Khyber Pakhtunkhwa government has formally launched the flagship project “Ehsaas Apna Ghar Scheme” under which interest free loans will be provided for the construction of houses.
Special Assistant for Housing Dr. Amjad Ali has said that interest-free loans of Rs 1.5 million per person will be given. He said that the loan will be given to those whose monthly income is less than Rs 100,000 and the loan repayment period is 7 years, while the monthly instalment will be Rs 18,000.
According to Dr. Amjad Ali, the loan is for those who have a plot or house of 5 marla or less, while the age limit for the loan is 18 to 55 years.
The aim of the scheme is to provide interest-free and Sharia-compliant loans to the poor and lower middle class of the province, so that they can build, repair or improve their own homes.
This project has been included under the Provincial Development Program. Initially, 5,309 houses will be built under the scheme, which will cost Rs 4 billion.
The Ehsaas Apna Ghar project will be expanded to 11,196 houses in the next seven years and the total cost will reach Rs 8.95 billion.
Some basic conditions have also been set for the applicant. The applicant must be a resident of Khyber Pakhtunkhwa, between the ages of 20 and 50, and have a monthly income of less than Rs 150,000.
Along with this, the applicant must have an identity card, an active bank account, a balloting certificate from the Pakhtunkhwa Housing Authority or proof of land ownership.
Bank of Khyber has been appointed as the service provider for the project, for which a formal agreement was signed on December 13, 2024. The project was approved in the cabinet meeting on October 24, and PC-1 was approved for Rs 4 billion, after which the Development and Planning Department also approved it.
