Mera Ghar Mera Ashiana Loan Scheme | Eligibility & Details
The Pakistani government has introduced a new housing finance initiative called Mera Ghar — Mera Ashiana to help middle and lower-income citizens own or build homes. This scheme is seen as a big step in affordable housing strategy. Below is a detailed explanation.
What is “Mera Ghar — Mera Ashiana”?
The scheme offers subsidized housing loans so eligible Pakistanis can purchase a house, construct a home on their own plot, or purchase a plot and then build. Dawn+2Profit+2 It aims specially for smaller size homes and apartments to make housing more accessible.
Loan tiers, amounts & terms
- Tier 1: Loans up to Rs 2 million, with a fixed markup rate of ~5%.
- Tier 2: Loans from Rs 2 million up to Rs 3.5 million, with markup around ~8%. Dawn+1
- Loan tenure can extend up to 20 years.
- A subsidy on markup is given for the first 10 years under certain conditions.
- Eligible housing units include homes up to 5 marlas or flats up to 1,360 sq ft. Dawn+1
- No processing fees or prepayment penalties in many cases. Dawn+2ARY News+2
Eligibility & conditions
- Must be a Pakistani citizen with valid CNIC.
- Should be first-time homeowner or genuine end user.
- Must meet income or financial criteria (details to be set by banks and SBP).
Benefits & challenges
Benefits:
- Makes home ownership more accessible to middle/lower classes.
- Lower markup helps reduce cost burden.
- Longer loan tenures ease instalments.
Challenges / considerations:
- Implementation across rural vs urban areas may face hurdles.
- Borrowers must qualify for creditworthiness.
- Real estate prices must align—if housing market is overpriced, loans may still feel expensive.
For more on this scheme, visit SBP’s site or review the official press releases on Profit / Dawn coverage.
