Dubai Islamic Bank

Mera Pakistan, Mera Ghar Housing Scheme

Government has formed a Naya Pakistan Housing Project. Naya Pakistan is an ambitious housing project.

The main goal of Naya Pakistan Housing Scheme is to construct 5 million houses.

The applicants may be people with low incomes and the people who don’t already have their own house.

State Bank has decided to introduce regulatory and policy initiatives which will also complement efforts of Government for housing industry.

The SBP initiatives cover regulatory relaxations to banks/DFIs, introduction of housing finance targets to banks.

SBP offered subsidized fixed rate financial facility for low cost housing for special segments.

These initiatives are expected to facilitate promotion of low cost housing finance in the country.

Low cost housing facility will be offered under following mechanism & eligibility criteria:

Eligibility Criteria	• All men/women holding CNIC. • First time homeowner. • One individual can have subsidized house loan facility under this scheme only once.
Parameter	Tier 1 (T1) (NAPHDA Projects)	Tier 2 (T2) (Non-NAPHDA)	Tier 3 (T3) (Non-NAPHDA)
Size of Unit	(a) House up to 125 sq. yds. (5 Marla) with maximum covered area of 850 sq. ft. and (b) Flat/apartment with maximum covered area of 850 sq. ft.	(a) House up to 125 sq. yds. (5 Marla) and (b) flat/apartment with maximum covered area of 1,250 sq. ft.	(a) House up to 250 sq. yds. (10 Marla) and (b) flat/apartment with maximum covered area of 2,000 sq. ft.
Age of housing units	Newly constructed housing units during last one year from the date of application. However, this requirement will not be applicable till March 31, 2023 under Tier 0, Tier 2 and Tier 3.
Financing Tenor	Minimum 5 years and maximum 20 years loan tenor, depending upon choice of customer.
Subsidized Profit Rate	First 5 years = 3% Next 5 years = 5% For period exceeding 10 years = 1 year KIBOR+2.5%	First 5 years = 5% Next 5 years = 7% For period exceeding 10 years = 1 year KIBOR+4%	First 5 years = 7% Next 5 years = 9% For period exceeding 10 years = 1 year KIBOR+4%
Subsidized Profit Rate	For loan tenors exceeding 10 years, market rate i.e. bank pricing will be applicable for the period exceeding 10 years.
Age (Applicant & Co-applicant)	25 to 60 years
Monthly Income	Ø For Individual & Household PKR 25,000 per month net disposable income
Work Experience	Minimum employment / business experience: 5 years
Maximum Price of Units	PKR 3.5 million* *Market value of a single residential unit at the time of approval of financing	No cap	No cap
Financing Range	Maximum PKR 2.7 million	Maximum PKR 6.0 million	Maximum PKR 10.0 million
Early Payment/ Unit Purchase Option	No restrictions on early payment/unit purchase.