Naya Pakistan Housing Scheme is conducting a lucky draw to shortlist 1.6 million applicants for construction loans. Chairman of the project, Rt. Lt. General Anwar Ali Hyder disclosed this on Sunday.
He also spoke about the hurdles being faced by the people in the construction sector, such as taxes, financing, and approvals. He emphasized that the government is working around these issues to ensure convenience for the common man.
Gen Anwar Ali also highlighted the amnesty scheme offered to attract investment in the construction sector.
Those who cannot reveal the sources of their money have been given an opportunity to invest until December 31.
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Speaking about the subsidy of Rs. 30 billion announced by Prime Minister Imran Khan, he said that the loan will be provided at special rates.
Loans would be given at 5% interest rate to those who build 5-marla houses and at 7% to those who build 10-marla houses.
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He said that people with lower incomes will be eligible for a loan of Rs. 300,000. Lt. General Hyder called on the private sector to take the lead in the construction of houses as this is a golden opportunity for the investors.
Note that the Naya Pakistan Housing Scheme had received over two million applications and requests, out of which only 1.6 million applicants have been finalized and moved to the second stage after going through a NADRA database check.