Naya Pakistan Housing Program Launches Low Cost Housing Schemes in Punjab
Naya Pakistan Housing Program has finally launched the first drive of low cost housing schemes in interior Punjab, whereby local residents can apply for 3 marla and 5 marla affordable housing units on easy installments. Applications have been invited from general public, and allotment will be subject to success in the computerized ballot.
Initially, the low cost housing schemes are planned in 3 districts, i.e. Renala Khurd (Okara), Lodhran and Chishtian. All the basic development work for the schemes has been completed already, and constructions will start right after the allotments are finalized.
Following are the basic facilities and amenities planned in Naya Pakistan Housing Schemes:
- Carpeted Roads
- Underground Sewerage
- Regular Water Supply
- Underground Electricity
- Full Proof Security System
- Primary and Secondary Schools
- Parks and Play Grounds
- Jamia Mosques
- Commercial Area
- Community Center
- Fiber Optic Internet
These low cost housing units will be constructed in 2 different sizes, i.e. 3 marla and 5 marla. You can either choose a single storey house having 1 or 2 bedrooms, or you can choose a double storey house having 3 or 4 bedrooms.
Following are the estimated prices of 3 marla and 5 marla houses:
Please note that the given prices are just estimates, so actual price of a unit can be a bit lower or a bit higher than above. Moreover, the given prices do not include gas connection charges.
This scheme is meant for the residents of Punjab only, so anybody from any district of the Punjab can apply for this scheme. Only condition is that the applicant shouldn’t already possess any plot or housing unit. Residents of Chishtian, Renala Khurd and Lodhran will be given priority. Overseas Pakistanis from the subject districts can avail 5% discount if they apply for a housing unit.
Application forms can be obtained from and submitted in the nominated bank branches of Bank of Punjab latest by 31st of March, 2019. You can also download the soft copies of application forms attached below, and submit the printed copies at the designated branches of BOP.
Following are the designated branches of Bank of Punjab:
The applicant will need to fill out the application form properly, attach 2 passport size photographs and a copy of cnic/nicop; and submit the same along with PKR 250/- (non-refundable) processing fee.
Additionally, PKR 10,000/- token money (refundable) will be payable at the time of submission of application. Same amount will be adjusted in 10% down payment in case of allotment after the ballot, otherwise the amount will be refundable from the same branch of BOP after 15 days of the ballot.
After the down payment, remaining amount will be payable through easy monthly or quarterly installments. Possessions of the housing units will be handed over within 2 years to the allottees. The allottees will not be able to sell their housing units before 5 years, as this project is meant only for the genuine housing requirement of general public.
It is important to mention here that loan facility is also available for the eligible applicants through house building finance company, meezan bank and the bank of punjab. You will have to go through the lending terms & conditions of the given banks to apply for the facility.
Following is a copy of the newspaper advertisement of Naya Pakistan Housing Scheme:
