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Housing Finance System In India

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Subject :Urban Housing
Branch : Civil Post Graduation In TOWN AND COUNTRY PLANNING

PDF Report:https://drive.google.com/file/d/0B-pK17VRHS--aUQ3MFdYRUVzbDJQcy02R1E1NE5BeVJhR3VR/view?usp=sharing

Published in: Engineering
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Housing Finance System In India

  1. 1. Urban Housing (Subject Code: 2714801) Exam Date: 15-12-2014 P. G. CENTER IN CIVIL ENGINEERING DEPARTMENT SARVAJANIK COLLEGE OF ENGINEERING & TECHNOLOGY, SURAT MASTER OF ENGINEERING CIVIL (TOWN AND COUNTRY PLANNING) Affiliated with GUJARAT TECHNOLOGICAL UNIVERSITY ME Civil (T&CP), Semester – I,Dec 2014 Presented by: 140420748011-Pathik Chaudhari Faculty In-Charge: Prof . Sejal Bhagat Prof . Naresh Rokad Prof. Himanshu Padhya HOD Civil Engg. Department GRADUATE REPORT ON Housing Finance System For India 1
  2. 2. Table Of Contents 2 Sr. No. Name Of Topic 1 Introduction 2 Housing Scenario In India 3 Housing Scenario In India 4 Housing: The Problem Summery 5 The Role of Government 6 Functions of Urban Local Bodies 7 Concluding Remarks 8 References
  3. 3. Introduction • Housing being one of the three basic needs of life always remains in the top priorities of any person, society and economy. • The problem of space, privacy, security and sanitation leads to social, economic and environmental degeneration. • Housing finance may be defined as the need to reconcile the three partially conflicting objectives of affordability of households, viability of financial institutions and resource mobilization for the expansion of housing sector and of the national economy. 3
  4. 4. Housing Scenario In India • The development of satisfactory housing has always been the priority of both the central and state governments. • A rapid rise in population results in higher demand of dwelling units for residential purposes. • As the country enters an era of economic growth, economic liberalization and prosperity, the country seem not yet ready to house the growing population and provide work and services and environmental infrastructure for all. • The twin problems of affordability and availability prevail in most part of the country. 4
  5. 5. Population and Housing Stock Source: Census 2001. Rural Urban Total 1981 1991 2001 1981 1991 2001 1981 1991 2001 Population (Million) 523.87 628.70 742.00 159.46 217.60 285.00 683.33 846.30 1027.00 Housing Stock 81.88 108.47 135.10 26.07 38.74 52.06 107.95 147.21 187.61 5
  6. 6. Housing: The Problem Summery • Rapid population growth coupled with rapidly increasing urbanization and widespread poverty have created a serious shelter problem in India, contributing to the proliferation of slums, increased demand for urban infrastructure and services, and declining quality of life for low-income households. • With the exception of government-sponsored housing programmes, formal housing finance institutions (HFIs) are reluctant to lend to low-income households because of factors such as the relatively high transaction and servicing costs, irregular and unsubstantiated income sources, and the absence of collateral in the form of title to property. 6
  7. 7. The Role of Government • The Government has adopted the role of a facilitator instead of a provider. • One of the major obstacles facing the public initiative for housing is the unrestrained population explosion. Further, the constant migration of people from rural areas to cities in search of jobs puts housing and basic services in the urban areas under considerable strain. • The facilitating role of the government and other financial institutions along with private intervention in facilitating finance to address the housing needs of the society is an indication of the significance of the sector in overall development of the economy. 7
  8. 8. Indian Financial System • The Government implemented many of its schemes through state housing boards that allocated serviced land and housing to individuals based on social welfare objectives, not commercial considerations. • The 1970s marked two significant developments in the housing finance sector. A public sector housing company, HUDCO, was established in 1970, and the first private housing finance company (HFC), HDFC, was established in 1977. • HUDCO served as the principal institution to finance Government-supported housing programmes • HDFC introduced mortgage financing to India and has become the largest and most successful HFC in the country. 8
  9. 9. Group Sub Group Channel Development Financial NHB Financial Institutions Institutions NABARD P U B L I C Non-Banking Finance Company Housing Finance Companies Other NBFCS Banks Scheduled Commercial Banks Private Sector Banks Public Sector Banks Foreign Banks Co-operative Banks Scheduled Urban Cooperative Banks District Co- operative Banks Scheduled State Cooperative Banks Other Institutions Agriculture and Rural Development Banks Primary Land Development Banks Apex Co- operative Housing Societies Housing Societies 9 The Housing Finance System in India
  10. 10. Functions of Urban Local Bodies • Given the importance of functions and responsibilities entrusted to the local self-governments, the issues relating institutional structure of ULBs gain tremendous significance. • These structures are not uniform across states or even metropolitan (or district) areas, and are plagued with political and administrative problems. • These ULBs make the successful execution of devolved functions a challenging task for the local bodies. 10
  11. 11. Functions : • Urban Planning Including Town Planning • Planning For Economic And Social Development • Roads And Bridges • Water Supply For Domestic, Industrial And Commercial Purposes • Public Health, Sanitation Conservancy And Solid Waste Management • Slum Improvement And Up-gradation • Urban Poverty Alleviation 11
  12. 12. Concluding Remarks • It should be noted that at the time of Independence, India’s financial system was rather small although both savings and investment rates were very low. • The rapid increases in population and migration of rural people to urban areas and expansion of industrial and commercial activities have created huge demand for housing in both urban and rural centres. • Indian government had also decrease the demand for housing through formulated five year plans. 12
  13. 13. References • National Housing Bank (2002) “Report on Trend and Progress of Housing in India, June 2002”, India Habitat Centre, Lodhi Road, New Delhi – 110 003. • Ferguson, Bruce (2001) “Process, Policy, and Public-Private Partnerships in Housing in Developing Countries: What Can the United States Learn?”, Housing Policy in the New Millennium, 07FERGUSON.PDF, pp. 175-201. • financingcities.ifmr.co.in/ : Financing Small Citites 13
  14. 14. Thank you 14

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