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Chief Minister Punjab Performs Balloting of Affordable Houses
Mon, Jan 24, 2022

Chief Minister Punjab Sardar Usman Buzdar performed balloting of Prime Minister’s Peri-Urban Affordable Housing Project, which comprises low-cost 3.5 marla houses in three tehsils of Punjab under Naya Pakistan Housing Programme.

The project was launched in three tehsils of Punjab but the names of the districts are not made official yet. The balloting was held for PM Peri-Urban Affordable Housing Project under which the worth of a 3.5 marla house is PKR1.75 million. The project is designed for low or lower-middle income strata and the houses will be available at monthly instalment of PKR6,526 for over 20 years payment period.

The purchase has been made easier for the citizens thus it is said that successful applicants will be eligible for bank loan or mortgage. The Chief Minister mentioned that in line with the vision of Prime Minister, the provincial government has been striving to introduce an affordable housing project in every tehsil.

A banks’ consortium, operating under The Bank of Punjab has been working to provide loans to the eligible applicants. 133 locations have been shortlisted across the province, while the Naya Pakistan Housing Development Authority (NAPHDA) has also completed the survey of 54 locations. The authority has recommended for setting up more than 10,000 houses at 32 sites.