Capital Smart City latest development charges and surcharges policy

Capital Smart City emerges as a swiftly progressing venture consistently surpassing development milestones well in advance of set schedules. This unceasing commitment to speedy progress and top-tier infrastructure sets an unprecedented benchmark, which is readily observable.

Revised Policy

Within the latest policy framework of Capital Smart City Islamabad, there are delineated guidelines specifically catering to the esteemed members of the Capital Smart City community.

In the present scenario, robust collaborations are underway with a multitude of international designers, including:

• Surbana Jurong from Singapore
• Harradine Golf, serving as both designer and operator
• Troon Golf, engaged as both designer and operator
• DP Architects, a renowned entity from Singapore
• Move ‘n’ Pick Hotel & Resorts
• DSA

While challenges may persist, an air of optimism prevails, inspiring confidence in the future.

Responding to a myriad of requests, we stand ready to extend and facilitate our policies. Capital Smart City’s management is fully prepared to provide the following policy benefits to our valued members and esteemed sales partners.

Plot Transfer Policy 2023-2024

To ensure the optimal outcomes of the Capital Smart City project, the transfer of plots will adhere to the following criteria:

• Plots categorized as “active” from 2017 will be transferred upon the settlement of all outstanding dues.
• “Active” plots from 2018 will be eligible for transfer upon payment of 85% of the total amount.
• For “active” plots from 2019, transfer is possible upon payment of 65% of the total amount.
• “Active” plots from 2020 can be transferred upon payment of 50% of the total amount.
• “Active” plots from 2021 are transferable following a payment of 3 Quarters.
• “Active” plots from 2022 can be transferred with payment of 2 Quarters.
• Transfer of “active” plots from 2023 requires a 20% payment.

Moreover, Commercial files that were opened (before 31st December 2022) and have not been canceled can be transferred upon payment of at least 75% of the total amount.

See Also: CDA Greenlights Annual Budget for 2023-2024

Merger Guidelines

Both residential and commercial sectors may witness the merger of four canceled files into a single active plot. Plots devoid of any prior seller can amalgamate with active files, while canceled files also have the option to merge with active ones. A crucial prerequisite for any merger is that the sales partner’s name must already be associated with the file.

Cancellation Policy

Capital Smart City introduces a cancellation policy. Files from 2018, 2019, and 2020 that were previously canceled within the range of 21% to 35% can be reinstated by submitting 50% of the total plot amount by September 15, 2023. The remaining 50% payment must be settled by June 30, 2024.

Surcharges Policy

The application of surcharges on plot/file prices, development charges, and prime location charges has been deferred until June 30, 2024. This noteworthy gesture is being made by the management as a demonstration of goodwill.

Conclusion

Responding to a variety of appeals, Capital Smart City is committed to extending and streamlining our policies. Furthermore, we extend the charges and surcharges policies to our members and sales partners, fostering a collective pursuit of effective results. While challenges persist, an undercurrent of optimism drives us forward, nurturing the belief that better days lie ahead.