State Life Housing Society Phase 1 & 2 Lahore News information, Plot Prices, Development Videos & Location Map

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State Life Housing Society Lahore Merges with Lake City – Latest Prices & Insights (Updated 21st December 2024)

The State Life Housing Society in Lahore is undergoing a major transformation, merging with the prestigious Lake City. This development introduces exciting opportunities for buyers and investors looking for prime residential and commercial plots.

Key Details of the State Life & Lake City Merger

The merger process is 80-90% complete, with Lake City taking over State Life Phase 1, Phase 1 Extension, and Phase 2. Once finalized, the area will officially operate under the Lake City banner, bringing improved infrastructure, management, and amenities.

Current Plot Prices

• Phase 1 (Developed Area):
  • 5 Marla: PKR 90–130 Lakhs
  • 10 Marla: PKR 170–215 Lakhs
  • 1 Kanal: PKR 250–360 Lakhs
• Phase 1 Extension:
  • 5 Marla: PKR 35–45 Lakhs
  • 10 Marla: PKR 60–135 Lakhs
• Phase 2:
  • 7 Marla (Converted to 4 Marla): Starting at PKR 23–25 Lakhs
  • 14 Marla (Converted to 8 Marla): Starting at PKR 44–45 Lakhs

Why Invest Now?

The merger significantly enhances the project’s value, creating a unique opportunity for early investors. The location offers seamless connectivity via Ring Road, proximity to DHA phases, and access to the vibrant Lake City community.

Prime Buying Opportunities

• Ready to Build: Phase 1 plots are ideal for immediate home construction.
• Long-Term Gains: Phase 2 offers cost-effective options for future development.

Conclusion

With the State Life and Lake City merger nearly finalized, this is the perfect time to invest. The enhanced infrastructure and prime location ensure excellent returns for buyers and investors.

State Life Phase 2 Lahore & Lake City Merger: NAB Case Approval (Updates as of 8th November, 2024)

The recent merger of State Life Phase 2, Lahore, and Lake City has brought exciting news for investors and property holders who have been waiting for clarity. The merger was approved in the Special General Meeting (SGM) held on June 2, 2024, and has since moved forward with significant updates.

Key Highlights of the Merger

1. NAB Approval and NOC Received: The merger’s most significant hurdle was gaining approval from NAB (National Accountability Bureau), which has now been cleared. Lake City has obtained the NOC (No Objection Certificate) for the merger, signifying a major milestone in this transition. This approval paves the way for Lake City to officially take control of State Life Phase 2.
2. Changes in Plot Sizes and Layouts: As part of the merger, plot sizes in State Life Phase 2 will be adjusted to align with Lake City’s offerings. The popular 7-marla plots will be converted to 4-marla plots, and 14-marla plots will be adjusted to 8-marla configurations. These changes make the area more compatible with Lake City’s layout and offer better options for investors.
3. Phased Transition: The integration is taking place gradually. Initially, Block AA, BB, CC, and JJ in State Life Phase 2 will undergo re-coding to fit the Lake City structure. Over time, letters for the new plots will be dispatched to existing State Life plot owners, making the transition official.
4. Rising Property Values: Following the NOC approval, property prices in this area have shown an upward trend. The current market situation indicates it may be a favorable time for plot holders to sell their holdings at a profit, particularly those who have been on the sidelines waiting for a more lucrative exit.

Lake City Expansion and Future Prospects

• Lake City Integration: Lake City will incorporate all areas of State Life Phase 2, as well as extensions in Phase 1 (including G and J Blocks). After the completion of this process, Lake City will replace the existing State Life branding with its own, providing consistent management and services across the entire region.
• Development in Extensions: Lake City is not just integrating the land but is also introducing its planning standards to these areas. Developed sectors in Phase 1, such as those offering 5, 10, and 1-kanal plots, remain at peak market prices due to consistent demand. Notably, G Block and J Block in Phase 1 have experienced stable or increasing prices, making them attractive to end-users.

Current Market Prices Phase-1

• Residential Plots:
  • 5-marla plots in developed areas: Prices range from PKR 9 million to 12.5 million, depending on location and amenities.
  • 10-marla plots: Prices vary from PKR 16 million to around PKR 21.5 million.
  • 1-kanal plots: Starting from PKR 23.5 million and can go up to PKR 37.5 million in prime locations.
• Commercial Plots:
  • 4-marla commercial plots
  • 8-marla commercial plots

Investment Opportunities and Recommendations

For clients looking to convert their holdings into cash or reinvest, DHA (Defense Housing Authority) offers lucrative options. This period presents an opportune time to sell State Life Phase 2 properties at a good rate, given the upward trend in prices post-merger. Moreover, investors can explore DHA properties that align with their budgets and investment goals, which continue to be highly desirable.

Final Thoughts

With the successful NAB clearance and NOC, the merger between State Life Phase 2 and Lake City marks a promising chapter for property holders and investors alike. As Lake City continues to transition and develop this area, the region is set to benefit from enhanced infrastructure, increased plot sizes, and rising market demand. For those interested in buying or selling within State Life or Lake City, this merger opens numerous possibilities.

Lake City Takes Over State Life Housing Scheme (Update: June 05, 2024)

Summary: Big news for Lahore property investors! Lake City has acquired State Life Housing Scheme, including Phases 1, 1 Extension, and 2. This merger brings changes and opportunities for plot holders. Here’s a breakdown:

Merger Details:

• Lake City takes complete control of development and operations.
• Management transition expected within 1.5 months.

Plot Details & Development Charges:

Phase 1: No changes to plot sizes or development charges.Phase 1 Extension: Equivalent-sized plots offered with existing development charges.Phase 2:

• Residential:
  • 1 Kanal plots become 14 Marla (PKR 16 Lac development charge).
  • 10 Marla plots become 4 Marla (PKR 8 Lac development charge).
• No commercial plots in Phase 2.

Development Timeline:

• Lake City targets completion within 36 months and NOC by December.
• Development costs covered by commercial plots; remaining charges paid in installments (over 36 months).

Key Benefits:

• Faster development expected under Lake City management.
• Improved infrastructure planned, including a direct link to Phase 1.
• Revised plot sizes in Phase 2 may offer better value for investors.

Looking to Buy or Sell?

Lahore Real Estate can guide you through the current market transition. Contact us for safe and reliable property transactions.

Note: Delays and risks are possible due to the ongoing management change. We recommend exercising caution with token money transactions.

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