Naya Pakistan Housing Society: The Insider of Subsidy
Naya Pakistan Housing Society is the initiative of the Government of Pakistan (GoP). The main is to provide shelter for the low-income strata of the society. Recently, GoP has announced PKR 30 Billion housing subsidy for Naya Pakistan Housing Society. This subsidy will be given to 100,000 houses (One Time). It would be considered as a down payment of the mortgage.
Mark-up Subsidy
Mark-up ease has also been announced in the form of mark-up subsidy. As per the latest news, the mark-up subsidy will work as mentioned below:
- 5% mark up for 5 Marla Houses
- 7% markup for 7 Marla Houses
The government themselves will subsidize the variance between this market rate & 5-7 % concessionary rate, announced for this scheme.
Read Also: Blue World City Donated 5000 Houses to Naya Pakistan Housing Society
In light of the above-mentioned mark-up subsidy, the additional burden of almost PKR 6 Billion to 9 Billion will fall on the government. The amount may fluctuate depending upon the total tenor of the loan. Moreover, this estimated burden calculated for initial 100,000 houses, not 5 million. An immediate help might be needed from the World Bank in order to keep this project on track.
Critics on Subsidy Policy
The critics of this project said that there is a huge lack of adequate research that supports the suppositions made for this project. They believe that there is a major black hole on the information. There is no satisfactory survey or investigation regarding the housing stock and house shortage. Also, the announced mortgage policy designed ignoring the metrics of affordability for the common man. Keeping in view of the cost of land, there was a need for vertical development instead of horizontal sprawl.
News Source: Nation
You May also Like this
Skyscrapers on GT Road permitted by RDA Rawalpindi Development Authority (RDA) allowed...
, and applied for direct access from Motorway M2, according to National...
RDA Operation against 5 Illegal Housing Societies Rawalpindi Development Authority (RDA) launched...
Bahria Town Peshawar Sales & Marketing Office Launched in an auspicious event...
Monal Restaurant Islamabad, located in Margalla Hills, actually built on land that...
Emaar Canyon Views announced new date to submit application for commercial plots....
Capital Development Authority (CDA) directed by Islamabad Chamber of Commerce and Industry...
Capital Development Authority (CDA) decided to start balloting for Islamabad Sector C-14....
Capital Smart City Islamabad in collaboration with Freij Entertainment signed an agreement....
officially launched in a ceremony held at Serena Hotel, Islamabad. Several individuals...
Naya Pakistan Housing Programme (NPHP) last date is October 15. The process...
Pakistan decided to take measures against the black money or money laundering...
has recently announced its policy for Platinum Balloting. It has urged individuals...
(CDA) decided to restart the development work on stalled Kuri Model Village....
has successfully retrieved almost 15 thousand Kanal of land from illegal occupants....
(RDA) has decided to initiate the construction of commercial skyscraper at Murree...
(CDA) revealed several edifices used as an apartment complex have not acquired...
(FBR) has issued warning notices to garment outlets & boutiques. Federal institution...
(CDA) reconstructed the sector I-14’s main double road. This work is done...
The (PHA) is all set to launch Burj Khalifa-styled Hologram Advertisement in...
(RCB) affirmed to destroy all buildings that are being constructed without any...
(RDA) invited bids to finalize the process of selecting consultancy firms. It...
(PHA) asked government of Punjab to establish underground electricity provision system in...
The Bhara Kahu Flyover construction will be started within coming 6 months....
For the collection of Capital Value Tax (CVT), revenue department of Islamabad...
(RCB) gears up to start operations against healthcare units now. All the...
Over 500 tenants of Islamabad rushed to various to register themselves. Concerned...
of Pakistan seeks report from Capital Development Authority (CDA and MunicipalC Corporation...
(CDA) started dissembling ramshackle Burma Bridge. However, the final approval for the...
(CDA) proposed 12 and 7 locations in urban and rural area respectively....
Naya Pakistan Housing Program (NPHP ) is moving one step forward towards...
(CDA), on directives of Prime Minister Imran Khan, forwarded list of new...
Naya Pakistan Housing Project () opened online registration portal for convenient registration....
(RDA) finally came into action against all the unapproved & illegal housing...
(RCB) issued notices to 20 building owners. These notifications address the violation...
FBR (FBR) is an attached department on Ministry of Finance, Pakistan. This...
FBR (FBR) is an attached department on Ministry of Finance, Pakistan. This...
(CDA) began reconstruction work on Burma Bridge. It is present alongside Lehtrar...
Rawalpindi Murree Road is going to become a signal-free route. This decision...
(RDA) all set to update the master plan for City, Rawalpindi. Provincial...
(CDA) asked by Builders & Developers Association (BDA) to seize the anti-encroachment...
Federal Commission has rejected the ’s (CDA) proposal to build more than...
Executive Committee of National Economic Council (ECNEC) grants approval for land acquisition...
(CDA) finalized the bidding process for construction of Burma Bridge. 6 companies...
Un Approved / Under Process Housing Societies in RDA Rawalpindi Development Authority...
Naya Pakistan Housing Project (NPHP) registration process has started nationwide. This program...
Rawalpindi Development Authority () decided to make an inspection team to scrutinize...
Capital Development Authority () recently approved new rules & regulations regarding the...
Federal Government of Pakistan has decided to build Naya Pakistan Economic Zone...
(NAB) has disseminated cheques worth more than Rs.200 million to the...
(RDA) affirmed 14 residential projects unlawful as per resources. Under Punjab Private...
(FBR) has extended Tax amnesty scheme till August the 2nd. People can...
An immense rise in selling & purchasing of property is witnessed in...
Rawalpindi Development Authority (RDA) has cancelled the Initial Planning permission (IPP) of...
The (FBR) planned to revise the valuation rate of immovable property that...
Capital Development Authority () issued warning notices to various hotels & motels...
Capital Development Authority () has decided the suspension of its sanitary staff....
Capital Development Authority (CDA), in wake of latest developments, has declared 8...
Capital Smart City DHA Merger In light of recent notification, Capital Smart...