House Price Announced for Naya Pakistan Housing Project

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Naya Pakistan Housing Project
The image is for illustration purpose only. Image: Google

The government has announced and fixed the prices of housing units in the Prime Minister’s Naya Pakistan Housing (NPHS) project.

As per the media reports, the rates will be:

  • Rs. 16.5 lacs to 17.5 lacs for a 3 Marla house
  • Rs. 21 lacs to 23 lacs for a 5 Marla house

No details have been provided regarding the construction of above 10 Marla houses. Apparently, the government has no plans to build large housing units. Houses will be allocated to applicants through a lucky draw, and the Punjab Housing Task Force has approved the houses rates, reportedly.

Houses will be constructed in different cities of Punjab and other provinces with the help of public-private partnerships. Media reports say that soon PM will inaugurate the construction of 25,000 housing units in Lahore and Capital Islamabad.

Senior Punjab Minister Abdul Aleem Khan has urged the private sector to come forward and bid for the Prime Minister’s Naya Pakistan Housing (NPHS) project. He was talking to the members of the Association of Builders and Developers of Pakistan (ABAD) here on Sunday.

Earlier, Egyptian billionaire Naguib Sawiris has also shown his interest in building and investing in 100,000 housing units in Pakistan under the Prime Minister’s Naya Pakistan Housing (NPHS) project.

There is no doubt that such an extensive project cannot be realized without the involvement of the private sector. It would be ideal if the government just regulate the whole project while the private companies handle the construction-related work. However, there is a need that government devises new banking and other laws to support the project. Furthermore, the investors should be facilitated with the one window operations and tax leverage.