BREAKING NEWS…!
Here is good and hottest news for the investors and management of Capital Smart City (CSC)…!
Finally, the management of Capital Smart City has managed to get NOC approval for a dedicated interchange from Islamabad-Lahore (M-2) Motorway as their main entrance. The executive board of the National Highway Authority (NHA) has given NOC in response to the application of authorities of CSC for dedicated access from the M-2 Motorway. Now the residents of Capital Smart City Islamabad will enjoy direct access from the controlled motorway networks of NHA.
Last year, the National Highway Authority (NHA) Board of executives had approved the policy for providing direct access to private real estate projects or housing societies to their controlled road network. i.e. Ring Roads, Motorways, Highways, Expressways, etc. According to this policy, ‘Private Entities’ like housing societies can construct dedicated interchanges linked with motorways by fulfilling certain terms and conditions. Also, they defined legal criteria to get approval for the construction of dedicated interchanges from controlled access road networks.
According to the sources of NHA, after the policy release from National Highway Authority (NHA), almost three housing societies – The Top City, The Eighteen, & The Capital Smart City had applied to get legal approval for the construction of dedicated interchanges, and so far Capital Smart City Islamabad has managed to get NOC to get linked with the road network of NHA. According to some insights, the authorities of CSC have deposited a non-refundable scrutiny fee worth almost 5 Million to NHA for approval of NOC.
As per the said policy, the interchange will be constructed with the funding of CSC but it would be operated and owned by the National Highway Authority (NHA). Also, the design of construction will be approved by NHA and the proposed interchange will be at a distance of almost 10 kilometers from M-2. Also, no direct tender will be announced to construct this interchange, rather a subsidiary construction company of NHA will take over this project. After the approval of work initiation from this subsidiary company, the construction will start at the site within 7 working days.
The real estate projects which get linked with public access roads have always a huge investment and Return On Investment Potential (ROI). As far as the market potential of Capital Smart City Islamabad is concerned, it is quite obvious that this real estate project is going to be one of the top-notch and expensive societies within the upcoming three years. In upcoming years, the market value of CSC is going to increase ten times. Amazing!
The future of Smart City Islamabad is very bright because it’ll be the separate and first smart city in Pakistan that will be on the motorway and nearest to Islamabad International Airport.
Stay tuned for more updates…!