Web Desk: Government announced a major housing finance package on Wednesday under the Prime Minister’s Apna Ghar programme, aiming to provide low- and middle-income citizens access to affordable home ownership through long-term installment plans.
The initiative seeks to address the country’s growing housing shortage while boosting activity in the construction and real estate sectors.
Under the scheme, eligible citizens will be able to obtain loans ranging from 2.5 million rupees to 10 million rupees to purchase a 10-marla plot or a ready-built house.
The financing period extends up to 20 years. Authorities said borrowers will pay a fixed 5% markup during the first 10 years, followed by a standard market-based markup for the remaining tenure.
Officials added that the programme offers tiered financing categories, including loans of 2.5 million, 5 million, 7.5 million, and 10 million rupees, depending on applicant eligibility.
The government also outlined estimated monthly repayment amounts. A 2.5 million rupee loan will require an approximate monthly installment of 16,499 rupees, while a 5 million rupee loan will cost around 32,997 rupees per month.
Similarly, a 7.5 million rupee loan carries an estimated monthly payment of 49,497 rupees, and a 10 million rupee loan will require about 65,996 rupees per month.
Officials said these structured payments aim to make home ownership more predictable and accessible for salaried and middle-income households.
Authorities imposed conditions to ensure financial discipline among applicants. They stated that individuals with significant existing loans or outstanding liabilities will not be eligible for the scheme.
Moreover, applicants will be required to contribute 10% of the property value, while the government-backed financing will cover the remaining 90%.
The loans can be used to purchase either a 10-marla plot or a completed house of the same size.
Officials confirmed that financing will be routed through Islamic banks, commercial banks, microfinance institutions, and the House Building Finance Company.
Importantly, they said applicants will not be required to pay any upfront processing fee, which is intended to improve accessibility for first-time homeowners.
The State Bank of Pakistan and the Pakistan Housing Authority Foundation will jointly supervise the programme to ensure transparency and accountability.
Additionally, authorities said the entire application process will be conducted online, with loan approvals expected within one month of submission.
Government officials said the programme is designed to reduce the country’s housing deficit while enabling citizens to achieve home ownership through structured financial support.
Consequently, they expressed confidence that the initiative will stimulate the construction sector and provide long-term relief to housing demand pressures.
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