Prime Minister Imran Khan has launched another extension of the Naya Pakistan Housing Programme in Sargodha. The residential housing project will be constructed at 6 different places in Sargodha District and a total of 1,175 houses will be constructed. This extension of the Naya Pakistan Housing Project in Sargodha fulfills Prime Minister’s vision to convert the country’s slums into well-developed areas. Under this project, the prime minister has promised to construct 5,000,000 homes for low underprivileged, and less fortunate citizens of the country.
Facts About Naya Pakistan Housing Programme in Sargodha
Naya Pakistan Housing Scheme is another step of the government to facilitate the low-income class of the society and help them build their own home through subsidy and easy monthly instalments. Prime Minister, while talking at the inauguration ceremony of the Naya Paisan Housing Programme in Sargodha, said that the residential project will be completed in the time span of two years and houses will be provided to those who can’t afford loans from the banks.
The project will be constructed at six different sites and the Punjab government has been assigned the responsibility to provide land as well as other facilities to successfully complete this project in the desired time. About 33,528 applications have been received by interested people for this housing project and all the houses will be given through balloting. The mortgage loan to the deserving will be provided by the Bank of Punjab (BoP) which can be paid in easy monthly instalments.
One of the reasons to build the Naya Pakistan Housing Scheme across Pakistan is that it will provide an opportunity to those who are living illegally in the slums. About 40% of people living in Karachi are living in slums and illegally and don’t even have basic facilities like a sewerage system. This is for the first time a peri-urban scheme is being developed across Pakistan so that people living in underprivileged areas can also own a house.
Size of Housing Units
Initially, the programme will start in 31 tehsils of Punjab but the plan is to spread it to all tehsils by the end of the year 2021. In the district of Sargodha, the construction of these housing units has started at 6 different locations where a total of 1,175 housing units of 3 marla will be built.
At the groundbreaking ceremony, the premier lauded the efforts of the Chief Minister of Punjab Usman Buzdar for aligning all the resources and departments involved in building this project.
Location Of The Project
As mentioned earlier, the land to construct Naya Pakistan Housing Programme in Sargodha has been provided by the Government of Punjab. Although it has been told that the project will start at 6 different locations, the details of these sites have not been released yet.
Please bookmark this blog for updates on the location of Naya Pakistan Housing Programme in Sargodha.
Cost Of Initial Phase Of The Project
The exact cost of housing units has not been disclosed yet. That said, there are a few details that Prime Minister Imran Khan shared during the inauguration ceremony of Naya Pakistan Housing Programme in Sargodha.
The deserving people who also got their names on the ballot will be able to get a residential unit on a monthly instalment of PKR 5,000 to PKR 10,000 for 20 years and 10 years instalment plan respectively. Moreover, the land, subsidy of PKR 300,000 and subsidized interest rate will also be provided by the government in order to reduce the cost as much as the government can. The mortgage loans for Naya Pakistan Housing Programme in Sargodha can be acquired from the Bank of Punjab (BOP) and the construction of the project will be done by Frontier Works Organization (FWO).
Benefits of Naya Pakistan Housing Programme
This programme will have following benefits:
- Low-cost housing project
- Construction of this project will also kick start 30 other industries
- Wealth creation of country
- Mortgage facility available
- Subsidized housing
- Development of new communities with proper infrastructure
- Job creation (unskilled, semi-skilled, and skilled)
The prime minister also revealed plans to convert slums into developed areas by equipping them with modern facilities like sanitation and a sewerage system.
So, this is all you need to know about the Naya Pakistan Housing Programme in Sargodha. Stay tuned to Zameen Blog for more updates on the project and other news related to the real estate sector of Pakistan.