Mera Ghar Mera Pakistan
One of the prime dreams for many citizens, the Government of Pakistan has come up with Mera Ghar Mera Pakistan Scheme so they can easily achieve owning a home.
- The scheme is appropriately oriented toward providing easy, affordable housing to families. This article will provide information about scheme details and eligibility criteria, application methods, potential benefits along with new updated information and FAQs.
- Mera Ghar Mera Pakistan was an effort to provide the call for adequate housing and to boost activity through the building sector. Housing units will also be provided through the government in the coming years.
Support from the Government and State Bank of Pakistan
Achieving this end, the Government of Pakistan and the State Bank of Pakistan have undertaken several initiatives to promote financing for the housing and construction sector since July 2020. The Government implemented a scheme, also referred to as the Mera Pakistan Mera Ghar Markup Installment Scheme, during October 2020. Under this scheme, cheap instalment financing at low interest rates would be allowed to the lower income groups for the development and acquisition of houses.
Read More: AGAC Program Applicants Update for 4th October
Eligibility Criteria for Mera Ghar Mera Pakistan
- To be eligible for Mera Ghar Mera Pakistan Housing Scheme, the candidate must have a CNIC and must be a Pakistani citizen applying through it.
- This program is for first time home buyers. If an applicant’s spouse owns the home, they will not qualify.
- The government will determine the installment interest rate of the applicant in accordance with his income.
- The applicants should then demonstrate continuous sources of income and also have the boldness to pay back the loan.
Table: Quick Information
| Feature | Details |
| Scheme Name | Mera Ghar Mera Pakistan Scheme |
| Launch Year | 2020 |
| Objective | Provide affordable housing for low- and middle-income citizens Pakistan |
| Eligibility | Pakistani citizens, first-time homebuyers, with a verified source of income |
| Loan Type | Low-cost housing loans with subsidized markup rates |
| Loan Amount | Up to PKR 5 million |
| Loan Tenure | 10 to 20 years |
| Application Process | Apply through banks (e.g., NBP, Bank of Punjab, etc.) with required documents |
| Required Documents | CNIC, proof of income, property documents, and bank application form |
| Application Phases | Multiple phases starting from March 2020 (ongoing) |
| Partner Banks | National Bank of Pakistan (NBP), Bank of Punjab (BOP), House Building Finance Corporation (HBFC) |
| Application Deadline | December 2024 |
Loan Details for Mera Ghar Mera Pakistan Scheme
Loan Amount
- The scheme allows loans for three main purposes:
- For buying a ready-to-move-in house.
- For building a new house on your own plot.
- For renovation or extension of an existing house.
Interest Rate
- Low-Income Group (Interest rate: 3% to 5% per annum)
- Middle-Income Group (Interest rate: 5% to 7% per annum)
Loan Return Time Period
- Minimum Time: 5 years.
- Maximum Time: Up to 20 years.
Application Process for Mera Ghar Housing Scheme Pakistan
- First Select a participating bank. Some major banks that are participating in the program include the National Bank of Pakistan, Bank of Punjab, and HBL.
- Collect documents such as income proof, residence verification documents, and plot ownership documents required by the authority.
- Mail the application form and other supporting documents to a chosen bank.
- The bank will verify eligibility and process the application.
Final Thought
Mera Pakistan Mera Ghar is one initiative that would allow millions of Pakistanis to turn their dreams into a home reality. With this understanding of what the eligibility criteria are, all the benefits the scheme has, and how one can apply, you would open the doors to a bright future. Take the first step today, get your information, and be your own home country. Remember, with planning, coupled with this support, your dream home is possible.