Abstract
Housing is one of the basic needs of an individual in terms of safety, security, self-esteem, social status, satisfaction and achievement. A large amount is required to construct/purchase a house, which is generally not available to a person. Hence, over the last few years, housing finance has become an attractive business for financial institutions of India due to its low risk characteristics. But this sector has some problems which require attention. My present paper is an effort to draw attention towards the problems of this sector.
Highlights
The word ‘problem’ refers to a harmful matter needed to be dealt with and overcome
When we consider over the problems of housing finance sector of India, it is obvious that there are some problems which create hurdles in the path of smooth growth of this sector such as insufficient infrastructural development, unequal distribution of national capital, cost of acquisition of land, Government housing policies etc. these problems are of typical nature and require a long term continuous attention and strong will power to be rooted out from the side of Govt. of India as well as the society
For the convenience of the study the problems of housing finance sector can be discussed under the following separate headings: (A) General problems of housing finance sector of India (B) Problems faced by housing financing agencies (C) Problems faced by housing finance customers (A) General Problems of Housing Finance Sector of India
Summary
The word ‘problem’ refers to a harmful matter needed to be dealt with and overcome. When we consider over the problems of housing finance sector of India, it is obvious that there are some problems which create hurdles in the path of smooth growth of this sector such as insufficient infrastructural development, unequal distribution of national capital, cost of acquisition of land, Government housing policies etc. these problems are of typical nature and require a long term continuous attention and strong will power to be rooted out from the side of Govt. of India as well as the society. Housing finance sector is developing at a fast pace during last two decades due to the enthusiastic interest of Government of India to solve the housing problem of the country. The Government of India is trying to play the role of facilitator by offering a number of housing schemes for different section of the society, but due to poor administrative control and lack of strong will power of most of the schemes are squeezed only up to the basic levels and never attain its final objectives. The role of Government of India to boost up housing finance sector is limited up to the formation of National Housing Board (NHB) . Development of Fundamental Infrastructure for Housing and Technological Innovations Housing is basically an urban phenomenon It needs some basic infrastructural facilities like roads development, electricity and water supply, proper drainage system etc. The private builders’ and colonizers’ contribution in this particular area is significant
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