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As the public understands that this blog is all about real estate, today, the Capital Smart City project will be the primary topic. It is, of course, a state-of-the-art initiative known in Pakistan as a ‘Smart City.’ It is one of Asia’s fourth-biggest ventures.
Furthermore, it has become one of Pakistan’s most popular residential communities. Thanks to its advanced characteristics. It is on the Lahore-Islamabad M-2, opposite the new International Airport in Islamabad.
Figure of Amazing View of Capital Smart City Project
Before investing in Capital Smart City, you need to go through a few of its characteristics. Here you go!
What is Capital Smart City?
Capital Smart City is one of the state-pf-the-art projects. It is one of Pakistan’s first smart cities recognized as Capital Smart City. It is the 23rd smart city all over the world. Specifically, Capital Smart City aims to become the twin cities’ most enticing development.
Likewise, it is indeed a proud project of the Future Development Holdings (Pvt) Limited (FDHL), in cooperation with Habib Rafiq Limited (HRL) and Surbana Jurong (SJ).
Smart City Capital is a big state-of-the-art Pakistani residential project. It is one of the smart city in all over Asia, and the 4th one in Pakistan. Because of its crafty features, it is becoming one of Pakistan’s most successful housing schemes.
Similarly, it is situated on the Lahore-Islamabad M-2 Motorway near the new Islamabad International Airport.
As a smart city, it practices Advanced Information and Communication Technology to enhance productivity & services further. Therefore, successful participation is indeed guaranteed. In particular, this super housing scheme aims to increase living standards and to promote regional economic development.
Figure of Beautiful View of Society’s Mosque
How investors get the benefit?
Capital Smart City also makes itself a hub for investors. Thanks to its legal framework, means of production, and compelling business opportunities. The project is sure to prove to be one of the leading centers for economic work throughout the region once it is operational.
It is currently thought to be the first shopping center in the area. More than 90,000 jobs will be created with the help of modern commercial centers of Capital Smart City.
The following project primarily introduces innovative ideas in the real estate sector to ensure a sustainable future. Capital Smart City is promising to provide its residents with luxury yet comfortable lifestyles through advanced technology and a unique infrastructure. Simply put, it will be a significant achievement for investors.
About Owners and Developers
FDHL is a registered group entity under the 1984 Company Ordinance. To form this company, many domestic and foreign business organizations have been brought together. FDHL is a blend between China Liaoning International Economic and Technical Cooperation Group Corporation Ltd (CLIC) and Engineering Dimensions (Pvt.) Limited (EDL).
So, these are the two leading leadership and technical skills cooperation.
Likewise, Rafiq Pvt Habib. Ltd is a Pakistan-based design and development company responsible over the past 50 years for some of the most renowned architecture and engineering projects. The project’s achievements were the direct outcome of pure determination and commitment to their requests and expectations for consumers both in Pakistan and abroad.
Finally, thanks to the quality control method, it has also achieved ISO 9000 certification.
Surbana Jurong (SJ) is a respected Singapore-based consulting company. SJ has a worldwide workforce of more than 16,000 staff across over 120 offices, including architects, planners, designers, engineers, and other professionals. It is currently a leading Asian urban, architecture, and technology consultancy company.
In designing Capital Smart City’s master plan, a coherent planning approach was developed. The strategy provides an exclusive selection of programs to meet emerging facets of culture in the industry, housing, and entertainment.
Figure of Project by HRL, SJ, and FDHL
Location of Capital Smart City
Capital Smart City is situated in the neighboring zone of Islamabad & Rawalpindi city. The New Islamabad International Airport is a 5-minute drive towards the north. Besides, BRT access to the airport would also be easily accessible. It is near to many other housing societies like Blue World City, Park view City. The steadfast exchange of motorways has also been authorized. Eventually, the Capital Smart City location is located at the eastern route of the China Pakistan Economic Corridor (CPEC).
Furthermore, the location is said by perfectly situated, particularly for investors and investment-based opportunities.
Figure of Close Vicinity Areas Nearby Overseas Block
Capital Smart City offers its residents a unique and contemporary living standard to relish luxurious life beauties. The salient features are as follows;
- Environmentally friendly smart city
- Upgraded security and surveillance
- Green and hygienic environment
- Metro bus program
- Underground electricity
- Nonstop supply of water, gas, and electricity
- Availability of smart apps, such as for traffic, power, internet, and others
- Hotels, shopping centers, and also sport centers
- Smart and contemporary housing procedures
- World-class infrastructure
- Overseas sector
- Praying areas, parks, lakes, and ponds
- Leisure goings-on
- Hotels and resorts
- Chosen interchange from M-2
- Close vicinity to major cities Islamabad and Rawalpindi
Figure of Integrated BRT System
Master Plan of Capital Smart City
Capital Smart City Master Plan Islamabad is based on a Township Model Approach. It will be an environmentally friendly city with Grade 8 growth and development.
The natural scenery accounts for more than 30 percent of the overall region. Capital Smart City is exceptional in that no natural possessions in construction work are disturbed or lost.
The business consists of 55,000 Kanal of land in total. The broad region is also reserved for further development. Besides, the master plan will soon contain several more blocks. The following blocks are included in the Capital Smart City Master Plan:
Figure of Master plan of Overseas Block in Capital Smart City
Overseas Blocks in Capital Smart City
The overseas block is reserved only for overseas people. However, the leader in launching the entire international block is Capital Smart City. It provides a beautiful location and also impressive amenities. It is the most wanted home and investment destination for most of the people of Pakistan.
On the banks of the main boulevard, the Capital Smart City Overseas Block will be situated. The other key factor for your plot’s reservation at the overseas block is prioritizing a grant basis.
Figure Land Use in Overseas Block
Launch of Overseas Block
The overseas block is being launched with a range of residential plots from 7 Marla to varied Marla plots. It is carefully built to ensure that its future customers are easy to live in. The culture will have a range of advanced characteristics of its kind.
The block’s place is set at the highest point in the society and will offer a complete view of the Capital Smart City and views of the coastlines, the mountain range, and the 18-hole golf course.
Figure of Expanding Green Identity
Exact Location of the Overseas Block
Capital Smart City’s Overseas Block is built in the upper field on the right side of the housing scheme’s main boulevard, adjacent to Motorway M-2. Also, the Overseas Block will be immediately accessible through the dedicated motorway exchange.
Figure of Integrated Road Network
Categories of Plot Categories in Overseas Block
Several blocks are designated to the Overseas Blocks for the emigrant people living in Pakistan. The categories consist of 5 Marla, 7 Marla, 10 Marla, 12 Marla, 1 Kanal, and 2 Kanal plots that will be accumulated to overcome Overseas Pakistanis’ concerns.
Figure of Categories of Overseas Block
Overseas Block Payment Plan
How will quarterly installments be paid out?
Terms and Conditions
- There will be prime location charges if the beneficiary wants to book a plot at a customized site, such as facing a park, corner, or main road. Each category will charge 10 percent extra of the overall price.
- There will be exclusive prime charges for the beneficiary’s location who wants a plot near the main boulevard. It will cost 15 percent of the overall price.
- The payment, as mentioned above schedule comprises 36 months of the quarterly installment plan.
- There will be a 10 percent refund on lump-sum payment, whereas a 5 percent refund will be given 50 percent of the overall payment.
- The membership fee will be up to 12,000 PKR for the plot category of 7 Marla and onwards. In contrast, it will be 15,000 for the plot category above 7 Marla.
- Installments must be deposited by the 1st of every quarter.
- The prices, as mentioned earlier, were exclusive of development charges, taxes, and government dues.
- The pay order/DD will be deposited in favor of “Future Development Holdings (Pvt) Limited.”
Why Invest in Capital Smart City’s Overseas Block?
In the Capital Smart City housing project, the overseas block has significant importance. It reflects gratitude and acceptance of all of Pakistan’s hard labor and sacrifices for our country from people living abroad.
Capital Smart City gives Pakistani people living in other areas of Pakistan a secure and productive place to invest in their hometown.
For the people wishing to invest in this project from anywhere they work, online reservations are made available to make the process as simple as possible.
Investors Profiting by Investing in Capital Smart City
How to book a plot in Overseas Block?
You can easily book plots in an Overseas block of Capital Smart City. You will be only needing these documents to reserve the plot in the Overseas Capital Smart City block. The documents are;
- Two photographs in passport size
- Two photocopies NICOP
- Two photocopies of the next kin/candidate ID Card
- The booking amount of the plot
Possession of Overseas Blocks
Finally, the Overseas Block 1 ownership schedule and other sectors of Executive Block 1 have been publicized by Capital Smart City. The organization will continue to acquire members that have cleared up all unpaid dues in December 2020.
Possession of Overseas Block 1
Started at the beginning of 2018, Block 1 is set for ownership in December 2020, which means less than two years after reservation.
Additionally, acquisition in two years against a 3-4-year payment schedule is a significant achievement for the Capital Smart City management and would set new benchmarks in the Islamabad real-estate industry.
The expected ownership time of Overseas Block 1 was expected in the first quarter of 2020, but due to Covid-19, it was postponed, and the sector looked forward to getting a regular update towards the new date.
Finally, the Overseas Block-1 possession schedule has been released, and we expect that it will again have a substantial positive in the overall market effect.
Schedule of Possession of Overseas Block 1
- The possession is transferred as per the sector.
- Overseas Block 1 Sector A is expected to be inaugurated in December 2020.
- In the months to come, by April 2021, sectors B to E will also be issued gradually.
- Such members will be excluded who have any unpaid duties until the specified time to qualify for possession.
- You must remove all unpaid duties before 30th November 2020 if you have a plot in Sector A and apply for possession by December 2020.
Check out the schedule in the below table;
In the Overseas blocks, Capital Smart City has announced the ownership timetable for residential plots beginning from December 2020. For more specifications, please refer to the schedule above.
- Sector A to E Overseas Block-1
If you have a plot in one of these sectors and have cleared all pending duties, you are entitled to apply for possession as planned.
The fees and payments owed for ownership can be outlined in the following points:
- Clear all remaining liabilities within the month of ownership before the time limit.
- Pay the utility charges till the time of possession.
- Must pay the construction fee, additional property fee, and prime site fee in the first four-quarters of your ownership entitlement.