Built houses as a tool to control residential land speculation - A case study of Bahria Town, Lahore

Abstract

Lahore City, on its way of becoming a Metropolis, has created serious urban problem of inadequate housing. In response to rapidly increasing housing deficit, the Government has now incorporated private developers. In this regard, Bahria Town has emerged as a big real estate brand causing land speculation. Land, which was used to be a resource, has now become a commodity. This paper investigates emerging trends, in the local real estate market by comparing speculation of residential serviced plots and built houses. In addition to that, it will also dig out respective causes and impacts on the price variances particularly in Bahria Town Lahore. The research presents that providing built houses instead of serviced plots in Bahria Town Lahore has been an effective tool in controlling residential land speculation and, hence, directly cutting down the demand for housing.