Ashiana-e-Iqbal Apartments is one of the government’s low-cost housing projects aimed at catering to the residential needs of the low-income strata.
Considering the affordability factor, many people applied to book an apartment in the project, but they are still waiting for balloting to take place and the Punjab Land Development Company (PLDC) has not announced anything officially in this regard yet.
The summary for balloting of apartments was sent to Punjab Chief Minister (CM) Shahbaz Sharif last year, probably in December, and now the CM has to grant approval for it.
According to a source, the CM’s approval is expected by the end of this month, however, there is no official word on it.
Almost 10,000 apartments will be developed in collaboration with Turkey, while the PLDC has received approximately 70,000 applications for these apartments.
Why is it an affordable project?
The apartments in question will be made available on easy instalments spread over 10 years and the monthly instalments for different apartment categories are quite affordable. Please see the table below to have idea of the project’s affordability:
|Apartment Type||Down Payment||Monthly Instalments for 10 years||Non-refundable Application Fee||Total|
|500 Square Feet(1 Bedroom)||PKR 239,800||PKR 7,993||PKR 800||PKR 1,199,000|
|600 Square Feet(2 Bedroom)||PKR 279,800||PKR 9,327||PKR 900||PKR 1,399,000|
|700 Square Feet(3 Bedroom)||PKR 319,800||PKR 10,600||PKR 1,000||PKR 1,599,000|
This payment plan was available on PLDC’s website before, but is not there now. Perhaps, the PLDC is updating its website, as I can see some design changes on the portal. I hope, the PLDC is not going to change the payment plan.
That’s all I have to share about Ashiana-e-Iqbal Apartments for now. I am keeping a close eye on the project to provide you updates as soon as they become available.
I also have a list of applicants with me. If you want to check whether your name is in the list or not, please share your name and NIC number with me in the comments section below.
Let’s hope the authorities concerned will ballot apartments by the end of this month. I wish all applicants the very best of luck!