Despite the general perception of real estate being unaffordable for commoners, there are ample opportunities for smart investments if one knows where to look. After all, Lahore is the second most-affordable city after Rawalpindi regarding housing. Even though the average house price in Lahore is rising steadily. It has shot up by more than 30% over the past five years. Nevertheless, it remains much cheaper than other major cities in Pakistan. You can get an excellent two-bedroom apartment in any decent independent house with yard space for less than 5 million rupees. But is that a good option as an investment? To answer that question, here are five of the best investments under 5 million rupees in Lahore:
Park View City Lahore
Park View City Lahore is one of the most significant investments. Suppose you have less than 5 million rupees. There are 36 towers with a shopping center, two hotels, a state-of-the-art clubhouse, and Park-on-Demand technology in this gated community. Restaurants, cafés, grocery stores, pharmacies, banks, and beauty salons are available in the commercial area. The residential towers are designed to international standards of sustainability. The Tree of Life, blending nature and modern architecture, is a gorgeous representation of its Builders. They have been successful in the real estate sector. Apart from being one of the city’s most popular real estate projects, Park View City is also one of the city’s most popular residential projects.
Also read; Popular CDA-Approved Housing Societies 2022
DHA Lahore is one of the best investments in Lahore, under 5 million rupees. It is the largest Defense Housing Authority (DHA) residential project under development in Pakistan. DHA is a public sector organization that builds residential societies for retired military officers. DHA Lahore has almost everything you would expect from a gated community with exquisite architectural design, lush green landscapes, and a well-planned infrastructural layout. With 24 residential and 17 commercial blocks, it provides ample investment opportunities. DHA Lahore is one of the most affordable gated communities in the city. It has a modern healthcare facility, an education zone, a sports complex, and a shopping mall. Although there are many gated communities in Lahore, DHA Lahore is one of the best investments in Lahore for under 5 million rupees.
Bahria Town Lahore
Bahria Town Lahore is one of the best investments in Lahore, under 5 million rupees. The construction at Bahria Town Lahore Phase II and Phase III has been completed and generated a decent rental income for the past two years. This residential project is one of the best investments in Lahore, under 5 million rupees, mainly because it offers ample space for expanding the house when one has a growing family. Bahria Town Lahore has a well-developed infrastructure, with proper water and electricity supply and well-planned landscaping. It is also connected to the city through the National Highway, making it very convenient for the residents to travel to and from Lahore’s various commercial and industrial hubs.
Lahore Smart City
The Lahore Smart City project is a public-private partnership initiative between the Punjab Lahore Development Authority and the Punjab government (Lahore Smart City, n.d.). Lahore Smart City initiative is considered one of the best investments in Lahore for less than five million rupees. The Lahore Smart City project has been developed to generate economic activity and employment and establish a sustainable future for Lahore. Lahore Smart City project Corridor, the Park, the Grid, and the Lake has already operational in phase I. By 2022, the Corridor, the Park, the Grid, and the Lake will be completed. Although the project has not yet begun commercial operation, the rental income is expected to be excellent once it is operational. Besides, it is one of the finest investments in Lahore for less than five million rupees, and it is expected to increase in value over the next few years.
Although many people believe that real estate is an unaffordable luxury in Lahore. For those, there are many affordable options exist. Suppose you have less than 5 million rupees. In that case, numerous gated communities can provide amenities such as shopping centers with stores, cinemas, restaurants, and cafés, among other things. You can always build an independent house with a yard if these communities are unavailable.
Alternatively, you can always buy a plot of land and build a house on it yourself. Although this option is not for everyone, you will surely make a wise investment if you choose to do so.