Housing Society Report

Lake City

Intelligence Report on Lake City Society, Lahore

Report Summary

This report details Lake City Holdings, a private housing scheme located on Main Raiwind Road, Lahore, incorporated and launched in 2004. It is a gated community with approvals varying across its sectors. Sectors M-1 to M-7 (including extensions) are fully approved, while M8 and M8 Extension Block are pending approval. Approximately 90% of the area is developed. Lake City boasts numerous civic facilities including Al-Fatah and Lake City Mart for shopping, Scarsdale International School and Froebel's School campuses, operational banks, 24/7 security, a Wellness Club, Cinepax cinema, and the Lake City Golf Course & Country Club. Public transport is accessible via Raiwind Road, and the Ring Road is less than 1km away. The society sells files and on-ground plots (with possession on cash and instalment plans). Property transfers are allowed at the head office. All banks in Pakistan accept Lake City property as collateral for approved areas. The DC/FBR rates are provided, The price history of 5 Marla residential plots from 2018 to 2024 is available. Monthly and annual fees are applicable.

Archivable Data Points:

1. Basic Information and Overview

    1. Name: Lake city Holdings pvt. ltd
    2. Address: Lake city holdings pvt.ltd main raiwind road lahore.
    3. Landline: 042 111 444 999
    4. WhatsApp: None
    5. URL: https://www.lakecitylahore.com/
    6. Email: info@thelakecity.com.pk
    7. Google Map Coordinates:  https://maps.app.goo.gl/nzeTngij57by6q3G9

 

 

 2. Legal Formation: 

    1. Statutory Formation: Private housing scheme
    2. System of Election  : None
    3. Date of Incorporation: 2004
    4. Date of Initial Launching of the Housing Society: 2004

 

      3. Location: 

    1. Address: Raiwind Road
    2. Coordinates: https://maps.app.goo.gl/nzeTngij57by6q3G9
    3. Overall Area/Town Name: Approximately         10,000 kanals
    4. Approach Road(s) : Raiwind Road, Pine Avenue, Ring Road
    5. Gated Community: Yes
    6. Entry Points: Through Main Raiwind road & Pine Avenue
    7. Access to Important Roads: Raiwind Road, Ring Road, Pine Avenue
    8. Public Transport Access: Available through Raiwind road
    9. Distances to Major Landmarks of the City: Ring road less than 1km. Allama Iqbal International airport Lahore is 25 kms. Thokkar Niaz Baig is 24 kms.
    10. Distances to Important Area Specific Landmarks like Major Schools, Hospitals, Public Parks, Market Areas (if any): General hospital Lahore is at 23.1 kms distance/ Punjab university is at 20.9 kms distance.
    11. Unique features - location-wise, if any: None

 

      4.Current Management and/or Sponsors: 

    1. Sponsors (Original): Gohar Ijaz
    2. Current Management: Lake City’s own management.
    3. System of Management: Owner Management
    4. Supervising Authority (if any): None

      5.Recent Pictures:

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       6.Date Started and History of Additions/Extensions:

           2011:

 

7. Approvals’ status:

    1. Name of the Regulatory Authority of the concerned City: Lahore Development Authority(LDA)
    2. Approving Authority: Lahore Development Authority(LDA)
    3. Approval Status
      1. Full Approval: M-1, M-2, M-2a, M3, M3-a, M3-EXT, M4 (GB), M4(GV), G-EIII, M5, M6, M7, M-7a, M-7b
      2. Partial Approval: None
      3. Pending Approval: M8 & M8 Extension Block
      4. No Approval: N/A
    4. Approval No. Not Given
    5. Date of Approval: 2008
    6. Number of Sectors Approved: M-1, M-2, M-2a, M3, M3-a, M3-EXT, M4 (GB), M4(GV), G-EIII, M5, M6, M7, M-7a, M-7b
    7. Any pending issues for approval: M8 & M8 Extension Block

 

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Lake City Bella Verde: 

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Lake City Bella Vista: 

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Lake City Bella Vista Housing Scheme (revised):

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8. Total Area Distribution:

    1. Total land: Approved : Lake City bella vista = 8791.73 Kanals/         Lake City bella verde= 6746.04 Kanals
    2. Total land: Unapproved : Block M8 & M8 extension
    3. Total Area (Developed vs Undeveloped): 90% area is developed.
    4. Distribution of Area (like)

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9. Civic Facilities:

    1. Shopping facilities: Al-Fatah, Lake City Mart.
    2. Schools: Scarsdale International school & Froebel's School Campuses.
    3. Banks and other financial services: All Banks are operational. 
    4. Security and Policing: Security is available 24/7
    5. Communal Activities (Clubs, Gyms, Libraries etc): Wellness Club, We Play Trampoline Park
    6. Other Notable Recreational Activities: Cinepax at lake city, Lake city Golf Course & Country Club, 
    7. Public Parks: Lake City Community Parks
    8. Famous Brands (e.g. Famous Restaurants, Grocery Stores, Supermarkets etc): , Cafes & Eateries Includes famous brands like Gloria Jeans, Deli Deli, The Poet restaurant,  Forest cafe at lake city. 

 

 

10. Transport - Intercity and Intracity:  

    1. Bus access: Local Buses available through main raiwind road
    2. Rail Access: Jia Bagga Train station in a 1.5 kms range.
    3. Intra-City Access: Through Ring Road lahore
    4. Inter-City Access: Raiwind road/ pine avenue/ ring road
    5. Petrol Pumps: Shell/ Total Parco.

 

11. Status of Development and Amenities Offered :

    1. Approach roads: Raiwind road/ pine avenue/ ring road
    2. Electricity: Lesco/ Society’s own solar generated 
    3. Gas: Society’s Own bio gas station 
    4. Water Supply: Available 
    5. Internal Roads Condition: Well-Constructed & maintained.
    6. Internal Road Size (Various Sizes of Main, Branching, and Internal Roads):  Minimum street roads are 35 feet, Main Boulevard 300 feet 
    7. Sewerage: Well maintained connected to main drain lahore.
    8. Rain drainage: None
    9. Internet: Available fibre optic & Ptcl
    10. Security: Available 24/7
    11. Cable TV: Available Ptcl & local cable 
    12. Availability of Schools , Mosques, Hospitals, Shopping Centers, Civic Club(s), Banks (inside and nearby):  ( See point 9 civic facilities)
    13. Status of Cleanliness, Greenery Observed and other Roadside Plantations etc:  Lush green & well maintained.

12. Total number of Plots/Units and their Categories: 

    1. Plots/Units Developed vs Undeveloped (percentage): Covered in Society Map Image.
    2. Various Plot/Unit Categories (percentage): Covered in Images

13. Surroundings: Societies available in lake city’s surroundings are Alkabir Town, Khayaban-e-Amin, Park Avenue, Liberty Lands, Soul City, Zaitoon lifestyle.

 

Dynamic Data Points:

  1. Plot Ownership Status 
    1. Transfer of Ownership Mechanism: 

Like most of the housing societies & real estate developments in Lahore, plot transfer procedure & time of Lake City is simple. 

Following are the steps to transfer your plot of file in Lake City Lahore:

The owner or the seller of the plot in Lake City has to get an NDC (no demand certificate) form from the society office. This form is free of cost.

Fill it up with details, sign & submit it to the one window cell with the following documents:

NDC form

Copy of allotment letter or ownership document

Transfer set (can be obtained from an authorised dealer of Lake City)

Transfer fee deposit slip (Transfer fee for 5 Marla plot is Rs. 50,000)

Collect the NDC after 7 days & set the transfer time

    1. Registry of Properties allowed: Yes 
    2. Property sold on an Allotment Letter: Yes
    3. Where does the Transfer take place: Lake City’s Headoffice 
    4. Rate of Plot Transfer: (Transfer fee for 5 Marla plot is Rs. 50,000)
  1. Any legal problems (lawsuits for and against); Faced by the Society: No
  2. Any actions taken by Governmental Agencies and Financial Institutions: No
  1. General Selling Mechanism
    1. What are they Primarily Selling?
      1. Files:  Yes 
      2. On-Ground Plots : Available on 1.5 years instalment plan
      3. On-Ground Plots with Possession : Available on cash
    2. Approved/in-house/Authorised Property Dealers : Consult & Deal /Aass Property/ Al-madad Group
    3. Agencies e.g Zameen, Agency 21, Graana: All agencies on panel through dealers market.
    4. Sale by Housing Society itself: Society owns its in house sales team.

 

  1. Competition:

In context Competing Housing Projects (different from neighbouring Housing Projects): DHA/ Etihad Town phase 1

  1. Any legal issues; Faced by Clients: None
  2. News concerning the society (print, electronic, social media) in favour and against: 
    1. https://www.brecorder.com/news/40238009/pakistan-housing-finance-company-eyes-equity-investment-of-rs12bn-in-silkbank
    2. SOUL FEST
  3. Percentage of Populated Blocks/Areas/Sectors: M1 to M7 are fully populated/ Block M-7 extension is 20% populated & Block M-8 is 40% populated. Block M-8 extension is under development.  
  1. Bank’s acceptance of Housing Society Property as Collateral: Accepted by all banks of Pakistan.
  1. DC/ FBR rates:

 

Residential open Plot (per Marla)

Residential Superstructure (per Sq.ft) 

Commercial open Plot (per Marla)

Commercial Super Structure (per Sq.ft) 

Lake City Holding (Pvt) Ltd.

1,225,500

1,800

3,073,520

2,200

 

           Source: https://fbr.gov.pk/propertyValuation/17066

  1. Other Applicable After-Sale Charges
    1. Monthly and Annual Fees for residents: 3000 (for 5 marla)
    2. Transfer Fees charged by Society: 50,000/- (5 marla)
    3. Other means of earning for Society: No
       12. Price Model of the last 5 years:

 

Year

Instalment Rate 

2018

4500,000/- M7

2020

50,00,000/- M7

2021

60,00,000/- M8

2022

-

2023

119,00,000/- M8

2024

12,500,000/- M7

 

 

 

 

Bella Vista 

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