Lahore is expanding and so is its real estate sectorby Julie Robert marketing analyst
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Lahore is the cultural hub of Pakistan which is regarded because of its relics of architecture and other historical values. The walled city of Lahore still represents a picture of Mughal’s era. But the Lahore of today is far different to the Lahore of 1980s.
Zameen.com, a property portal of Pakistan, today, puts into limelight the ameliorating bounds of Lahore. The city which on one facet represents our history, on the other facet is an attraction for the real estate investors, residents and developers alike.
As per Punjab Government’s statistics, the total area of Lahore is 404 square kilometres, but today because of the frequent expansion of Lahore real estate, the total area of the city seems to have increased notably.
From Northern and Westerns sides, the District of Sheikhupura covers this capital city of Punjab. Kasur district is connected to its South and on the Eastern side lies India. Developers now seem to be giving vent to new communities in the outskirts of the city and away from the centre of the city.
There are various factors that tally up to the expansion of bounds of Lahore. With increasing population, the demand of residential units increases. Now if your travel from the centre of the city to Raiwand, Gajjumatta and Shahdara, you would see the areas extremely populated. So, rapid increase in population can be regarded as one the major reasons of increasing area of Lahore.
Another factor is the promising trait of the real estate sector of Lahore and promising in the sense that it offers noteworthy return on investment to the investors. Plus, the investors consider Lahore real estate a safe haven for funnelling their investments. This sector witnesses a trade of billions of rupees and not just the sole property investors invest here, but also the people from every other field invest in the real estate sector of Lahore.
An array of residential communities accompanies you when you travel on Multan road. And also on the Raiwand Road till Jaati Umra, you are likely to witnesses various residential societies. In the opposite directon, the area till Shahdara is also getting full with the residential communities. All these communities are now considered to be a part of Lahore.
The flat system is also less famous in Lahore, so instead of having high-rise buildings, the city of Lahore is spawning horizontally. This gives an idea that investors can look into the segment of high-rise apartment complexes, which is somehow unaddressed in Lahore. Moreover, people from other cities also migrate to Lahore because of which the demand for residential units increases.
We can deem this expansion ‘a prosperity’ of the Lahore real estate. But on the other hand, this expansion causes administration problems and makes it difficult for the related authorities to maintain law and order situation. In my view, new cities should be developed instead of increasing the bounds of Lahore haphazardly. This can enable the authorities to address the administration issues and allow them to maintain the law and order situation in a better way.
Created on Dec 31st 1969 18:00. Viewed 0 times.