Mera Ghar Mera PakistanMera Ghar Mera Pakistan

Mera Ghar Mera Pakistan

The dream of proudly owning a domestic is a cherished one, and the Pakistani government’s Mera Ghar Mera Pakistan(My Home, My Pakistan) application used to be installed to make that dream a reality for many citizens. This initiative aimed to facilitate less costly housing for folks and families. If the application is nonetheless operational, this publish delves into its details, eligibility criteria, utility process, and doable benefits.Keeping in view want to enhance availability of enough housing in the us of a and necessary function of building quarter in boosting financial things to do in different countries, Government of Pakistan envisions to enlarge the variety of housing devices manifold in coming years and has taken a number of measures in this regard.

Government of Pakistan, State Bank of Pakistan 

To assist this imaginative and prescient Government of Pakistan, State Bank of Pakistan has taken a number of measures considering July 2020 to guide the provision of financing for the housing and development sector. In October 2020, the Government of Pakistan augmented these efforts via introducing the Government Markup Subsidy Scheme, now often recognised as Mera Pakistan Mera Ghar (MPMG) markup subsidy Scheme. Government liberalized aspects of the MPMG scheme in the wake of remarks of stakeholders to gain the large strata in March 2021.Available in each traditional and Islamic mode, this scheme permits banks to furnish financing for the development and buy of homes at very low financing quotes for low to center earnings segments of the population.

 also read BISP Cash Payment Shifts to BanksSchema


Tier 0Tier 1Tier 2Tier 3
Financing AmountInstallmentFinancing AmountInstallmentFinancing AmountInstallmentFinancing AmountInstallment
Monthly installment from year 1 to 5
Rs. 0.5 Million3,300Rs. 1 Million5,546Rs. 1 Million6,600Rs. 6 Million46,518
Rs. 1 Million6,600Rs. 2 Million11,092Rs. 3 Million19,799Rs. 8 Million62,024
Rs. 2 Million13,199Rs. 2.7 Million14,974Rs. 6 Million39,597Rs. 10 Million77,530
Monthly installment from year 6 to 10
Rs. 0.5 Million3,751Rs. 1 Million6,351Rs. 1 Million7,501Rs. 6 Million52,492
Rs. 1 Million7,501Rs. 2 Million12,702Rs. 3 Million22,503Rs. 8 Million69,990
Rs. 2 Million15,002Rs. 2.7 Million17,147Rs. 6 Million45,007Rs. 10 Million87,487

Mera Ghar Mera Pakistan Program

is a collaborative effort between the State Bank of Pakistan (SBP), the authorities of Pakistan, and more than a few business banks. The application affords backed financing choices to eligible candidates for the buy or building of a new home. By making homeownership greater accessible, the software intends to enhance the country wide economy, create jobs in the development sector, and enhance the normal first-rate of existence for citizens.

also read Meezan Bank Mera Pakistan Mera Ghar scheme

Eligibility Criteria

While particular necessities may change, here is a familiar notion of who may also be eligible for “Mera Ghar Mera Pakistan”:

  • Income level: The software possibly targets persons or households with average profits who would not in any other case qualify for traditional domestic loans due to high-interest fees or down fee requirements.
  • Residence: Applicants are anticipated to be Pakistani residents dwelling in Pakistan.
  • Employment status: Salaried persons or these with demonstrably everyday earnings may be given preference.
  • Plot ownership: Possession of a legally authorized plot for establishing a residence ought to be a prerequisite.

Loan Details (assuming application is nonetheless available)

  • Subsidized hobby rates: The application in all likelihood gives hobby charges drastically decrease than market rates, making month-to-month repayments extra manageable.
  • Loan amount: The most mortgage quantity may be capped, with obstacles relying on elements like profits degree and location.
  • Down payment: The software would possibly require a down payment, however it is probable to be decreased than what ordinary lenders demand.
  • Repayment period: The mortgage ought to come with a prolonged compensation term, permitting debtors to unfold out the repayments over a longer duration.

Application Process (assuming application is nonetheless available)

  • Bank selection: Choose a collaborating financial institution from the listing supplied by Document collection Gather imperative archives like profits proof, dwelling verification, and plot possession archives (if applicable).
  • Application submission: Submit the executed utility structure and required files to the chosen bank.
  • Verification and approval: The financial institution will affirm your eligibility and check your mortgage application.

also read Prime Minister Youth (PMYSDP) ProgramsSchema:

Benefits of the Program (assuming application is nevertheless available)

  • Affordable homeownership: The backed quotes can make homeownership a practical opportunity for many.
  • Financial stability: Lower month-to-month repayments can ease the monetary burden and promote monetary stability.
  • Economic growth: Increased right of entry to housing can stimulate the building area and create jobs.
  • Improved high-quality of life: Owning a domestic can supply an experience of protection and enhance usual well-being.

Important Considerations

  • Program availability: It’s integral to affirm if Mera Ghar Mera Pakistan is nevertheless an energetic program. Contact SBP or collaborating banks for today’s information.
  • Eligibility verification: Carefully determine your eligibility based totally on the program’s standards to keep away from software rejection.
  • Loan terms: Understand the hobby rate, mortgage amount, reimbursement period, and any related charges earlier than applying.
  • Financial commitment: Homeowner ship is a long-term commitment. Ensure you can effectively control the month-to-month mortgage payments.

 BISP Payment MethodSchema:

SBP Initiatives to Promote Financing Under MPMG

  • State financial institution has taken a range of regulatory measures to create conducive regulatory environment, few of them are listed below:
  • Relaxation of DBR in case financial institution be counted on compensation surrogate for extension of financing
  • In case of use of casual earnings estimation models, banks will be exempt from the requirement of verifiable profits only.
  • Banks/DFIs are allowed to lengthen low value housing finance in opposition to private warranty of a 1/3 birthday party for a most duration of one (01) year.
  • Standardized mortgage utility form
  • Standardized Facility Offer Letter
  • Standardized set of files required for financing approval
  • Standardized set of property files required for disbursement of financing
  • Punjab Government’s on-line portal for banks to verify
  • Punjab and KPK online portal record accredited projects

also read Ehsaas Program CNIC Check Online 25000Schema:

Mera Pakistan Mera Ghar for Homeownership

Mera Pakistan Mera Ghar is a remarkable initiative that empowers countless Pakistanis to achieve the dream of owning a home. By understanding the eligibility criteria, program benefits, and application process, you can unlock the door to a brighter future. So, take the first step today, research thoroughly, and embark on the journey towards owning your own piece of Pakistan. Remember, with careful planning and the support of this program, your dream home can become a reality.


Can I apply?

 Yes, if you are a Pakistani citizen with a legitimate CNIC and a first-time homebuyer. You can solely make use of the sponsored mortgage software once.

Are there earnings brackets?

 The software has tiers based totally on income, with distinctive pastime rates. Tier 1 applies to NAPHTHA permitted tasks and has the strictest requirements.

Loan Details:

What’s the most mortgage amount?

 The authorities currently lifted the cap on the property fee for most tiers. Tier 1 (NAPHTHA projects) nevertheless has a limit of 3.5 million PKR.

What are the activity rates?

 They are subsidized! Tier 1 affords 3% for the first 5 years and 5% for the subsequent 5. Rates are greater for different tiers.

What’s the mortgage tenure? 

The minimum is 5 years and the most is 20 years.