A Look into Dream Gardens Phase 2 by IMD

A Look into Dream Gardens Phase 2 by IMD

Adequate housing is not only a right of all humans, but it is essential for the growth and development of human society. We work hard from day to night to earn some bread and butter, clothes to wear and a shelter to stay. Among all the needs and wants, the utmost desire of all is an owned house in which one can live happily with his family.

Picking up the same Desire, housing societies & real estate Sector burgeoned in Pakistan from past some years. The Situation is something like that every Public and private entity is starting co-operative housing society. There are several renowned builders and developers like Bahria Town exists in Pakistan, whose projects are now globally recognized. Today I am going to review a famous housing project, which is a joint effort between Izhar constructions and Monnoo Industries, Named Izhar Monnoo Developers which has currently 4 running projects throughout Pakistan. “Dream gardens Lahore” is one of them. Both developers had done DG Phase 1 and their own solo projects before, so it can be surely assumed Dreams Gardens phase 2 is fully designed, built and equipped with the latest state of the art trends and technologies.

Dream Gardens phase 2 is located at prime location of defense road, opposite the Comsats university of Lahore. As stated on the website, it was built with an idea to provide middle class with a reasonable living with all the facilities and features that an individual can desire. Total area of the land is 4000-Kanal of which 600-Kanal phase 1 was planned with approximate 850 plots and houses. After the success of phase 1, phase 2 is planned and designed for the remaining part of the land and it is ready to be launched in the next few months.

What Dream Gardens offers to its customers is considerable as there are 3,5,6,8,10 and 12 Marla plots and houses at affordable rates. At the opening of phase 1, In 2011, 1 Marla was selling at a rate of 2 lacs, but current rate is 6 lacs per Marla. This constitutes the value of the land in question. Its Location contributed to the rise of value as it is situated on raiwind road, having many renowned educational institutes like Comsats university and university of Lahore at few minutes’ drive and hospitals at walking distance.

What distinguish Dream Gardens from others is that their land is not on the lease. The Monnoo family owned the land, and after getting approval from LDA they started road development and parks which increased customer’s attention towards the projects due to its eye catching view. Another competitive advantage of owning the land was they didn’t have to do balloting so instead of that they sold the plots on first come and first get basis. Their flexible payment schedule was one of the key differences that made them most trusted sellers among the candidates of the land. In Dream gardens phase 2, they are planning to facilitate their customers with a more relaxed payment schedule consisting 4,5 year installment plan.

However, as nothing is perfect, there are also some disadvantages and threats attached with location of dream gardens. The main Drawback of location for Dream Gardens is that, it is situated near and between industries, specifically production units. Polluted air, heavy noise and wastes of industrial operations somehow affect the environment of Dream Gardens. Another disadvantage is that Dream Gardens is situated in a place that is very far from the inner Lahore (Old city) and also from commercial areas. However, after building a large commercial complex, Mosque and an additional Pak Turk School within the premises of Dream Gardens they somehow tried to overcome and control the missing factors.

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