The Capital Smart City project is progressing rapidly with an impressive track record of meeting development deadlines ahead of schedule. Our commitment to creating world-class infrastructure has set new standards that are unmatched and easily observable. We are presently partnering with various international designers, including Surbana Jurong (from Singapore), Harradine Golf, Troon Golf (as Designer and operator), DP Architects (from Singapore), Move ‘n’ Pick Hotel & Resorts, and DSA, to deliver a state-of-the-art project to our fellow Pakistanis.
Despite the adverse effects of the COVID-19 pandemic that halted work worldwide, we managed to deliver on our promises ahead of schedule by utilizing our own financial resources. As a nation, we are also experiencing significant inflation and economic crises, leading to a threefold increase in construction material prices. Nevertheless, we remain optimistic that things will soon improve.
We owe our success to the unwavering support of our clients and sales partners, who have played a crucial role by making timely payments for their purchased properties. In order to meet our development goals, we have had to impose additional charges on members who have been late with their payments. It’s important to note that we haven’t charged any member extra fees in the last five years.
In response to numerous requests from our clients and sales partners, we have decided to extend and modify our policies. However, we expect all members to be responsible and make their payments on time to help us deliver an exceptional project. The management team of Capital Smart City is happy to announce the following policies for our members and sales partners.
CSC Cancelation
Any files from 2018, 2019, or 2020 that were cancelled between 21% to 35% can be reinstated by making a payment of 50% of the total plot amount on or before September 15, 2023. The remaining 50% of the payment must be made by June 30, 2024.
Members can choose to restore files by paying 50% by 15th September 2023 and the remaining amount over the next two years at current rates.
In this case, the member will pay 50% as per the old existing plan, and the remaining amount will be distributed over a 2-year payment plan. In both cases, members are required to submit an affidavit for the plot’s inclusion in the next balloting.
For your reference, new prices (excluding development charges) are provided below:
| Residential Plots | Commercial Plots |
|---|---|
| 05 Marla PKR 3,150,000 | 04 Marla PKR 10,550,000 |
| 07 Marla PKR 4,250,000 | 08 Marla PKR 17,850,000 |
| 10 Marla PKR 5,750,000 | |
| 12 Marla PKR 6,500,000 | |
| 01 Kanal PKR 9,550,000 |
Supercharge
The additional fees for plot or file prices, development charges, and prime location charges have been postponed until June 30, 2024. The management team is pleased to also announce that any surcharges that were previously collected will be refunded to the file holder.
This level of assistance has never been offered by a Pakistani developer to their clients before. However, if a client fails to make their payments by June 30th, 2024, they will be required to pay any surcharges that were previously waived, regardless of whether they appear in the client ledger or not.
It is highly recommended that clients avoid falling behind on their development charge payments.
Transfer Policy
Effective immediately, plots will be transferred as per the below criteria.
Transfer POLICY 2023
(5th Aug. 2023 till 31st Mar. 2024)
- 2017 active plots will be transferred on clearance of all dues.
- 2018 active plots will be transferred on 65% payment.
- 2019 active plots will be transferred on 50% payment.
- 2020 active plots will be transferred on 3 Quarters’ payment.
- 2021 active plots will be transferred on 2 Quarters’ payment.
- 2022 plots will be transferred on 20% payment.
- 2023 plots will be transferred on a 20% payment.
- Opened (before 31-12-2022) non-cancelled Commercial files will be transferred on a minimum 60% payment.
Transfer POLICY 2024
(1st Apr. 2024 till 31st Dec. 2024)
- 2017 active plots will be transferred on clearance of all dues
- 2018 active plots will be transferred on 85% payment
- 2019 active plots will be transferred on 65% payment
- 2020 active plots will be transferred on 50% payment
- 2021 active plots will be transferred on 3 Quarters payment.
- 2022 plots will be transferred on 2 Quarters’ payment.
- 2023 plots will be transferred on a 20% payment
- Opened (before 31-12-2022) non-cancelled Commercial files will be transferred on a minimum 75% payment.
Merger Guidelines
At our company, we strongly believe in never overselling our products. As a result, we actively discourage property mergers. Our advice to all is to invest in properties that allow them to make regular and timely payments with ease.
However, due to numerous requests from various members and sales partners facing financial constraints in the current economic situation, we have decided to extend the property merging facility following the below guidelines:
1) Four cancelled files of the same size & price, whether residential or commercial, can be merged to create a single active plot. The remaining amount can be paid through a pay order. However, an affidavit stating that the merged plot will be included in the next upcoming balloting is mandatory.
2) Seller-free plots can be merged with active files, and cancelled files can also be adjusted with active files.
3) These guidelines apply only to plots purchased between 2018 to 2022. For 2023 files, an authorization letter from the Sales Partner whose name is mentioned on the file is a mandatory requirement