Safiya Homes Faisalabad
More than 90% of Pakistan's actual property owners go to 10% of the country's inhabitants and ironically, that 10% of the workforce utilizes the additional cash for these projects. As a result, the country's residential shortage is still growing and this dangerous trend does not seem to end in the near future, sadly.
Policymakers are trying to make low-cost housing affordable for lower-middle- and low-income segments, and incentivized housing finance into a viable business proposition for banks.
It is evident that the people of Pakistan are mainly homeless because of their small income strata. The monthly instalment of a property that begins at PKR 15,000 in the event of the most inexpensive project is not earned by a lot of poor families. The building of a property on this estate seems to be a dream even more far away. And honestly, those people have more problems to deal with than arranging the bread and the butter of their families, they don't spend their energy, thinking about getting a house.
Would you be surprised if you were informed that an organization has worked hard to resolve this ever-growing country housing scarcity? Yeah, I guess.
Ansar Management Company (AMC), which offers hospitality to households with a monthly revenue of PKR 8000 and PKR 16000 each month, has been in operation since 2009. Safia Homes is the latest development of AMC, Faisalabad. Not only does the company build affordable homes, but its community, grouped with facilities like game areas, parks, masjids, clean air and electricity. These affordable homes are green, well preserved and safe, without sewage problems, and have a strong waste management system.
Safia Homes is on the Lahore-Faisalabad Road in Ada Johal. It is the only housing project in the city that demands simple loan terms with a housing credit facility run by House Building Finance Corporation Limited. In addition, the company also has a community centre and a medical centre. Note that all AMC projects have a proper town plan in the area, with government-approved building laws. As Safia Homes is situated near Faisalabad, the factory workers are expected to contribute for its success.
- The project consists of 1, 2- and 3-bedroom houses with total cost of PKR 1.1 million, P
- KR 1.25 million, and PKR 1.4 million each. AMC is subject to strict requirements for determining who would be eligible to purchase a home in Safia Home, which can be reserved by paying 15% of the total price while providing the rest of the sum for a 20-year installment scheme. The units are only available to buy when they are ready for the customer. However, certain circumstances exist:
- The interested buyer must be a homeless and a Pakistani citizen
- The owner must to live in the house for at least four years
- The houses are not to be rented out or given on mortgage
- Plots and houses are for families
- Houses are not for commercial use
- The customer is required to change after he has done the payment within 60 days. There are currently 40 built houses, and 23 are in possession. In addition, houses and properties have been sold out by 100% in blocks A, B, C, D and F, while bookings have been started in block E.
Please notice that the AMC projects are only for Pakistan's homeless people, so developers are asked to leave it for them.