Housing is one of the three
basic needs of life and it
always remains as the top priority of any person. It not
only provides physical shelter but also has a significant impact on
the lives of the dwellers in terms of skills enhancement, income
generation, increased security, health, self-confidence and human
dignity. Mortgages are a relatively new idea in India. Until about 20
years ago, there was almost no formal mortgage finance at all.
People bought houses from their savings. And a highly centralized,
socialist government was not friendly to the idea of private Financial
Institutions (FIs). However, over the years, the Indian housing
finance sector has grown and is, today, crowded with players of
all sizes and nature that includes government organizations,
insurance companies, banks, housing finance companies and
co-operative organizations. Major players in the housing sector are Housing
Development Finance Corporation (HDFC), LICHF, NHB,
HUDCO, Dewan Housing, Can Fin Homes and SBI Home Finance,
etc.
Housing is one of the basic needs of a person. It
determines the physical quality of life. A certain minimum standard of housing
is essential for a healthy and civilized society. Provision for housing
is, therefore, closely connected with the improvement in the quality
of human life in all respects.
Housing is a critical component of basic needs and can be
seen as the physical structure which human beings use for shelter.
The development of housing, therefore, must enjoy high priority in a
poor society, such as ours, where housing amenities are far below
the minimum standards that have been accepted in other countries
of the world. This is very important for healthy and civilized
existence. From a poor person's point of view, adequate provision of shelter
or housing means commitment, efficiency and productivity of
government policies. It is impossible to find a solution for the
housing problem without controlling the growth of population. |
