1M Allocated for Each New House Under AGAC
The Punjab Government has announced a significant development following a recent meeting between Chief Minister Maryam Nawaz and Dr. Amjad Saqib, Founder and Chairman of Akhuwat and former Chairman of 8171 BISP. During the discussion, they addressed various issues that the Punjab Government aims to resolve. Dr. Saqib commended Chief Minister Maryam Nawaz Sharif for her leadership in initiating the “Apni Ghar Apni Chat” scheme and for reducing electricity costs.
Launch of New Housing Scheme
Chief Minister Maryam Nawaz has unveiled a new housing initiative designed to provide affordable housing solutions to those who struggle to build a home on their own. Dr. Saqib praised the “Apni Ghar Apni Chat” scheme, emphasizing its significance in providing cost-effective housing to disadvantaged communities. He highlighted the “Apni Chat, Apna Ghar” initiative as one of the largest and most economically efficient housing projects in Pakistan’s history.
Government to Offer Subsidized Homes with Interest-Free Loans
In her announcement, Chief Minister Maryam Nawaz detailed that the government will offer subsidized homes along with interest-free loans to alleviate financial burdens on the public. The program will feature affordable monthly installments to make homeownership more attainable. Maryam Nawaz underscored the initiative’s commitment to promoting environmentally friendly and sustainable housing, highlighting its potential to improve many families’ lives and create employment opportunities.
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She also noted that this initiative is Pakistan’s first to offer interest-free loans for home construction, demonstrating the government’s dedication to prioritizing housing for underserved populations and ensuring that providing homes for the homeless remains a key objective.
Program to Be Launched in Three Phases
The “Apni Chhat, Apna Ghar” program will be introduced in three phases. In rural areas, residents can apply for loans of up to Rs. 1.5 million for plots up to 10 marlas. In urban areas, the loans will be available for plots up to 5 marlas, with interest-free monthly repayments of approximately Rs. 14,000.
The initiative will also include the construction of four-story apartments on government land in major cities, allocated through a lottery system with easy installment plans. Additionally, three to five marla homes will be available through private housing programs, with up to Rs. 1 million in government subsidies for each property. Applicants for these private housing options will be able to become homeowners by making final installment payments over five years.
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Conclusion
The “Apni Chhat, Apna Ghar” initiative, led by Chief Minister Maryam Nawaz Sharif, represents a major advancement in providing affordable housing for low-income families in Punjab. With interest-free loans, government subsidies, and flexible repayment plans, this program aims to make homeownership accessible to those who have previously struggled to afford it.
