Lahore: According to press reports, the Lahore Development Authority (LDA) and the Naya Pakistan Housing and Development Authority (NAPHDA) held a second poll on Monday for the 383 candidates for the LDA City Naya Pakistan Apartments.
Read More: Ballot held for NPHP’s LDA City Naya Pakistan Apartments
According to the information supplied, as many as 4,000 low-cost Naya Pakistan Apartments are being created in LDA City in the first phase as part of the government’s flagship ‘Naya’ project. Approximately 2,000 flats will be allocated to NAPHDA-registered applicants, with the remaining 2,000 apartments set aside for LDA-registered applicants.
Read More: Successful applicants to receive a subsidy for LDA City Naya Pakistan Apartments
The government will grant a subsidy of PKR 300,000 to applicants who register with NAPHDA, and the applicants will be required to deposit a 10% down payment. The remaining sum will be financed through banks as mortgage financing. The applicants will pay back the money in small monthly payments over a period of 5 to 20 years. After the applicants have taken possession of their apartments, the repayment of the instalment will begin.
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