In a bid to provide affordable housing to the lower and middle-income groups, Prime Minister of Pakistan Imran Khan has launched a housing project in Lahore under the newly introduced Punjab Peri-Urban Low-Cost Housing Scheme.
Let’s take a further look at this scheme and how it will help the salaried and working-class groups in the province.
Everything You Need to Know About the Punjab Peri-Urban Low-Cost Housing Scheme
The Punjab Peri-Urban Low-Cost Housing Scheme is the latest affordable housing programme launched by the federal government in collaboration with the Government of Punjab and Naya Pakistan Housing and Development Authority. The project has been designed for the low-income groups residing in smaller cities, towns and rural areas.
While addressing the ceremony following the groundbreaking of the project in Lahore, the premier said the government aims to provide shelter to the underprivileged masses through the Punjab Peri-Urban Low-Cost Housing Scheme. He also added while the higher-income groups with sound financial resources have been able to build their own homes, the working class has been unable to do so, which has pushed them to live in slum areas.
Accompanied by Punjab Chief Minister Usman Buzdar and Minister of State for Information and Broadcasting Farrukh Habib, the prime minister further said societies can only progress once the living standard of the poor and underprivileged segments are upgraded.
Discussing the economic benefits of affordable housing, Khan stated the boom in Pakistan’s housing sector will have a positive impact on several other industries, which can be great for the national economy.
“Thirty sectors are linked to the housing sector as well,” the PM said, according to the reports published by leading media outlets.
The premiere also virtually launched the Punjab Peri-Urban Low-Cost Housing Scheme in 10 tehsils across the province, including Dera Ghazi Khan, Khushab, Khanewal, Mianwali, Sargodha, Mandi Bahauddin, Mandi Bahauddin, Jalalpur Pirwala and Chunian.
In the first phase of the project, the Government of Punjab will provide funds and land for the infrastructure development at the designated sites. The Punjab Board of Revenue has reportedly offered 133 sites in 35 districts of the province at a very low cost for the construction of small residential societies featuring 100 to 500 units.
The development work will be carried out by the Frontier Works Organization and National Logistic Cell, which will construct small housing units of area size 3.5 marla under the Punjab Peri-Urban Low-Cost Housing Scheme.
In the later phase, the project is expected to be expanded to all 143 tehsils of Punjab. In addition, the designated sites can be extended to comprise 4,000 houses.
It is also worth mentioning the government has announced to provide subsidies for each housing unit under the programme. Moreover, mortgage facilities are also being arranged for those who wish to buy homes under Mera Pakistan Mera Ghar, the government’s mark-up subsidy programme.
There you have it – a roundup of all the information on the Punjab Peri-Urban Low-Cost Housing Scheme. If you want to learn more about the low-cost housing schemes in Pakistan, stay tuned to Zameen Blog, the best real estate blog in the country.
In the meantime, you can also take a look at our comprehensive guides on the Naya Pakistan Housing Scheme.
Disclaimer: This blog will be updated with the latest information about the Punjab Peri-Urban Low-Cost Housing Scheme as more information is released. Therefore, make sure to check back frequently.