CAPITAL SMART CITY
There is great news for all the buyers, investors, and business-minded people interested in Capital Smart City, Islamabad. The Capital Smart City islamabad plot ballot for its Overseas and Executive blocks has been announced for mid-November 2019, and while no date has been set as of yet, we will update you on the latest news as it develops. For now, let’s talk a bit more about what terms and conditions apply on the Capital Smart City ballot and plot possession as of the latest updates. We’ll also elaborate on details with respect to the project itself.
CAPITAL SMART CITY PLOT BALLOT
A letter has been issued by Future Developments Holdings (Pvt.) Limited (FDHL)—the developers of this mega project—announcing that they have decided to hand over the project, phase-wise, well before its date of completion, which was originally set for 2022. The decision was taken considering the rapid pace and progress of the development work. Nearly 450 machines are being used by the labour on-site to speed up the development, and three sectors each of the Overseas Block and the Executive Block will be ready for possession by the first quarter of 2020. Possession will then continue on a quarterly basis.
TERMS AND CONDITIONS FOR THE CAPITAL SMART CITY PLOT BALLOT
Keeping the information shared above in mind, balloting of plots for the developing sectors of the Overseas and Executive Block will be held in the middle of November 2019. Here are some of the terms and conditions associated with the plot ballot of Capital Smart City:
- Choose your plot’s location on the map
- Eligibility for overseas and executive block ballot
- Issuance of an acknowledgment receipt
- Last date for the payment of dues
- Possession of plots in Capital Smart City
- Discount on development charges
- Free-of-cost consultation and selection of villa design
- Discount on club memberships
- Warning for unpaid instalments
- Surcharge on late instalments
DETAIL ABOUT TERMS AND CONDITIONS
Let’s discuss each of these terms and conditions in a little more detail to give you a better view of the bigger picture.
CHOOSE YOUR PLOT’S LOCATION ON THE MAP
A view of the site work at Overseas Block B, Capital Smart City is beautiful.
All interested parties who have paid 100%, 50%, or even 40% upfront for their investment in Capital Smart City will be allowed to choose the location of their plot on the map without a location ballot. However, the due installments must be paid by the 15th of October for them to earn this advantage.
ELIGIBILITY FOR OVERSEAS AND EXECUTIVE BLOCK BALLOT
The condition stated above is applicable, in particular, to those who have stakes in the Overseas and Executive Block, as they will only be eligible for balloting if all their due instalments have been paid by 2019 year as per the payment plan for plots in the Capital Smart City. Please note that during the ballot, priority will be given to plot files that were booked before the date of 1st of January 2019.