Lake City Merger with State Life Phase 2 | Best Buy in 2024
Good 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. The merger brings significant changes and opportunities for existing and future investors. In this article, we provide detailed information about mergers, plot details, development charges, and benefits for plot holders.
Integration details
Integration between Lake City And State Life has been approved, and the administrative transfer will take place in the next month and a half. Lake City will fully manage and oversee the development and operations of the state life stages. Better growth and better management practices are expected from this change.
Plot details and development charges
- Phase 1: No change in plot size or prices.
- Phase 1 Expansion:
- 10 Marla, 5 Marla, 3.5 Marla, and 2 Marla plots will get equal sized plots in the extension.
- There will be no change in commercial plots of 4 marla and 8 marla.
- No additional development charges over and above those already imposed.
- Step 2:
- (1 kanal to 14 marla) plots will get 8 marla plots with a development charge of Rs.500. 16 lakhs
- (10 Marla to 7 Marla) plots will get 4 Marla plots on which development charge of Rs. 8 lakhs
- Phase 2 currently has no commercial plots.
Management and development timeline
Lake City aims to complete the development within 36 months, with a December target for NOC approval. The development cost will be met through commercial plots, and the remaining development charges will be paid in installments over a period of approximately 36 months.
Benefits for plot holders
- State Life Phase 1: Better recognition and value with Lake City’s brand name.
- Phase 1 Extension and Phase 2: Improved development standards and infrastructure.
- DHA Prism F&C Blocks: Key advantages due to proximity to quality Lake City developments.
Buying and selling opportunities
Lahore is a leading dealer for real estate. Lake City and State Life plans. We provide honest and reliable services for buying and selling plots. Due to ongoing administrative transitions, there may be delays and risks associated with Token Money transactions. We recommend working with trusted dealers to avoid potential problems.
Result
The merger of Lake City and State Life Phase 2 marks a significant development in Lahore’s real estate sector. With better management and development plans, plot holders and investors can look forward to better property values and better quality of life. Contact Lahore Real Estate for more information and assistance.
Important note
The author recommends caution when purchasing properties during this period, as token payments may not guarantee immediate transfer of ownership. It is advisable to work with reputable dealers and consider the risks associated with late transfers.
Read more: https://lahorerealestate.com/state-life-housing-society-phase-1-2/
