Punjab Chief Minister Maryam Nawaz Sharif, along with former Prime Minister Nawaz Sharif, distributed loan cheques to the winners of the first balloting under the Apni Chhat Apna Ghar scheme. This initiative aims to provide interest-free loans for house construction to people across Punjab. Launched in August 2024, the scheme has already seen widespread interest, with the first balloting held in September.
| Loan Scheme | Beneficiaries | Loan Amount | Duration |
| Apni Chhat Apna Ghar | 70,000 people | Rs 1.5 million | 9 years |
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Large Participation in the Housing Scheme
During the event, the Chief Minister highlighted that the Punjab government received around 500,000 applications for this interest-free loan scheme. The Apni Chhat Apna Ghar scheme is expected to help build 500,000 homes over the next five years. This will assist both urban and rural populations, with each district receiving loans according to its population size.
Key Details of the Scheme
- Up to 1.5 million rupees in loans
- A repayment period of 9 years
- Monthly installments reduced to Rs 14,000
- A monthly draw to select new beneficiaries
Housing Loans for Urban and Rural Areas
Under this scheme, people owning 1 to 5 marlas of land in urban areas and 1 to 10 marlas in rural areas will be eligible for balloting. The government aims to provide loans to 100,000 individuals every month to help them build their homes without any interest. This initiative is part of a larger vision to support low-income families and provide them with affordable housing options.
Vision Behind the Housing Loan Scheme
According to the Chief Minister, the Apni Chhat Apna Ghar scheme is part of a larger vision by former Prime Minister Nawaz Sharif to address the housing crisis in Punjab. The program, valued at Rs 700 billion over five years, will make home ownership possible for many people who previously could not afford it. By offering interest-free loans and reasonable installment plans, the government hopes to ease the financial burden on families across the province.
Future Plans and Monthly Draws
The Chief Minister announced that monthly draws will continue to be held to select beneficiaries for the loans. This will allow a consistent flow of new applicants receiving financial support to build their homes. The program will also focus on ensuring that each district gets a fair share of loans based on its population.
Conclusion
The Apni Chhat Apna Ghar scheme is a significant step toward improving housing conditions in Punjab. With interest-free loans and reduced installment plans, the initiative provides a unique opportunity for families to build their own homes. The government’s commitment to holding monthly draws ensures that more people will benefit from the program over time, contributing to the broader goal of addressing the housing shortage in the province.
Also Read: Punjab CM Visits Bank of Punjab Sets Target to Lead Rankings
FAQs
Who can apply for the Apni Chhat Apna Ghar scheme Now?
Anyone owning 1 to 5 marlas of land in urban areas or 1 to 10 marlas in rural areas can apply for the housing loan scheme.
What is the repayment plan for the loan Now?
The loan can be repaid over 9 years with monthly installments of Rs 14,000.
How often will new beneficiaries be selected Now?
A draw will be held every month to select new beneficiaries for the interest-free loans.