Lake City Merger with State Life Phase 2 | Best Buying in 2024

Lake City Merger with State Life Phase 2 | Best Buying in 2024

Exciting news for property investors and plot holders! Lake City has officially taken over State Life Phase 2, including Phase 1, Phase 1 Extension, and Phase 2. This merger brings significant changes and opportunities for current and future investors. In this article, we provide detailed information about the merger, plot details, development charges, and the benefits for plot holders.

Merger Details

The merger between Lake City and State Life has been approved, and the management transition will occur within the next one and a half months. Lake City will completely manage and oversee the development and operations of the State Life phases. This change is expected to bring enhanced development and better management practices.

Plot Details and Development Charges

• Phase 1: No changes in plot sizes or prices.
• Phase 1 Extension:
  • Plots of 10 marla, 5 marla, 3.5 marla, and 2 marla will receive equivalent-sized plots in the extension.
  • Commercial plots of 4 marla and 8 marla will remain unchanged.
  • No additional development charges beyond those already imposed.
• Phase 2:
  • (1 Kanal to 14 Marla) plots will receive 8 marla plots with a development charge of Rs. 16 lakhs.
  • (10 Marla to 7 Marla) plots will receive 4 marla plots with a development charge of Rs. 8 lakhs.
  • Phase 2 has no commercial plots currently.

Management and Development Timeline

Lake City aims to complete the development within 36 months, targeting December for NOC approval. The development cost will be managed through commercial plots, and the remaining development charges will be payable in installments over approximately 36 months.

Benefits for Plot Holders

• State Life Phase 1: Enhanced recognition and value with Lake City’s brand name.
• Phase 1 Extension & Phase 2: Better development quality and infrastructure.
• DHA Prism F & C Blocks: Significant benefits due to proximity to Lake City’s quality development.

Buying and Selling Opportunities

Lahore Real Estate is a leading dealer for Lake City and State Life projects. We provide honest and reliable services for buying and selling plots. Due to the ongoing management transition, there may be delays and risks associated with token money transactions. We recommend working with trusted dealers to avoid potential issues.

Conclusion

The merger of Lake City and State Life Phase 2 marks a significant development in Lahore’s real estate sector. With improved management and development plans, plot holders and investors can look forward to enhanced property values and better living standards. For more information and assistance, contact Lahore Real Estate.

Important Note

The author recommends exercising caution when purchasing properties during this period, as token payments may not guarantee immediate transfer of ownership. It’s advisable to work with reputable dealers and to consider the risks associated with delayed transfers.

READ MORE: https://lahorerealestate.com/state-life-housing-society-phase-1-2/