Peshawar: The Khyber Pakhtunkhwa (KP) Government has unveiled a transformative housing initiative aimed at tackling the region’s housing challenges, according to a report on September 6.
In a significant move, the provincial government has approved a comprehensive low-cost housing scheme to aid underprivileged residents. This ambitious project, starting with an initial investment of PKR 4 billion, is set to provide affordable housing solutions. The scheme will offer interest-free loans of up to PKR 1.5 million to individuals who own 5 marlas of land but face financial constraints in constructing their homes.
The Housing Department has already initiated the necessary steps to bring this project to life, ensuring that eligible residents will have access to these crucial construction loans. The repayment structure is designed to be user-friendly, with loans to be repaid in manageable installments over a 10-year period.
This initiative is expected to make a significant impact by enhancing living conditions and promoting fair access to housing opportunities for residents who struggle to finance home construction despite owning land.
Read: Punjab Government Plans New Property Tax for Homes Over 5 Marlas
