Pakistan cuts Apna Ghar loan documentation to five documents
Pakistan has reduced and standardised property documentation for the Apna Ghar Programme, which offers eligible applicants housing loans of up to PKR 10 million for first-time home construction.
Pakistan has reduced the property documentation required for bank loans under the Prime Minister’s Apna Ghar Programme to five documents in a move aimed at simplifying applications and expanding access to housing finance.
The Ministry of Housing and Works announced the change on Sunday, saying the requirements had been standardised on the directives of Prime Minister Shehbaz Sharif. The State Bank of Pakistan (SBP) has issued formal instructions to banks to implement the revised requirements.
Under the government-backed scheme, eligible applicants can obtain loans of up to PKR 10 million to construct their first homes, according to the ministry.
The revised documentation requirements include the transfer and possession letter, site plan, mortgage permission letter and mortgage registration documents. The ministry said the changes would address complaints from applicants who had previously faced demands for extensive paperwork when applying for housing loans.
An official of the ministry said standardised documentation would make it easier for people owning different categories of properties and plots to access financing under the programme.
Eligible properties include those in urban development authorities, housing societies and private housing schemes, as well as urban revenue and freehold properties. The list also covers special and legacy-record properties, Defence Housing Authority plots, houses and apartments, and cantonment and Military Estate Office leasehold properties.
Rural revenue properties, government housing schemes and Evacuee Trust properties are also included in the eligible categories.
The ministry further stated that housing finance could be extended against Green Property Certificates issued by the Punjab government or equivalent certificates issued by the relevant authorities in other provinces.
The documentation changes are intended to reduce procedural hurdles for applicants seeking to purchase or construct their first homes and make the housing finance scheme more accessible nationwide.
