Lahore: A meeting hosted through a video link and chaired by the Chief Minister of Punjab, Sardar Usman Buzdar discussed the construction of a low-cost housing project for the underprivileged citizens of Pakistan, according to news sources. The construction of houses for low-income people is the flagship programme of the incumbent government. Through this scheme, all those who can never imagine owning a house will now be able to do so that too at subsidized prices.
The meeting that happened through a meeting link, while discussed salient features of the low-cost housing project, also discussed the identified sites where these housing projects will be developed.
During his address, the chief minister told the meeting that 133 sites have been identified to build the prime minister’s low-cost housing project for low-income people. The construction of these houses will be in different phases and for the first phase of the project, 54 locations have been finalized. Out of these 54, development works on 32 sites will be started on a priority basis. The chief minister also told the meeting that 10 of these projects will be commencing development concurrently in Raiwind, Lahore and Prime Minister Imran Khan himself will launch it.
Talking about the details of the project, CM Usman Buzdar told the meeting that Punjab has given PKR 3 billion to start the development of the project at various shortlisted sites. The size of the house has been changed from previously chosen standard 3 marla to 3.5 marla and the applicants can get the financing from the Bank of Punjab (BOP).
The price for each residential unit will be PKR 1.43 million out of which 10% will be paid by the applicant and the remaining will financed by the bank at easy monthly instalments of PKR 10,000. The possession of the houses will be allotted to the owners in a brief time period of 1 year.
The meeting was also attended by Special Assistant to Prime Minister Dr Firdos Ashiq Awan, Chairman Planning & Development (P&D), secretary housing and president of Bank of Punjab (BOP) among other members.
The work is already in progress on different sites in Punjab including Sargodha, Chiniot, Lahore, DG Khan, Khushab, Mianwali and Khaneywal.