Lahore Smart City, the residential housing project by Future Development Holdings and Habib Rafiq (Pvt) Ltd, has been launched on 5th August 2020. It will be very similar to Capital Smart City Islamabad in terms of planning and implementation.
Offering the same features and amenities, Lahore Smart City is bound to be a hit among the developing housing projects in Lahore.
Scroll down to see the payment plans, location, master plan and booking details.
According to the preliminary information received from the developers, Lahore Smart City will be located near the Kala Shah Kaku interchange on Lahore-Islamabad motorway (M-2).
The society will be facing Lahore Ring Road and Lahore-Sialkot motorway (M-11) will be on the right. Moreover, GT Road will be on the left of the grand housing project.
Furthermore, the location of the smart housing project is ideal because it is directly accessible through Lahore Ring Road. Here is the location on google maps.
Through Lahore Ring Road, Allama Iqbal International Airport can be reached in 15 minutes.
Approvals and NOC
The upcoming smart project comes under the jurisdiction of Lahore Development Authority (LDA). Lahore Smart City does not have the NOC from LDA yet. Currently, the society is in pre-launch phase which is only the beginning of the grand idea.
It is important to note that the procedure of obtaining NOC starts with acquisition of land. The management of the project has already acquired most of the land and the rest is in-progress. It is expected that the NOC will be issued within a couple of months after fulfilling all requirements of the process.
Master Plan and Facilities
The tentative master plan of the grand project has been released. The residential and commercial plots have been divided into two blocks, Overseas block and Executive block. The placement of Overseas block is closer to the entrance and the 400 ft. central boulevard.
The master plan also reveals that the project will offer a large number of farmhouses, the details of which will be released later.
Just like it’s replica in Islamabad, Lahore Smart City offers a large Golf Course, Sports district, Financial Square, Silicon Valley, Cultural Village and a 600 kanal Theme park.
In addition, the society includes ample health care and educational facilities in the Health Care District and Education District.
The commercial area is spread across the entire society, in addition to the Financial Square, to provide for commercial and business needs of the residents.
Payment Plan of Lahore Smart City
The launching prices of Lahore Smart City are very similar to the launching prices of Capital Smart City. The price of 5 marla residential plot in Executive block was Rs. 1,800,000 (18 Lac) while the price of 5 marla plot in Overseas block was Rs. 1,900,000 (19 Lac).
Moreover, 10 marla residential plot was priced at 33 Lac in Executive block while 34 Lac in Overseas block. Similarly, the price of 1 kanal plot in Executive block was 54 Lac while it is 55 Lac in Overseas block.
Revised Prices and Payment Plan
In September 2020, the company revised the pre-launching price of residential plots, one month after launching. As expected, the price of all sizes and blocks has increased significantly.
Moreover, the duration of the installment schedule has decreased from 3.5 years to 3 years which will further increase the quarterly installment.
The table below shows the comparison of new and old prices of Lahore Smart City.
|Increase in Price||Pre-launch Installment|
Effect of New Payment Plan on Investors of Lahore Smart City
The revision in prices is a good news for existing members (investors) of Lahore Smart City as it will bring profit on the old files (files bought at the old price and plan). Rest assured, the change in company’s booking price does not affect the payment schedule of existing members who have purchased plots at a previous rate (click to read more). In fact, this is the actual good news.
Take a look at the detailed (revised) payment plan of both overseas and executive block.
Booking in Lahore Smart City
The society has opened very limited booking during the soft launch. The investor rates, as shown in the payment plan, are comparable to those of Capital Smart City in the pre-launch phase.
Starting from 7th August 2020, residential plots of 5 marla, 10 marla and 1 kanal can be booked at 10% down-payment. Another 10% is to be paid within the first 60 days after booking as confirmation.
The booking at first pre-launch prices has been closed. Click here to see the new payment plan!
As the bank accounts for Smart City Lahore are under-process, the payments are to be made in the existing bank account of FDHL (Future Development Holdings Limited).
Development Work Update
Lahore Smart City has conducted the soil test on 21 August 2020 in order to further the process of obtaining NOC as well as planning and development of the upcoming Smart City.
Soil Test is conducted to determine the composition of the soil to find out whether it can properly support a foundation. Moreover, the composition of soil also determines the type and depth of foundation required for construction.
Being a crucial step in any construction or land development project, it is also a necessary part of getting approval for development and construction.
Why Invest in Lahore Smart City?
If you are wondering whether it is worthy and safe to invest in the newly launched project, we have summarized a few points here to help you make an informed decision.
Lahore Smart City is being developed by Habib Rafiq (Pvt) Limited which is one of the largest real estate developers of Pakistan. Their successful projects include Royal Orchard Multan and Capital Smart City Islamabad.
Capital Smart City Islamabad has seen a huge success in the real estate market of Islamabad being the most popular choice among investors and end consumers. Check out the detailed Review of Capital Smart City here.
Excellent Opportunity for High Return on Investment
The extended time period of 60 days (instead of 30 days) between booking and confirmation is largely beneficial for short-term investors who wish to earn capital gains with minimum possible initial investment.
Learn from the Past
The prices of Lahore project are very similar to the initial launching prices of Capital Smart City. In a very short time period, the list price (or booking price) was increased by the company due to overwhelming response of the market (See Capital Smart City – All About Prices for details).
For example, the price of 5 marla residential plot started from Rs. 1,700,000 in mid 2017 to Rs. 2,415,000. Due to the increase in company’s price, the demand of old files (files purchased at old rates) increases in the market resulting in high profits. That’s why, the investors earned considerable profits through resale of the files in the market.
Therefore, we predict that the prices of Smart City Lahore will rise sooner than you can imagine!
Higher Demand, Higher Price
Due to the good and profitable experience of investors with Capital Smart City, the market has been enthusiastically waiting for the launch of Smart City in Lahore. Majority of our investors kept asking about the launch and details of the Lahore project so that they don’t miss out on the short opportunity window. Why do we tell you this?
Well, this means that investors have been ready with their funds to invest in this project. The high demand combined with the limited supply will boost the prices sooner than we can imagine as we saw in the case of 2.5 marla commercials and 3.5 marla residential plots Harmony Park block in Islamabad chapter.
If you want to benefit from the initial hike in prices, now is the time to act and reserve your residential plot starting from a minimum of Rs. 180,000 down-payment only. Sign up below to be contacted by our representative and get further details.