Capital Smart City, the fastest developing housing society in Islamabad, has announced the most exciting discount offer for its existing as well as new members. The discount offer will not only facilitate existing members by providing them concession on their dues, it will also provide new investors and end consumers an opportunity to book their plots at lower prices and more favorable options.
The prices of plots and villas of Capital Smart City has been increasing ever since it was launched due to increasing demand and popularity in the real estate sector. Read our detailed article about the evolution of prices and the latest market rates of Capital Smart City. Therefore, the decreased prices due to discount provide an attractive opportunity for investors who want to invest in Capital Smart City. In this article, we provide all the details of the discount offer as well as analysis of its effects on both existing and new members. If you already know about the offer, scroll down to check out the expert analysis and how you can benefit from this offer!
What is the Discount Offer by Capital Smart City?
The discount offer launched by Capital Smart City can be described in two categories:
Discount Offer for Existing Members:
- If you pay a due or outstanding installment between 6th April and 30th April 2020, you get a discount of 10% on the installment amount. The discount will be adjusted in the next installment. You can avail this discount for up to three installments only.
- For example, Suppose you own a file of 5 marla priced Rs. 1,800,000. Then, each quarterly installment is Rs. 90,000. You have ten remaining installments.
- If you pay your due installment of Rs. 90,000 between April 6 and April 30, you will get a discount of Rs. 9,000 on your next due installment. So, your next installment will be Rs. 81,000.
- Similarly, if you pay three installments right now, your next installment will be reduced to Rs. 63,000 after the discount.
- If you pay six of your “due” installments, you get a discount of 3% of total price. This discount will be adjusted in the remaining installments equally.
- You can are eligible for this offer if at least six of your installments are “due” before 30th April 2020.
- If you pay six installments in “advance,” you get a discount of 6% of total price. This discount will also be adjusted in the remaining installments equally.
- You will be eligible for this offer if at least six of your installments are “not due” right now so that you can pay in advance.
- It is unclear whether you can avail two or more of the above offers simultaneously. If you are interested, contact our featured agent, Sahban Tariq Malik, at +92 334 5557734 for more details.
Discount Offer for New Members:
- If you book a plot or villa with Capital Smart City at 50% payment, you get a discount of 6% of total price which was previously 5%. Moreover, if you purchase a file at 10% payment, you get a discount of 12% of total price instead of the usual 10%.
- If you book a plot or villa at 20% down payment, you will be entitled to choose the location of your plot before balloting. Normally, this right is given only to those members who book their plots with 40% down payment.
- Payment schedule of your new booking will be of 3.5 years instead of 3 years.
- If you book three units or three files, only one membership fee will be charged.
- It is unclear if the three units have to be same or not. If not, then which membership fee will be charged as it is different for all sizes.
How does it benefit existing members?
Existing members of Capital Smart City are those who own a file of plot or villa in the society. Following the installment schedule of their file, they have to pay the quarterly installments.
Reduced cost: Bonus! Bonus!
The discount available to existing members serves as a “bonus” as it reduces their payable dues. In other words, your outstanding installments are a liability for you that you have to pay in order to retain and gain complete ownership of your file. The offer of discount on your installment reduces your liability, thus, serving as a bonus.
However, the extent to which you can avail the benefit depends your ability to pay installments during this time period. The recommended course of action at this time is to retain your savings or cash to bear expenses for a couple of months at least. If you can manage to pay some of your due installments, it is a great opportunity for you to reduce the cost of your plot or villa.
How does it benefit new members?
New member is anyone who purchases or books a new file in Capital Smart City. If you purchase a new file, you will be considered a new member even if you already own a file in Capital Smart City.
Greatest Benefit: The right to choose location only at only 20% down payment
The greatest benefit for new members is the right to choose location of the plot. Normally, Capital Smart City grants the right to choose the location on the map before balloting only if you purchase the file at 40% payment or more.
Getting this right at 20% down payment is a great opportunity for investors as well as end consumers. Choosing your location before balloting guarantees that the location of your plot will be good or favorable according to your preferences.
Limited supply: Higher demand, higher prices
The 20% paid files with a right to choose the location will be highly attractive in the market. Choosing the location of your plot before balloting means that you can choose the attractive locations such as facing park, main boulevard, corner and many more. Furthermore, there will be a very limited number of files with such characteristics due to the limited offer, further amplifying the effect of its attractiveness in the market.
Therefore, it is believed that these files will have a “higher profit” as they provide a right to choose the location at a much lower cost. Therefore, it is a great opportunity for investors to purchase files at 20% using this offer, wait for a few months and reap high profits on their investment. It seems an opportunity to make profit during the economic downturn!
Longer Payment Schedule & Shorter Installment: Always a plus
Another great benefit is the longer time span of your installment schedule. The longer the installment schedule, the shorter the installment amount. An installment plan of 3.5 years implies that the installment will be shorter than that of a 3 years plan. A shorter installment is always a plus as it increases the affordability range of end consumers. In other words, shorter installments are more affordable and easier to manage making it more attractive for end consumers.
Moreover, the longer payment schedule and shorter installments will create higher demand for these types of files, especially due to limited supply. The number of files with an installment plan of 3.5 years will be very limited and specific in the market. As already mentioned, shorter installments will increase the affordability range. Consumers who were not able to afford the quarterly installments of a standard file but can manage the new shorter installment amount will demand these files. Higher demand means higher profits. Nevertheless, you might have to wait a little before you you see these effects due to the current pandemic outbreak.
How can you benefit from this offer?