A STUDY OF HOUSING FINANCE

Abstract

Experiences in India's Housing and Housing Financing Professor Madhu Bharti, CEPT University, India. Abstract It has been more than half a century since India gained independence, and the makeup of its urban population presently stands at 32
percent. The state's response has been to implement a variety of programmes to deal with the rising population's needs. A function of service provider was first assumed by the government, but over time, the government has permitted the private sector to play a bigger role. These developments have led to massive construction of private dwellings for the wealthy, but many of these remain empty or unsold while a major portion of the population (particularly in cities like Mumbai) remains in slums and poorly maintained neighbourhoods. Since a lack of success has been shown in government attempts to get the private sector engaged, wealthy people are moving into exclusive cities with no involvement or room for the poor. The government's goal of providing affordable housing to everyone by 2022 is a lofty one. A number of measures have been done to introduce private money and transparency to the industry in the last year or so. State sector involvement in urban issues is the focus of the full abstract on 'Housing and Housing Finance in India: Recent Experience'.