Lahore: The Punjab Housing and Town Planning Agency (PHATA) has announced the plot prices, payment plans and other specifications for securing property purchases under the government’s Naya Pakistan Housing Programme (NPHP), according to news sources.
The details of the terms and conditions communicated by the authority are as follows:
• Applicant should hold a Punjab-issued computerised national identity card (CNIC).
• Applicant should not own any private house or residential plot.
• Applicant shall follow all the rules and regulations communicated by PHATA.
• The applicants are to submit a (non-refundable) PKR 250 fee for application processing at the selected branches of the Bank of Punjab (BoP). The applicants would also submit their affidavits, attested CNIC copy, two passport sized photos with these applications.
• The applicant will submit PKR 10,000 as token money with the application, which is refundable in case of he/she does not secure a place in the ballot process.
• Those who are unsuccessful in the ballot can get their token money returned by presenting receipt at the relevant BOP branch.
• After the ballot has been conducted, winners’ credentials are verified and offer letter has been issued; the winners are obligated to submit 20% of the plot’s total price as down payment. In case of non-compliance the token money of PKR 10,000 will be confiscated by the government and the allotment will be cancelled. In case of allotment cancellation, the said plot will be awarded to the next applicant on the waiting list.
• After getting the on-spot possession, the allottee is obligated to initiate construction (as per the PHATA-approved building plan) within six months or lose the allotment. No extension will be granted in this regard.
• The remaining plot amount is payable in 36-monthly equal instalments.
Please note that the plot prices and payment schedules vary depending on the city and the region. Interested candidates can get further information at the contact numbers provided by the department for different cities in the province. The deadline for applications’ submission is December 20, 2019.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
