Lahore Motorway City – Development & Possession Update
As the name reflects, Lahore Motorway City (LMC) is a cooperative housing society located on Lahore Motorway. Rather being on a remote location, project still reserve investment potential for both its development pace and location. Spreading over an area of 20,000 Kanal of land, in which about 2,500 residential and commercial plots ranging in size from 2 Marlas (commercial plots only) to 2 Kanals (residential plots only), LMC consist of five blocks, P, Q, R, S, T, and U. These have been further divided into S Blocks Home (and its own extension) and T-Prime and Trust Prime, both extensions of Block T.
Legal Status of Lahore Motorway City
When it comes to the legal status of LMC, it has some confusion. The housing scheme is approved by Tehsil Municipal Administration (TMA) instead being approved by LDA. It has a genuine reason that when the housing scheme was launched, the area did not fall under LDA, so, naturally, it was not approved by LDA, but by the local TMA as it falls under its jurisdiction. LMC fell under LDA jurisdiction after December 2013. So, the current understanding between LDA and LMC is that since 20,000 kanals of land is already approved by TMA, it doesn’t require the approval of the LDA. However, if and when LMC prolongs beyond that limit, that extension will surely have to get approval by the LDA.
Lahore Motorway City – Development Status and possession Update
LMC has completed all of its development phases and possession is available throughout the project wherever the plots are on-ground (and not in the form of files). Development has been accomplished throughout all of its Blocks P, Q, R, S and T while electricity (underground wiring), water and sewerage connections are also available – the housing scheme is yet to get a gas connection.
Lahore Motorway City – Market Status, Prices and Investment Potential
State of Market has recently affected Lahore Motorway City so the investors have been acting particularly cautious. However, genuine buyers are still keeping the market afloat. Regarding this present situation, prices have got to be stable naturally and haven’t fallen either. Following given price chart shows the current prices of LMC.
Since the market has been stable now, so conditions are not particularly suitable for short-term investment. Additionally, considering the factor of upcoming elections, the prices will remain low in the short term, but if you are looking to make long-term investment, LMC can consider as being a lucrative investment option. LMC offers all elements of a good housing scheme and it just needs to turn the attention towards itself.
If you are interested for a long term investment in Lahore Motorway City or you need further details about it, feel free to contact our realtor and keep visiting Jaidad Group for more real estate updates.