Possession Schedule of Capital Smart City | Overseas and Executive Block 1

Possession in Capital Smart City 2022 - Overseas prime - overseas east - executive block1

Capital Smart City has announced the possession of Overseas Prime, Overseas East & some sectors of Executive Block-1. The society has started giving possession from December 2020 to members who have cleared all outstanding dues.

In this post, we cover all the details of how the process for gaining possession in Capital Smart City works. Who is eligible to apply for possession? What are the dues and charges payable at the time of possession? Keep reading for all the answers. 

Possession of Overseas Prime

Capital Smart City announced the possession of Overseas Prime-1 Block with immediate effect on September 6th, 2022. Possession is now available in Sector A, B, C, D, E, F, G & H.

The possession in Overseas Prime-I is announced two years earlier than the scheduled time.

The management has now offered special eligibility criteria to facilitate the members who had failed to submit their installments on time. Are you eligible to get possession? See the details here.

Possession of Overseas East

Capital Smart City started giving possession of Overseas East in December 2020.

Giving possession almost 1.5 years before time was surely a remarkable achievement of the management of Capital Smart City and that set new standards in the real estate industry of Islamabad. 

Since launched, the residential and commercial plots of OS East did amazingly well in the market because it was the first block to get possession.

The commercial plots have been selling at a profit of more than 10 lac while the residential plots have been selling at a profit of Rs. 200,000. Click here to see how the prices of Capital Smart City have evolved over time!

Possession in Overseas East (Overseas Block-1)

Capital Smart City has just made the enthralling announcement that the possession is now available in Sector F. Following areas in Sector F will get the possession with immediate effect.

STREET # 1 (R.O.W 40″) – Plot 1-11
Plot 1-11 STREET # 2 (R.O.W 40″) – Plot 1, 2, 3 & 10
STREET #3 (R.O.W 40′) – Plot 1-5
STREET # 4 (R.O.W 40″) – Plot 1-24
STREET #5 (R.O.W 40′) – Plot 1-21
STREET #6 (R.O.W 40″) – Plot 1-28
LANE # 1 (R.O.W 40′) – Plot 1, 2, 3, 4, 5, 6, 7, 14 & 15
LANE # 2 (R.O.W 40″) – Plot 8
LANE # 3 (R.O.W 40′) – Plot 7-25
LANE # 4 (R.O.W 40″) – Plot 1-19
LANE # 5 (R.O.W 40″) – Plot 1-21
PARK ROAD WEST (R.O.W 50″) – Plot 1-10 & 13-31
PARK ROAD EAST (R.O.W 50″) – Plot 1-17
AZEEZ BHATTI ROAD (R.O.W 50″) – Plot 1-22

Capital Smart City had already allotted possession in sectors A, B, C, D, E, G, H, J & K . Secto A & B got possession in December 2020 while the rest of the sectors got possession in 14th June 2021.

Scroll down for details about the Dues & Charges and Construction Incentives in these sectors.

Possession of Executive Block-1

Possession has been announced in Sector B of Executive Block-1. The possession will be allotted in the following areas of Sector B with immediate effect:

RING ROAD (R.O.W 180″) – Plot 12-58
LANE # 7 (R.O.W 40′) – Plot 12-33
STREET # 1-8 (R.O.W 50′) – Full Street
LANE # 8 (R.O.W 40′) – Plot 12-33
STREET #9 (R.O.W 40′) – Plot 15-28
LANE # 9 (R.O.W 40″) – Plot 10-32
LANE # 1-4 (R.O.W 40″) – Full Lane
LANE # 6 (R.O.W 40′) – Plot 13-57
LANE # 5 (R.O.W 40′ – Plot 14-30
LANE # 10 (R.O.W 60′) – Commercial – Plot 1-20
BOUNDARY ROAD (R.O.W 50′) Residential – Plot 9-21
BOUNDARY ROAD (R.O.W 50′) Commercial – Plot 1-20

Executive block was launched in May 2019 with the promise of early possession. General members (non-overseas) were given the option to convert their block to Executive block by paying outstanding and some advance dues. 

December 2020 marked one and a half (1.5) years since the launch of Executive block. Possession in 1.5 years against a payment plan of 3 to 3.5 years is indeed a major milestone for the management. More on that in the next section. 

Possession Schedule of Executive Block-1 

Here is the possession schedule of Executive block-1 as announced in October 2021. 

SectorPossession starts fromDues cleared up to
AGrand Commercial Area
BJune 2022
CJune 2022
DJune 2022
EJune 2022

Is Executive Block really getting possession in 1.5 years?

As already mentioned, possession in December 2020 implies 1.5 years since the launch of Executive block against a payment plan of 3 to 3.5 years. It is indeed a major milestone for the management and will set a new standard in the real estate industry of Islamabad. 

However, it should be kept in mind that Executive block is not different from General block. In fact, there is no General block in Capital Smart City (We covered that here ). Most of the executive members might have booked their plots more than two years before possession. 

Nevertheless, even if you booked your plot during the pre-launch phase at a payment plan of 3.5 years, you will get possession within the stipulated time provided that you have been paying all due installments in time.

Capital Smart City has once again claimed that all members will get possession within 3 to 4 years after the date of purchase given that they clear all dues on time.

Considering the current pace of development, it can be expected that the claim made by Capital Smart City is not empty! 

Who is Eligible to apply for possession in Capital Smart City?

You are eligible to apply for possession in Sector A to K of Overseas East and Sector B, C, D, E of Executive Block-1 (according to the above given possession schedule) if the following applies to you:

  1. You have a balloted residential plot in the mentioned sector and block.
  2. You have paid all outstanding dues on your plot.
  3. You pay all of the charges applicable to your plot that need to be paid at the time of possession.

Special Criteria for OS Prime-1

The members of Overseas Prime-1 can claim possession if:

  • If you have paid 20% or above, you can clear their remaining pending installments on or before October 10, 2022 and get the plot number.
  • If you have multiple properties in Overseas Prime-l and are unable to clear the pending installments. You are advised to merge your properties and clear the pending installments to get the plot number.
  • The members can avail the service till October 10, 2022.

What are the Dues and Charges that you need to pay for Possession in Capital Smart City?

First of all, you need to deposit and clear all outstanding installments due on your plot, before the given deadline, to be able to apply for possession. 

The types of charges and dues payable at the time of possession, other than the payment plan, are as follows: 

  1. Development Charges
  2. Utility Charges
  3. Extra Land Charges
  4. Prime Location Charges (including corner, boulevard, etc.)

When do you pay these charges for possession?

Development charges and other applicable charges including Extra Land charges and Prime Location charges are payable at the time of possession.

For the convenience of members amidst the current economic conditions, the society has eased the payment of these charges and allowed to split the payment in four quarters

The payment of these charges will start in the 1st quarter of getting possession. The first quarterly payment will accompany possession. So, you can actually start construction work on your residential plot right away! 

The development charges shall be paid in four quarters. Those who would commence the construction before or by 31st December 2022 would be eligible to pay the development charges in six quarters.

Furthermore, the completion of grey structure and outer finishes by or before 31st March 2023 would get an additional extension.

Extra Land charges will be paid at the time of possession.

Prime Location charges will also be paid in four quarters.

Utility charges are also to be paid at the time of possession. 

Check out the construction incentives to find out about further relaxation in development charges!

What is the amount of these possession charges? 

Prime location charges for category plots can be determined from your payment plan. These charges are provided as a percentage of total price. See the table below for a summary. 

Category%age of Total Price
Facing Park10%
Corner10%
Main Road
(between 41′ and 99′)
10%
Main Boulevard
(100′ and above)
15%

The exact amount of development and extra land charges have not been revealed yet.

Possession fee and other relevant charges payable at the time possession have been summarized in the tables below:  

Plot SizePossession Fees
3.5 MarlaRs. 15000
05 MarlaRs. 18000
07 MarlaRs. 20,000
10 MarlaRs. 25,000
12 MarlaRs. 28,000
01 KanalRs. 35,000
02 KanalRs. 60,000
Re–possession FeeHalf of the above

B – Map Charges

Map ChargesFees
Set chargesRs. 20,000
Covered area feeRs. 9.50 / Sft

The charges payable at the time of possession include the fee to get the connection of water and electricity connection and a copy of by-laws which are required to start construction.

ServiceFees
Water Supply ConnectionRs. 5,000
Temporary Electricity ConnectionRs. 1,000
Temporary Electricity Security (Refundable)Rs. 10,000
Water Bowzer charges/BowzerRs. 1500
By-laws BookRs. 500

Procedure for Acquiring Possession

Here is the step by step guide to apply for possession in Overseas block of Capital Smart City.

  • Apply for Statement of Dues (SOD) & Post-Dated Cheques Statement (PDCS) from the Building Control Department (BCD) on Computer Generated Letter.
  • Pay the possession fees before applying for SOD and PDCS. The deposit slip should be attached along with the application.
  • After issuance of SOD & PCS by BCD, members will pay accordingly.
  • Apply on the prescribed application and attach the following documents along with the application.
    • Membership (MS) letter &/or Allotment Certificate (Copies)
    • CNIC (Copy)
    • Affidavit
    • Post-dated Cheques (PDC)
    • Fee / Charges deposit slips
  • Then, the application will be processed by BCD for approval.
  • After approval, you will be contacted by BCD to visit and get on ground possession and the possession letter.
  • Apply for drawing and permission of services for construction.
  • Begin construction within a period of 6 months, otherwise you will be required to apply for re-possession.

Here’s a quick guide just in case you are purchasing a plot on resale and couldn’t stop wondering What to expect from the transfer process of Capital Smart City?

Construction Incentives by Capital Smart City

With the onset of possession in Overseas block-1, Capital Smart City is encouraging expeditious construction and extending the following incentives to members who start early construction.

1. Early Construction – Delay in Development Charges

Exclusive incentives are being offered on Early Construction in all recently announced possession areas of Overseas East, Overseas Prime, and Executive block.

The members who would start construction work on their plots before 31st December 2022 would reserve the privilege to get extension up to 6 quarterly installments

2. Complete Grey Structure – Extension in Payment Plan

The members would enjoy the benefit of delay in payment if succeeded to build the grey structure before the said date. The offer is valid for members who are eligible for possession in Overseas Prime, Overseas East & Executive block.

If a member completes the grey structure and outer finishes before or by 31st March 2023, he or she would be entitled to the extension of another quarter.

3. Discount on Development Charges

The first twenty-five members with residential plots in each block (Overseas Prime, Overseas East & Executive Block) who commence their construction before 31st December 2022 will be given a grand discount of 50% in their already paid development charges.

The discount will be disbursed in the following two phases:

  1. 25% of the development charges will be refunded after the completion of foundation works till March 2023.
  2. The remaining 25% of the development charge will be refunded after the completion of construction work by December 2023.

4. Architectural Drawings by DSA Architects

The management of Capital Smart City is providing Architectural and MEP (Mechanical, Electrical, and Plumping) drawings to the members who start early construction.

The architectural design will be made by DSA Architects, Dubai.

The villa design and maps will save the members a noticeable cost of approximately Rs. 450,000 to Rs. 900,000 (in Executive & Overseas East) and Rs. 250,000 to Rs. 500,000 (in Overseas Prime) depending on the plot size.

The villa design and maps will save the members a noticeable cost of approximately Rs. 200,000 to Rs. 300,000 (in Sectors A & B) and Rs. 250,000 to Rs. 500,000 (from Sectors C to K) depending on the plot size.

Summary

Capital Smart City has announced the possession of Overseas Prime (Sector A to H) and specific streets (including commercial and residential plots) in Overseas East and Executive Block-1 (Sector B).

The society had already allotted possession in Overseas East (Sector A to K), in June 2021.

You are eligible to apply for possession as per schedule if you have a plot in one of these sectors and have cleared all outstanding dues. 

The dues and charges payable to obtain possession can be summarized into the following points: 

  • Clear all outstanding dues within the possession month, before deadline.
  • Pay Utility charges at the time of possession.
  • Pay Development charges, Extra Land charges and Prime Location charges in four quarters where you get possession in the first quarter. 

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