Lahore is a city that has great historical importance, it is referred as an ancient city with a background of old age architectural buildings and is also known as the city surviving through different ages until it became a crucial metropolis today. But this doesn’t mean that there are only old-fashioned structures in Lahore, the truth is that the city has evolved in past few years and today there stands high-raised buildings as well as apartments that are constructed as per latest infrastructural designs and concepts.
The locals of Lahore can tell how much the city has evolved in the recent few years and how the city has renovated on the modern lines of real estate. But still, there are not many areas that are up-to-date and offers state-of-the-art designs and infrastructure. Therefore if you are searching for a flat in Lahore than finding the right one is difficult, at least as compared to the economic hub, Karachi. Finding a flat in Karachi or even in Islamabad now is not that difficult as compared to Lahore.
Lahore has expanded horizontally in recent years, due to lack of space in the city new buildings are constructed in apartment format. Today, we are going to bring the residential areas of Lahore in the limelight where you can find apartments on rent or where you can invest and purchase yourself.
The most top searched area of Lahore is DHA Lahore, whereas Bahria Town Lahore comes on the second spot, Askari, Johar Town and Model Town comes on the third, fourth and fifth positions respectively. These are the top five localities of Lahore, therefore, we are going to discuss these areas and the rates at which you can purchase an apartment for yourself or for future investment.
DHA Defence Lahore
In flats search domain, Defence Housing Authority Lahore comes on top position. This year, nearly 25.5% of searches have hiked for DHA Defence. The residential area is divided into three important sub-areas or phases that are most popular when it comes to flat purchasing or selling. DHA Phase is on top as sub-district having almost 36.3% searches, whereas DHA Phase 5 comes on the second spot with 22.1% of total searches, in the same stance comes DHA Phase 8 on the third position with 9.5% searches of investors who are interested in investing for apartments in Lahore.
DHA Defence is gaining popularity more and more every day and those people who are preferring to uplift their living standards are opting for DHA Defence. For young couples, a single bedroom apartment can come within a range of PKR 1.15 crores to PKR 1.5 crores only. If you are looking for a two bedroom flat then it will come in a range of PKR 1.22 crores to PKR 2.41 crores only. Larger flats that contain three bedrooms than it will cost you around PKR 1.4 crores to PKR 2.99 crores.
Bahria Town Lahore
With the passage of time, Bahria Town has gained a lot of attention and with the recent uplifting of the ban on the project, Bahria Town has become a favorite spot of investment among the majority of the investors. This year the search for Bahria Town Lahore flats has raised to 7.7% in total. The popular areas of Bahria Town are Sector C, Sector B and Sector D which are most searched by the potential investors with 31.2%, 21.1% and 14.8% searches in total.
Bahria Town is brilliant from an investment point of view, therefore, if you are looking for a single bedroom flat then it will be priced around PKR 27 lacs to PKR 55 lacs only. Whereas if you are interested in a two bedroom apartment that the price starts from PKR 52 lacs ranging to PKR 65 lacs only. Well, currently Bahria Town Lahore is not offering three bedroom apartment.
Askari is one of the most secure residential areas of Lahore that is actually managed by the Armed Forces of Pakistan. It is a well-maintained and well-constructed housing project and is definitely an ideal spot for purchasing a flat. It is the third hot spot to invest in the real estate of Lahore, especially when it comes to apartments. The area has a percentage of 4.6% total searches. The areas that are recommended are Askari 11 having 46.9% of total searches, whereas Askari 10 comes on the second number having a total of 33.1% searches and Askari 5 at third having 6.7% searches in total from potential buyers all over the country.
The drawback can be that Askari doesn’t offer flats for small families as they don’t have single bedroom flats or two bedroom apartments. They offer three bedrooms flat that you can purchase at a price of PKR 1 crore to PKR 2 crores only. On the other hand, Askari offers four bedroom apartments as well for bigger families that will cost you around PKR 1.3 crores to PKR 2.1 crores only.
Johar Town is an old residential area of Lahore but it offers a few state-of-the-art infrastructure buildings and apartments. Johar Town ranks as the fourth best residential area of Lahore to purchase flats with nearly 3.9% total searches. Phase 2 of Johar Town is the most popular area when it comes to apartment purchases, having 53.1% of total searches. Phase 1 of Johar Town is also not far behind, it has 45.4% of total searches.
The flat scheme is new for Johar Town, therefore, there is not much variety at the moment. Though the administration plans to construct more bedroom apartments in the future currently they offer only single bedroom apartments for both Phase 2 and Phase 1 as well. The price ranges from PKR 22 lacs to PKR 38 lacs only.
Model Town Lahore is the last and the fifth famous residential area of Lahore when it comes to purchasing the flats. It is a well-maintained and guarded housing scheme that has a total of 2.5% searches from potential buyers. Block K of Model Town is most famous with 10.9% total searched that is followed by Model Town Link Road on the second number with a total of 10.7% searches in percentage. Block Q is the third best spot to purchase flats with an average of 9.6% total searches.
It is an old residential area of Lahore and therefore offers only two bedroom apartments that cost around PKR 25 lacs to PKR 50 lacs only. There is no option for newly married couple or larger families, however, the modern state-of-the-art designed two bedroom flats are popular in Block K, Block Q and Model Town Link Road.
This concludes our list of top five residential areas of Lahore that offers flats and apartments in affordable rates. The real estate market of Lahore is blooming and there is no doubt that soon many areas will be offering more options. For browsing the listing of flats available in these areas, log in to your ilaan.com account and start finding the best possible rates. Stay tuned to Ilaan blogs for the latest information on the real estate market and its trends all over Pakistan.