Imran Khan before elections has strongly emphasized that when he will be in power his government will provide low housing societies to the people. Now finally State Bank has announced a subsidized markup rate for the providing of affordable housing loans for Mera Pakistan Mera Ghar Scheme Forms under the Naya Pakistan Housing Development.
Mera Pakistan Mera Ghar Scheme
All commercial banks along with the Government of Pakistan and with the support of the State Bank of Pakistan are offering an inexpensive and low markup Housing Finance Scheme, you can buy your dream house with the help of this scheme to get rid of heavy monthly home rent.
Naya Pakistan Housing Scheme Details
The Government of Pakistan is providing a markup subsidy for the first five years. The bank charged a fixed 5% markup in its first five years and 7% in the next five years. The Bank will charge interest rates on the basis of the Kibor rate if the loan maturity extending 10 to 20 years.
To be noted that this scheme will allow just those people, who are building or purchasing a new home for the first time.
Mere Pakistan Mera Ghara scheme will also provide the administrative support of the State Bank of Pakistan as an executing partner with the NAPHDA (Naya Pakistan Housing and Development Authority) and Government of Pakistan.
Three-Tiers of Mera Pakistan Mera Ghar Scheme
Individuals can get housing loans under three-tier with its maximum amount limit. Anybody can get their desired amount of loans for the buying of houses/flats/apartments.
This scheme is available on banking types of Conventional and Islamic Bank.
Housing Finance Scheme Short overview:
All men and women are holding CNIC can avail of this scheme. You can have a subsidized facility just once and one unit per household. You should have a minimum of five years of business or permanent employment experience.
If you are a salaried or business person you should have a minimum of 25,000/- per month monthly income. Your age should not extend 60years at the time of loan maturity. The minimum age should be 25 years.
- Tier 1 NAPHDA Projects (T1)
- Tier 2 Non-NAPHDA Projects (T2)
- Tier 3 Non-NAPHDA Projects (T3)
Mera Pakistan Mera Ghar Scheme Tiers Details
The Tier 1 NAPHDA Projects (T1) and Tier 2 Non-NAPHDA Projects (T2) will provide loans for up to 5 marlas (125 square yards) with a covered area of 850 square feet. Maximum 3.5 million (thirty-five lacs) loan amounts will be provided to T1 and T2 tier category individuals.
Tier 3 Non-NAPHDA Projects (T2) will provide loans for up to 10 marlas (more than 125 square yards and up to 250 square yards) with more than 850 square feet covered area. Maximum 6 million (Sixty lacs) loan amount will be provided to the T3 tier category individual.
Markup Rates of Mera Pakistan Mera Ghar Scheme
You will have to contribute a minimum of 10% of property value for T1 and T2, 15% for T3. The Tier 3 category markup rate is 7% in its first five years and 9% in the next five years
Mera Pakistan Mera Ghar Scheme Forms
You can download Mera Pakistan Mera Ghar Scheme Loan Forms from your desired Bank branch or on their websites. Some of the bank links are listed below.
- Meezan Bank – Mera Pakistan Mera Ghar
- Bank AL Habib – Mera Pakistan Mera Ghar
- United Bank Limited (UBL) Mera Pakistan Mera Ghar
- Bank Al Falah – Mera Pakistan Mera Ghar
- Standard Chartered – Mera Pakistan Mera Ghar
- Bank Islami – Mera Pakistan Mera Ghar
- Askari Bank – Mera Pakistan Mera Ghar
- Bank of Khyber Pakistan Mera Ghar
- Bank of Punjab – Mera Pakistan Mera Ghar
You will see the latest updates of the Mera Pakistan Mera Ghar Housing Finance Scheme on our website Gharana Property category.
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