IN THIS POST:
– Launch of Overseas Prime Block
– Closure of Bookings in Overseas-2
– Launch of Harmony Park Block
– Special Discount Offers, May 2020
– Special Discount Offers, April 2020
– Global Launching Events
– Official Launch Ceremony
– Launch of The Smart Villas
The official launch of Capital Smart City (CSC)—Pakistan’s first smart city—was held at the Serena Hotel, Islamabad, on the 6th of October 2019. Once the project was officially launched, news of the plot balloting for the Overseas and Executive Blocks was later confirmed, with further developments and updates now being anticipated by all interested parties. Since the project has caught everybody’s interest and taken the property sector by storm, here are all the latest updates on Capital Smart City, Islamabad, that you need to know about.
Launch of Overseas Prime Block
Capital Smart City launched its new ‘Overseas Prime Block’ on 22nd September 2020. What makes this Overseas Block stand apart from the rest is that it will be located at the highest elevation in the city, offering views of some of the best features and amenities that CSC is bringing to Islamabad, including the PGA-standard 18-hole golf course.
The Overseas Prime Block or OS Prime will feature residential plots of 7 marla up to 2 kanal. It will have a dedicated entrance from main Chakri Road with residential streets that will be 50 feet wide and surrounded by green areas. The plan is to connect OS Prime with the rest of the city using a range of smart transport options, including hybrid cars, QR coded bikes, and the city’s smart Bus Rapid Transit (BRT) system.
If you are interested in investing in OS Prime, a residential plot of 7 marla is on sale for PKR 32.3 lakh, while a 10 marla plot can be bought for PKR 42.45 lakh. A slightly larger plot of 12 marla is priced at PKR 46.95 lakh. Plots of 1 kanal and 2 kanal can be bought in Overseas Prime for PKR 63.65 lakh and PKR 1.25 crore respectively.
After the launch, a payment plan for Overseas Prime Block has also been released, featuring 3.5-year instalment plans for all of the residential plots for sale. After an initial down payment of 10%, a further 10% is to be paid upon confirmation within 30 days of booking, followed by 42 monthly or 7 half-yearly instalments. The instalment plan can be customised as per your request as well.
Please note that park-facing, road-facing, and corner plots might be charged 10% extra on the total price, based on their plot dimensions, while certain plots on the Main Boulevard might also be charged 15% extra of the total price based on plot size.
As is characteristic of investments in Capital Smart City, a non-refundable membership fee is charged from all investors. As such, people investing in 7 marla plots will need to pay PKR 12,000, while PKR 15,000 will be charged from investors of all other plot sizes in this block. There is also a discount of 5% and 10% on the total price of the plot upon 50% and 100% lump sum payment, respectively.
Closure of Bookings in Overseas-2 Block
Future Development Holdings (FDH) (Pvt) Ltd, the developer of Capital Smart City, has announced a deadline for bookings in some of the blocks:
- Bookings in Overseas-2 Block for both commercial and residential plots will be closed on 22nd July 2020.
- Bookings for 3.5 marla residential plots in Harmony Park will also be closed on 22nd July 2020.
The developer further informed investors via its website and social media page that a balloting date for Overseas-2 Block would be announced shortly after the closure of bookings. We will update this post as we learn more on the matter.
Launch of New ‘Harmony Park’ Block
Capital Smart City has dedicated one block to low cost and affordable housing options. This block was launched near the end of April 2020 and was named Harmony Park. It features both apartments and plots at affordable rates with all the smart features, facilities, and amenities that Capital Smart City prides itself on.
The apartments on sale in Harmony Park are called Villa Apartments, as their exterior looks like a two-storey villa, while the interior is divided into two flats on each floor. These are boutique apartments, built on plots of 3.5 marla and 5 marla, and boasting 1 bedroom and 3 bedrooms, respectively. Both apartment types come with convenient 4-year payment plans.
3.5 Marla Villa Apartments
As per the payment plans announced by the developers, an apartment in a 3.5 marla villa will offer approximately 660 square feet of living space, with 1 bedroom, 1 bathroom, and an open kitchen and living space. The floor to ceiling windows will make the most of the natural light and make this the perfect residence for a small family. The price of a 660 square feet villa apartment is PKR 26.85 lakh, including development charges, with a Capital Smart City membership fee of PKR 12,000.
5 Marla Villa Apartments
The 5 marla villa apartments will be spread over 856 square feet of living space, comprising 3 bedrooms, one of which can be converted into a study or children’s room, as well as 1 bathroom, with an open plan living space and a kitchen. These apartments will also feature floor to ceiling windows for natural light and are perfect for a family with kids. The price of an 856 square feet villa apartment is PKR 36.10 lakh, which includes development charges. The membership fee for this apartment is PKR 20,000.
Payment Plan for Villa Apartments
The 4-year payment plan for both types of villa apartments is broken down into 10% down payment, 10% confirmation, 48 monthly, and 8 half-yearly instalments. You do, however, have the convenience of converting the payment plan into monthly, quarterly, or half-yearly payments based on your preference at the time of booking/down payment. You will get to select your villa apartment upon a 25% down payment, while you will be able to save 2.5% on a 50% down payment or get 5% off on a 100% down payment.
Extra charges are also applicable for corner villas, park facing, and boulevard facing villas, while you will also have to pay extra to book an apartment on the ground or first floor, with the charges varying based on your chosen size. The ground floor apartments of both sizes offer a laundry area at the back of the flat and front door parking space as well.
Harmony Park Block also features affordable 3.5 marla residential plots with a 3.5-year payment schedule. The plots are on sale for PKR 16.10 lakh, with 10% down payment, 10% confirmation, 42 monthly, and 7 half-yearly instalments. While you can save 5% on 50% down payment and 10% on the lump-sum amount, there are extra charges applicable for park facing, main road facing, and corner plots. A membership fee of PKR 7,000 is also applicable at the time of booking. As with the payment plan for the villa apartments, you can convert the plan into monthly, quarterly, or half-yearly payments the time of booking.
You will also need to pay every instalment by the 1st of every month, with a Pay Order or Demand Draft. The confirmation amount for apartments and plots also needs to be paid within a month of the down payment to avoid cancellation. In case of a cancellation, 75% of the booking amount will be returned to you within the next 6 months.
The exact location of this block has not been shared yet, but the developers are planning to release it soon. We’ll update this post for the details as they come in.
Special Discount Offers Amid Covid-19 Lockdown
Future Development Holdings (Pvt) Ltd. has announced several incentives for investors keeping the current pandemic circumstances in perspective. The incentives were published on the company’s official Booking Portal.
Special Discount Offers, May 2020
Initially extending the discounts announced in April up to the 10th of May 2020, FDHL has now announced a Discount Policy that will be applicable from the 11th to the 22nd of May. Accordingly to this amendment, all new bookings will still have a payment plan of 3.5 years, and the membership fee will need to be paid only once on the booking of 3 or more units.
Aside from that, all new bookings of residential and commercial plots on 50% down payment will get a 5.5% discount, and bookings on 100% down payment will be eligible for an 11% discount. Meanwhile, all new bookings of the Smart Villas (not the Villa Apartments) with a 50% down payment will be eligible for a 3% discount, whereas 100% down payment will result in a 6% discount. As before, bookings on 20% of the down payment will make you eligible for choosing the location of your choice on the map upon balloting.
Discount offers for existing members of CSC include a 5% discount on due or outstanding instalments of all residential and commercial plots if you are having trouble paying your dues. Similarly, a discount of 2.5% is being offered on due or outstanding instalments for the Smart Villas. This discounted amount will be adjusted into the next instalments, and the discount can only be availed for up to 3 instalments.
Payment of 50% of the due instalments will also make you eligible for a 1.5% discount on the total price of the unit, while payment of 50% instalments in advance gets you a 5.5% discount on the total price. The discounted amount will be adjusted and reflected on the remaining instalments equally.
Special Discount Offers, April 2020
One of the most prominent ones is the developer’s decision to extend the payment plan for all new bookings by 6 months, giving investors a time of 3.5 years to pay for the property.
Other incentives offered by the company include a discount of 6% over the previous 5% in case of 50% down payment, and a discount of 12% rather than 10% on full cash payments. Moreover, payment of 6 due instalments offers a 3% discount on the overall price of the property, which will be adjusted in following instalments, while paying 6 of the due instalments in advance will guarantee buyers a 6% discount on the overall price of the property.
If you are having trouble paying for your instalments during this time, you can also request a 10% discount on your due or outstanding instalment costs for up to 3 instalments. This move has been taken to provide financial relief to investors during the present crisis, and this discounted amount will be adjusted with the next instalments to follow.
In addition to all of the above, the company has also offered some more incentives for new investors. All new bookings made with 20% down payment will get the opportunity to select the location of their plot or villa on the map at the time of balloting. The previous criteria for this offer were 40% payment at the time of booking, which has now been reduced by half. Moreover, if you decide to book three or more units in Capital Smart City, you will only be required to pay Membership Fees for a single unit.
Please note that this is applicable between 6th and 30th April 2020, and payments will only be accepted if they are made through online banking, pay orders, or cash deposits. All payments and bookings can be forwarded by new and existing clients to the company’s online Customer’s Support Centre.
It is also important to note that the site work, which had been put on hold due to the Coronavirus lockdown, is expected to resume from 14th April 2020 at full capacity.
Global Launching Events of Capital Smart City
Plot balloting for the project has been announced and scheduled for the middle of November, and in the meantime, the developers, FDHL, have been fairly busy. As per their Facebook page, they are currently hosting a number of events in the UK to make it easier for overseas investors and buyers to book a plot in the society’s Overseas Block. Considering that the project offers several features and facilities, investing in Capital Smart City can be a lucrative decision for many. Here’s an overview of the events scheduled for the Global Launches in the UK, all of which are going to be held between 11 am to 7 pm on the dates mentioned below:
Capital Smart City—Global Launching Event at Manchester—20th Oct
The first of these global events was held on the 20th of October in Manchester, at the Crowne Plaza, Manchester City Centre. The event was a huge success, and the project garnered an overwhelming response from Mancunians.
Capital Smart City—Global Launching Event at Glasgow—27th Oct
Held at the Hilton Hotel in Glasgow, which is a city in Scotland, the second global launch introduced the Scottish people to the CSC project on the 27th of October 2019.
Capital Smart City—Global Launching Event at London—3rd Nov
After a grand Scottish welcome, the launch event moved south into the UK, heading to the capital city of London. This event was held at Capital Smart City’s international office inside Stratosphere Tower, Stratford, on the 3rd of November. The event was another booming success.
Capital Smart City—Global Launching Event at Birmingham—10th Nov
The launch tour now hopes to reach crowds and interested investors in Birmingham. The developers will make their way to Central Square on Holliday Street in Birmingham on the 19th of November.
Capital Smart City—Global Launching Event at London—17th Nov
Heading back to the capital on the 17th of November, the final global launch announced so far will be held at the Copthorne Hotel, Slough-Windsor.
The Official Launch Ceremony in Islamabad
Held on 6th October 2019, the official launch of Capital Smart City was much-awaited. People from all walks of life were present at the event taking place at the Serena Hotel, where the Chief Operating Officer (COO) of Future Development Holdings (Pvt) Ltd. (FDHL), Mr. Muhammad Aslam Malik addressed the attendees, declaring CSC to be the country’s first smart city with a dedicated and approved interchange that connected the project to the M-2 (Islamabad-Lahore) Motorway.
The project is being developed in collaboration with Habib Rafiq (Pvt) Ltd. (HRL) and Surbana Jurong (SJ) Singapore and will be the world’s 23rd smart city. FDHL Director, Mr. Jahanzaib Zahid, also addressed the esteemed guests gathered at the occasion, stating that the project plan was unique and was attracting the attention of both private parties as well as government officials. The news confirming the allocation of plot numbers to file holders came from Mr. Mujeeb Ahmed Khan, Deputy General Manager (DGM) Sales & Marketing for FDHL.
Launch of The Smart Villas
Earlier this year, Capital Smart City also launched its ready-to-move villas named ‘The Smart Villas’. The Smart Villas are being developed with the aim to redefine contemporary living while being located just a few minutes away from Islamabad International Airport. The villas are located in both the Overseas and Executive Blocks, being balloted in November, with three styles of construction being offered—Contemporary, Modern, and Georgian.
Features of The Smart Villas
As per the latest updates on Capital Smart City, Islamabad, the villas are futuristic, with a range of fully functional smart features. Here are some smart features that accompany every villa:
- CCTV Indoor and Outdoor Cameras for front and rear view of the property as well as views of all the living areas inside the house. Monitored feed will be conveniently available on the owner’s smartphone, even when they’re travelling halfway across the globe.
- Remote Access to control all the home’s appliances at the touch of a button from your tablet/smartphone/laptop.
- Motion Sensor Alerts via email and SMS to trigger warnings and alert the authorities about suspected intruders.
- Automated Door Locking Systems via an app on your smartphone so that you can remotely open the door for guests, as well as having the convenience of locking the door behind you with just a tap.
- Gas Detection Sensors in all the kitchens, so that a gas leak is detected as soon as possible to avoid loss of life and property.
- A Magic Box that will help you incorporate all kinds of remote controls into a single unit for ease of usage.
- Smart Switches for every light fixture and every appliance so that you can turn them on or off with your smartphone.
- Humidity & Temperature Sensors with real-time detection that connects your phone to your air conditioning unit to adjust the temperature as per your comfort.
- Smart Windows and Doors that are fitted with sensors and alarms to alert you about any attempts being made to break into the property.
The Smart Villas are available for sale in a range of sizes. All three styles of construction are available in 5 marla, 7 marla, 10 marla, 12 marla, 1 kanal, and 2 kanal sizes. The villas contain between 3 to 7 bedrooms, depending on your chosen size and floorplan, with convenient 3-year instalment plans with 12 quarterly payments, aside from the booking and confirmation charges. Road and park-facing villas, as well as corner villas, will be charged extra based on their prestigious location advantages. You can learn more about The Smart Villas in their official brochure online. There are also plenty of plots for sale in Capital Smart City if you want to build your own home.
We’ll continue to add the latest updates on Capital Smart City, Islamabad, to this post as they’re released, so don’t forget to bookmark this page. Subscribe to our newsletter so that you don’t miss out on the most informative posts on Zameen Blog. You can also reach out to us at blog@zameen.com for further queries.
