One Capital Residences is a new launch in Capital Smart City Islamabad. All customers and those who are interested in it have some un-clarity.
Construction projects are long-term projects. Count EG also has a cost estimation cross that is the international count standard. As they are highly costly, they have a long time span, most probably years, towards their completion. In such projects, you have to observe whether the estimated cost is enough for the project or not, even if the expenses will increase with the passage of time while the completion of that project. This whole process contains two parts out of which one is the land and the other one is construction cost. It is important to observe how it impacts +land rates and construction costs.
The launching rate for One Capital Residences is like a pre-launch rate that is 13,500 PKR per square feet. After analysis, these rates are very reasonable and most probably, an ordinary builder is unable to deliver such an immense project at this rate.
The current inflation in Pakistan is 10.74%. However, going one month back, in April, the rate was 13.74%. As it is the biggest reality that there is a continuous rise in the rates of dollars, it is highly expected that there will be an immense inflation rate. This will cause a huge impact on each and every good, even on goods for daily use. But there will be an immense impact on the luxurious product.
Capital Smart City is not just providing you with an ordinary apartment. It is providing you with the immunities of a first-world country. These immunities include parks, walking tracks, swimming pools, dip pools, skate parks, basketball courts, gymnasiums, and some more. It is your compound with all these facilities including 24 hours’ security that is at the top of the list of a person’s needs. This project is heavily costly and its maintenance cost will also be very high. It will be one of the biggest challenges to be faced even after the development. But the society has also planned to meet the maintenance cost by providing some service office space That can be occupied by any service provider or any freelancer. The earnings from those service offices will be used to deal with the maintenance issues. It is a complete financial plan for the project.
It is a unique society and there will be an immense rise in pricing. This rise will occur with the passage of time. There will be certain stages to associate and affiliate it. This rise in prices will come with the completion of each stage. A plus point here is that the authorized dealers are bound to buy the apartments at the same rate according to the inflation of that time or with a few profit margins. This is a complete win-win situation for the client, developer, and sales partner.
The smart features of the society include face recognition, IOT, WIFI, smart garbage system, and some more. Comparing all these facilities, the rate for each apartment should be approximately 30,000 PKR per square feet. Considering the current inflation rate, the approximate inflation rate will be more than 20 % in the next year. On the basis of this inflation rate, the pre-launch rates will also be increased. As it is a four years’ project, the pre-launch rate for the next year will be almost 15000 PKR per square feet, for the third year, it will be almost 18000 PKR per square feet, and for last year it will be around about 22000 PKR per square feet. This is the inflation that you are provided with.
After four years, the price will be more than the double price. The facilities you are provided with are at less rate than today’s rates which are almost 30000 PKR per square feet but the Capital Smart City is expecting it after four years. The Capital Smart City is offering you such a smart offer at a pocket-friendly price irrespective of inflation factor, land factor, and maintenance factor. But after one to two years, the prices will be very high due to all the above-mentioned factors as it is a hot item of the time.