Naya Pakistan Housing Scheme | Complete Details | ThePropertunity
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Naya Pakistan Housing Scheme:

According to the 2017 figures, Pakistan’s population is 207.7 million and has grown at a rate of 2.4 percent per year. The urban population is estimated to be75.5 million in the same year; hence the housing demand in Pakistan is 350,000 units per year.

According to the Association of Builders and Development authorities, Real Estate Research 2016, a housing backlog of 10 million units exists in Pakistan. In Pakistan’s big cities slums are overloaded, so the majority of people are forced to sleep on footpaths.

Affordable housing lacks in the country. Owing to this situation, the government of Pakistan has started an initiative NPHP.

Naya Pakistan Housing Scheme, more commonly known as Prime Minister Housing Scheme, is a government-run project in which five million houses would be constructed for the people hailing from lower and middle-income backgrounds.

Initially, the Chairperson of the Naya Pakistan Housing Scheme Project, Lt. Gen. Anwar Ali Hyder stated that a lucky draw would be carried for 1.6 million loan applications. He also confirmed that investors who cannot reveal their source of income could also invest in NPHP until December 31. The government also announces a 5 % and seven %mortgage on 5 and 10 marla houses in the scheme.

How to join for Naya Pakistan Housing scheme?

Naya Pakistan Housing Scheme is an opportunity for those who can’t afford houses at the current market prices. The application pattern could be downloaded from the National Database and Registration Authority’s (NADRA’s) website, and Naya Pakistan Housing Scheme APP is also available on the Play Store.

The applicants were asked to mention the family’s total gross income per month if it was in the range below:

  • Less than PKR 20,000
  • Between PKR 20,001 and PKR 40,000
  • In Between PKR 40,001 and PKR 60,000
  • Between PKR 60,001 and PKR 10,000

Eligibility Criteria for Naya Pakistan Housing Scheme

  • Only one person of a family can apply (husband/ wife)
  • 250 PKR fee to be submitted along with the enrollment form.
  • Ones with a monthly income of approx. PKR 10,000- PKR 25,000 will be favored.
  • Those who do not own any independent properties in Pakistan will be preferred.

Houses in Naya Pakistan Housing Project will be built in three categories. These are:

  • Labor class
  • Lower middle class
  • Middle class

The houses will be offered on a 10% to 25% down payment to all the above- mentioned categories.

Naya Pakistan Housing Project payment plan:

In NPHP Commercial Banks would provide home loan facilities on appropriate terms and conditions where the payment could be cleared in up to 20 years.

The applicant would pay 20% of the total amount as down payment, while the bank would provide the remaining 80% payment through the home financing option. In Naya Pakistan Housing Scheme payment plans, the owners will also have to pay an additional10% markup.

The government wants to embrace the rent equalization modal to make it an affordable housing project for the low-income group

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Impacts of Naya Pakistan Housing Scheme on the economy:

Increase in employment

Naya Pakistan Housing Scheme would help to increase the number of employed people in Pakistan. A renowned Pakistani businessman Aqeel Karim Dhedhi has said in an interview to ARY News that there are 40 to 45 industries are connected to the construction industry if the construction industry improves then the other sectors would also enhance.

It would result in an increase in employment in Pakistan. Furthermore, the per capita income of your labour class would improve too.

Improvement in the living standard of people

The NPHP would play a very vital role in the improvement of the living standard of people. The current market price of a five marla house is approx Rs 5 million which is quite challenging to pay for a person belonging to the lower or middle class of society but in NPHP it would cost just in Rs.2 million.

Moreover, the houses can also be financed through commercial banks, the interest rate on five marla houses is 5 %, and 7 % is on ten marlas. Installments are easy to pay as they are small in the number of people who are living in rental houses can quickly pay the payments and can be the owner of their own homes.

Foreign Investment

Foreign investment has a very critical role in improving the economic condition of a country. The Pakistani economy is facing a tough situation from the past few decades, and the pandemic is adding fuel to the fire.

It is expected that “Naya Pakistan Housing Project” would improve the economic identity of Pakistan in the world, and foreign investors would take an interest to invest in the economy of Pakistan. An Egyptian business tycoon, Naguib Sawiris, has shown interest to invest in 100,000 units of the housing project.


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