Relief for Home Owners as Punjab Govt approves interest-free housing loan up to Rs.10 lakh
LAHORE – After repeated reports of roofs collapsing and homes being unsafe across Punjab, the provincial government has announced a major relief initiative aimed at helping vulnerable families rebuild and repair their homes. Under the expanded Apna Chhat Apna Ghar programme, eligible homeowners will now be able to access interest-free loans of up to Rs 10 lakh for home repairs and roofing.
The decision was taken during a high-level meeting chaired by Punjab Housing Minister Bilal Yasin and attended by senior officials of Housing Department, FATA and Bank of Punjab.
Under the extension initiative, families will be able to avail interest-free loans ranging from Rs 500,000 to Rs 10 lakh for home repairs and roofing. The financing will be processed through a dedicated e-portal in a transparent and cost-effective manner.
Bilal Yasin said that the aim of this program launched by Chief Minister Maryam Nawaz Sharif is to improve the living conditions of low-income families by helping them to restore damaged and unsafe houses.
Officials revealed that 170,000 families have already benefited from interest-free loans under the scheme, while the provincial government plans to extend the facility to 100,000 more families during the next financial year.
The Apna Chhat Apna Ghar program is a flagship affordable housing initiative of the Punjab government, which aims to build 100,000 houses and apartments across the province over the next four and a half years through three implementation models.
Officials believe that the initiative will not only improve housing conditions and reduce overcrowding and informal settlements, but also create around 500,000 direct and indirect jobs, giving a significant boost to the province’s construction sector.
Residents of Punjab who meet the eligibility criteria can apply through the official online portal of the program. Successful applicants will get interest-free financing of up to Rs 10 lakh, payable in affordable monthly installments over seven years. Loan disbursements will be phased in, while payments from current beneficiaries will be used to fund future applicants, ensuring that the program remains financially sustainable.
The post Punjab government approves interest-free housing loan up to 10 lakh rupees, relief for house owners appeared first on Daily Pakistan English News.
Stay updated with the latest alerts on this story:
View Original Coverage
