Peshawar: The Provincial Housing Authority (PHA) of Khyber Pakhtunkhwa (KP) has announced a new low-cost housing initiative ‘Jalozai Flats – Nowshera’ with the association of Naya Pakistan Housing and Development Authority (NAPHDA), an official advertisement reported. The interested parties are invited to submit their applications till July 31.
ECC approves revisions regarding Naya Pakistan Housing Programme (NPHP)This new housing project is part of the Naya Pakistan Housing Programme (NPHP), under which PHA and NAPHDA would construct 1,320 apartments in Jalozai, Nowshera, over a 150-Kanal area. As directed by Pakistan’s Prime Minister Imran Khan, each apartment would cost PKR 2.5 million, with a PKR 0.3 million subsidy.
Salient Features of low-cost Jalozai Flats
Each flat spans over an area of 780 sq. ft.
Two bedrooms with one bathroom
One kitchen, living area and balcony
The amount is payable in 5-20 years easy monthly instalments (EMIs)
Each applicant, if awarded with the apartment, will get a PKR 300,000 subsidy from the government of Pakistan.
The project will be completed in 18 months
The draw for the apartment allocation will be held after 2 months of the last date to sublet the application
Bank of Khyber will also provide loans for the successful applicants
The process of applying for the scheme is as follows:
The forms can be obtained from any branch of the Bank of Khyber
Read all the instructions regarding the eligibility and process of submitting the application on the back of the application form
The duly filled application form along with a pay order/ demand draft or cash in the name of DG PHA must be submitted to the bank manager and obtain the receipt
In case of inconvenience or help, the BoK has established a help desk in each bank that or the applicant can reach the DG PHA through helpline numbers displayed on the website.
A non-refundable processing fee of PKR 500 will be payable with each application
10% down payment amounting to PKR 250,000 (refundable) must be submitted along with the application
The remaining amount will be payable in easy monthly instalments spanning between 05-20 years
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
