The Punjab government, under the leadership of Chief Minister Maryam Nawaz, has unveiled a new housing scheme aimed at providing 100,000 apartments to citizens in six cities with monthly installments of Rs 26,000.
According to media reports, the total price of the apartment is Rs1.5 million only.
The Housing Department has presented initial recommendations to the provincial government for its ‘Apni Chat, Apna Ghar’ project. The scheme will initially roll out in Lahore, Rawalpindi, Faisalabad, Sialkot, Multan, and Sargodha.
The Punjab government has directed the Social Protection Authority to formulate rules and regulations for the scheme.
To encourage the construction of these apartments, the Punjab government will provide a 60 percent subsidy while prospective homeowners will be able to purchase apartments by paying 40 percent of the total cost in installments.
As per the recommendations presented to the government, the construction of 5,000 apartments is planned on Raiwind Road in Lahore.
It is worth mentioning here that CM Maryam Nawaz has initiated different schemes for the underprivileged segment of the society in the province.
