About Home Loan Calculator
Everyone dreams of owning their own house at some point in their life. However, this is not easily achievable given the fact that the process requires a lot of dedication, consideration, and of course, money. Having said that, this does not mean that you should become disheartened with the entire venture, and not give it a shot.
The process of buying a house or property, in general, can seem particularly threatening for first-timers. No matter where in the world you are, there are some legal aspects attached to buying a piece of real estate that you need to look out for. To make the whole endeavor easier for buyers, Zameen introduces Home Loan Calculator. Additionally, there are numerous home/house financing options available in the market with almost every major bank trying to provide the best means to address this pressing issue. Use this tool to evaluate the best house financing option there is.
Now if you are worried about how you can score a decent home loan in Pakistan, there’s no need to fret! You can easily find a bank plan that suits your financing/payment needs. However, it is pertinent to mention here that your eligibility for these various house financing options depends on several factors – ranging from your salary to your nationality. Also, different banks have different eligibility standards when approving home loan applications. Therefore, to figure out the best bank in Pakistan for the purpose, weigh your options carefully with Zameen’s Home Loan Calculator.
In addition, the sanctioned loan amount, as well as the duration you have to repay it over, may vary from bank to bank. Your debt-to-equity ratio is also an important factor, so make sure that you have a strong case to present when submitting your house loan application.
Frequently Asked Questions (FAQs)
What is KIBOR?
How is the compound interest in home loans calculated?
What is the basic eligibility criteria for home loans?
Sariab Road Residenia-Quetta: FGEHA extends membership deadline
Quetta: The Federal Government Employee Housing Authority (FGEHA) and the Pakistan Housing Authority (PHA) Foundation have extended the membership deadline for the Sariab Road Residencia, an advertisement in the leading daily announced. The new deadline is June 30, 2022, with a fixed non-refundable membership fee of PKR 5,000. Read: Work expedited on FGEHA projects for provision of modern residential facilities As per the advertisement, the membership will be offered on a first-come-first-served basis with limited membership slots available. All those people who have previously applied for membership are required to not submit applications again. Project Details The said apartment project is being built on the Main Sariab Road, next to the Federal Government Service Colony in the middle of Quetta city. The apartments will be developed over three years on a 26-acre piece of land. The flats will be available on a 36- monthly instalment plan. Read: FGEHA, PHA opens registrations Sariab Road Residencia According to the details shared, the project would have two categories of apartments: Category-A and Category-B. The A-category apartments (reserved for employees of BPS17-22) will be 1,123 sq ft in size, with two bedrooms, a lounge, a drawing-room, a kitchen, and two attached bathrooms The B-category…
New Peshawar Valley’s master plan to be approved in next meeting
Peshawar: Khyber Pakhtunkhwa (KP) Chief Minister (CM) Mahmood Khan chaired a meeting that informed the master plan of New Peshawar Valley has been finalised and will be presented in the next Peshawar Development Authority’s board meeting for approval, according to a news story published on May 23. Read: Peshawar Valley City: Work on feasibility study, planning, design in process During the meeting, the attendees were briefed about the details of the master plan. As per the details, 36% area of the housing scheme has been reserved for residential apartments, while the remaining area will be used for the development of commercial spaces, utility areas, open spaces, roads, graveyards, public buildings, parking parks, and other facilities. Moreover, the New Peshawar Valley project will feature 76,000 residential plots of different categories along with an education city, sports city, and education city equipped with facilities of international standards. It was also disclosed that the project includes the Gandhara museum, adventure area, theme park, cultural village, and forest. Read: PMU set up to speed up execution on Gandhara Valley City project Reportedly, the said project is the only project that is being set up under the land-sharing formula. CM Khan directed the authorities concerned…
RDA to kick start Kutcherry Chowk remodelling project soon
Rawalpindi: The Rawalpindi Development Authority (RDA) will start working on the PKR 5 billion Kutcherry Chowk remodelling project soon, news sources reported on May 23. The Project Concept-1 (PC-1) and the feasibility report of the project have already been approved. Read: Expansion of road connecting Kohat’s Kutcheri Chowk with PAF Square in works In a media briefing regarding the project, RDA spokesperson Hafiz Irfan stated that the authorities will work on the relocation of telephone lines, gas pipelines, and other municipal utilities in the first phase of the project. After the first phase is completed, the development of the signal-free corridor will begin. Furthermore, he stated that the project will entail the building of a flyover and three underpasses to accommodate a larger volume of traffic. Read: RDA shares development plan, seeks PKR 1.18 tr for infrastructure It is worth noting here that the Kutcherry Chowk project is one of the three mega projects launched by RDA for the traffic management of the city. The other two projects include the construction of Ammar Chowk and the Defence Road project.
Import Ban: Govt exempts businesses with LCs opened before 19th
Islamabad: In order to facilitate importers, the government has exempted all those businesses from the import ban whose Letters of Credit (LC) had been opened by banks before May 19, news sources reported on May 19. A notification in this regard was issued by the Ministry of Commerce to accommodate importers. Read: Pakistani rice gets import clearance from Russia All importers who have already placed orders through the proper channels will be excluded from the new notification. Similarly, the notice exempted any consignments that arrived at ports prior to the announcement of the May 19 import embargo. Following this notice, all of these consignments will be cleared by customs officers in accordance with the laws and regulations. Consignments whose LCs were opened after the ban announcement, on the other hand, will not be cleared till further notice. It is worth noting that the government has banned the import of luxury non-essential products in order to address the country’s growing current account deficit (CAD). Read: Govt imposes ban on import of luxury commodities to save revenue The government has banned the import of products falling into a total of 33 categories including food products, automobiles, and other products that will not…
Drones purchased to monitor fire incidents in Margalla Hills: CDA
Islamabad: The Capital Development Authority (CDA) has acquired drones to monitor fire incidents at Margalla Hills National Park (MHNP) in an effort to control rising forest fire incidents, according to news published in the leading newspaper on May 20. Read: Anti-encroachment operation underway at Margalla Hills The officials of CDA and Islamabad Wildlife Management Board (IWMB) briefed the Senate Standing on Climate Change about the drones. As per the details, CDA Director Environment Irfan Niazi disclosed that the CDA firefighters have assisted Khyber Pakhtunkhwa’s authorities to put out forest fires thrice this season. Read: Drones to be used for Margalla plantation drive Previously, the CDA held a meeting in which the use of drone technology for forest fires was discussed. It was mentioned that through drones the administration will be able to timely identify the fires and its causes. During the meeting, it was disclosed that the joint teams of district administration, IWMB, and CDA will patrol the forest areas to take action against people involved in deforestation.
Sindh to plant 40,000 plants in Clifton Urban Forest
Karachi: The Sindh government will plant 40,000 plants in the Clifton Urban Forest, located in the Marine Promenade area, news sources reported on May 18. The plantation drive will be completed in collaboration with the Standard Chartered Bank (SCB). Read: Sindh launches urban forest project near Clifton Beach According to a statement issued by the involved authorities on Tuesday (April 17), the endeavour would assist in lowering the region’s carbon footprint and maintaining biodiversity. SCB Chief Executive Officer (CEO) Rehan Shaikh stated on the occasion that their organisation is involved in environmental activities as part of their corporate social responsibility initiatives. He also stated that Pakistan’s future lies in the establishment of long-term programmes aimed at combating climate change. Moreover, the initiative will have a substantial impact on emissions and will assist Pakistan in meeting its emission targets. Read: Sindh to complete land procurement for M-6 Motorway by July It is worth noting that the Clifton Urban Forest was inaugurated by Karachi Administrator Murtaza Wahab. The forest is being built in collaboration with Sindh Radiant Organisation (SRO), a non-governmental organisation (NGO), and has been named after Mrs Deena Mistri in recognition of her 60 years of excellent contribution in the…
WB approves PKR 56.7 bn loans for solar power project in Tarbela
Islamabad: The World Bank (WB) has approved loans worth PKR 56.697 billion for the installation of 300 MV Floating Solar Photovoltaic (FPV) in Tarbela Ghazi Hydropower Generation Complex, according to a news story published in the national dailies on May 18. Read: CDA mulls plan to use solar panels to generate electricity As per the details, the WB will be financing the solar power project at water bodies in Tarbela Ghazi Hydropower Generation Complex through a soft loan. Under the said project, 300 MV FPV will be installed on two water bodies; 150 MW at Ghazi Barrage Head Pond and 150 MV on Ghazi Barotha Forebay. Read: WAPDA to convert water supply schemes to solar power in KP Moreover, the solar power project will raise the supply of electricity during peak hours and strengthen capacity through large-scale demonstration of solar-hydropower hybrid operation. It was mentioned that there are several reservations about the project. It was suggested to execute a generation capacity expansion project on Independent Power Producers (IPP) model. Also, WAPDA was recommended to focus its available capacities on water resources and hydropower development. The solar power project will be implemented by Alternate Energy Development Board (AEDB).
Resolution passed to ban polythene bags in Karachi
Karachi: Karachi Metropolitan Corporation (KMC) Administrator Barrister Murtaza Wahab approved a resolution to ban polythene bags in the city, according to a news published on May 20. Read: EPA launches crackdown against polythene bags’ use in Islamabad As per the details, the resolution will completely ban the use, sale, and manufacture of polythene bags in the city in a bid to prevent its adverse impacts. KMC will take legal action against the violators after June 15. Read: KP CM bans use of polythene bags; orders strict action against violators Reportedly, a resolution was presented to KMC administrator Wahab stating that the use of polythene bags in the last many decades has increased. During the cleaning work of drains, it was observed that city drains were filled with polythene bags. Keeping this in mind, the Sindh Planning and Development department has advised placing a ban on polythene bags. KMC was requested to grant approval for the complete ban on polythene bags.
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