Mera Pakistan Mera Ghar Registration 2023 | Naya Pakistan Housing Scheme

Mera Pakistan Mera Ghar, which is also known as Naya Pakistan Housing Scheme, is a government program that aims to provide low-income people with inexpensive accommodation. The plan is one of the most important projects announced as part of the Prime Minister’s Housing Initiative.

Pakistan has a population of about 200 million people, with a large proportion of them living in slums and informal settlements. The shortage of affordable housing in the country has long been a problem, and the Mera Ghar Mera Pakistan initiative tries to remedy this by offering low-cost housing alternatives to those in most need.

Mera Pakistan Mera Ghar is a public-private cooperation involving the federal and provincial governments, as well as commercial developers. The government offers a subsidy to developers that build low-cost housing units, which are subsequently sold at a cheap rate to low-income families.

Imran Khan, the Former Prime Minister of Pakistan, has been a strong advocate for the Mera Pakistan Mera Ghar program since its inception. In fact, the program was one of the key campaign promises of his political party, the Pakistan Tehreek-e-Insaf (PTI), during the 2018 general elections.

During a speech at the launch of the Mera Pakistan Mera Ghar program in April 2021, Imran Khan emphasized the importance of homeownership and the need to provide affordable housing for low-income families in Pakistan. He stated that the program is a key part of his government’s efforts to create a more equitable society, where all citizens have access to basic amenities like housing, healthcare, and education.

Families must have a combined monthly income of less than PKR 50,000 to be eligible for the plan. The dwelling units come in a variety of sizes ranging from 3 to 5 marla (a marla is a unit of land measurement in Pakistan, equivalent to approximately 272.25 square feet). Depending on the buyer’s wishes, the project provides both apartment-style flats and separate residences.

Mera Pakistan Mera Ghar is a public-private cooperation involving the federal and provincial governments, as well as commercial developers. The government offers a subsidy to developers that build low-cost housing units, which are subsequently sold at a cheap rate to low-income families.

Eligibility Criteria of Naya Pakistan Housing Scheme

The following are the eligibility requirements for the Mera Pakistan Mera Ghar scheme:

1. Pakistani citizens over the age of 18
2. Individuals with a monthly income of less than PKR 50,000
3. First-time homebuyers
4. Individuals who do not own any property in Pakistan or abroad

Those interested in applying for the Mera Pakistan Mera Ghar scheme must first register online at the program’s official website. They may then request financing through a partner bank or the government’s financing plan once they have registered.

The scheme’s loans often cover up to 100% of the purchase price of the house, including registration and transfer expenses. The loan interest rate is set at 5% per year, which is much lower than the market rate for house loans in Pakistan.

How to Apply for Mera Ghar Mera Pakistan Housing Scheme

How to apply
The Mera Pakistan Mera Ghar application procedure is intended to be quick and simple.

1. Visit the program’s official website: The first step in the application procedure is to go to www.naya.gov.pk, which is the program’s official website. You may discover complete information about the program, including eligibility requirements, loan conditions, and application procedures, on this page.
2. Register online: After reviewing the program’s eligibility requirements and loan conditions, you must register online via the program’s website. To do so, you must enter basic personal information such as your name, address, and national identity card number.
3. Register for financing: After completing the online registration procedure, you can apply for financing through one of the program’s partner banks or the government’s financing plan. The list of partner banks may be seen on the program’s website.
4. Submit required papers: To complete your application, you must provide all required documents and information, including proof of income, a national identity card, and other important documents. Depending on the bank or financing scheme you pick, the particular paperwork necessary may differ.
5. Wait for approval: Once you have filed your application and given all required documentation, you must wait for the approval. The approval procedure may take several weeks, during which time you may be requested to attend an interview or give more information.
6. Buy a home: If your loan is granted, you can utilize the cash to buy a property. Loans from the program often pay up to 100% of the cost of the home, including registration and transfer fees.

Banks offering loans under the Mera Pakistan Mera Ghar Program

Numerous Pakistani banks are lending money to the Mera Pakistan Mera Ghar initiative. Several banks have joined together with the government to provide financing alternatives for low-income households interested in purchasing a property under the plan. The following banks are offering loans under the Mera Pakistan Mera Ghar scheme:

1. National Bank of Pakistan
2. Habib Bank Limited
3. United Bank Limited
4. Meezan Bank Limited
5. Bank Alfalah Limited
6. Askari Bank Limited
7. Faysal Bank Limited
8. Bank Islami Pakistan Limited
9. Dubai Islamic Bank Pakistan Limited
10. MCB Bank Limited
11. Standard Chartered Bank Pakistan Limited
12. Soneri Bank Limited
13. Zarai Taraqiati Bank Limited
14. Punjab Provincial Cooperative Bank Limited

The minimum and maximum payback terms for loans under the Mera Pakistan Mera Ghar plan vary per bank, however, repayment terms are commonly up to 20 years.

There is also an installment calculator by the help of which you can calculate your installments depending on the Project type, bank type, and the number of years. Go to this link to calculate the installments: https://www.sbp.org.pk/MPMG/index.html

Going to this link you will be redirected to the website. By scrolling down you’ll find an Installment Calculator like this shown below.

Here are a few additional points that you may find helpful:

1. Property types: The program applies to both new and existing properties, such as apartments, flats, and homes. The property must, however, be located in one of the selected urban zones, which are listed on the program’s website.
2. Women’s Subsidy: The policy also includes a specific subsidy for women, which provides an additional 10% off the cost of the home. This incentive is intended to encourage women’s house ownership in Pakistan.
3. Transparency: The Mera Pakistan Mera Ghar scheme is intended to be transparent, with all program information, including eligibility requirements, loan conditions, and application procedures, available on the program’s website. The website also contains a loan calculator that may be used to estimate the cost of the loan and monthly payments.
4. Government-backed: The Mera Pakistan Mera Ghar plan is a government-backed initiative, which implies that the Pakistani government supports it. Those who are afraid to take out a loan from a commercial bank may benefit from this additional protection and assurance.
5. Repayment plan: The loan repayment plan is designed to be inexpensive and flexible for low-income households. The monthly installments are set at a specific proportion of the borrower’s monthly income, making loan repayments reasonable and affordable.

There are other Financial Schemes by the government that you can check below:

Benazir Income Support Program | BISP registration check by CNIC

Prime Minister Youth Loan Scheme (Business & Agricultural) | Eligibility Criteria & How to Apply.