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PM Visits Naya Pakistan Housing Project Site in Farash Town, Islamabad

According to news reports, Prime Minister Imran Khan visited the building site of the Naya Pakistan Housing Project (NPHP) in Farash Town, a suburb of Islamabad, to inspect the work on flats now under construction.

According to reports, the Capital Development Authority (CDA), the Frontier Works Organization (FWO), and the Naya Pakistan Housing and Development Authority (NAPHDA) are collaborating to construct 4,400 apartments.

PM Imran Khan was briefed that development efforts are proceeding as planned. In reference to tax relief for the building industry, the minister stated that the current administration offers a 90% exemption.

Read: How to Choose Between Residential and Commercial Property? 

According to the information provided, the project is being constructed on 70 kanals of land at a cost of 15.3 billion Pakistani rupees. The remaining 2,000 flats were intended for salaried and middle-income people.

In addition, under this scheme, the government would grant a PKR 300,000 subsidy for each home and low-interest loans. To this end, thirty billion Pakistani rupees have been allocated.

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