GOVERNMENT ALLOCATES RS33 BILLION FOR AFFORDABLE HOUSING UNITS
Owing to the vision of providing affordable housing units to people, State Bank, as an executing partner with the Government of Pakistan and Naya Pakistan Housing and Development Authority (NAPHDA) has announced a mark-up subsidy package for those who are first-time house buyers. Through this facility, they will be able to construct or buy houses at a subsidized rate, read a statement by SBP.
The government has allocated Rs33billion as a subsidy for 10 years and has assured continuity of the facility. There are three basic categories for Markup subsidy financing to be utilized by individuals according to their needs and affordability structure. All the three categories allow purchasing a house/flat/apartment up to 5 Marla or 125 sq. yards with a maximum covered area of 850 sq. feet.