The Punjab government, led by Chief Minister Maryam Nawaz, has introduced a new housing initiative called ‘Apni Chhat Apna Ghar’. This program aims to provide affordable housing to people by offering easy installment plans and interest-free loans. The launch took place in Lahore, where Chief Minister Nawaz emphasized the importance of owning a home and the challenges faced by those without their own accommodation.
Affordable Housing Loans
The ‘Apni Chhat Apna Ghar’ scheme offers interest-free loans of up to Rs15 lakh. These loans are designed to help people build houses on plots of up to five marlas in urban areas and up to ten marlas in rural areas. The loan amount will be repaid in easy installments over a period of seven years. This initiative aims to make home ownership accessible to more people.
| Feature | Details |
| Loan Amount | Up to Rs15 lakh |
| Repayment Period | Seven years |
| Monthly Installment | Rs14,000 |
| Plot Sizes | Up to 5 marlas (urban), 10 marlas (rural) |
Monthly Installments and Financial Planning
To make the scheme more manageable, Chief Minister Maryam Nawaz has set the monthly installment at Rs14,000. This amount is calculated to cover various living expenses, including education, utilities, food, and medical costs. The goal is to ensure that loan repayments do not strain the borrower’s budget, allowing them to manage their finances comfortably.
Key Features:
- Interest-Free Loans: Up to Rs15 lakh.
- Repayment Period: Seven years.
- Monthly Installment: Rs14,000.
- Plot Sizes: Up to 5 marlas in urban areas, 10 marlas in rural areas.
Application Process
Interested individuals can apply for the housing loans online through the PITB portal. They can also get assistance by calling the toll-free number 080009100. This process is designed to be straightforward and user-friendly, making it easier for applicants to access the benefits of the scheme.
Housing Development Plans
The ‘Apni Chhat Apna Ghar’ initiative aims to construct over 3,000 residences in each district, starting with major cities like Multan, Faisalabad, Sialkot, Sargodha, and Rawalpindi. In Lahore, the first phase will focus on building 5,000 homes near Raiwind Road. This large-scale project is expected to significantly impact the housing market by increasing the availability of affordable homes.
Conclusion
The ‘Apni Chhat Apna Ghar’ scheme is a significant step towards making home ownership more accessible to people in Punjab. By offering interest-free loans and setting manageable monthly installments, the government aims to support individuals in achieving their dream of owning a home. The initiative’s large-scale development plans and simple application process make it a promising opportunity for many.
FAQs
1. How much can I borrow under the ‘Apni Chhat Apna Ghar’ scheme?
You can borrow up to Rs15 lakh under the scheme.
2. What is the maximum plot size for which I can get a loan?
You can get a loan for plots up to 5 marlas in urban areas and up to 10 marlas in rural areas.
3. How long do I have to repay the loan?
The loan repayment period is seven years.
4. How can I apply for the loan?
You can apply online through the PITB portal or call the toll-free number 080009100 for assistance.