The capital smart city housing scheme has been a hot topic in the real estate market since 2017. This project is being developed by Habib-Rafique Limited and is rapidly gaining popularity for real estate investors in Islamabad. Most of their commercial plots for 4, 8, and 10 marlas have already been sold out. They gained instant success with the launch of their Harmony Park Block due to the smaller plot sizes. The Harmony Park Block consists of smaller 3.5 Marlas residential plots along with commercial plots of 2.5 marlas. Ever since its launch in 2017, Smart City’s Commercial plots and residential plots have been in high demand.
A housing society project can only be successful if the vision and planning are implemented on the ground as well. Capital Smart City’s rapid development and progress are making it a huge success among investors. According to most real estate agents, right now is the best time to invest in this project.
The city of lights offers the citizens marvelous beaches, a number of attractions and a variety of eateries. This not only makes the city the local’s favorite, but also the tourist’s favorite. Other than the housing societies mentioned here, the city offers a wide number of real estate projects that are rapidly being developed. This gives investors even more options to invest their money in. If you are also looking to invest, invest in Karachi because land investment in this city is rewarding for both residential and commercial areas.
One reason to invest in this project is the name behind it. The company Habib-Rafique Pvt. Limited is known throughout Pakistan as the best real estate developer in the country. Their excellent design and management team along with their brilliant management team is what’s making this a high-profile project among realtors and investors.
The price range of the residential and commercial plots of this project is also what keeps the investors coming. Due to the underpricing technique being used by this project’s management, more and more people are looking into buying or investing in this project. Since the market value of 3.5 marla plots is considered less as compared to 5 marla plots, initially they sold for 1,500,000 each. Due to the increase in demand and the number of plots being limited, market value increased for these plots, and their price increased by 30000.
Capital Smart City gained popularity among investors by launching their projects one by one instead of launching the entire housing scheme project at once. This kept the market and the project alive. As soon as the market got saturated by various new housing society projects, the project launched its Harmony Park Block. This block gained popularity fast due to its smaller residential plots of 3.5 marlas and lower prices. Short-term investors prefer to switch their funds from one project to another for quick money. This strategy keeps investor funds within one project. After the 3.5 marlas, residential plots were announced and investors were ready to move on to the next project, the launch of the 2.5 marlas commercial plots kept them invested.
Real estate fraud is the concern of every realtor and it has been observed that most new housing societies seem to be practicing this. The projects oversell their plots in order to gain as many funds as possible at the start. Gradually the projects start disappearing mainly because they could not get approval for the number of plots sold. Since the projects could not deliver the number of plots, they cancel the already sold plots’ bookings. This causes the real estate investors and buyers to lose 25% to 30% of their money. Smart City, however, is known for not overselling its plots. They only take bookings for the number of plots available.
Progress That Shows
Lastly, one crucial factor that has increased the real estate investors’ confidence in this project is the evident fact that Smart city is being developed at a rapid speed ad compared to other housing society projects in Islamabad. The fast development of this project is what makes more people invest in it.
On the basis of all these factors, one can come to the conclusion that investing in the Smart City Housing Scheme is among the best investments to make in 2021. The plots are being sold at a low price and according to real estate agents, they will turn up a good amount of profit in the coming future. Its best to invest in their 3.5 marlas residential plots in Harmony Park Block while they are still available for a lesser price.
Muhammad Junaid is a senior Analyst and Search Engine Expert. Extensive experience being a lead writer in the NextGen Marketing | Nova City Islamabad. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.