DHA phase 9 prism is one of the largest phases of DHA housing scheme in Lahore. Investors have long been eyeing this phase due to its excellent location, brand name, promised facilities and development pace. Even though the development was in initial phases this phase was widely considered for short term investments by investors. On the other hand, investment prospects dropped a little in the latter half of last year in DHA Phase IX Prism.
The major reason for this dip was general withdrawal of investors from investments in real estate. The market remained slow prior to general election and Eid-ul-fitr. Yet, during the month of April, DHA Phase IX Prism saw an upsurge due to the launch of Lahore ring Road Southern Loop. Since then, market for Phase IX Prism has taken pace and now once again the people are looking to invest in DHA Phase IX Prism.
DHA Phase 9 covers 40,000 Kanal of land. The remarkable housing venture contains 24,000 residential plots and 2000 commercial plots divided into 16. DHA Phase 9 Prism links with 11 outer roads to travel within the city. Yet Lahore Ring Road is the most appealing route for traveling to any part of Lahore from DHA Prism 9. Such as some main areas of Lahore like Ferozepur Road, Lahore Cantt, Raiwind Road or G.T. Road can be accessed within 30 minutes from Lahore Ring Road.
Development is also ongoing in the phase IX prism at a fast pace. Road network is being laid out. The genuine buyers are demanding for plots in most of the phases in DHA. Therefore, demand in phase IV, VI, VII, VIII and IX is high. While genuine buyers and end users prefer buying plots and phase IV, VII and VIII, phase IX is the preference of investors. Five Marla plots are hot here while the favorite blocks are J, K and R. As prices in other phases are already at their peak, higher ROI is expected in Phase IX and Prism over time.
Many investors are anticipating possession to be granted soon but some are of view that Phase IX Prism is too big to develop completely before the time period of two years. However, any of these conflicting views can be true as DHA is known for fast development and if the possession is granted block-wise than it is quite likely that DHA will offer possession in the first half of 2019.
Although, in case DHA opts to grant the possession after the completion of the development then it is going to take some time. Investors and new buyers however have to watch out for final announcement from DHA to make a decision.
Trends in Prices
The prices saw a dip after the robust activity in real estate in general and this trend was reflected in the pricing of DHA Phase IX Prism. Then the Lahore Ring Roads’ southern loop developed and the prices in prism surged a little bit.
Now the market is expecting some solid activity in near future because the upcoming government is expected to renew taxation in real estate sector and the country is expected to turn towards prosperity in general.
With new taxes levied in real estate the market activity is expected to return and hence the prices are projected to increase by 10% to 20% within six months. Average current prices in DHA Phase IX Prism are as follows.
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DHA Phase IX Prism is an emerging investment avenue and can be considered for medium and long term investments. However, current trends are suggesting that it can turn out to be a good investment prospect in short term too. Nonetheless, DHA is a trusted name and a safer investment option.