Capital Smart City surcharge policy updates reveal that surcharges have been suspended till 31 July 2024 by the official management of society to facilitate the clients. The suspension of surcharges is a new trend in the real estate industry that benefits members.
The members who have already paid the surcharges, their surcharges will be adjusted into their remaining amount for the purchased properties. Therefore, the surcharge policy update is another by HRL and FDHL to facilitate the members of residential blocks.
The new updates of the surcharge policy are valid for Overseas Block, Executive Block, and Capital Hills.
Capital Smart City Transfer Fee Policy
The management of Capital Smart City has also revised the transfer policy from 2022 to 2023. The canceled and blocked file holders with payment 21%-35% can retain their properties by making 50% payment before 15th September 2023.
The remaining 50% payment will be payable in one year following the development charges update of Capital Smart City. Therefore, the members of Capital Smart City residential blocks can benefit from the transfer policy updates.
Transfer Policy 2023
- Transferring 2017 active plots is possible with the clearance of all pending dues.
- A 65% payment is necessary for the transfer of 2018 active plots.
- A 50% payment must be made for the transfer process of 2019 active plots.
- 3 quarters of the payment must be paid for the transfer procedure of 2020 active plots.
- 2 quarters of payment are needed for the relocation of 2021 active plots.
- A 20% payment must be paid to transfer the plots of 2022 and 2023.
- The non-canceled open commercial files (Before 31.12.2022) will be transferred on making at least 60% payment.
This transfer policy is valid from 5th August 2023 to 31st March 2024. The members are requested to follow the surcharge refund policy of Capital Smart City Islamabad.
Transfer Policy 2024
- All dues must be paid for the transfer of 2017 active plots.
- 2018 active plots will be relocated on an 85% payment.
- The 2019 active plots will be transferred with a 65% payment.
- 2020 active plots can be transferred easily on 50% payment.
- 2021 active plots transfer is possible with 3 quarters payment.
- 2 quarter payments must be paid for the relocation of 2022 plots.
- A 20% payment is payable for the transfer of 2023 plots.
- 75% is necessary to transfer open (before 31.12.2022) commercial files.
This transfer policy applies from 1st April 2024 to 31st December 2024. The surcharge rates of Capital Smart City Islamabad have been eliminated.
Capital Smart City Residential Blocks Development Policy Updates
The development charges update of Capital Smart City shows that management has postponed the surcharges for the development charges and prime location till 30th June 2024. Moreover, the management will return the previously collected surcharges to the members’ files.
The members must pay all surcharges, even the waived-off development charges of Capital Smart City Islamabad, if they can not pay the dues after 30th June 2024. Therefore, you must make your payments timely to avoid the surcharges on the late payment.
The new plot prices, excluding the development charges, are mentioned below:
| Residential Plot Sizes | Total Prices |
|---|---|
| 5 Marla | 3,150,000 |
| 7 Marla | 4,250,000 |
| 10 Marla | 5,750,000 |
| 12 Marla | 6,500,000 |
| 1 Kanal | 9,550,000 |
| Commercial Plot Sizes | Total Prices |
|---|---|
| 4 Marla | 10,550,000 |
| 8 Marla | 17,850,000 |
Development Charges Policy Updates
The management has deferred the development charges until 31st July 2024 for the different blocks to facilitate the customers in times of high inflation. Therefore, you need to know the blocks which have been facilitated from the latest development charges policy of Capital Smart City.
Overseas Central Block
Overseas Central is the first block that has been included in the suspension of development charges for one year. Therefore, members of this block can get the benefits of postponing development charges.
Harmony Park Block
The management has also announced the suspension of development charges for Harmony Park Block in accordance with the latest surcharges updates. The customers who have booked the different categories of plots will be facilitated with this new policy.
Overseas East Block
The development charges for Overseas East Block have been suspended for a time frame of one year. Therefore, the owners of different plot sizes have reliability for the next 12 months to deal with their financial conditions.
Overseas Prime Block
Overseas Prime, which is the favorite block of every customer because of the elevated location, is also included in the latest development policy update. The management has delayed the development charges until mid of 2024.
Extension in Submission of Payments
The management has extended the date for the submission of the surcharges, including the development charges, until 31st July 2024. Extension in the submission of payments is good news for customers who are facing an economic crisis.
Overview of All Blocks Notices
The management has announced the different policies for only four blocks which have been discussed above. Every kind of surcharge has been suspended for one year to facilitate the clients of residential and commercial plots.
The latest notice for the commercial and residential plots of the different blocks is pleasing news for members who were facing challenges to afford the charges. Now, they have one year to save money to pay the surcharges and other payments regarding their properties in society.
Final Words
Capital Smart City surcharge policy updates are visible for the members who have bought their properties by believing in the credibility of FDHL and HRL. You can follow the surcharges policy to avoid fines on late payments. Moreover, the respective members can contact Makaan Solutions to learn more about the updated policy.
Capital Smart City Surcharge Policy Updates 2023
If you want to know about Capital Smart City Surcharge Policy Updates 2023, contact Makaan Solutions. Our Sales Executive Officer will provide you with all the latest information. Starting from consultation to choosing the property, and from booking to owning your dream property. For further details, please do not hesitate to contact on the below-given information:
