Capital Smart City Resale and File Transfer Process is being talked about a lot in the recent days. High returns on investment, and the fact that this is the first-of-its-kind housing project in Pakistan, make Capital Smart City an extremely good investment opportunity. Investors may choose to resell their property at high prices through the Capital Smart City transfer process.
While it is generally straightforward, circumstantial complications can arise from Capital Smart City Resale and File Transfer Process. This is especially due to the fact that there has been a massive influx of investment into the Overseas block—one of the most prestigious blocks the project has to offer. The block is said to over the best of the best infrastructure and smart facilities in keeping with international standards. Capital Smart City has made this block available to only overseas Pakistanis and foreigners.
Documents Required for Capital Smart City Resale
The documents required for the Resale and File Transfer Process are simple and easy to acquire. Experts at Makeen Marketing have complied a list of documents as well as a detailed guide to the Capital Smart City transfer process.
The documents required are as follows:
· The CNIC of both seller and buyer
· The original copy of the Membership Letter
· Paid slip of Transfer and MS fee
· Paid slip of any outstanding fee the seller may have
Here some steps you have to follow for the Capital Smart City Resale and File Transfer Process. Firstly, the seller will have to put up a “Transfer Request” to the management. This along with the documents listed above must be put forward to the management of the housing project. The seller will then be issued an S.O.D., or a Statement of Dues, against the Transfer Request they submitted.
So, what exactly is an S.O.D.? As per the Capital Smart City transfer process, this is a sum of all the unpaid dues a seller has wracked up. This statement will go into details of the seller’s payment history i.e. the purchase of their plot of land and any development charges they may or may not have paid.
Once the seller has paid off any outstanding dues, the are issued a No-Demand Certificate (NDC) which indicates that all dues have been paid. Because it indicates, concretely that there the seller is not liable to pay any dues, the NDC is crucial is carrying forth the Capital Smart City transfer process.
Next, for the Capital Smart City Resale and File Transfer Process both the seller and the buyer have to present the case in front of a transfer officer. They will also have to record their statements indicating a mutual interest in the file transfer process. Remember to bring along an original copy of your National Identity Card (NIC) and the original copy of the Membership Letter. After submitting these documents, your Capital Smart City transfer process will be underway!
The Resale and File Transfer Process will then take approximately 1 month; at the end of this, a transfer letter and plot file will be issued to the new buyer. Remember the circumstantial complications we spoke about? They are as such: what if the buyer is abroad? In this case, Capital Smart City management allows the overseas buyer the “Power of Attorney” whereby they can appoint a trusted person (based in Pakistan) to act on their behalf.
In an alternative case, what if the seller lives abroad? As we mentioned, the overseas block is only available to overseas Pakistanis. In this case, the seller will have to acquire a GPA, or Power of Attorney, via the respective country’s embassy. This document will be attested by Pakistan’s Foreign Office. It will bear the name of whoever the seller has appointed to represent them. This is a crucial step to go forth with Capital Smart City transfer process.
Benefits of Capital Smart City Transfer Process
So, why should you be going through the hassle of buying a plot through the file Capital Smart City Resale and File Transfer Process? Perhaps one of the most enticing reasons for doing so is the possession of a plot in the Overseas block. As you know already, Capital Smart City is not selling these plots to locals, however, there is no such rule when it comes to resale and transfers.
Through the Capital Smart City Resale and File Transfer Process, you could secure yourself a plot in the most esteemed blocks the project has to offer.
As a seller, selling the benefit is quite straightforward— you are able to sell your highly coveted plot at exorbitant prices earning huge ROI.
Things to Keep in Mind During the Transfer Process
Even though the Capital Smart City Resale and File Transfer Process is quite simple, there are a few words of advice we, at Makeen Marketing, would like to part you with. When you are dealing in the transfer of an Overseas plot, make sure that the plot you are dealing is in fact Overseas. There may be some who are trying to swindle you into buying a General plot for the price of an Overseas plot. Another thing we would like you to be careful of is the authenticity of your seller and agent.
Speaking of agents, have you heard of Makeen Marketing yet? We are one of the most reliable real estate companies in Islamabad. Want to know our thoughts on some real estate destinations in the capital? Click here.