CM Maryam Nawaz 15 Lakh Loan Scheme – A Guide for Applicants

The Maryam Nawaz 15 Lakh Loan Scheme, launched under the Apni Chhat Apna Ghar initiative, aims to provide interest-free housing loans to low-income families across Punjab. Here’s everything you need to know about the scheme, from eligibility requirements to the application process.

New Update: 15 Lakh Loan Distribution

Starting on October 2, 2024, the Punjab government began the disbursement of these loans to approved applicants. The scheme, valued at Rs. 700 billion, seeks to empower low-income families by supporting the construction or expansion of their own homes. With over 200,000 people registered as of the latest updates, the scheme’s distribution is set to benefit approximately 70,000 households across Punjab.

Eligibility Criteria for the Loan

To qualify for the 15 lakh loan, applicants must meet the following criteria:

Ownership of Land: Applicants must own up to 5 marlas in urban areas or 10 marlas in rural regions.
Income Level: Primarily aimed at low-income families, the applicant’s financial status is verified through Punjab’s poverty survey.
No Existing House: Neither the applicant nor their immediate family should already own a house.
Government Verification: Eligibility is confirmed through a dynamic survey conducted by the Punjab government to ensure that the loan reaches genuinely deserving families.

Step-by-Step Guide to the Online Application Process

Prepare Required Documents
Gather essential documents, including a valid CNIC, proof of income, and property details.
Visit the Official Portal
Go to the Apni Chhat Apna Ghar scheme’s website at acag.punjab.gov.pk.
Create an Account
For new users, click “Create New Account.” Enter your CNIC, phone number, email, and other required information.
Log In and Agree to Terms
After account creation, log in and agree to the terms and conditions displayed on the portal.
Complete the Application Form
Fill in your details, including property information, monthly income, and upload scanned copies of your CNIC and property documents.
Submit the Application
After double-checking the details, submit your application. A confirmation message will confirm successful registration.

Required Documents

The documents required to apply for the loan include:

National Identity Card (CNIC): A copy of both the front and back.
Proof of Income: Documentation of monthly income or recent bank statements.
Property Ownership Documents: Proof of ownership of 5 marlas or 10 marlas of land.
Passport-Size Photograph: For identification and verification purposes.

Ensure that all submitted documents are correct, as any discrepancies could delay or disqualify your application.

Key Benefits and Features of the Loan

The Maryam Nawaz Loan Scheme offers multiple advantages, tailored to support Punjab’s low-income families in achieving home ownership:

Interest-Free Loan: The loan is completely interest-free, making it highly accessible for eligible applicants.
Flexible Repayment: Repayment is structured over seven years, with monthly installments of approximately Rs. 14,000. For added relief, the first three payments are deferred.
Incremental Disbursement: Funds are released in stages to ensure they are used for home construction. Each installment follows a property inspection, confirming the progress of construction.

Also Read: Baitul-Mal Punjab Begins Registration of Persons

Important Deadlines and Loan Distribution

The government has started loan distribution on October 2, 2024. Applicants approved for the scheme should monitor the official portal for their distribution dates and complete any additional steps if notified. Ensure you keep your registration up-to-date and check the list of accepted applicants regularly.

Recap of the CM Maryam Nawaz 15 Lakh Loan Scheme

The Apni Chhat Apna Ghar initiative by CM Maryam Nawaz 15 Lakh Loan Scheme is a transformative program providing eligible families with an interest-free 15 lakh rupee loan. This scheme is designed to improve living standards by promoting secure housing, especially for those without their own homes. By meeting the requirements and completing the online application, thousands of families can benefit from this supportive program and build their futures with confidence.

This interest-free loan scheme is a significant step towards affordable housing for Punjab’s low-income residents, offering not only financial aid but also a pathway to stability and independence. Apply as soon as possible if you meet the eligibility criteria, and take this opportunity to create a secure home for your family.

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