Housing Finance Market Regulatory Body on the Cards
The government is working on establishing a regulating organization for the country’s home finance market, which is currently supervised by the State bank of Pakistan and is witnessing rapid expansion (SBP).
Read: Why Pakistan Needs Micro Apartments in 2023?
In this regard, Finance Minister Shaukat Tarin indicated earlier this week, when introducing the economic plan for sustainable growth, that the regulatory authority known as “Pakistan Housing Bank” will be established “in due course.”
Prior to the recent issuance of licenses by the SECP, there was no home finance firm in Pakistan. However, three such companies are likely to begin operations in the current year.
SBP data indicates that outstanding loans for building projects reached Rs 97.9 billion at the end of last month, a 42 percent increase from July 2020.
The government has put aside Rs 36 billion for its 10-year housing loan mark-up subsidy program to encourage affordable housing.
Read: Coca-Cola is About to Launch Its Own Phone
It is giving 20-year mortgages through commercial banks at yearly rates of 3 percent, 5 percent, 7 percent, and 9 percent, depending on the size and value of the property. Its goal is for outstanding home finance to account for at least 5 percent of total private-sector credit by the end of this year.
As of April 20, banks had received more than Rs 52 billion in financing requests from the general population under this initiative, with the sanctioned amount exceeding Rs 15 billion.
Please contact Al Sadat Marketing for further assistance.
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
