LAHORE: The Punjab cabinet approved ‘Apni Chhat Apna Ghar’ programme aims to provide 100,000 affordable houses or apartments to eligible families across the province, ARY News reported.
Chief Minister Punjab Maryam Nawaz Sharif presided over the 15th provincial cabinet meeting in which important decisions were taken including the approval of Apni Chhat Apna Ghar’ programme
The provincial cabinet for the first time in Pakistan approved the grant of housing loan on the ownership of a plot and CNIC copy. A borrower of Rs 1.5 million has to pay Rs. 14,000 monthly installments in nine years.
On the directives of CM Maryam Nawaz Sharif, the loaning scheme has been converted into a revolving fund and no additional charges will be taken from the public.
The chief minister directed to simplify the scrutiny process of social, economic and income sources for obtaining a housing loan and said that the Punjab government wants to create ease for the people.
“We willbuild 500,000 houses in five years,” said CM Maryam Nawaz Sharif .
The chief minister also directed the concerned ministers to pay the first installment of the housing loan by visiting in person.
Meanwhile, the cabinet approved giving 9.500 tractors under the Green Tractor Programme in Punjab along with giving subsidy of Rs. 1 million on each tractor to the land owners possessing up to 50 acres of land.
The Green Tractor Programme will be launched on September 20th and the balloting process will be held on October 20.
Read More: How to apply for loan under ‘Apni Chhat Apna Ghar’ scheme?
The “Apni Chhat, Apna Ghar” program is set to be the first major interest-free housing project in the country’s history.
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.
The primary goal of the “Apni Chhat, Apna Ghar” program is to provide housing for financially vulnerable groups, she informed Dr. Amjad Saqib. The government will offer subsidies and promote the construction of sustainable and eco-friendly homes. This initiative is also expected to create employment opportunities for millions.
CM Maryam Nawaz reiterated the government’s commitment to improving living standards and reducing homelessness through this ambitious housing project.
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