Second Balloting of NAPHDA 383 applicants was conducted today at Naya Pakistan Housing and Development Authority Office. Under LDA City Naya Pakistan Apartments phase 1 Lahore project 4,000 low cost apartments are being constructed. Out of these 2,000 apartments will be allocated to the NAPHDA registered applicants. The remaining 2,000 apartments have been reserved for LDA registered applicants. The Government of Pakistan will pay Rs.3 lac as Cost Subsidy for each apartment. The applicant will deposit 10% of the value of the apartment (Rs. 27 lac), i.e about Rs. 2 lac 70 thousand as down payment. The remaining amount 21 lac 30 thousand rupees will be paid as mortgage finance through banks. Re-payment will be made by the applicant to the banks in the form of easy installments over a period of 5 to 20 years. The important factor is that the repayment of installments will start when the applicant has been handed over the possession of apartment. Second Balloting Ceremony for 383 apartments of NAPHDA applicants was attended by Chairman (NAPHDA) Lieutenant General Anwar Ali Hyder, HI(M) (Retd) and Deputy Chairman (NAPHDA) Major General Amer Aslam Khan, HI(M), T Bt (Retd) among other officials today.
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