Housing Finance in India during the last decade has gone through many changes. From very low exposure to the housing sector initially, banks have gone very fast in extending credit to this sector which has witnessed unprecedented expansion. With urbanization and higher level of economic growth, it is quiet natural that the housing sector has received a enormous growth. However, in the recent years the banks have gone faster than what could be a reasonably justified in financing this sector. At the international level, the speed at which banks have rushed to this sector, has resulted in financial crisis causing great damages to the stability of the banking system. Housing is one of the most important that we human beings need. Adequate housing is essential for human survival with dignity. There are many things that we would find difficult, if not impossible to do without good-quality housing. Housing shortage is an universal phenomenon. It is more acute in developing countries. The housing scenario has become more critical in India in recent years. India has initiated so many housing reform that has taken many forms and manifestations characterized by the reduction in social allocation, cutbacks in public funding and promotion of a real estate culture in close partnership between the state and private actors. Mortgage financing markets can play an important role in stimulating affordable housing markets and improving housing quality in many countries. Unfortunately, these are still in infancy in India. This lack of development often translates into lower homeownership rates or poor housing quality. Most of these problems stem from the central dilemma that the resources are always too limited and housing development heavily depend on the financial institutions such as banks, credit corporations and development banks for the supply of finance to meet their daily financial needs. Against this backdrop, this paper will assess basic hurdles of Indian financing system.
Housing Sector, Housing Shortage, Mortgage, Housing market and Housing finance in India.
International Journal of Trend in Scientific Research and Development - IJTSRD having
online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International
Journal which provides rapid publication of your research articles and aims to promote
the theory and practice along with knowledge sharing between researchers, developers,
engineers, students, and practitioners working in and around the world in many areas
like Sciences, Technology, Innovation, Engineering, Agriculture, Management and
many more and it is recommended by all Universities, review articles and short communications
in all subjects. IJTSRD running an International Journal who are proving quality
publication of peer reviewed and refereed international journals from diverse fields
that emphasizes new research, development and their applications. IJTSRD provides
an online access to exchange your research work, technical notes & surveying results
among professionals throughout the world in e-journals. IJTSRD is a fastest growing
and dynamic professional organization. The aim of this organization is to provide
access not only to world class research resources, but through its professionals
aim to bring in a significant transformation in the real of open access journals
and online publishing.