Is Capital Smart City good for investment right now?
Islamabad is to welcome the official launch of its first smart city, Capital smart city Islamabad on September 26, 2018. Investments on the Project is proceeding in even down market situations. The reasons behind investor’s interest are society’s commercially and environmentally admirable location and firm reputation of its developer, Habib Rafique (Pvt.) Ltd. The official launch of the city expects a bigger wave in this investment activity.
Capital Smart City is located on Lahore-Islamabad Motorway M-2 near Thalian Interchange at a distance of 7 kilometers from the new Islamabad International Airport. The society will be left only 5.5 kilometers away from Islamabad’s Toll Plaza on M-2. According to the shared details, Capital smart city Islamabad is offering residential plots of 5 Marlas, 7 Marlas, and 10 Marlas, 1 Kanal, and 2 kanals. Constructed smart villas are also available in the project. The society will be sustainable and well-controlled where all the communal services will be granted in an eco-friendly manner by the means of numerous technologies.
As told by the Investate’s Amir Qureshi, Capital Smart City will be officially launched on the 26th of the ongoing month. While the soft launch was announced earlier and occupancies were started for both overseas and Pakistani investors, the official launch will be more consequential.
A developer can sell projects under its soft launch once its layout plan receives a green signal from the respective development authority. However, the official launch can happen only after the society receives NOC for its development work and advertisement through print and other mediums.
So, as said by Qureshi, the project has got all the elements of the requirements for its official launch.
The illegal extension
You must know about a publication in which the Rawalpindi Development Authority declared Capital Smart City Extension illegal. On asking about, Mr. Qureshi explained that there are some 250 kanals of land in the neighborhood of Capital smart city. Its owner tried to sell his land as ‘Capital smart city’s extension’ for taking high prices. Society has no take and gives with that land and might not need any extension soon as it is yet to see its official launch.
The demand for booking has been accelerating for half years. The authorized agents for Capital Smart City are making efforts to deal with the high trade volume. According to sources, the inventory for 5-marla plots files has been sold out, while those for 3, 7, 10 Marlas is running out fast, where only 18% and 16% of the launched units respectively are left for sale.
After the official launch, more agents will be there. This will increase the sale and purchase and a premium on sold out plots is expected.
Capital Smart City Prices trend
The last booking was offered by the developer in May 2018 and prices of 5-marla plot were no further increased. However, these plots have been sold out, now the secondary market will set any variation in rates.