Lahore: Punjab Chief Minister (CM) Sardar Usman Buzdar on Friday (January 21) performed balloting of low-cost 3.5-marla houses built in three tehsils of Punjab under Naya Pakistan Housing Programme (NPHP), news sources reported.
According to sources, the project was launched in three tehsils of Punjab, the names of which were not disclosed by the source. As per the details, the balloting was held for PM Peri-Urban Affordable Housing Project, under which low-cost 3.5-marla houses at PKR 1.75 million will be provided to families. The low-cost houses will be provided at monthly instalments of PKR 6,526 with over 20 years payment period.
Moreover, the chief minister revealed that the successful applicants will be eligible for mortgage finance/loans. He went on to say that a consortium of banks headed by the Bank of Punjab will be providing mortgage finance facilities.
CM Buzdar, while speaking at the ceremony, stated that the government has taken practical steps for the provision of houses to the underprivileged. Under the NPHP initiative, affordable housing will be introduced in every tehsil and district. So far, 133 locations have been identified across the province while the survey of 54 locations has been completed by the Naya Pakistan Housing Development Authority (NAPHDA).
Reportedly, in the first phase of the said project, the NAPHDA suggests setting up over 10,000 housing units at 32 sites. The affordable housing project will be completed by Frontier Work Organization (FWO) and National Logistics Cell (NLC), while Engineering Consultancy Services Punjab will ensure construction quality for the project.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
