Second Ballot Held for Low-cost LDA City Naya Pakistan Apartments
According to news reports, the Lahore Development Authority and the Naya Pakistan Housing and Development Authority (NAPHDA) held the second poll on Monday for the 383 candidates for the LDA City Naya Pakistan Apartments.
According to provided information, as part of the government’s flagship “Naya” program, as many as 4,000 low-cost Naya Pakistan Apartments are being created in LDA City in the initial phase. Up to 2,000 flats would be allotted to NAPHDA-registered applicants, while the remaining 2,000 homes would be set aside for LDA-registered applicants.
The government would grant a subsidy of PKR 300,000 to applicants registered with NAPHDA, and applicants will be required to make a 10% down payment. The remaining balance will be paid through mortgage financing from banks.
The sum will be repaid in convenient installments over a period of 5 to 20 years. After the applicants are handed possession of their apartments, the installment payment will be commenced.
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