📌 Key Highlights & Quick Takeaways:
- For the loan, the flat or plot must be located in an approved building or society and must meet the government conditions.
- To bridge this gap, the government has launched the Prime Minister's "Apna Ghar" programme, under which first-time home buyers get a loan of.
- Government does not give loan on every property. For the loan, the flat or plot must be located in an approved building or society and must.
For the loan, the flat or plot must be located in an approved building or society and must meet the government conditions.
To bridge this gap, the government has launched the Prime Minister's "Apna Ghar" programme, under which first-time home buyers get a loan of up to Rs 1 crore. For the first ten years, a fixed rate of interest of five percent would be applicable.
Government does not give loan on every property. For the loan, the flat or plot must be located in an approved building or society and must meet the government conditions.
Approval of buildings and societies has always been a question mark. The authorities from time to time issue lists of societies which do not have NOC (No Objection Certificate) but still these societies continue to be formed and their plots are sold. The question is how plots or apartments are sold without NOC? There is no clear answer.
Chairman of Association of Builders and Developers of Pakistan (ABAD) Muhammad Hasan Bakshi termed this scheme as a good initiative, through which the poor can also become home owners, but according to him, there is a shortage of loan eligible houses.
