Under Prime Minister’s Apna Ghar Programme, ‘Ghar Ho To Apna,’ eligible citizens can obtain loans of up to Rs10 million from private banks through easy instalment plans.
Under the scheme, eligible applicants can receive financing of up to Rs10 million, with the maximum repayment period set at 20 years.
For a Rs4 million loan taken for 20 years, the monthly instalment would be Rs26,398. For a 15-year repayment period, the monthly instalment would be Rs31,632, while a 10-year loan would require a monthly payment of Rs42,426.
To qualify for the scheme, applicants must be Pakistani citizens holding a valid Computerised National Identity Card (CNIC). They must also not already own any residential property in their name.
The financing can be used to purchase a new house or flat, construct a house on an applicant’s own plot, or purchase a plot and construct a house on it.
Under the scheme, houses measuring up to 10 marla or 2,720 square feet, as well as flats or apartments measuring up to 1,500 square feet, are eligible.
Applicants can obtain financing of up to Rs10 million for a maximum period of 20 years. A government markup subsidy will also apply for the first 10 years.
The financing-to-value ratio has been set at 90:10, meaning the applicant will contribute 10% of the property’s value, while the remaining 90% will be financed by the bank.
The scheme provides a significant opportunity for low-income citizens and first-time homebuyers to turn their dream of owning a home into reality.
Also read: Step-by-step guide to apply for PM’s apna ghar program