On Wednesday, the Punjab government commenced cheque distribution for eligible families to support house construction under the ‘Apni Chhat Apna Ghar’ initiative.
The cheque distribution ceremony was attended by Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif and Punjab Chief Minister Maryam Nawaz, who served as chief guests.
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During her speech, Maryam Nawaz emphasized that the Punjab government aims to fulfill Nawaz Sharif’s vision by helping those in need build their homes. She noted that approximately 500,000 applications had been submitted for the program, which offers loans up to Rs 1.5 million to needy individuals, with monthly ballot draws planned.
Maryam further stated that the Punjab government intends to assist 100,000 people annually in constructing their houses through this initiative. The “Apni Chhat, Apna Ghar” program is notable as the country’s first major interest-free housing project. The provincial cabinet has approved housing loans based on plot ownership or CNIC for the first time in Pakistan. Borrowers can receive up to Rs 1.5 million with monthly repayments of Rs 14,000 over nine years.
Loan Details:
- Rural Areas: Up to PKR 1.5 million for houses up to 10 marlas, repayable in monthly installments of PKR 14,000.
- Urban Areas: Up to PKR 1.5 million for houses up to 5 marlas, repayable in monthly installments of PKR 14,000.
- Major Cities: Construction of four-story flats on government land, allocated through a lottery system with easy installment plans.
Additionally, private housing schemes will provide homes ranging from 3 to 5 marlas, with the government offering a subsidy of up to PKR 1 million per house.
