Is Capital Smart City good for investment right now?

Capital Smart City was launched on September 26, 2018 in the twin cities. The project has been among the few where investment activity continued throughout the dull market conditions. It is believed that the society’s prime location and the sound reputation of its developer, Habib Rafiqe (Pvt) Ltd. are the main reason for such high trade volume. The official launch is expected to bring along another strong tide of demand for property files in the project.

Project details

The society is located on Lahore-Islamabad Motorway M-2 near Thalian Interchange; just 7 kilometres away from new Islamabad International Airport. As per the details shared so far, the society features residential plots in sizes of 5 marlas, 7 marlas, 10 marlas, 1 kanal, and 2 kanals. Capital Smart City is going to be a planned smart city, where the society will be self-sufficient and eco-friendly in terms of energy production and recycling.

You can read our old blog to get the complete project details of Capital Smart City.

Official launch

According to Investate’s Amir Qureshi, Capital Smart City will be officially launched on 26^th of this month. While the project has been around for a while now, where the soft launch was held in both overseas and Pakistan in the past, the official launch is much more meaningful.

A developer can sell projects under its soft launch once its layout plan receives a go-ahead from the respective development authority. On the other hand, the official launch can take place only after the society’s receives NOC for development work and advertisement through print and other mediums.

So, as said by Qureshi, the society is covered from all ends to move forward with its official launch this month.

The ‘illegal’ extension

You must have come across a publication where the Rawalpindi Development Authority declared Capital Smart City Extension illegal. When asked about it, Qureshi revealed that the owner of some 250 kanals of land adjacent to Capital Smart City tried to advertise and sell his land as ‘Capital Smart City Extension’. The society has nothing to do with any extension and it might not need to announce one in the near future as it is yet to see its official launch.

Market demand

The authorised agents for Capital Smart City had an extremely busy first half of the year, where they had to make extra efforts to meet the market demand. According to sources, the inventory for 5-marla plots files have been sold out, while those for 7 marlas and 10 marlas is running out fast, where only 18% and 16% of the launched units respectively are left for sale.

The official launch will bring more agents on board for sale and purchase of Capital Smart City’s plot files, which in turn will increase the market demand. In such a scenario, a premium on sold out plots is expected.

Price trends

The last booking was offered by the developer in May 2018, and the rate for 5-marla plot hasn’t been increased ever since then but these plots have been sold out, its direction in terms of price fluctuation will now be set by the secondary market. Here is the rate of plot files offered by Capital Smart City on an instalment plan spanning three years:

As and when there is further update on the project, we will keep you posted. In the meanwhile, if you have any feedback on the article or any query for us, let us know through your comments.