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Legal Impediments in the Growth of Housing Finance in India

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  • P.S.A. Sundaram

    (P.S.A. Sundaram, Additional Secretary (AR&T), Department of Administrative Reforms and Public Grievances, Government of India, New Delhi.)

Abstract

It has been estimated that around Rs. 77,500 crores would be the requirement for the housing sector during the 8th Five Year Plan. It has been further estimated that around forty lakh dwelling units would be required provide shelter to the needy persons by the turn of the century. Viewed in the above context, this paper identifies some of the legal impediments hindering the growth of the housing sector, the most crucial being resource mobilisation. To ensure recycling of funds, the existing legal provisions for timely recovery of loans need to be suitably modified. A secondary mortgage market, on the pattern of other countries, could play an important role in resource mobilisation for the growth of housing finance in India.

Suggested Citation

  • P.S.A. Sundaram, 1997. "Legal Impediments in the Growth of Housing Finance in India," Vision, , vol. 1(1), pages 14-17, January.
    • Handle: RePEc:sae:vision:v:1:y:1997:i:1:p:14-17
    DOI: 10.1177/09722629X97001001002
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