It is said that when the construction industry works 40 other industries work parallel with the construction industry. To fulfill the promise of employment and houses for the people of Pakistan PM Imran Khan had started the Naya Pakistan housing program( NPHP ). To further expand this initiative of the Naya Pakistan housing program State Bank of Pakistan was directed to make a policy for the new program Naya Pakistan housing program scheme. In this scheme of the Naya Pakistan housing program, the State bank has directed all commercial banks to provide housing loans at an affordable cost.
In Naya Pakistan housing program for the first time mortgage program in launched in Pakistan with the name musharakah. In musharakah the bank and the customer become co-owners. The bank will finance the customer for the house and the bank will remain co-owner until all loan payments are paid back.
There are three tiers for Naya Pakistan housing program program.
| Tiers | Size of house Unit | Maximum price of house unit | Maximum financing | Minimum contribution from customer | Rental rate |
| Tier 1 Naya Pakistan housing and development authority ( NAPHDA ) | 5 marla 850 squre feet covered area | Rupees 3.5 Million | Rupees 2.7 Million | 10% | 5% for first five years and 7% for next 5 year. For period more than ten year 1 year Karachi interbank offer rate plus 2.5% |
| Tier 2 ( None-NAPHDA ) | 5 marla 850 squre feet covered area | Rupees 3.5 Million | Rupees 3 Million | 10% | 5% for first five years and 7% for next 5 year. For period more than ten year 1 year Karachi interbank offer rate ( KIBOR) plus 4% |
| Tier 3 ( None-NAPHDA ) | 10 marla up to 1100 square feet covered area. | Rupees 6 million | Rupees 5 million | 15% | 7% for first five years and 9% for next five years. For more than ten years . 1 year KIBOR +4% |
Financing tenure for Naya Pakistan housing program
In the Naya Pakistan housing program, people may avail of installment plans for 10 years, 15 years, and 20 years.
Eligibility criteria for Naya Pakistan housing program program
All Pakistani nationals holding valid CNIC who are applying for the first time and don’t have their own house on their name. They may avail the Naya Pakistan housing program only once per house. In the Naya Pakistan Housing program, people can buy a house or construct a house.
Installment plan for mera paksitan mera ghar
| Loan availed | Rs 1 Million | Rs 2 Million | Rs 3 Million | Rs 4 Million | Rs 5 Million |
| Monthly installments | RS 6600 | RS 13199 | Rs 19799 | Rs 31012 | Rs 38765 |
These installments mentioned above are based on the first five years on a loan for 20 years.
Documents required for Naya Pakistan housing program program
Documents of salaried person/persons
- Loan Application for with CF undertaking.
- Product disclosure sheet
- valid CNIC of the applicant and or of co-partner.
- Two passport size photos of applicant and or of a partner.
- The undertaking of a first-time homeowner.
- Title documents to be mortgaged.
- Direct debit authority.
- Proof of employment.
- Proof of income i.e. salary slip.
Documents required for self employed
- Loan Application for with CF undertaking.
- Product disclosure sheet
- valid CNIC of the applicant and or of co-partner.
- Two passport size photos of applicant and or of a partner.
- The undertaking of a first-time homeowner.
- Title documents to be mortgaged.
- Direct debit authority
- Proof of business
- Income assessment document
