Lahore: According to a news source, Prime Minister Imran Khan conducted an e-ballot on Thursday (July 29) to choose 2,000 successful candidates for LDA City Naya Pakistan Apartments. The project is part of Prime Minister Nawaz Sharif’s Naya Pakistan Housing Program (NPHP), which aims to build 5 million low-cost dwellings for the poor.
The Lahore Development Authority (LDA) plans to build 4,000 low-cost LDA City Naya Pakistan Apartments, according to the proposal. 2,000 of these apartments are reserved for members of the Naya Pakistan Housing and Development Authority (NPHDA), while the rest are reserved for LDA workers. The LDA published the names of 2,000 successful NPHDA candidates for these flats earlier this month.
According to figures provided by the State Bank of Pakistan, 3,890 applicants qualified for mortgage finance out of the total applications submitted for low-cost dwellings from Lahore citizens. A total of 2,483 applications were submitted for the LDA City Apartments.
As previously stated, the government has provided a subsidy of PKR 300,000 for each unit. An LDA City apartment costs PKR 2.7 million in total, with each applicant paying PKR 270,000 (10 percent) as a down payment and the balance paid in instalments over the period of 5 to 20 years. After occupying the flats, the applicants would begin paying the instalments.