Naya Pakistan Housing Programme to fulfill long-cherished dream of low income group


The provision of Rs300,000 subsidy per housing unit on construction of first 100,000 houses for low income groups under Naya Pakistan Housing Programme (NPHP) will fulfill the dream of marginalized sections of society to have their own houses by paying a house installment instead of rent.

After the announcement of package for the construction sector under the dynamic leadership of Prime Minister Imran Khan, large-scale construction activities have started across the country which would ultimately help decrease poverty and unemployment.

According to the Naya Pakistan Housing and Development Authority (NAPHDA), the government has allocated Rs30 billion as subsidy for the NPHP which will help reduce the prices of construction materials and boost the country’s economy.

Similarly, the government has also reduced interest rate by 90 per cent for low-cost houses, while the banks are providing loans on five percent mark-up for five marla houses and seven per cent for ten marla houses.

For this purpose, the loans are being provided by various banks which have also established special desks named “Mera Pakistan Mera Ghar” to facilitate the customers for availing loans and providing information regarding obtaining loans, required documents and loan repayment schedule.

All Pakistanis can apply under this scheme. The monthly installment would be Rs 6,600 on the loan worth Rs1 million for the first five years while the monthly installment would be Rs13,199 on the loan worth Rs2 million, Rs19,799 on loan worth Rs3 million, Rs31,012 on loan worth Rs4 million and Rs38,765 installment on the loan worth Rs5 million.

There are three categories under the scheme, the first one is for Naya Pakistan Housing and Development Authority (NAHDA) projects, which includes five marla houses or apartments covering an area of 850 square feet.

In the second one, Non-NAPDHA projects include a five marla house or apartment in 850 square feet covered area.

Similarly, in the third one, non-NAPDHA projects consist of houses on more than 125 square yards up to 10 marla with a covered area of 850 square feet to 1100 square feet.

The maximum value of first and second categories’ houses or apartments have been fixed at Rs3.5 million while the price of third category houses or apartments have been fixed at Rs6 million.

Under this scheme, the loan of up to Rs2.7 million would be provided for the first category, maximum Rs3 million for the second category and up to Rs5 million for the third category.

The government has allocated Rs378 billion to the banks for this purpose.

The processing of no objection certificate for approval of the projects in a short span of time is being completed by the respective provincial development authorities through one window portal.

The federal cabinet has also passed an ordinance to provide tax incentives to the construction industry through amendments in the Income Tax Ordinance 2001 and the Finance Act 1989.

The government is also providing the other facilities including fixed tax system and the provision of low-interest loans for the low-income groups and employees in the construction sector.


Source: Radio Pakistan

Leave a Reply