Prime Minister Imran Khan has approved more than Rs. 100 billion for Mera Pakistan Mera Ghar in a ceremony in Islamabad on 24th December 2021.
He approved on Friday Mera Pakistan Mera Ghar Scheme as a “Big Moment” for Pakistan. According to media PM said in ceremony that this scheme “Mera Pakistan Mera Ghar” should launched earlier.
He also said that this initiative step is just for salaried persons who could not afford to purchase their own homes.
As you know that Overseas Pakistan has just only dream to build his own house.
Pakistani work abroad for his own house. But due to low salary he could not fulfill his desire. Keeping in view that initiative “Mera Pakistan Mera Ghar” Scheme has been launched.
This Mera Pakistan Mera Ghar Scheme will allow to a low salaried persons to build their own dream land. PM Imran Khan also said that due to this scheme constructions of homes will increase Pakistan economy uplift.
State Bank of Pakistan has issued scheme in both parts which are conventional and islamic modes. Mostly banks are accessible and giving Mera Pakistan Mera Ghar low rates scheme.
You can also vist SBP official web page for more financial rules Mera Pakistan Mera Ghar.
Financing Type for Mera Pakistan Mera Ghar
There are several financing types for MPMG Scheme declared by SBP to all other bank branches.
1- Purchase a House, Flat or Apartment
From this scheme you can purchase a flat, house or apartment. This is a easy way to get your dreamland for your family.
2- Get A Plot and Construct on It
you can purchase a desire plot at any colony or housing scheme which you like. You can construct and build your house as you like on this plot.
3- Extension Construction on Your Build House
You may financed on your reconstructed your house which you have already build. For this purpose you can also get Mera Pakistan Mera Ghar loan easily.
4- Construct your owned Plot
If you have already purchased your own plot. You can construct your desire home on it. This way you can also finance by your desire banks.
All Pakistani citizens having CNIC and NICOP can apply for Mera Pakistan Mera Ghar Scheme
First time house owner can also apply for this scheme
One person individually can have subsidized house loan facility under this MPMG scheme only for one time.
For NAPHDA projects will shortlists the eligible candidates and upon request of candidate will forward the candidate profile to banks for financing for their dreams.
Loan Repayment Time (Tenure)
This finance scheme is minimum for 5 years to 20 years to pay their loan which they have to get this loan in easy installments 60 months to 240 months for each tier.
Types of MPMG Loan
There are two types of loan can be availed for Mera Pakistan Mera Gha Scheme.
1st of all for NAPHDA projects you can get up to 2.7 million loan (2700000/-) under this NAPHDA(What is NAPHDA) (Means Naya Pakistan Housing & Development Authority) Projects categories.
In this category you can get finance for house which measure up to 125 square Yards (5 Marla) with max covered area of 850 Square Feet.
In this MPMG sheme category your financing approval shall not be exceeded to 3.5 million.
2nd is for Non NAPHDA Projects
In this project Microfinance Banks can provide up to 2 million financing to eligible loan persons.
Similarly commercial banks have tier to finance max to 10 million under this Mera Pakisan Mera Ghar Scheme.
In this tier 6 Million rupees can be financed for construction of a house which measuring up to 5 Marla or a flat/apartment seized up to 1250 square feet.
tier 3 mainly for 10 Marla house which can be financed 10 million rupees for 10 Marla house or 2000 square feet flat or apartment.
Finance Rates For Min & Max
In Mera Pakistan Mera Ghar Scheme Govt. has to calculate 4 tier scheme for finance rates min & maximum.
For this portion borrowed should have to pay 5% mark up for 1st 5 years. Similarly 7% mark up for next 5 years. Then he sould pay KIBOR+700 bps for next remaining years.
This scheme is for NAPHDA Projects. In this scheme client have to pay 3% mark up on 1st 5 years. 5 % mark up should pay to next 5 years on amount.For next remaining years should pay KIBOR+UP to 250 BPS.
This portion is for commercial Banks.
In this portion borrowed should have to pay 5% mark up for 1st 5 years. Similarly 7% mark up for next 5 years. Then he sould pay KIBOR+400 bps for next remaining years.
7% mark up for 1st 5 years. Similarly 9% mark up for next 5 years. Then he should pay KIBOR+700 bps for next remaining years.
What is Tier: Tier means category which has been established in MPMG Scheme.
How to apply Mera Pakistan Mera Ghar Scheme
You may visit your nearest bank branch to apply for Mera Pakistan Mera Ghar Scheme. This is so simple method to apply for “Mera Pakistan Mera Ghar Scheme.
List of Eligible Banks For Financing
Here you can find a list of banks for financing.
NATIONAL BANK OF PAKISTAN
BANK OF KHYBER
THE BANK OF PUNJAB
ALLIED BANK LTD
DUBAI ISLAMIC BANK LTD
FAYSAL BANK LTD
HABIB BANK LTD.
HABIB METRO BANK LTD
MUSLIM COMMERCIAL BANK LTD
SAMBA BANK LTD
STANDARD CHARTED BANK LTD
UNITED BANK LTD.
JS BANK LTD
ASKARI BANK LTD
SONERI BANK LTD
BANK ISLAMI LTD
MUSLIM ISLIC BANK LTD