Pakistan is a developing country, and in the present era Pakistan is going through a highly precarious economic condition, with huge debt burdens, loss in agriculture productions, unemployment and several other issues that our country is facing at the same time. The PTI The government is trying to solve all these issues at the same time and believe that the only one sector can solve most of these issues and that sector is housing, which will conclude finance, construction, and construction material industries. The Naya Pakistan Housing Program will not only help in building up the country’s economy but also create thousands of job opportunities via public-private-partnership. The PM Housing Scheme details shows 50 lacs houses in 5 years, which means 10 lac houses per year that includes 4 lacs/year in rural areas, 2 lacs houses in peri-urban areas per year and 4 lacs housing units/year in urban areas. Naya Pakistan Housing Scheme Registration is open on the online web portal. If you want to learn more about NPHP and current Real-Estate scenario then must visit our website.

Important features of Naya Pakistan Housing Program

  • This initiative will not only cover urban housing but also rural housing which has been neglected for quite a long time and cover about2/3rd of the population.
  • Naya Pakistan Housing Program not only provides facilities on the supply side but also on the finance side.
  • This program primarily focuses on providing a good living to low income families.
  • In this program only the role of enabler and facilitator will be played by the government.
  • Government will provide assistance to low income housing by regulatory incentives.
  • Through this program they will empower developer and planner industries.
  • Land Banking is also an important aspect of NPHP.
  • Efficient use of land will be ensured through slums rehabilitation and resettlement.

Advancement in PM Housing Scheme

Several housing schemes have been started across Pakistan under the banner of Naya Pakistan Housing Program. Since the beginning of the PM Housing Scheme there have been several advancements and improvements from finance programs to the involvement of several important institutions.

NSS based Building Code Developed by PEC

The Pakistan Engineering Council (PEC) developed the first ever National Standard Specifications (NSS) in order to assist in the PM’s vision of providing low cost housing, this is based on the Pakistan’s Building Code. This code will be highly helpful as it is developed by consulting the stakeholders and is developed in a very short period of time (four months). More than 25 housing schemes in Karachi have been approved regarding public sale projects.

Building of 4,400 housing Units by CDA and Raising of Metropolitan Police

As a part of PM Housing Scheme initiative Capital Development Authority (CDA) has approved construction of 4,400 apartments in order to provide residence to the displaced people of katchi abadi. This decision is taken by CDA and NPHP and the allotment of these apartments will be done by auction under the supervision of these two institutions. It is under consideration of CDA to raise Metropolitan Police, which will assist the residents of these areas and also guide and help the tourists at parks and other public places.

Housing Loan Schemes by Commercial Banks

Many of the Commercial Banks like National Bank of Pakistan, Habib Bank, Bank of Punjab, United Bank, MCB Bank, Allied Bank etc. have started housing loan schemes in order to assist the poor people of Pakistan for the construction of their houses. The PM greatly appreciates the efforts of commercial banks in helping people to build their dream houses. In an effort to facilitate citizens many of the housing societies in collaboration with commercial banks are making strategies, so that the middle class would afford a luxury living.

Incentives by State Bank of Pakistan

The State Bank of Pakistan is offering incentives to the banks that are helping in the NPHP, in providing affordable and low cost housing. These incentives come in many forms like giving relaxation in providing loans to borrowers without verifiable income, informal income assessment, relaxation in internal credit risk rating system till Sep 30, 2022 and providing loans for construction/purchase on behalf of existing residential property or liquid. If you want to get an excellent idea about the construction cost of a 5 marla house then we have a separate article for that.