Naya Pakistan Housing-Scheme Salient Features

State Bank revised features of Naya Pakistan Housing-Scheme on March 25, 2021, circular.

With the consultation of all stakeholders including commercial banks the lending institutions, the State bank announced the revised features of the Naya Pakistan Housing Program to help those individuals who don’t own their own homes.

Following are the salient features of the revised House Loan Facility under subsidized Mark Up Facility

Eligibility Criteria

  • All Men and women holding Pakistani National Identity Card are eligible to apply for house finance
  • All those who are first time going to own a house on their name are eligible to apply only
  • One Person can get benefit from This subsidized Mark scheme only once

Tiers of Subsidized Home Finance Scheme

  • Tier 0 is added in the revised house loan scheme to include Microfinance banks where customers have easy access. The amount that can be sanctioned from the microfinance scheme is up to Rs.2.0 Million.
  • Tier 1 is available from commercial banks for Naya Pakistan Housing Program Project. The applicant will have to show the allotment letter under the NPHP project to avail of subsidized house loan facilities through commercial banks.
  • Tier 2 and 3 are for all other Non-Naya Pakistan Housing Program Projects

Size of the House Units

  • Tier 0 (T0) – (a) House upto 125 sq yds (5 Marla) and (b) flat/apartment with maximum covered area of 1,250 sq ft.
  • Tier 1 (T1) – (a) House up to 125 sq yds (5 Marla) with a maximum covered area of 850 sq ft and (b) Flat/apartment with a maximum covered area of 850 sq ft.
  • Tier 2 (T2) – (a) House upto 125 sq yds (5 Marla) and (b) flat/apartment with maximum covered area of 1,250 sq ft.
  • Tier 3 (T3) – (a) House upto 250 sq yds (10 Marla) and (b) flat/apartment with maximum covered area of 2,000 sq ft.

Housing Units Age

Only a one-year-old house can be financed under this scheme but this condition will not be applicable under Tier 0, 2, and 3 has been given till 31 March 2023.

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Maximum Price Value of the Housing Units

Rs.3.5 Million for Tier 1 which comes under NPHP projects.

No Price Limit for Tier 0,2 and 3

Financing Limit for House Loan

  • Tier 0 through Microfinance Banks

Rs.2 Million (Twenty Lacs only)

  • Tier 1

Rs2.7 Million (Twenty Seven lacs only)

  • Tier 2

Rs.6 Million (Sixty lacs only)

  • Tier 3

Rs.10 Million (One Crore Only)

Tenure of House Loan

Minimum 5 years and maximum 20 years depending upon the demand and need of the customers.

Bank Security Requirement for House Finance

As per banks credit policy and prudential regulations the mortgage will be done in favor of the bank giving home finance.

Budget Allocation of Funds

State Bank is authorized to debit Govt of Pakistan’s account held with SBP on a quarterly basis for the payment of subsidy to commercial banks. banks will submit quarterly reports to SBP for their House finance cases to get the subsidy.

Mark Up Rates for House loan Under Subsidized Scheme

Program Participating Institution

All commercial banks in Pakistan, Microfinance banks and House Building finance corporation

Find more detail on the below link

SBP Subsidized House loan Facility

Application Processing

All participating financing lenders will not take more than 30 days to process the loan after the submission of the application from the borrower.

An application form will be available in both Urdu and English in a standardized form which will be simple.

These loans are available for the whole of Pakistan.

SBP will monitor all participating banks and will get reports on pending and rejected cases along with their reasons.

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