Lahore: The Punjab Housing and Town Planning Agency (PHATA) has uploaded the details of the plot price, payment plan and requisite conditions that have been determined for applicants that are interested in applying for a unit under the Naya Pakistan Housing Programme (NPHP) in Lahore. These details are also available on the application forms issued by the authority for the registration process.
The application form available on the PHATA website for the NPHP project contains the details on the payment plan for 3-marla residential plots only. The form specifies the per marla rate of PKR 150,000 as a ‘tentative price’.
The applicant should not own a house or a residential plot
The processing fee of PKR 250 is non-refundable
Those who are unsuccessful in the ballot can collect the token money (PKR 10,000) by presenting their payment slip at the concerned Bank of Punjab branch 15 days after the ballot’s conclusion.
The successful applicants will be required to pay the down payment amount (PKR 90,000) within 20 days of receiving the offer letter. In case of non-payment, the token money will be cancelled and considered a government asset. In addition, the allotment will also be cancelled; the plot will instead be offered to the next candidate in the waiting list.
Within six months of getting possession of a plot, the allottee will be bound to start construction of their house according to the map/building plan approved by PHATA. The allottee will get no extension in this regard and in the case of non-compliance, the authority will cancel their plot allotment.
The remaining amount has to be cleared in 36 monthly instalments.
As announced earlier, the government of Punjab extended the registration deadline for NPHP to December 15. The application form for NPHP Lahor project, however, states that the forms can be submitted latest by December 26 at the designated branches of Bank of Punjab.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
