prices currently being reported in the Prism 9 phase range from PKR 5,500,000 to PKR 11,500,000 for a 1 Kanal residential unit, PKR 4,000,000 to PKR 5,500,000 for a 10 Marla Residential unit, PKR 2,300,000 to PKR 3,600,000 for a 5 Marla residential unit, PKR 37,500,000 to PKR 40,000,000 for a 8 Marla commercial unit, and PKR 17,500,000 to PKR 20,000,000 for a 4 Marla commercial unit.
For those wondering whether or not to invest in Prism 9 DHA Phase 9 Lahore, many experts believe now is the right time to invest because they believe the market value will see a surge in value once the development work is in full flow.