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Capital Smart City Latest Policy (Surcharges,Transfer)

The capital smart city is hands down one of the most prestigious and talked about real estate developments of the current time. It is Pakistan’s first-ever smart city and that speaks volumes of its dedication to revamp the real estate sector of Pakistan.
Society is the recent talk of the town because of its commitment to deliver on the grounds that it is exploring for its residents. The Capital Smart City surcharge policy is something that is benefitting the real estate trends to varying degrees.
Those who have already made the payments will enjoy the perks of adjusted payments. These development charges will be adjusted in their plot payments. Now, that’s what you call a golden investment venture.

Now in the wake of the aforementioned suspension of charges, the society has also revised the transfer policy from 2022 – 2023. These file holders who have blocked or canceled with 21% to 35% will have the chance to retain their properties only by making a 50% payment. But that payment will be on 15th September 2023.

Transfer Policy 2023

Plots of 2017 will be transferable with the clearance of all and any pending dues
For the transfer of 2018 plots, you have to pay 65% of the payment
For the transfer of 2019 plots, you are eligible to pay 50% of the payment
For the transfer of 2020 active plots, you have to pay 3 quarters of the payment
2 quarters of the payment has to be made for the transfer of 2022 and 2023
In case of non-canceled open commercial files (31 December 2022), the investor is eligible for their transfer of plots by making a 60% downpayment

This aforementioned transfer policy is valid from 5th August 2023 to 31st March 2024.

Transfer Policy 2024

Members are entitled to pay all the remaining dues to commence the transfer of 2017 active plots
The relocation of 2018 active plots will be done with 85% payments
With a 65% down payment, you can secure 2019 active plots
With 50% down payment, you can secure the 2020 active plots
You have to pay the payment of 3 quarters to ensure the transfer of 2021 active plots
In order to secure the relocation of 2022 active plots you have to pay 2 quarter payments
The investors have to pay 75% of the payment to secure a commercial files

Development Charges Policy Updates

One of the biggest surprises for the investor is that the management of the society has postponed any development charges till 31st July 2024. This step was taken to ensure that the people are able to breathe in this inflation crisis.

Listed below are the blocks which come under the deferring development charges by the latest policy update.

Residential Plot Prices
Size	Price
5 Marla	3,150,000 PKR
7 Marla	4,250,000 PKR
10 Marla	5,750,000 PKR
12 Marla	6,500,000 PKR
1 Kanal	9,550,000 PKR

Commercial Plot Prices
Size	Price
4 Marla	10,550,000 PKR
8 Marla	17,850,000 PKR

Overseas Central Block

One of the first-ever blocks that were included in the suspension of charges was the overseas central block. This way the members who have investments in this block can enjoy the perks of postponing the development charges.

Harmony Park Block

The latest surcharges policy also contains Harmony Park block on the list of those blocks whose charges have been dismissed. Thus people who have booked their plots in society will be surely entertained by this new policy.

Overseas East Block

Another block that is on the list of blocks that have been removed from the development charges is this one. The investors of this block can enjoy the perks of this suspension for the next 12 months.

Overseas Prime Block

This block is an ultimate fan favorite, all thanks to its luxurious location which automatically raises the bar sky-high. This is also on the list of the block whose development charges have been suspended.

Extension in Submission of Payments

The decision of the management to postpone the submission of delivery charges was done as a kind gesture to bring a sense of ease for the customers who are finding it hard to navigate in these tough times. The drop in the charges is effective till 31st July 2024.

The Bottom Line!

The aforementioned text contains data about the Capital Smart City surcharge policy and the revised charges in the coming years. Make sure to make these payments so that you are not suffering from late fines.

Capital Smart City Surcharge Policy Details