Apni Chhat Apna Ghar | Interest-Free Loans And New Houses
Apni Chhat Apni Ghar Scheme
The revolutionary scheme “Apni Chhat Apna Ghar” launched by the Punjab government for the low-income group has now entered a new phase. Launched under the vision of Punjab Chief Minister Maryam Nawaz, the scheme has now not only been accelerated with the partnership of Bank of Punjab (BOP) but is now making the dream of a house a reality for millions of deserving families.
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Partnership with Bank of Punjab
A formal Memorandum of Understanding (MoU) has been signed between the Punjab Housing Department and Bank of Punjab, with the aim of making interest-free home loans to deserving families easier and faster. The signing ceremony of this agreement was attended by Punjab Minister for Housing Bilal Yasin, Bank President Zafar Masood, and other senior officials. The agreement has laid the foundation for a major change in the housing landscape of Punjab.
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Special Financing Support for FY 2025-26
Bank of Punjab will now serve as the special financing partner for the fiscal year 2025-26 under the “Apni Chhat Apna Ghar” scheme. The following facilities will be provided under this partnership:
- Quick approval of interest-free home loans
- Easy and less documentation-based application process
- Increased financing for eligible individuals
All this is being done to ensure that families who aspire to build or buy their own homes do not face financial hurdles.
Loans worth Rs 60 billion, over 52,000 beneficiaries
So far, interest-free loans worth Rs 60 billion have been disbursed by the Punjab government, which have benefited over 52,000 eligible individuals. The repayment rate of loans is also encouraging, as installments of about Rs 900 million are being received regularly every month. Another Rs 10 billion will be released soon to expand the reach of the program to more cities and individuals.
Target of 100,000 houses and 500,000 jobs
The revolutionary project aims to build 100,000 houses in Punjab in the next four and a half years. Rapid progress is being made towards this goal:
- 51,000 families have already become homeowners
- More than 45,000 houses are currently under construction
This scheme is not just a housing project but also a means of economic development. The construction of 100,000 houses will result in the creation of 500,000 jobs, which will not only provide housing to people but also provide new sources of income.
Types of Housing
The “Apni Chhat Apna Ghar” scheme includes different types of housing projects so that everyone can benefit according to their needs and capabilities:
- Construction of houses on government land
- Affordable housing in private schemes
- Interest-free loans for those with small plots
All these initiatives indicate that the Punjab government’s aim is not just to build houses but to provide a dignified, safe, and independent life.
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Conclusion
This scheme, launched under the leadership of Chief Minister Maryam Nawaz, is not just a housing scheme but a complete social revolution. Through this scheme, all those who were forced to live in rented houses for decades are now becoming owners of their own homes. This initiative restores the self-respect of these families, and moves them towards a dignified life.
FAQs – Frequently Asked Questions
Q: What is the “Apni Chhat Apna Ghar” scheme?
A: This is a government scheme under which low-income families are helped to build their own homes by providing interest-free home loans.
Q: What are the conditions to benefit from this scheme?
A: The applicant must be a low-income beneficiary. Complete conditions are provided by the Punjab Housing Department.
Q: What is the role of Bank of Punjab?
A: Bank of Punjab is the financial partner of this scheme which provides quick approval of interest-free loans, easy documentation, and further financing facilities.
Q: How many houses have been constructed under the scheme so far?
A: So far, more than 51,000 families have become homeowners while another 45,000 houses are under construction.
Q: How will this scheme create job opportunities?
A: The process of building houses is likely to create 500,000 jobs directly and indirectly in various sectors.
