Naya Pakistan Housing Scheme to start Construction in three cities in February

Naya Pakistan Housing Scheme is gaining momentum and the project is expanding beyond cities at a fast pace to ensure that the criteria of the project is met sooner than before. In the light of latest developments, NPHS is going to commence construction in three cities of Punjab including Chishtian, Renala Khurd and Lodhran from February. The Ministry of Housing is reported to have stated,

“The work on the housing project in the three cities will begin in February and then it will be extended to other towns and cities.” 

Possession of these houses will be granted within 18 months of construction. The allottees will have to pay 20% of the total cost as advance payment. The cost of a 3 Marla house falls within the price bracket of PKR 1.65-1.75 million and the cost of a 5 Marla house is expected to fall between PKR 2.1 and 2.3 million.

The homes in Lahore will be constructed in the third phase of the project and likely to be more expensive compared to other cities. The price of 3 Marla house is expected to cost between PKR 2.5 and 2.8 million. The cost of a 5 Marla house will range between PKR 4.5 and 5 million.

As for the houses in Faisalabad and Sialkot the prices comprise of a 3 Marla house may cost PKR 2 million and a 5 Marla house may range between PKR 2.5 and 2.6 million.

Naya Pakistan Housing Scheme that aims to provide 5 million low-cost houses in different main and suburb cities of Pakistan to overcome the trauma of homelessness and deficiency of a decent shelter for the poor is proceeding at an alarming speed now. NPHS has attracted a volume of foreign investors a well and last week All Pakistan Contractor’s Association has even offered to build 50,000 houses in Lahore, Karachi, and Faisalabad. The Chairman of PCA also disclosed that the finances will all be handled by them if the Government provides them with the land.

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