KARACHI: In a bid to promote low-cost-housing and construction finance, the State Bank of Pakistan (SBP) has introduced new regulatory incentives for banks.
The value of the housing unit increased to Rs3.5 million from Rs3 million, with a maximum loan size now increased to Rs3.15 million, from Rs2.7 million.
The increase in the minimum loan facility caters the commercial banks to enjoy more markup subsidy facility on the credit, along with the low-cost housing finance incentives as well.
Moreover, the central bank relaxed the condition of the documented source of income, allowing people to apply for low-cost housing easily.
The Banks have been directed to devise alternative methods for the identification of income sources and assessment of the creditworthiness of the borrower, as announced by the SBP.
To further accommodate the borrowers to easily avail the loan, the commercial banks have also been granted permission to skip the Internal Credit Risk Rating System (ICRRS), till September 30 2020.
For news and blogs, visit Graana.com.
Quetta Town is a residential neighbourhood located in the vibrant city of Karachi, Pakistan. Known…
Akbar Chowk in Lahore stands as one of the city’s most critical intersections, serving as…
Khuda Baksh Colony, located near Bhatta Chowk in Lahore, is a rapidly developing residential area…
Gol Market in Karachi is one of the city's most iconic and bustling commercial centres.…
Model Town, located in the heart of Gujranwala, is one of the city’s most prestigious…
ISLAMABAD, Pakistan— In a major move to address the longstanding grievances of overseas Pakistanis, the…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
