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Complete Guide to Roshan Apna Ghar Financing for Overseas Pakistanis
For every Overseas Pakistani, it is their dream to buy a house in Pakistan. And they didn’t know how to invest a securely in Pakistani land and where to start. Here is a good news for Overseas Pakistani that the Pakistani real state market has taken a great step into the new phase of transparency. Government of Punjab has announced a new Roshan Apna Ghar scheme recently. And in this Roshan Apna Ghar scheme, every Pakistani is living in abroad and dream to build or fix their home in Pakistan can buy or fix it through Roshan digital account.
Roshan Apna Ghar Scheme make it possible to manage the whole construction or purchase process remotely. And in this scheme government introduces a safe exit strategy that has not introduced even before.
What is Roshan Apna Ghar Scheme?
Basically Roshan Apna Ghar scheme is designed to construct their own house in Pakistan through their Roshan digital account without any stress. It is a very safe process because Government makes sure that your money is safe. And you invest in a right place in Pakistan where you don’t need to get worry.
And in this scheme everything is online. It is an easy way to take money back if you don’t want to get it in future. You can sell your house later and all your money will be return back to you.
Key highlights:
Roshan Apna Ghar scheme is such a great initiative for those Overseas who want to build their own house. Buy a house for their children or parents or if they want to enjoy their summer vacation. All this has possible because of the Roshna Apna Ghar scheme.
1: Complete digital and remote convenience
Everything in this scheme is online and fully digital from account opening to loan application. You can open your account online without visiting the bank branch of Pakistan.
You can also manage your property remotely by nominating a person Pakistan. And the person you will nominate will be able to handle your property on your behalf.
2: Investment security
- Pre-approved projects
- Fully repatriability
- Property verification
3: Flexible Financing operation
- In a Lien based financing, every overseas Pakistani who has their savings in RDA or Naya Pakistan certificates, no mortage will be required there. Get up to 99% of the property value in Lien Based financing.
- The second option is a non lien based financing and this is a traditional mortage. Get up 85% of the property value for every construction or purchase in Pakistan.
4: Benefits and protections in this Scheme
- Simplified taxation
- Free Property insurance
- Optional life Takaful
- Categories of property use
- Buy plot and construct it
- Purchase a home
- Renovation
- Construction only
Eligibility and requirements
If you want to apply for this Roshan Apna Ghar scheme, you must have to meet the following requirements
- Your status must be Overseas Pakistani and you have a Pakistani origin card or NICOP.
- Age of an overseas Pakistani must be to 20 to 60 years if you are doing any job or if you are self employed your age must be 65 years.
- Your Roshan Digital account must be active. And you can open your Roshan digital account in any bank branch of Pakistan for example UBL, ABL, Meezan, Al Habib.
- Roshan Apna Ghar allows you to add 4 Co-applicants like adult children, parents, siblings or spouse.
How to apply?
You have to open an RDA by participating in any Pakistani Bank or open your RDA online.
Then after opening your RDA account select your property from Pre approved project or choose private property.
Then login to Roshan digital account. And upload the digital copies of your income proof Like bank statement and salary slips.
Complete the process and once your application will be approved the bank will pay the whole payment directly to the seller.
Conclusion:
If you want to buy a house in Karachi for your family or for your parents or if you want to buy a retirement Villa in Islamabad, you can buy any house in Pakistan by participating in this scheme. For those who want to buy a house on lowest possible interest rate Lien based option is best.
