Applicants to Pay 20 percent as Down Payment in Advance – Naya Pakistan Housing Programme (NPHP)
NPHP News Updates: Government of Pakistan has announced yesterday that in Naya Pakistan Housing Program (NPHP) applicants will have to pay 20% of the total cost of their new house as down payment.
This was told by the task force constituted on the 50 lac 5 million house project. It was also informed to the the press that remaining amount of 80% will be paid by Government through bank loan.
Who Addressed the Press Conference?
The central leaders of Pakistan Tehreek-i-Insaf (PTI) Syed Firdous Shamim Naqvi, Task Force on Housing chairman Zaigham Rizvi and Punjab Minister for Housing, Urban Development and Public Health Engineering Mian Mehmood ur Rasheed.
Shamim Naqvi Explained:- If the cost of the lowest category house or apartment is Rs.3 million, then the applicant will have to pay Rs. 600000 as down payment.
Punjab Cities Included in 1st Phase
Mian Mehmood-ur-Rasheed also told that in the first phase in Punjab, the project would be implemented in following distrcits:-
The Housing project will also started in Muzaffaraabad Azad Jammu and Kashmir in first phase.
Housing Project Inauguration by Imran Khan (PM)
Prime Minister of Pakistan Mr. Imran Ahamd Khan Niazi will inaugurate the first phase of the mega housing program on January 1st, 2019.