The phase Prism 9, spreading over 40, 000 kanals,
could be accessed from 8 different directions.
A city mall, having latest facilities, a modern university as well as a modern
hospital would also be built in it.
Spacious parks of the phase seem to enhance its beauty, while mosques,
churches, cafes, golf courses, water theme parks, business centres, a drive-in-
cinema, polo clubs, race courses, convention centres, electronic parking
system, emergency service and a police station are all such specialties of the
phase that will directly or indirectly benefit millions of its residents as
well as businessmen.
On the Inaugural Ceremony occasion, Chief Engineer Colonel ( r ) Shah Jahan,
while giving details of Prism 9, said that there would be 25, 600 residential
while 1, 900 commercial plots in it; the phase would spread over 16 acres; maximum
length of roads in the phase would be 30 km, which would be 120 to 150 ft wide
Other roads in the Prism, consisting of 2 to 3 lanes, would be 60 to 80 ft
wide, and these would be capable of bearing an increasing traffic load.
For public convenience, service lane would also be built along every road.
27 overhead water tanks, along with tube-wells, would be built in the Prism.
These would cater for the requirements of residents of this largest phase.
round the clock.
Keeping in view peoples’ needs, 6 sewerage stations would also be built.
6 grid stations would be built for the power supply.
The system would be underground While LED lights would also be installed
Wells would be built in all parks for the water sanitation, while the water
would also be preserved for irrigation purposes.
The most important thing about Prism 9 is that a
boundary wall would be built around it for security purposes.
Reasons of Popularity and main characteristics
Among all DHA phases, Prism IX takes the top rank for people browsing
the portal for plots in Lahore. Because many believe that the development this
phase will take a while, they fail to comprehend why investor interest as well
as investment volume doesn’t drop here. Perhaps this is because no other phase
in DHA is planned like Phase IX and delivering this phase on a priority basis
will help the developer move forward with its plans for Phase X and Phase XI.
DHA officials shared these plans with real estate agents registered with the
authority in a meeting held about a month ago.
In this phase, the top five most searched blocks are Blocks C, A, R, J
and F. Interestingly, all these blocks, except for J, are located close to DHA
9 Town. Moreover, except for C, none of these blocks have land areas or pockets
that aren’t a part of this phase.
It should also be noted that the main arteries of Phase IX pass through
these blocks on their way to the inner blocks. This, in other words, means that
blocks that can exponentially benefit from the development of main roads are
already hot among the potential investors and property buyers browsing
Zameen.com.
Development charges
Development charges will be applied to Prism IX plots from this month,
and the first payment is due on February 29. These dues have to be paid in 12
quarterly instalments over a period of 3 years. For every delayed payment,
there will be a surcharge of 10%.
If we do the math, the quarterly instalment of a 1-kanal residential
plot is PKR 162,500 and that of a 10-marla residential plot is PKR 108,333 this
month. Owners of 5-marla residential plots have to pay PKR 75,000 this month.
The quarterly development charges to be paid for 4- and 8-marla
commercial plots are PKR 162,500 and PKR 312,500 respectively.
If we add development charges to the current rate of plots in Prism 9,
the average sale price of 1-kanal residential plots goes up to PKR 10,450,000,
while 10-marla and 5-marla plots end up costing PKR 6,050,000 and PKR
3,850,000.
Comparison with other phases
If we compare Prism IX’s property rates with those of DHA 9 Town, we see
a considerable price difference. Please note that DHA 9 Town is not a proper
DHA phase but a dedicated development meant primarily for the families of
Pakistan Army shuhada.
It doesn’t feature residential plots bigger than 10 marla. The comparison is
pertinent because DHA 9 Town is the closest DHA project near this phase and it
has also positively affected property rates in blocks that lie close to it.
The average rate of 10-marla residential plots in DHA 9 Town is PKR
10,500,000, while the average market price of 8-marla plots is PKR 6,750,000
and that of 5-marla plots is PKR 5,500,000. The development charges for these
plots have been paid and are included in the cost.
In terms of development status, Prism 9 can also be compared with Phase
VII but, location wise, Prism IX a lot more attractive. Moreover, Prism 9 is
shaping up to be the most systematically planned and managed DHA phase in
Lahore.
Making investment decisions
If you look at the map of Phase IX, blocks that fall closer to DHA 9
Town enjoy a certain edge. Construction of the main roads that lie close to
these blocks is likely to begin soon and will benefit investors. Blocks that
lie closer to DHA 9 Town will benefit more from this development, primarily
because they have better access to other parts of DHA.
Maakson is looking to complete the assigned work in about a year and a
half. Meanwhile, it is also expected that other contractors get a go-ahead from
DHA to work on remaining lanes and streets. According to experts I have talked
to, roadworks in Prism 9 will be pretty much in shape in another three years.
Simply put, investors of Prism IX can expect over 50% profit in the medium
term.
In the investor-rich market, smaller plots almost
always offer better returns. DHA has recently seen genuine buyers more
interested in plots smaller than 1 kanal. Consequently, the price appreciation
recorded for 10-marla and 5-marla residential plots lately has been higher than
that of larger plots. So investment in 10- and 5-marla residential plots in
certain blocks can be very promising.
For this purpose, Block R is worth considering as it is primarily
dedicated to smaller plots. Please note that small cuttings of 10-marla
residential plots are also available in the rear ends of certain blocks. For
those interested in 1-kanal or 2-kanal residential plots, Blocks A, C, F, P and
Q are worth looking into.
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