Buyers must pay 20pc upfront to join PM housing scheme

[GumNaam]

nothing wrong with that, 20% down payment is very normal...

 

[Shahzaz ud din]

Some people do not understand the concept of mortgage it seems. Another sign of stunted growth exhibited by champions of paindos @Champion_Usmani.

 

[Meengla]

That is roughly 2.4 billion dollars required as down payment per year for five years for a total of 12 billion US$'s.

The calculation is based on smaller units proposed at a cost PKR 15,00,000 so a down payment of PKR 3,00,000 per unit is required. They promised 1,000,000 homes per year so annually PKR 300,000,000,000 is required for down payment. It is a big project but can be easily managed via one are a combination of following options.

• Open a Prime Minister's housing-for-needy-fund account and give those overseas Pakistanis a call out for help.
• They can recover the 200 billion dollars of ill wealth and use a small fraction to fund this project.
• They can plug and tax the Ten billion dollars per annum money laundering and use a portion for this project.

Basically, @Champion_Usmani you need not worry as I think PTI team of geniuses have everything under control.

It is obvious a poor person won't have savings of PKR 3,00,000 stashed away so they would definitely need assistance from the government.

I'd gladly pay a down payment for my sister in Karachi to finally own a house---they are in a rental situation and certainly make less than Rs. 50,000/month; in fact, are subsidized by me and others. So how could she start: If I were to send $5,000 to Pakistan, would that be enough to get her started? Her's is a small family and so a 2 BR house would be enough.

Well govt should do something about it, a labour cannot afford 3 or six lacs upfront payment..

Also Govt is not yet clear on the interest rates for rest of the payment.

Showy people in Pakistan spend a lot on wedding ceremonies: From the Engagement Ceremony to all damn events in between through the Valima dinner. Add-in dowry to the mix and a bunch of religious events year around where people, without caring for the spirit of the event, spend a lot, mostly to ingratiate themselves.

And don't get started on 'laborers' buying expensive electronics, starting with more expensive smart phones.

Your paid-for, mortgage-free house is like your base in this world, your anchor, your pivot point. People should take advantage of the govt's largess, save for a few years, and get your own house and start paying the mortgage payments.

And, no, it ain't no Marie Antoinette talk of 'Let them eat cake'.... A lot of people can come up with the 20% down payment.

 

[Max]

Showy people

No one talked about them.

And don't get started on 'laborers' buying expensive electronics, starting with more expensive smart phones.

there are many kind of labours. for example Plumber, electricians or Welders etc does better then a factory worker.. I dont know which class of labour you was talking about, If someone can buy 2ndhand/used smart phone on good day, does not mean he can pay advance of 3 or 6 Lacs.

And, no, it ain't no Marie Antoinette talk of 'Let them eat cake'.... A lot of people can come up with the 20% down payment.

No one denied that, but those will be from middle and rich class taking advantage of the situation, not the 40% poor Pakistanis living below 3 dollars a day. if i am not wrong this scheme was for poor, hence i said Govt should do something to ease this issue of advance payment.