Some claim that Capital Smart City is to become the first ever smart city of Pakistan and they have a list of some valid reason to make these claims. According to them, a project cannot be turned into a smart city but conceived on the smart lines and planned accordingly till the very end to fit into the definition. Well, we may be able to see it happening soon because Capital Smart City is soon to be inaugurated officially.
We have collected some fresh details for you about the project that has been attracting regular traffic on Zameen Blog and continuous business for the authorised agents of Capital Smart City.
How well was the pre-launch received?
Plots offered under pre-launch received a roaring response from local as well as overseas buyers. The pre-launch for Overseas Block was held on the 10th and 11th of February, while that of other blocks was done on the 4th of March during Zameen Expo 2018 in Islamabad. You can read complete details about the Overseas Blocks by reading our last blog.
Qazi Investments, a UK based real estate marketing firm, was engaged for the pre-launch of the Overseas Block, while HomeKey Enterprises looked after the pre-launch for other blocks. Except for a few plots in Overseas Blocks, the units offered in pre-launch at attractive rates have been sold out. In fact, those who booked it just recently are now demanding a premium of PKR 50,000 to 100,000 on these plots, for which they have only paid 10% of the total amount as booking price.
If you are concerned about how this huge project will get into shape to reward you with returns that tempt you, please note Habib Rafiq (Pvt) Ltd complete their Royal Orchard project in one and half year starting from scratch. Their strength and expertise can be gauged from the fact that they are also engaged development Defence Housing Authority in Multan and Bahria Town in Karachi, and that’s despite the fact that development has already been started in Capital Smart City, which is yet to see its official launch.
So, if you think developing Capital Smart City in the due time would be tough for the developer, you are perhaps wrong. The real estate marketing firms and agencies authorized to market and sell Capital Smart City believe that the developer has its largest stakes involved in this project and that they are looking forward to seeing the society’s official launch.
The official launch
Our sources claim that the developer is planning to officially launch Capital Smart City by the end of April or start of May this year. The timing has been set according to the inauguration of Islamabad International Airport. The theory behind this timing is to give the right options matching investors’ expectations from this neighbourhood.
It is also expected that the investors looking to make an exit from some projects cashing big profits from the airport’s inauguration may find Capital Smart City apt for reinvesting for even better returns.
Impact on rates
The inventory offered under pre-launch has finished, while the new rate list shared for the next round of booking is higher by 5%. The authorised agents are yet to receive their quota for the new booking and they hope to sell it rather easily this time because even after the rise of 5%, they see existing demand for the project. Here is the payment plan for Capital Smart City’s yet to be announced new deal:
|Plot size||Booking amount||On Confirmation||Quarterly Instalment||Total price|
|5 marlas||PKR 205000||PKR 205000||PKR 140,000||PKR 2,050,000|
|10 marlas||PKR 350,000||PKR 335,000||PKR 235,000||PKR 3,500,000|
|1 kanal||PKR 520,000||PKR 497,500||PKR 350,000||PKR 5,210,000|
|2 kanals||PKR 1,040,000||PKR 995,000||PKR 695,000||PKR 10,410,000|
About this, the developer is yet to finalise the details. Experts, however, believe that per marla rates could be approximately PKR 100,000. The dues will paid according to a payment plan, the duration for which is yet to be decided. These details can be confirmed once officially shared by the developer during the project’s official launch.
Our sources indicate that rate of plot offered on the society’s official launch in the next one or more months will be higher by 10% to 15%, which also means that premium on booked plots will also increase.
We have also learnt that the project site will be open for investors to pay a visit soon after the project is officially launched. By then, they will be able to see boundary wall in place, road work in advance stages on the main boulevard, and ground leveled to do plotting and mapping roads.
So if you believe that Capital Smart City is fit for making an investment in Islamabad’s Zone II, you can seek more information from Raja Shafqat of HomeKey Enterprises by giving him a call at +92-333-539-7771.
The comment section below is open for you to share queries and feedback.