Property

Construction of 7,000 units completed under PM low-cost housing scheme

low cost housing scheme

The Prime Minister Low Cost Housing Scheme, launched by the ministry of housing and works, provides qualified families with financial help up to Rs 5000,000 through Akhuwat Islamic Microfinance (AIM). 

According to an official document detailing the administration’s three-year performance, the government has released monies totaling Rs 7 billion to Akhuwat till 4th June 2021. The construction of 7000 houses units was completed and the remaining are under construction. It said that poor and deserving families would get financial help as per Shariah compliant product. 

Read more: PM Imran breaks ground for 4,000 low-cost housing units

Moreover, the federal cabinet had also approved the summary of the ministry regarding urban regeneration of Pakistan quarters and Jamshaid quarters Karachi on June 15 2021. The ministry in collaboration with Naya Pakistan Housing Authority under this project, will transform katchi abadis into developed areas through high rise vertical developments consisting of approximately 6,000 apartments and commercial areas.  

The documents further said that Federal Government Employees Housing Authority (FGEHA) had planned/allotted 32,304 units (20,852 plots and 11,352 apartments, 100 houses) to its members in Islamabad/Rawalpindi, Lahore, AJK, Peshawar and Karachi. 

In the initiatives, the FGEHA restarted stalled schemes of 11,352 plots at Green Enclave-I Bara Kahu, Sky Garden (Green Enclave-II) and F-14/F-15 Islamabad. 

Low-cost housing scheme through Akhuwat Islamic Microfinance

The authority initiated new apartment’s schemes consisting of 10,102 units at Kashmir Avenue, G-13, Skyline, Apartments, Islamabad, Chaklala Heights, Rawalpindi and Lifestyle Residency, Lahore. Similarly, it initiated housing schemes of 850 units with governments of Azad Jammu and Kashmir (AJ&K) and Khyber Pakhtunkhwa. 

Similarly, Pakistan Housing Authority Foundation (PHAF) had planned/initiated/allotted 17,506 units / flats/shops project. Out of 1350 housing units/flats at Kuchlak Road Project, Quetta, completed booking of 714 housing units while booking of 636 apartments is in progress. 

Nearly 1250 housing units are booked in Peshawar Sarozai Project consisting of a total 10,000 housing units. The authority allotted 588 grey structures at PHA Residencia Project Kurri Road and conducted an auction for sale of 88 shops in Block A & B.  

It also completed booking of 2780 apartments in I-12/1 and 1484 apartments in I-16/3. The PHAF further launched a membership drive for the GB housing project comprising 1216 apartments at Minawar.

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