First Possession Announced by Capital Smart City
The capital smart city Islamabad has some great news for the investors and future homeowners. As per the official notification issued from the head office of Capital Smart City Islamabad, the society is planning to deliver possession in selected blocks starting from December 2020. This is a great milestone achievement for the management of Capital Smart City as well as the clients and investors who opted to go with this project. Possession, in layman terms, means that completely developed and ready for construction land plots will be handed over to the owners by the housing society. The possession in the capital smart city is the beginning of a new era for the clients and investors of Capital Smart City. This is also an eye-opener for those who considered buying plot files a waste of time and money. Since the news and notification of possession delivery in Capital Smart City have gathered up some speed, the prices and profits on the Capital Smart City have reacted with exponential growth.
According to the notification of possession issued by Future Development Holding – The developers of Islamabad Capital smart city – the possession is being delivered in stages. The first to get possession in Capital Smart City will be Zone 1 of the Overseas Block. Sector A of the Overseas Block 1 will be the first sector of the whole society to get possession starting from December 2020. This will be followed by Sector B of the Overseas Block 1 in January 2021. In February and March 2021, possession will be announced for sector C and D. The sector E of the Overseas Block – 01 will get possession in March 2021. For the executive block of capital smart city, the sectors A & B will be deemed possession0-able starting December 2021.
According to the management of Capital Smart City, the Covid-19 Pandemic did slow things down for various urban development and engineering teams on the ground. However, the teams worked day and night to achieve their targets and have met them before time since initially it was decided that the possession was to start from December 2020. Also, the management of Capital Smart City, in its possession notification – added that all primary, secondary, and auxiliary infrastructural development work is nearing completion in the blocks that are going to become possession starting December 2020. The infrastructure of roads, metaled local arterial routes, sewerage, fiber optics, Hydroponics Farms, Street Light, Overhead Water Container, School, Hospital, and other civic amenities are almost complete for the blocks getting possession from the end of this year.
As per the developers of Capital Smart City Islamabad, for the sectors becoming possession-able, it is important for the clients to clear their dues in a timely manner to claim it. For instance, if you are allotted a plot in Sector A of the Overseas Block 1, then you should clear your dues by end of November this year. Similarly, for other possession timelines and sectors, in order to claim possession of your residential plot, it is important to clear the dues before application.
The management of Capital Smart City has realized the economic impact that Covid-19 has left on Pakistan. In order to accommodate this, the management has released an easy installment plan for the payment of development charges, prime location changes, extra land charges, and utility charges. This payment can be done in the form of quarterly installments. The notification further added that the utility charges of these plots shall be levied at the time of possession charges payment.
According to the Capital Smart City specialists at Deal & Deals, this is great news for all the investors of Capital Smart City. The society has announced possession in record time and has now become a benchmark to follow for other societies in the area. The market of Capital Smart City plots has already started responding positively to this news and the profit asking an older plot file has increased. In case you are looking to live in the first smart urban settlement of Pakistan, then there is still time for you to buy a plot in the capital smart city Islamabad. You can fill out the form below and one of our investment consultants will get in touch with you as soon as possible to facilitate plot booking.
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