PHA Foundation to assist Peshawar Residencia allottees in instalment payments | Pakistan Today

PHA Foundation to assist Peshawar Residencia allottees in instalment payments

PESHAWAR: Khyber Pakhtunkhwa (KP) Minister Housing Dr Amjad Ali has said the provincial government is committed to providing shelter to the low-income strata of the province at affordable rates. He said the housing department works on a no-profit, no-loss basis and was not a profit-earning enterprise.

He expressed these views while presiding over a meeting on Peshawar Residencia Project (PRP) under Naya Pakistan Housing Scheme in Saruzai. The meeting was also attended by Director General Provincial Housing Authority (PHA) Imran Wazir and other relevant officials.

While addressing the meeting Dr Amjad Ali said the PRP was a flagship project of KP government, and it would be completed at any cost. He said the per square feet cost of the Peshawar Residencia was much lower than that of the market. He also added that the housing scheme offers the construction of grey structures at subsidized rates, which also includes land and developmental charges. The provincial government was going towards the realization of Prime Minister Imran Khan promise of affordable houses, Dr Amjad remarked.

The PHA officials in the meeting said the PHA Foundation was the execution partner of the PRP, added that it was responsible for the acquisition of land, construction of road, main gate, boundary wall and check posts. The provincial government would also build a road from Zangali check post with a cost of Rs3.47 billion.

The officials apprised the housing minister that the department was aware of public concerns regarding the instalment plan for their housing units in the residencia. However, the federal PHA Foundation calculated the cost of the housing units based on actual land cost, developmental charges and construction cost. They added the payment schedule was issued keeping in view the project’s targeted completion period of three years.

They added, the per square feet cost on construction of a house in Bahria Town and DHA was assessed around Rs3200 to Rs4200, without including the cost of land and developmental charges. While on the other hand, the Peshawar Residencia offers a cost of Rs2800 per square feet including the land and developmental charges.

For the facilitation of the allottees in instalments payment, bank home finance facility would be offered to the low-income segment. PM Imran had also announced that commercial banks would provide housing loans to the low-income groups for the construction of their houses.

The minister was briefed that if any of the allottees was unable to pay the down payment or instalment for their housing unit and interested to avail the loan facility from the bank, federal PHA foundation would provide all the documents required for obtaining a soft loan.