ISLAMABAD – The Pakistan Tehreek-e-Insaf (PTI) government has disclosed that a buyer of a house under Naya Pakistan Housing Scheme will have to deposit 20 percent as downpayment.
It was revealed by the government for the first time since the highly publicized housing project was launched.
The applicant will pay 20% upfront while the remaining 80% amount of the cost will be shared by the government through banks. The buyer will return the 80% percent amount in 20 years to the government.
“Every buyer need to pay 20% of the cost of the house. The remaining will be undertaken by the government,” PTI leader Syed Firdous Shamim Naqvi said at a joint press conference with Task Force on Housing chairman Zaigham Rizvi and Punjab Minister for Housing Mehmoodur Rashid on Monday.
“If the total cost of the lowest category house/apartment is Rs3 million, the buyer must pay Rs600,000 as the upfront amount,” said Naqvi.
Address the presser, provincial minister Rashid said that the housing project will be implemented in Jhelum, Chiniot, Bahawalnagar, Faisalabad, Sialkot and Lodhran district in Punjab as well as Muzaffarabad in AJK during the first phase.
The prime minister will inaugurate the first phase on January 1, 2019, he said.
https://en.dailypakistan.com.pk/headline/pm-imran-launches-naya-pakistan-housing-program/
On Oct 10, the prime minister launched PTI’s ambitious flagship “Naya Pakistan Housing Programme” aimed at building five million low-cost and affordable housing units across the country, fulfilling one of the “cornerstones” of his party’s election manifesto.
