Capital Smart City—Get the Latest Updates Here!

 

On October 6, 2019, the Serena Hotel in Islamabad hosted the formal opening of the Capital Smart City (CSC), Pakistan's first smart city. After the project was formally launched, news of the plot public voting for the Export and Executive Block was verified, with all interested parties now anticipating future developments and updates. Since the project has piqued everyone's curiosity and taken the property business by storm, here are all the newest Capital Smart City, Islamabad, developments you should be aware of.

On September 22nd, 2020, Capital Smart City debuted it’s new 'Overseas Prime Block.' This Overseas Block will be placed at the highest height in the city, affording vistas of some of the greatest features and facilities that CSC is bringing to Islamabad, such as the PGA-standard 18-hole golf course.

The Overseas Prime Block, or OS Prime, will have residential plots ranging from 7 marlas to 2 Kanal. It will include a separate entrance on Chakra Road, as well as 50-foot-wide residential lanes surrounded by greenery. The city's smart Bus Rapid Transit (BRT) system will be used to link OS Prime to the rest of the city.

If you want to invest in OS Prime, a 7-marla residential property is available for PKR 32.3 lakh, while a 10-marla plot is available for PKR 42.45 lakh. A somewhat bigger 12-marla plot costs PKR 46.95 lakh. Overseas Prime offers plots of one and two Kanals for PKR 63.65 lakh and PKR 1.25 crore, respectively.

Following the introduction, a payment plan for Overseas Prime Block was also launched, with 3.5-year installment plans available for all residential plots for sale. Following a 10% down payment, a further 10% must be paid within 30 days of booking confirmation, followed by 42 monthly or 7 half-yearly payments. The payment plan can also be tailored to your specifications.

Please keep in mind that park-facing, road-facing, and corner plots may be charged an additional 10% of the total price depending on their plot dimensions, while select plots on Main Boulevard may be charged an additional 15% of the total price based on plot size.

All investors are charged a non-refundable membership fee, as is typical with Capital Smart City investments As a result, investors in 7 marla plots will be taxed PKR 12,000, while investors in all other plot sizes in this block would be charged PKR 15,000. There is also a 5% and 10% reduction on the total price of the plot for a 50% and 100% lump sum payment, respectively.

CLOSURE OF OVERSEAS BOOKINGS-2 BLOCK

The developer of Capital Smart City, Future Development Holdings (FDH) (Pvt) Ltd, has given a date for bookings in some of the blocks:

·       Bookings both for commercial and residential plots in Overseas-2 Block will conclude on July 22, 2020.

·       Reservations for 3.5 marla home plots in Harmony Park will likewise conclude on July 22, 2020.

The company also told investors through its website or social media page that a polling date for Overseas-2 Block will be announced shortly after reservations closed. This page will be updated when we learn more about the situation.

LAUNCH OF NEW ‘HARMONY PARK’ BLOCK

Capital Smart City has set aside one block for low-cost and affordable housing. This block, dubbed Harmony Park, was inaugurated around the end of April 2020. It offers both apartments and plots at reasonable prices, as well as all of the smart features, services, and amenities that Capital Smart City is known for.

The Harmony Park apartments for sale are known as Villa Apartments because its front resembles a two-story villa, while the inside is divided into two flats on each level. These are boutique residences with 1 bedroom and 3 bedrooms on plots of 3.5 marlas and 5 marlas, respectively. Both apartment styles are available with four-year payment options.

3.5 MARLA VILLA APARTMENTS

According to the developers' payment plans, an apartment in a 3.5-marla villa would have around 660 square feet of living space, with 1 bedroom, 1 bathroom, and an open kitchen and living space. The large windows will maximize natural light, making this the ideal home for a young family. A 660-square-foot villa apartment costs PKR 26.85 lakh, including building expenses, and a PKR 12,000 membership fee in Capital Smart City.

5 MARLA VILLA APARTMENTS

The 5 marla villa apartments will have 856 square feet of living space and will have three bedrooms, one of which can be converted into a study or children's room, one bathroom, an open plan living area, and a kitchen. These apartments will also have floor to ceiling windows for natural light, making them ideal for a family with children. A villa apartment of 856 square feet costs PKR 36.10 lakh, which includes development charges. This apartment's membership fee is PKR 20,000.