Lahore: Apni Chhat, Apna Ghar housing scheme inaugurated with a cheque distribution ceremony at the Expo Centre, attended by senior government officials, prospective borrowers, and a significant number of citizens. The news was reported by a news source on October 3.
During the ceremony, Punjab Chief Minister Maryam Nawaz outlined the details of the scheme, emphasising the streamlined process for securing loans and the benefits it offers to applicants. She noted that the Punjab government has simplified the loan application procedure, requiring only land documents and a copy of the applicant’s identity card. The government plans to disburse the first instalment of loans within one and a half months.
Monthly Balloting and Reduced Instalments
Maryam Nawaz announced that the scheme has already received over 500,000 applications. To ensure fairness, she revealed that monthly balloting would be conducted to select loan recipients. The monthly repayment instalment has been reduced from PKR 15,000 to PKR 14,000, making it more affordable for borrowers.
She further explained that the loans will be interest-free, stating, “If you take a loan of PKR 1.5 million, you will only need to repay PKR 1.5 million in easy instalments.” The repayment period will span nine years, with borrowers enjoying a three-month grace period after receiving the loan before any payments are due.
Maryam Nawaz reiterated that the scheme is designed to be accessible to everyone, particularly low-income applicants. “Show us an identity card and land documents, and you can take the loan,” she stated. She confirmed that loans for 100,000 houses will be distributed within the first year through a transparent balloting process.
The Chief Minister highlighted that the loans will be provided without any interest, with repayments structured into manageable monthly instalments of PKR 14,000.
In her concluding remarks, Maryam Nawaz assured attendees that more loans would be distributed in the coming months, with the aim of accelerating housing development across Punjab. She added that the initial three months following loan disbursement would not require any payments, giving borrowers time to effectively manage their finances.
This scheme represents a significant step towards enhancing housing accessibility for lower-income families in the province, contributing to their long-term welfare and stability.
