Punjab announces Rs1 million interest-free home repair loans

Punjab govt announces interest-free home repair loans of up to Rs1 milli

The Punjab government has approved a new initiative under the “Apni Chhat Apna Ghar” programme to provide interest-free loans ranging from Rs500,000 to Rs1 million for the repair and rehabilitation of damaged houses. The scheme is aimed at helping low-income families improve unsafe living conditions through a transparent financing system.

The decision was taken during a meeting chaired by Punjab Minister for Housing Bilal Yaseen. The meeting was attended by the President of the Bank of Punjab, the Secretary Housing, and the Director General of PHATA.

Speaking at the meeting, Bilal Yaseen said eligible families will be able to apply for interest-free loans between Rs500,000 and Rs1 million through an e-portal. The funds will be used for house repairs or roof construction under a transparent and low-cost mechanism.

The minister said the initiative, launched under the direction of Punjab Chief Minister Maryam Nawaz Sharif, is aimed at improving the living conditions of low-income families by helping them repair unsafe and deteriorating houses.

Officials informed the meeting that 170,000 families have already received interest-free loans under the Apni Chhat Apna Ghar programme. They added that the provincial government plans to extend this facility to another 100,000 families in the next fiscal year.

The programme, Apni Chhat Apna Ghar, is the Punjab government’s flagship housing initiative designed to provide affordable housing to low-income residents across the province. The programme plans to construct 100,000 affordable houses and apartments over four and a half years through three execution models.

Officials said the housing initiative is expected to improve housing conditions, reduce overcrowding and informal settlements, expand access to basic amenities, strengthen community development, and generate around 500,000 direct and indirect employment opportunities through large-scale housing construction.

Eligibility and Loan Details

To qualify for the scheme, an applicant must be a resident of Punjab. Eligible individuals can apply online through the programme’s official e-portal.

The scheme provides interest-free loans of up to Rs1 million with a repayment period of seven years through easy monthly instalments. The loan amount will be disbursed in different phases (tranches).

Officials said the revolving fund will remain sustainable as repayments from beneficiaries will be used to finance new loans. The Punjab government will bear the programme’s operational costs and applicable sales tax, ensuring beneficiaries receive financing without any interest charges.

(SOURCE:ARYNEWS)