Lahore and the Growing Need for Housing Solutions
Lahore is a melting pot of diverse cultures and socio economic sections residing together. As the prime urban center of the most populated province of Pakistan, Lahore has always also been the center of rural to urban migration. Hence a massive number of migrants come and settle into the city, and this number has been growing year after year. What has resulted from this trend is the expansion of the city with new settlements forming at every corner of Lahore. This rapid expansion has put an immense pressure on the city to sustain under the growing needs if its population.
This fact also sheds light on the growing need for housing infrastructure in the city. The trend of growing population has led to a shift in the forces of demand and supply for housing and real estate in Lahore. Where the demand for quality housing has seen an upward trend, the supply is slow to match this need and the result hence is a shortage and high prices. Both the public and private sectors seem to have failed in providing solutions to meet the challenge of the rising population. Housing societies in Lahore seem to be going big with massive expenditure on advertising their features and amenities which includes plots on installments with attractive payment plans and various infrastructural facilities. However, on closer inspection, we find that many of these ventures are not LDA approved and hence the development for these projects is halted or is progressing at a very slow pace.
The question remains; with such few reliable investment opportunities in real estate in Lahore how do we resolve the bigger problem of quality housing solutions for a growing population in Lahore? The solution lies in researching and opting for those housing societies which are not just actually LDA approved but can be traced back to reliable business establishments with a sound business track record in the industry. As to the factors of affordability, it is true that prices of residential plots in Lahore are seen to be skyrocketing in the recent times, and reliable and quality housing projects are becoming inaccessible for the common man. However there still are a handful of those projects which not only score high on reliability but also on the affordability front.
One such project by Al-Jalil Developers is Al Noor Orchard Housing Scheme which is a renowned name in the real estate market in Lahore. Al Noor Orchard Housing Scheme has been vastly popular amongst the masses for not only the premium features and amenities it offers but also on account of the affordability of its various price points. Al Noor Orchard in addition to the original projects has been actively offering sub projects to suit the needs and taste of different segments in the market. These projects include West Marina, West Marina Executive, Marina Sports City and Marina Sports City Residencia all of which are uniquely tailored to appeal to a vast variety of customer segments. However, what is truly amazing is how each of these projects, despite the unique features and the high quality amenities, is offering a very affordable price plan.
We are yet far from a uniform housing infrastructure which caters to the needs of the lower income groups as much as the higher income groups. Government intervention is imperative if we are to expect stable, affordable prices and a market free of fraudulent quick-money projects. However, all is not lost and there are still some economical and reliable projects in the market which provide a much needed economic relief to the general public. The idea is to do your research well and ensure the reliability when making an investment of your lifetime.
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