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Lahore Ring Road SL 3 Project Approved

Lahore Ring Road SL 3 Project Approved

The government of Punjab has approved the Lahore Ring Road SL 3 Project under PPP mode. The construction of SL-I & SL-II is underway and both will be opened for the traffic on 14th of August 2017. Southern Loop III, SL-III, will be 8.5 Kilometers long and it will connect Adda Plot to Multan Road. SL-III will pass through Medical City and Bahria Town Lahore. Many residential & commercial areas will benefit this road development project as connecting road network will be improved too.

According to Minister for Planning and Development Malik Nadeem Kamran, the construction of Lahore Ring Road Southern Loop will be a significant achievement in mega infrastructure development of Punjab. Southern Loop III has been approved in the 31st Steering Committee (SC) meeting held at P&D Complex, Lahore. According to Malik Nadeem Kamran, this project will help out to ease traffic problems in provincial capital and at the same time many areas will get easy access.

Lahore Ring Road Northern Loop and property market

Northern Loop of Lahore Ring Road completed in 2010. The areas near to Northern Loop of Lahore Ring Road saw massive price rise. Property prices in Paragon City, DHA and Cantonment Area saw many folds increase. In some cases property prices even increased by 200%. The price hike was due to the easy access to once remote areas.

Lahore Ring Road Southern Loop and property market

Southern Loop of Lahore Ring road is under construction and will be completed by 14th of August 2017. Up till now, Southern Loop of LRR has failed to uplift the stagnant property market. One of reasons is the rise in property taxes introduced in the budget 2016-17. But, many dealers say the price rise will be observed once Southern Loop of LRR is fully functional.

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