Apni Chhat, Apna Ghar: Punjab govt shares more update on loan programme

LAHORE: The Punjab government shared more updates on the ‘Apni Chhat, Apna Ghar’ programme and said that more than 5,000 homes are quickly approaching completion under the scheme.

In a statement issued here, Punjab Chief Minister Maryam Nawaz said that loans under the “Apni Chhat, Apna Ghar” programme are being given only on the basis of merit.

The construction of more than 5000 homes are almost  completed with loans given to 3,000 people in Phase II.

Maryam Nawaz said that that borrowers who receive a loan of up to Rs 1.5 million will only have to repay principal amount in installments over a nine-year period in installments of 14,000 rupees per month.

The “Apni Chhat, Apna Ghar” programme is the first major interest-free housing project in the country’s history.

Earlier in October last year, the Punjab government started cheque distribution among eligible families to construct their houses under the programme.

Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif and Punjab Chief Minister Maryam Nawaz attended the cheque distribution ceremony of ‘Apni Chhat Apna Ghar’ programme as the chief guests.

Speaking on the occasion, Maryam Nawaz said that She said that the Punjab government in fulfilling the dream of Nawaz Sharif by enabling the needy persons to build their own houses. Maryam Nawaz said that around 500,000 applications were received for the programme.

Read More: Maryam Nawaz shares update on ‘Apni Chhat, Apna Ghar’ programme

She said that under the scheme, the needy people will be given a loan of up to Rs 1.5 million. She said that there would be a draw-through ballot every month.

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 offers homes ranging from 3 to 5 marlas, with the government providing a subsidy of up to PKR 1 million per house.