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HomeLatest NewsInstallment breakdown of Government’s affordable housing initiative revealed

Installment breakdown of Government’s affordable housing initiative revealed

Islamabad: According to an advertisement published in a major newspaper today, 20th January, the federal government, the State Bank of Pakistan (SBP) and the Naya Pakistan Housing and Development Authority (NAPHDA) have revealed the payment plan and installment plans for the markup subsidy announced for the ‘Mera Pakistan – Mera Ghar’ inventiveness.

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According to the details revealed, the government is offering home loans of up to Rs. 5 million for a tenure of 10 to 20 years, at a supported mark-up rate of 5% and 7% respectively.

The monthly instalment for the first five years of the 20-year loan facility is set between Rs. 6,600 and Rs. 38,765 per month. Reportedly, the government has allocated over Rs. 33 billion for this facility. Also, Rs. 300,000 cost subsidy will be offered to the first 100,000 housing.

Individuals, who want to avail this subsidy facility are requested to visit a domestic commercial bank branch of their choosing or the office of the House Building Finance Company (HBFCL).

For more information visit our website Property News.


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