Ashiana Housing Project – Housing Scheme in Lahore

December 9, 2010 • Housing Schemes,Pakistan Real Estate

Ashiana Housing Project is the latest addition in the relatively small list of housing schemes in Lahore, especially those which are planned with the objective of providing housing to lower-middle class of the society (who otherwise can just dream of owning a house in their lifetime). Ashiana Housing Scheme is a project by Punjab Land Development Company (PLDC) in collaboration with Bank of Punjab (BOP) that will be providing the financing facilities to the successful applicants. According to the plan, more than six thousand housing units will be built at the location of Soo-e-Asil on 3 and 5 Marla plots. 3 Marla homes are priced at Rs. 840,000, while the 5 Marla ones will be available at Rs. 1,190,000, monthly installments for these housing units are set at 4500 and 7500 respectively. Only the individuals with a monthly income of less than 20,000 PKR are eligible to apply. The interested buyers must fill a form provided by PLDC and submit with a processing fee of Rs. 890 at the Bank of Punjab. The buyers will be selected via lucky draw.

The Good:

Real estate prices in Lahore are almost unreachable when it comes to middle or lower-middle class. The good thing about Ashiana Housing project is that it targets the people in low-income bracket while promising world class residencies. Another good thing about this project is the measures taken for fending off imposters looking to take advantage of this scheme. For example, the agreement states that the allottee must move to their property with the family, within 90 days of allotment, or else the allotment will be canceled after waiting for 6 months. More importantly, the allottees are not permitted to sell or rent their homes within 5 years of allotment.

The Bad:

Developers are promising all kinds of standard amenities like parks, commercial areas, spacious roads, and community centers, however, all housing projects look good as long as they are on the paper. It is actually the implementation that really matters. Knowing that this particular project will be accommodating only the lower-middle class, one can expect some delays and hiccups in the proceedings. Also, monthly payments, while not as much as the average market price, are still on the higher side, when we look at the limit of monthly income. It wouldn’t be easy for a family with a joint family income of less than 20,000, to keep aside monthly installments of 7500? Also, the backing of Punjab government (which is supposed to be a good thing) will put a question mark on the future of Ashiana Housing scheme, as soon as the government changes.

In any case, these are just speculations and we can only hope that the “bad” will not turn into “ugly” once the project gets going.

16 Responses to Ashiana Housing Project – Housing Scheme in Lahore

  1. Munir ahmad khan says:

    Ashiana project is the dream of middle class community for residence. May Allah success this housing project inaugurated by CM Punjab.

  2. Ch Jamil Akhtar says:

    Ashiana Housing Scheme Project is very very suitable plan for middle class families. 5Marla house is in Rs 1.19 million is very suitable Price.

    The installment Rs 7500 means, you will pay in 13 years time. We should appreciate this nice project backed by Punjab Government and The Support by Punjab Bank. My Wife is School teacher,so we want to book a house on her name Allah help to all those ,having interest to provide this project.

    Ch Jamil Akhtar

  3. Waqar says:

    I think this is good for middle and lower class families like us!
    hope so it will reach its accomplishment of promise!!

  4. Surooj Khan says:

    Sounds good but I’d like to add another “Bad” to your list, The project is located at Soo-e-Asil and one can imagine the trouble these lower-middle class families will have while traveling all the way from Soo-e-Asil to their workplaces or markets (you don’t expect families belonging to that income bracket to have their own cars)

  5. SABIR says:

    Qurra andazi kb honi hay?

  6. akram bhatti says:

    Asslamu Alaikum,

    My mother in law lives in the USA but she wants to move to Pakistan Lahore. She has no income only she gets the pension. Her husband passed away in 2000. Please let me know how to apply for her.

    Thanks

  7. miss Nadeem says:

    Ashiana Housing Scheme Project is very very suitable plan for middle class families .3
    Marla house palez sir reaply

  8. shumaila says:

    Hi, I want to get information about this housing scheme. Can we apply now?

  9. muhammd waleed says:

    How much is the down payment?

  10. Khadim Jarral says:

    In above detail the cost of 3 Marla house is given as Rs 8,40,000 whereas it is reported that for Kamahan Ashiana 3 marla cost of Rs 11,45,000 is being charged. Which one is correct?

  11. Naeem says:

    Sir, mjy mri family k liye aik ghar chahye hai agr ap mri help kr sakein tooo?

  12. Sehrish says:

    How much will be the first installment?

  13. Sehrish says:

    What are the terms and conditions to apply? I want 2 buy my own house…..

    • Shehryar says:

      @Sehrish you can contact any agent to know the terms & conditions for investing in this society.

      @Name apka naam kia hai wo ap ne likha nai :) apko ghar kahan chaye I can only guide you.

      Regards,
      Shehryar

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