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Government schemes to help you buy a house

State Bank offers housing loans of up to Rs5m

SAMAA | - Posted: Oct 20, 2020 | Last Updated: 1 month ago
Posted: Oct 20, 2020 | Last Updated: 1 month ago

As a part of the Naya Pakistan Housing Scheme, the government is facilitating the construction of low-cost houses. The State Bank is also ready to offer loans of up to Rs5 million at a 5% interest rate for people who don't own a house yet. State Bank’s Syed Samar Hasnain says people should opt for their own house as the instalments they would pay will just be like the rent they give. But in this case, they will eventually own a house. Meanwhile, the low-cost houses are expected to emerge in Karachi’s suburbs and Association of Builders and Developers (ABAD) Patron-in-Chief Mohsin Sheikhani says housing schemes will be constructed near the Northern Bypass.
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