- December 24, 2020
- Posted by: admin
- Category: Capital Smart City
The Capital smart city Islamabad has announced the possession of the residential plots for those occupants who bought their plots in the first balloting. The first balloting was held at the capital smart city on December 21, 2019. The possession is announced on 14 October 2020 for the residential plots in the Executive and overseas block.
As the innovative mega project has achieved a level of popularity because of its extraordinary features and development. The first balloting recorded an immense public interest in the housing project and many investors of different parts of the country booked their plots at the occasion. Investors belong to every sector and status took a deep interest in the Capital smart city and tried to take the benefits with the balloting by booking their residents.
According to the latest update, the development in the whole society is going on at a speed. Moreover, the construction of overseas block is on priority as it is located in sector 1 of the society. Most of the sectors of overseas block are in an advanced stage of development. The infrastructure of drainage, roads, electricity, sewerage, fiber optics (for IoT and smart city services, hygroscopic organic food farms and street lights), Mosque, overhead water tank, hospital building, school building, and commercial buildings are near to their completions.
All the plots were offered on an easy 3-4 years payment plan as well as full payment. The amount excludes development charges. As per the letter issued by Future Development Holdings the owner and development of the society, possession will be granted to all the occupants who will clear their dues. They released a complete-time plan for the investors about possession. The possession was decided in April However due to the uncertain condition of the Covid19 pandemic, it was delayed. The officials have announced it in October.
Consider the complete details of the sectors and possession timeline in the below table.
|Sr. No||Block||Sector||Possession Starts from||Dues clear up to|
|1||Overseas block 1||A||December 2020||30 Nov 2020|
|2||Overseas block 1||B||January 2021||31 Dec 2020|
|3||Overseas block 1||C||February 2021||31 Jan 2020|
|4||Overseas block 1||D||March 2021||29 Feb 2020|
|5||Overseas block 1||E||April 2021||31 Mar 2020|
|6||Executive block 1||A||Grand Commercial Area|
|7||Executive block 1||B||December 2020||31 Nov 2020|
In order to facilitate the members, the following categories will be extended.
- Members who apply for possession after clearance of outstanding installments within possession month will be allowed to pay development charges, Extra land Charges, Prime Location charges in 4 quarters. Extra land charges and prime location charges supposed to be paid in one go but owing to current economic conditions, management has decided to split the payment into 04 quarters for the convenience of members.
- Development charges will be paid in 04 quarters, 1st quarter along with possession.
- Extra land charges will be paid in 04 quarters, 1st quarter along with possession.
- Prime location charges will also be paid in 04 quarters, 1st quarter with possession.
- Utility charges will be payable at the time of possession.
- Soon the management will stretch the timeline for handing over the other overseas-1 and executive-1 block possession dates.