Naya Pakistan Housing Program is now showing progress on fast track meant for those who can’t afford houses at the current market prices. It also requires them to meet certain criteria in terms of total household income.
Imran Khan urges investors to take advantage of limited time opportunities.
NAYA Pakistan Housing Scheme Phase 2
Investors will not ask for their source of income.There will be a 5% interest rate for 5-marla house while 7pc at 10-marla
The question most people ask was “Who can apply for Naya Pakistan Housing Programme?
Naya pakistan housing scheme form
The application form could be downloaded from National Database and Registration Authority’s (NADRA’s) website.
The applicants were required to mention the family’s total gross income per month if it was in the range mentioned below:
- Less than PKR 20,000
- Between PKR 20,001 and PKR 40,000
- Between PKR 40,001 and 60,000
- Between PKR 60,001 and PKR 100,000
- More than PKR 100,000
ELIGIBILITY CRITERIA FOR THE HOUSING SCHEME
The eligibility criterion for the Naya Pakistan system is that only one person can apply after submitting the PKR 250 form. Shortly after the launch of the program Nadra received a number of requests. Half a million of them have been digitized.
In a few words with complete detail provided by the NPHP eligibility criteria is as follows:
- Only one person per family can apply (husband/wife).
- A fee of PKR 250 to be submitted along with the registration form.
- Those with a monthly income of approx. PKR 10,000 – PKR 25,000 will be preferred.
- Those who do not own any independent properties in Pakistan will be preferred.
Houses in Naya Pakistan Housing project will be built in three categories. These are:
- Labour class
- Lower middle class
- Middle class
These houses will be offered on a 10 percent to 25 percent down payment to all the above-mentioned categories.
NAYA PAKISTAN HOUSING SCHEME PAYMENT PLANS
Banks are to provide home loan facilities on appropriate terms and conditions where the payment could be cleared in up to 20 years.
So if you have applied in this affordable housing project gear up to pay 20 percent as Naya Pakistan Housing Scheme down payment.
While the remaining 80 percent payment will be provided by the bank through the home financing option.
In Naya Pakistan Housing Scheme payment plans the owners will also have to pay an additional 10 percent markup.
The government plans to accept the rent same model to keep it an affordable housing project for the low-income group.
An Egyptian tycoon Naguib Sawiris has shown interest to invest in 100,000 units of the housing project.
CITIES INCLUDED IN NAYA PAKISTAN HOUSING PROJECT
Further to construct houses under the first phase of Naya Pakistan Housing Program these districts have been chosen:
In the Naya Pakistan Housing Scheme by Punjab government has decided to start this affordable housing project in the cities
- Quaidabad (Khushab)
The process of receiving Naya Pakistan Housing Scheme applications from people will begin shortly. This announcement was made in the Punjab Housing and Town Planning Agency (PHATA) governing body’s meeting.
The Minister for Housing directed to give the final shape to the arrangements of starting this low-cost housing program.
The meeting also decided to make the final selection of the proposed sites in Lahore. The commission will send its report after visiting the proposed places.
The minister also ordered that a meeting of the PHATA governing body be held every 15 days to expedite the ongoing work of the Naya housing program in Pakistan.
A brief was also shared regarding the design of Naya Pakistan Housing Scheme Multan project.
10 More cities have been added to the Naya Pakistan Housing Scheme.
The cities being included in the next projects are
|Lahore||Multan||Rahim Yar Khan|
Forms will be available at the District Housing Program Office
The Naya Pakistan housing scheme will construct 5 million houses over the course of 5 years. It is also one of the most important and the flagship programs of the Govt right now.
The project has the potential to economically boost dozens of industries of the country as its directly related to the construction of 5 million homes across Pakistan.
The project was initially announced for 7 cities which included Islamabad, Sukkar, Gilgit, Muzaffarabad, Quetta, Swat and Faisalabad.
Now the program has been extended to 10 more cities of Punjab.