Capital Smart City is a project of Habib Rafiq (Pvt) Ltd
The project has been making waves in the real estate market of Islamabad. The rising interest among property enthusiasts demands that we share an update on what’s happening in Capital Smart City, which is set to become the first smart society in Pakistan, as well as the first ever eco-friendly project rated grade eight in South Asia.
Many aspects of the society combine to make it a popular project among residents of Pakistan and those stationed overseas. Attending to the demand among non-resident Pakistanis, the developer officially launched Capital Smart City’s Overseas Block on February 10 and 11 in the UK.
Capital Smart City is a project of Habib Rafiq (Pvt) Ltd. launched under Special Purpose Vehicle (SPV) of Future Development Holding to minimise risks for investors.
Here are the details that may help you form a decision about investing in this project:
Capital Smart City is a project of Habib Rafiq (Pvt) Ltd , Location
It is located on Lahore-Islamabad Motorway M-2; it also touches Chakri Road in the east and lies fairly close to the planned route of Rawalpindi Ring Road. Reportedly, an interchange on M-2 for Capital Smart City has also been approved.
Most importantly, the soon to inaugurated New Islamabad Airport is also located in the society’s vicinity, and lies at a driving distance of just seven minutes. Here is the location map:
As evident from the existing trade volume, this part of the city has been attracting a lot of investors over the last couple of years. For some of these investors, the time is now close to reap benefits with the formal inauguration of the airport. For many of them, the next place to capitalise on could very well be Capital Smart City. Read on to find out why.
Capital Smart City is a project of Habib Rafiq (Pvt) Ltd ,Project details
Capital Smart City has been approved by Rawalpindi Development Authority, for which the NOC was issued back in November, 2017. The society features all amenities and facilities that have lately become indispensable for modern real estate developments. So the main thing that differentiate it from the existing housing projects is its Smart City features, which are yet to be incorporated in Pakistan. Stay tuned for our next blog explaining features of a smart city, which this very project is envisioned to become.
So far, we do know that the society will have an 18-hole Professional Golf Association (PGA) standard golf course, a China Village, a Holiday Park, an Aviation Village, a Financial Square, health care facilities, Bus Rapid Transit (BRT) system, an Education City, a grand Jamia Masjid, and several sector mosques, and many parks and landscaped areas. Being a smart city, all record and data of all these facilities will be maintained by a Command and Control Centre, which will ensure efficient use of available resources.
Capital Smart City is a project of Habib Rafiq (Pvt) Ltd ,Latest development
Residential plots for overseas Pakistanis were launched in Capital Smart City’s Overseas Blocks on February 10 and 11 on a payment plan spanning three years. The official launch ceremony was held at The Dorchester Hotel, Mayfair London. For marketing plots in this block, the services of Qazi Investments UK have been utilised, as the company is very well-reputed for fulfilling property-related needs of overseas Pakistanis.
Capital Smart City is a project of Habib Rafiq (Pvt) Ltd ,Development status
Development work in Capital Smart City started about two months ago according to its approved map, where Habib Rafiq has deployed the machinery. At the moment, land is being levelled, after which, work on laying society’s road network will begin. The developer is known nationwide for delivery high quality infrastructure, which is evident from their previous developments.
According to sources, the developer is to grant possession of residential plots in three years. In other words, if you book your plot today, you will get property possession by the time your instalments finish.
Here are the latest images taken from the site:
Capital Smart City is a project of Habib Rafiq (Pvt) Ltd, What’s on offer?
Under the new deal, the developer offers residential plots in sizes of 5 marlas, 10 marlas, 1 kanal, and 2 kanals in Overseas Block. While these plots can be purchased by availing a convenient payment plan spanning 14 quarterly instalments, the developer offers a 5% discount on plots booked at 50% of the total price, and 10% off if booked on lump-sum payment.
For plots enjoying a prime location, there will extra charges of 10%, while those located on roads having a width of 100 feet or above can be booking by paying 15% extra. Other charges include a membership fee of PKR 10,000. Here is the payment plan, broken down into quarterly instalments.
|Plot size||Booking amount||On Confirmation||Quarterly Instalment x 12||Total price|
|5 marlas||PKR 195000||PKR 195000||PKR 130,000||PKR 1,950,000|
|10 marlas||PKR 335,000||PKR 335,000||PKR 225,000||PKR 3,350,000|
|1 kanal||PKR 497,500||PKR 497,500||PKR 330,000||PKR 4,975,000|
|2 kanals||PKR 995,000||PKR 995,000||PKR 665,000||PKR 9,950,000|
The amount to be paid on confirmation of plot has to be deposited within 30 days of receiving the confirmation letter, while the quarterly instalments have to be paid by the first of each quarter. Please note, the above-mentioned rates do not include development charges and are also exclusive of taxes and dues imposed by the government.