Last Updated on: 21st September 2024, 04:45 pm
Maryam Nawaz, the new Chief Minister of Punjab, has given the green light to the Apna Ghar Apni Chat scheme, which will provide 100,000 housing units to eligible residents at affordable prices. The 15th Cabinet meeting made this decision, along with other significant announcements.
Important Decisions of the 15th Cabinet Meeting in Lahore
The 15th meeting of the provincial cabinet, headed by Chief Minister Maryam Nawaz Sharif, focused on several important issues. One of them was the Apni Chhat Apna Ghar initiative’s approval. Under this scheme, the government will provide 100,000 housing units to needy people to facilitate housing for many.
The Punjab Cabinet has approved three welfare schemes: the Chief Minister’s Green Tractor Scheme, the Child Heart Surgery Program, and the Apna Ghar Apni Chat.
CM Punjab to Distribute 5 Lac Houses in Five Years
CM Maryam Nawaz has outlined her vision to provide long-term solutions for low-income families and announced a five-year plan to build 5 lac houses for the residents of Punjab. The government will provide these homes in easy, interest-free installments, allowing families to own their homes without any financial burden.
For the first time in Pakistan, the provincial government approved housing loans tied to land ownership and a copy of an ID card. The provincial government has approved housing loans worth Rs 1.5 million, which residents can repay over nine years with monthly installments of Rs 14000.
Detailed information on the new eligibility requirement for the AGAC Scheme
According to reports, the Apni Chhat Apna Ghar Scheme is a revolutionary project that offers interest-free housing to deserving individuals. During the cabinet meeting, the Chief Minister shared the following information about the scheme beneficiaries:
- Rural areas: Loans of up to Rs 1.5 million for 10 marla houses with monthly installments of Rs 14,000.
- Urban areas: Loans of up to Rs 1.5 million for 5 marla houses with the same monthly payment plan.
- Metropolitan cities: Four-storey residential houses will be constructed on public land, allotment will be done through lottery, payment will be made in easy installments.
Punjab Will Provide Subsidies and Affordable Housing
The provincial government will provide a subsidy of up to Rs 1 million per house. Buyers can buy houses with a 40% down payment and monthly installments of Rs 26,000, with the remaining 60% covered by government assistance. Additionally, private housing projects will provide 3-5 marla houses, each of which is eligible.
Also Read: The AGAC Scheme Received More Than 15,000 Applications
Create Job Opportunities for Thousands of People
According to Maryam Nawaz, the Apni Chhat Apna Ghar scheme will assist families facing financial difficulties. By providing subsidies and promoting green construction, the government aims to support sustainable housing development. We expect this project to create employment opportunities for thousands of people while building houses.
With this large-scale housing initiative, the Chief Minister repeated the government’s commitment to improve living conditions and reduce the number of homeless across Punjab.