I also know construction costs and current market trends. Nothing has changed after election.
There are brand new 1 kanal houses selling for 1.6-2.2crore in decent areas right now, which you can buy. And maybe negotiate and get a million less on it as well. I've been monitoring property values for about ~10yrs in south lahore. And I can tell you they have been pretty stagnant for last 3-4yrs. The hot cakes are all located to the east(mainly DHA etc) or in the center (gulberg and surrounding areas etc). This is where property prices have gone up through out the last 10yrs. But in other areas, prices have not shot up as much as you say.
property prices are still within reach in places where the bulk of the population lives, and the bulk of the population doesn't live in DHA or Bahria or Askari...they live in model, garden, iqbal, johar etc towns...samanabad, inner city etc etc...and prices there are quite stagnant since few years in these areas except for commercial properties maybe...