Well, today we are to talk about whether the project Park View Villas is approved by the concerned authorities, such as; LDA or not.
But first, there are a few things about this project everyone should know. Firstly, It is a project owned by Vision Group. Secondly, allow us to tell you that Park View Villas and Park View City Lahore are two different projects. This is something many don’t know that causes a lot of confusion.
Moving on to the question for which you are here, the answer is below:
Park View Villas Approved by LDA or Not?
Park View Villas is a project that is gaining a lot of popularity due to its name. However, we’d like to inform you that this project is not yet approved by the Lahore Development Authorities.
This information might discourage many as investors prefer to be a part of a legal project. But we think that you don’t have to worry much. The project is of known developers. They have delivered multiple projects in the past and all are approved by the concerned authorities.
Moving on to Park Villas the management of this project is taking every necessary step to get the NOC. And they are quite confident that soon they will be approved and have legal notice.
Risks of Investing in an Unapproved Real Estate Project
When someone invests in real estate that is not approved by the concerned authorities, a lot of risks arise.
- Firstly, the chance you lose all your investment sooner or later is high.
- Secondly, there is the possibility that you invest in a property to generate passive income. However, whenever you look for a tenant, there is a possibility you fail to find one. Because tenants don’t prefer to live in a housing project that is not approved by the authorities. The reasons are many such as here they can face electrical, gas, and water issues. These are a few of the things that are considered necessary in life.
These are very few of the many risks that we have told you. However, along with the illegal status, there are many other things that matter. Such as location, developers, and the master plan of the housing scheme.
Now these are the features that are all correct when it comes to Park View Lahore Villas. The developers are known, the location is prime and even other available amenities are top-notch. So, as an investor, it is you who has to think whether to trust them or not.
Now that you know the Park View Villas are not approved by the LDA. Even if we try to convince you that soon it will acquire its approval, are you convinced? If not, we understand your concerns. To buy a property, a lot of investment is required. So investing it in a project that is not yet approved is a huge risk.
So, in the end, the decision is all yours. But if you need professional help of any kind, experts are always available for your assistance.