Tuesday, October 29, 2013

Low budget housing options in Lahore

Me and my friend spent last weekend visiting EDEN value homes and Punjab Government Employees housing society near Shahkaam showk on canal road. Below are my observations:

Eden Value Homes:

1) I am not satisfied with their construction quality. We visited one 3.5M house and almost every wall had seapage. Not sure whether it was problem with that house only or its common in Eden.
2) Prices have increased in last 3 months. 3.5M house is in range of 36-40 lacs now.
3) We met some residents and they gave us very good feedback about facilities. They did not complain about seapage or any construction quality.

Punjab Government Employees housing society

1) Construction quality seems better than Eden. Houses are constructed by NESPAK. No tip top but quality is good.
2) All houses are single story and price of 5M single story is around 33 to 38.
3) We met a resident (colleague of my friend) who has been living there for 2 years. He was very happy with construction quality. 
4) Construction is very simple, chips floor, tiles only in bathroom and basic conventional sanitary fittings. Even Kitchen is very simple. I think buyer will need to spend atleast 100k (lights + fans + exhaust fans + some taps) before moving there.

Comparison Table:

Feature
PGEHS
Eden Value Homes
Construction Quality
Good (7/10)
Satisfactory (5/10)
Distance from City
12 km from Thokar (4/10)
I think 2km from Thokar (8/10)
Quality of Living
Good (7/10)
Very Good (8/10)
Possible House option in budget
5M single story (7/10)
3.5M double story (5/10)
Cost of living (Monthly charges)
600 Rs
1500 Rs
Approach from City
Very good as its on canal road (7/10)
Good (6/10)……Busy Multan road
Basic Necessities of Life
Very few options (5/10) :
School: Nearest one is either in BT or Izmir).
Hospital: Nearest is in BT or Farooq hospital near thokar. Market:  They have a market.
Public Transport: Available 24hrs on Multan road and till 11 PM on Canal
More options (7/10) :
School: Many schools near thokar.
Hospital: Nearest is Farooq hospital near thokar.
Market:  They have a market.
Public Transport: Available 24hrs on Multan road.
ROI (Return on Investment)
Price is expected to increase because of its location. Normal 5M plot price is around 20 lacs. So getting house in 33 or 34 seems good price.
I don’t think price of 3.5 will increase more than 40 lacs. It can increase maximum to 45 only if DHA city is constructed adjacent to Eden (still in air)

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