Lahore: For setting up affordable housing schemes under Prime Minister of Pakistan Imran Khan’s Naya Pakistan Housing Programme (NPHP), land bank of 1 million kanals has been received, a news source quoted Punjab Housing Minister Mian Mehmood-ur-Rasheed. He shared this information while chairing a meeting held to discuss progress made so far for the project.
Sharing further details, Rasheed said that Prime Minister has so far received 14 briefings on the project, for which financial institutions are also being approached for providing interest-free loans for the affordable houses constructed under NPHP. Rasheed said that the financial model of the project will be designed in the coming week. Special care is being taken to keep the prices low for units constructed under this programme.
Talking about the prices of units offered under the programme, Rasheed said that according to the floor plan shared by the Urban Unit, 3-marla and 5-marla houses will have a ground and first floor. Construction cost of the 3-marla double story house will be between PKR 1,000,000 and PKR 1,200,000. Meanwhile, that of a 5-marla unit will fall in the range of PKR 1,800,000 to PKR 2,000,000.
According to the Urban Unit experts, the proposed subsidy on construction material can bring the cost further down by 20%. Talking about the quality of houses constructed in this project, Rasheed vowed that no compromise will be tolerated on the construction quality. He also indicated that various corporates and departments are being brought on board for the project in a joint venture model.
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