Lahore Development Authority lifted sanctions from more than 50 major boulevards of Lahore. These roads are now open for commercial activity. The steps, which were apparently taken to add to the development budget of Lahore, are going to benefiting the resident of those areas as well the investors. The property dealers and investors are hopeful to see some real activity in Pakistan Real Estate.
Lahore, the second largest city of Pakistan, witnessed a business boom in late 90s due to unrest in Karachi. Major companies and brand rolled their business from Karachi and shifted their setup to Lahore. The city offered highly conducive environment for business activities and in no time, designer brands, chain stores, shopping malls and commercial areas were seen buzzing with avid buyers. However his business activity was limited to certain posh areas of Lahore and consequently seized commercial development in other parts of the city.
Liberty, Fortress and Anarkali have always been the major commercial areas of Lahore but the first decade of this millennium saw the rising of various commercial areas in DHA, Gulberg, Cantt, Cavalry, MM Alam Road, Model Town, Alama Iqbal Town, Shadman and Jail Road to name a few. From immigration offices to famous pan shops, and from toy stores to fitness centres, you can now find every such facility in all of the known markets and commercial areas of the city. Therefore the value of Lahore Property in these areas observed a massive increase.
The darker side of giving liberty to certain areas surfaced right away but since the majority of stakeholders had nothing to protect in less developed areas, things were let the way they were. Within few years one could see the major difference between the areas linked to the commercially active zone and those with the less privileged ones. From basic infrastructure to health facilities and from education to law and order, every aspect of these areas mirrored the miseries inflicted upon them due to the dual standards of the authorities.
Well, bad days are over; LDA has given some leverage to 58 new boulevards and eased commercial restrictions on them. Some of these roads include Ferozpur Road (From Chungi to Sua-Asil), College Road, Multan Road (Chowk Yateem Khana to Defence Road), Township ane the main boulevards are of Gulshan-e-Ravi, Johar Town approach Road (Tajpura Mor to Shadbagh), and PIA Scheme.
The property dealers and investors of Lahore Real Estate are all active once again to get back in business and make the buyers and sellers help these areas get their well deserved share of prosperity and development.