Punjab government began distributing cheques to eligible families for house construction under the ‘Apni Chhat Apna Ghar’ program.
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 the chief guests.
During the event, Maryam Nawaz stated that the Punjab government is fulfilling Nawaz Sharif's vision by enabling those in need to build their own homes. She noted that approximately 500,000 applications have been submitted for the ‘Apni Chhat Apna Ghar’ program.
Under this scheme, eligible individuals will be offered loans of up to Rs 1.5 million, with a monthly ballot draw taking place each month. Maryam Nawaz mentioned that the Punjab government aims to assist 100,000 people each year in constructing their houses through this initiative.
The “Apni Chhat, Apna Ghar” program marks the first significant interest-free housing project in the country’s history.
Additionally, the provincial cabinet has approved housing loans based on land ownership or CNIC for the first time in Pakistan. A borrower receiving Rs 1.5 million will be required to make monthly payments of Rs 14,000 over nine years.
Rural areas: Loans up to PKR 1.5 million for houses up to 10 marlas, repayable in monthly instalments of PKR 14,000.
Urban areas: Loans up to PKR 1.5 million for houses up to 5 marlas, repayable in monthly instalments of PKR 14,000.
Major cities: Construction of four-story flats on government land, to be allocated through a lottery system and provided on easy instalments.
Additionally, private housing schemes will offer homes ranging from 3 to 5 marlas, with the government providing a subsidy of up to PKR 1 million per house.
