Punjab Government to Provide Interest Free Loans for Homes – Startup Pakistan

Punjab Chief Minister Maryam Nawaz has approved three models for the ‘Apni Chhat, Apna Ghar’ project, which aims to provide interest-free loans to plot owners. During a special session, Nawaz reviewed the progress of the project and endorsed key decisions to move it forward.

Housing Secretary Asadullah Khan explained the details of the initiative. One important feature is the development of an online portal by the Punjab Information Technology Board (PITB).

This portal will make it easy for people to submit their applications for the project. Additionally, application forms will be available at local government offices for those who prefer to apply in person.

The project targets around 70,000 plot owners, offering them interest-free loans with flexible repayment plans. The government will cover the service charges for these loans, making it easier for people to build their homes without additional financial burden.

Set to launch on August 14, the project includes the construction of model homes and a feasibility study for apartment developments. This will give plot owners a clear idea of what they can expect and help them plan accordingly.

Owners of one to five marla plots can benefit from these loans. Additionally, those who have been allotted plots in the ‘Phatta’ scheme will receive three and five marla houses in private housing schemes.

CM Nawaz has directed that living rooms be included in the design of the model homes and that no service charges be imposed on the loans.

The ‘Apni Chhat, Apna Ghar’ project represents a significant effort by the Punjab government to support home ownership and improve living conditions for many residents.

With the approval of these models and the planned launch, the project is set to make a positive impact on the lives of thousands of plot owners across the region.