Capital Smart City – All About Prices
Capital Smart City, claimed as the first smart city of Pakistan, is being developed by Habib Rafiq Private Limited (HRL) and Future Development Holdings Ltd. (FDHL) about 10 KM from the Thalian Interchange at the Lahore-Islamabad Motorway M-2. To find out more about Capital Smart City, visit our web-page Capital Smart City or read our latest blogs and market news about Capital Smart City. In this blog, you will find all the payment plans of Capital Smart City, new and old, and the latest market price of most popular files. The payment plan of Harmony Park block launched by Capital Smart City is also available.
We have updated the market prices of Capital Smart City files to reflect the latest profits in March 2020. Check out the new price list!
Market Rates of Most Popular Files of Capital Smart City
In this section, we present the latest market rates and profits prevailing on the most popular files of Capital Smart City. Here is a summary of the current market prices of Smart City files as of March 2020.
Current Market Prices - Capital Smart City - March 2020
|Size||5 Marla||7 Marla||10 Marla||1 Kanal||4 Marla |
|8 Marla |
|Total Price (PKR)||1,700,000||2,590,000||3,600,000||5,400,000||5,600,000||11,200,000|
|Paid||340,000 (20%)||518,000 (20%)||720,000 (20%)||1,080,000 (20%)||1,120,000 (20%)||2,240,000 (20%)|
|Additional Notes||Installments to be paid for transfer of Commercial|
|Block||General / Executive||General / Executive||Overseas||Overseas||General / Executive||General / Executive|
|Special Power of Attorney |
Important Notice: According to the latest transfer policy by the company, a few installments have to be paid by the buyer to transfer the commercial file. Earlier, first transfer files were being transferred even when 20% dues were paid. Effective from last month, a few pending installments also have to be paid to purchase a commercial file of 4 marla or 8 marla.
We first published the market price data in November, 2019. So much has changed since then, affecting the prices of the most popular housing society in Islamabad. The first balloting of overseas and executive blocks took place in December 2019. Moreover, the development work is taking place at a rapid pace. Many real estate experts believe that the pace of development work at Capital Smart City is the fastest among all new societies. Check out the development work updates of Capital Smart City here.
After the balloting in December 2019, there are two types of files in the market, balloted and unballoted. Both types of files are being traded in the market. The price of balloted plots depends on the location, therefore, please contact us to get details if you are looking for a specific balloted file or plot with a specific location.
Due to the ongoing development and market news related to the project, prices keep changing according to the demand and supply.
So, here is the old price table corresponding to November 5, 2019 for comparison with the new rates.
Current Market Prices - Capital Smart City - November 2019
|Size||5 Marla||7 Marla||10 Marla||4 Marla |
|8 Marla |
|Total Price (PKR)||1,700,000||2,590,000||3,600,000||5,600,000||11,200,000|
|Paid||340,000 (20%)||518,000 (20%)||720,000 (20%)||1,120,000 (20%)||2,240,000 (20%)|
|Block||General / Executive||General / Executive||Overseas||General / Executive||General / Executive|
|Special Power of Attorney |
As you can see from the comparison, market prices of Capital Smart City change within days, so hurry to get yours at the current rates. Fill out the following form to get more information or to talk to our featured agent, Mr. Sahban Tariq Malik, who is an authorized agent of Capital Smart City.
You can also contact us right now by simply sending a WhatsApp message to Islamabad Projects with a single click.
Scroll down to see the complete payment plan of Capital Smart City! ⇓
Harmony Park Block
Capital Smart City has launched a new block called Harmony Park that offers residential plots of 3.5 marla, commercial plots of 2.5 and Villa Apartments of 3.5 and 5 marla.
Residential Plots in Harmony Park Payment Plan
The price of 3.5 marla residential plot is 15 lac Pakistani rupees (Rs.1,500,000) and is available at the easy installments of 3.5 years. Click here to find all the details about 3.5 marla plots brought by Capital Smart City.
The deadline for booking of 3.5 marla residential plots is 22nd July 2020.
Under the name The Villas, the society is offering affordable housing that is accessible for everyone. Each villa is divided into three separate portions with one house on one floor. Thus, one villa can be purchased by three families. The price of 3.5 marla villa apartment starts from 26 lacs 85 thousand Pakistani Rupees (Rs.2,685,000), with one bedroom, one bathroom, living room and a kitchen.
The price of 5 marla villa apartment starts from 36 lacs 10 thousand Pakistani rupees (Rs.3,610,000). Each 5 marla villa apartment consists of two beds, one child bed, one bathroom, living room and a kitchen. Check out all the details including pricing, floor plans, 3D model, payment schedule about The Villa Apartments here.
Commercial Plots in Harmony Park Payment Plan
After the success of 3.5 marla residential plots, Capital Smart City launched 2.5 marla commercial plots. The 2.5 marla Commercial plots by Capital Smart City were an instant hit and were selling at a profit of Rs.300,000 within a few hours of being launched. Read more about why there was a huge profit on newly launched files.
Sign up to be contacted by our featured agent, Mr. Sahban Tariq Malik, who is an authorized agent of Capital Smart City. Please mention the type of plot or villa you are interested in. You can also reach us at +92 334 5557734.
Capital Smart City: The Dynamics of Prices
Capital Smart City had quickly gained popularity ever since it was first launched in mid-2017. Their overseas block, especially 5 and 10 Marla residential plots, sold out within a few months as soon as it came into the market in January 2018. Moreover, the 4 Marla commercial plots of Capital Smart City were also received enthusiastically by the market. Due to the rapidly increasing hype in the market, FDHL kept on increasing the prices of residential plots from time to time. For example, the price of 5 marla plot increased from Rs.17 lacs to Rs.24.1 lacs.
Under-pricing Strategy by Capital Smart City
Capital Smart City has been following an underpricing strategy for all of its products. The society launches new commercial or residential plots at very reasonable rates sometimes below the market price. A classic example is the recent launch of 3.5 marla residential and 2.5 marla commercial plots in Harmony Park block of Capital Smart City. The 3.5 marla residential plot was below the market price by Rs.30,000 and the 2.5 marla commercial was underpriced by Rs.350,000 per marla.
Since the number of plots available for booking are limited (the supply is limited), high demand causes the market prices to increase. This results in “profits” on the old files floating in the market for resale. Due to the same phenomenon, both plots mentioned above saw an instant hit and high demand. As a result, the market profits increased within days, hours in case of the commercial file. Read our article “Capital Smart City Launches 2.5 Marla Commercial Plot – The hype is crazy!” for a deeper analysis of the instant profit.
After the initial lower price has created a hype and some sales for the company, Capital Smart City also increases the list price or booking price of the plot. Since the market believed that the plot was underpriced, the demand does not vanish even after the company increases booking price.
What does the increase in list price by the company indicate?
The good news is that it does not affect the existing members of the society. For instance, suppose the company increased the price of 5 Marla plot from Rs. 17,00,000 to Rs. 18,00,000. If you have purchased a 5 Marla plot at the total price of Rs. 17,00,000 (or Rs. 1,700,000), your payment plan remains the same as the one printed in your file.
If you are a prospective buyer, you can purchase a new booking from the company at the new list price of Rs. 18,00,000. Alternatively, you can also purchase an “old” file – priced at Rs. 17,00,000 – that is already in circulation in the market at a profit.
If you purchase the old file, you pay all the submitted dues to the seller and any remaining dues to the company. In addition, you also pay the profit to the seller. The profit, also known as “Own” in the real estate sector, is the price of a circulating file.
So, what is the benefit of purchasing a file at the old rate if you are to pay a profit on it?
Firstly, the initial investment, including the existing dues and profit collectively, might still be lower than the new price. This is the case currently after the official launch of Capital Smart City. Click here to check out the consequences of the Capital Smart City’s Launching Ceremony on existing and new members.
Secondly, the quarterly installment of the old file will be lower than the installment on the new file. As already mentioned, this is because the change in list price does not affect the payment plan of existing files.
On the downside, however, you may be able to get a discount on the new booking if you chose the right real estate agent for the transaction. Tip: An authorized agent of the society is more likely to give you a discount on the new bookings.
However, we advise you to choose your real estate agent based on their services and after-sale services rather than the one-time discount offered. Your real estate agent is the one who would protect your interests in the changing market dynamics. An authorized agent is likely to give you the most suitable advice depending on the market dynamics. Check out our blog on why you need a real estate agent to make your transactions smooth and secure!
Capital Smart City Payment Plan – Historical
The price lists of Capital Smart City at various points in time are given below.
Harmony Park (April 2020)
For more information, feel free to contact our featured agent, Sahban Tariq Malik from Beacon Investment who is an authorized agent and diamond partner of Capital Smart City at +92 334 5557734. For more such latest updates, don’t forget to follow the Facebook page of Islamabad Projects.