In a significant move to support homeowners in Punjab, the provincial government has approved interest-free loans of up to Rs1 million. This initiative aims to assist families in repairing and rebuilding their homes, particularly in light of recent reports of unsafe living conditions.
Details of the Initiative
The expanded Apni Chhat Apna Ghar programme was announced during a high-level meeting led by Punjab Housing Minister Bilal Yasin. The initiative allows eligible families to access interest-free loans ranging from Rs500,000 to Rs1 million for home repairs and roof construction. The financing process will be facilitated through a dedicated online portal, ensuring transparency and affordability.
Impact on Families and the Housing Sector
According to officials, approximately 170,000 families have already benefited from the scheme, with plans to extend assistance to an additional 100,000 families in the upcoming fiscal year. This flagship programme aims to improve living conditions for low-income households and is expected to create nearly 500,000 jobs in the construction sector.
Application Process and Loan Repayment
Residents of Punjab who meet the eligibility criteria can apply for these loans through the official online portal. Successful applicants will receive financing repayable over seven years through manageable monthly instalments. The programme is designed to be financially sustainable, with repayments from existing beneficiaries funding future applicants.
