Last Updated on: 4th October 2024, 12:01 am
Here’s the latest update for Punjab residents: Chief Minister Maryam Nawaz has launched a new cash distribution process for applicants to the Apna Ghar Apni Chhat scheme. From October 4, 2024, eligible applicants will receive loans through the Bank of Punjab. In the first phase, those who have enrolled in the ballot list will receive their complete loan of Rs 15 lakh.
For more information about the application process and distribution of cash, read the detailed article.
Government of Punjab Starts Cheque Distribution For ACAG
The ‘Apni Chhat Apna Ghar’ event was attended by Punjab Chief Minister Maryam Nawaz and Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif.
Under this initiative, the Punjab government has started distributing cheques to qualified families to help them build their houses. The funds will be equal to the amount applied for under the scheme.
Half A Million Applications Received for the AGAC Scheme
Launched by CM Maryam Nawaz in August, this scheme started accepting applications immediately. Since then, it has received millions of applications from deserving people across Punjab, and the government is working to help households in different phases.
During the event, Maryam Nawaz spoke about how Nawaz Sharif’s vision can become a reality by enabling needy families to build their homes. So far, this scheme has received around 500,000 applications.
Monthly E-Balloting for the AGAC Program
Maryam Nawaz announced that the government would give loans of up to Rs 1.5 million to the needy, with monthly balloting for beneficiary selection. Every year, the government will help 100,000 families build their homes through this scheme.
9-Year Interest-Free Loans of Rs 1.5 Million
This is the country’s first major interest-free housing project where applicants can get up to Rs 1.5 million, repayable over a period of nine years in installments of Rs 14,000 per month.
Housing Loans Distribution for Rural, Urban, and Major Cities
- Rural areas: Loans of up to Rs 1.5 million are available for houses up to 10 marlas, repayable in monthly installments of Rs 14,000.
- Urban areas: Loans of up to Rs 1.5 million are available for houses up to 5 marlas, which can also be repaid in installments of Rs 14,000.
- Major cities: Four-storey apartments will be built on government land, which will be allocated through lottery and repaid in easy installments.
There is also an option to purchase 3 to 5 Marla houses through private housing schemes, with a government subsidy of up to Rs 1 million per unit.
Online Application Process for Apni Chhat Apna Ghar Scheme
Applying for the Apni Chhat Apna Ghar Scheme is simple and can be done online through the Government of Punjab’s new web portal:
- Click on the given link: acag.punjab.gov.pk.
- Click on the “Sign Up” button on the top left of the page.
- Fill in the online application form with accurate information.
- Once done, click on Register to submit your information for processing.
Last Words
The Apna Ghar Apni Chhat Scheme of the Government of Punjab is a major initiative that provides interest-free loans of up to Rs 15 lakh and enables eligible families to build their homes. This scheme, with monthly e-balloting and flexible monthly installments, will make affordable housing accessible in rural, urban, and major cities.