Naya Pakistan Housing Scheme Karachi Detail| ABAD projects
The Sindh Building Control Authority has authorized the Association of Builders & Developers ABAD
to construct 19 projects under the Naya Pakistan Housing Scheme. Earlier ABAD applied for the approval of over 250 housing projects.
The approvals have been fulfilled and get registered by the Naya Pakistan Housing and Development Authority. ABAD chairperson Fayyaz Ilyas told the media.
ABAD chairman told that it has completed documentation of about 300 projects.
The chairperson told reasons why there for a delay in the approval process.
There was the slow pace of the single-window facility launched by the SBCA earlier. The facility is functioning properly. The approval process takes 90 days instead of 45 days.
The land-owing agents often take a long time to verify the land status.
ABAD is working with the Naya Pakistan Housing Authority. It is PM Imran Khan’s vision of providing low-cost housing to people into a reality. The builders are agreed to work with the government when the federal government gave the construction industry a stimulus package. There will be tax waivers and no investigation into the construction industry investment.
Construction in Karachi| Sindh
The federal government is providing land for the construction of low-cost housing schemes. Houses will also be built on private land of some builders under Naya Pakistan house financing.
Here are suggested five areas in Karachi where Naya Pakistan housing projects will be constructed:
- Super Highway,
- National Highway,
- Northern Bypass,
- Surjani Town,
- Near Hawksbay
What do Naya Pakistan schemes offer in Karachi| Sindh?
The federal government has initiated to provide a 650 square feet residential unit for Rs3,000,000 in the first place. The most expensive units will cost up to Rs6,000,000 only.
The applicants will have to pay Rs300,000 as an upfront amount and private banks will be providing them a loan of Rs24,00,000. The federal government will also give them monetary assistance of Rs300,000 on each unit.
The applicants will repay a monthly installment as per the schedule given by the banks. The monthly-installment slabs range between Rs10,000 to Rs18,000 for the first five years.
Naya Pakistan Housing Scheme
The Naya Pakistan Housing Scheme was launched by PM Imran Khan. It aims to build five million homes in five years.
The federal cabinet approved an ordinance in April under which the Naya Pakistan Housing and Development Authority NPHDA was formed to manage the development of these housing schemes.
In October, the Sindh Building Control Authority formed two cells. One Window Cell-I and Cell-II, to facilitate construction permits to Naya Pakistan Housing Scheme projects in Karachi within 30 days.
Cell-I grants will permit for public sale projects (Category-IV) above 400 square yards. It will approve, price, ss, and issue architectural plans, structural design, final construction permits for public sale projects in Karachi.
Cell-II is granting permits on a faster track for buildings falling in Category I (up to 399 squaryardsrd).
