Islamabad: Prime Minister (PM) Imran Khan on Thursday (July 29) performed an e-ballot to determine 2,000 successful applicants for LDA City Naya Pakistan Apartments, according to a news source. The project is part of PM’s Naya Pakistan Housing Programme (NPHP) initiative, under which 5 million low-cost houses are to be constructed for the deserving.
As per the plan, the Lahore Development Authority (LDA) will construct 4,000 low-cost LDA City Naya Pakistan Apartments. Out of these units, 2,000 are for the members registered under the Naya Pakistan Housing and Development Authority (NPHDA), while the remaining are for the LDA employees. Earlier in April, the LDA announced the names of 2,000 successful NPHDA applicants for these apartments.
As per the statistics shared by the State Bank of Pakistan, out of the total applications received for low-cost houses from the residents of Lahore, 3,890 applicants had qualified for mortgage financing. And out of these, 2,483 were received for the LDA City Apartments.
As announced earlier, the government has subsidised PKR 300,000 for each apartment. The total of an LDA City flat starts from PKR 2.7 million, and each applicant has to pay PKR 270,000 (10 %) as a down payment, with the remainder to be paid in form of instalments over the course of 5 to 20 years. The applicants would start paying the instalments after they occupy the apartments.