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Unlocking housing capital: semi-legal titles & informal credit in Delhi’s unauthorised colonies

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  • Divya Sharma

Abstract

This paper examines the saving and credit behavior of low-income households in unauthorized colonies of Delhi using a dual-method approach – financial diaries and a structured household survey. Moving beyond access, the study explores the intensity of financial instrument usage, focusing on bank accounts and LIC policies. Regression analyses highlight key demand-side factors – transaction costs, liquidity, convenience, and financial literacy – as significant determinants of both adoption and usage intensity. Findings reveal that lower time and travel costs, easier fund accessibility, and user-friendly processes enhance financial engagement. Interestingly, while higher income increases the frequency of account use, it may reduce the proportion of income saved, indicating portfolio diversification. LIC policy adoption is driven primarily by ease of process and liquidity features. The study argues that effective financial inclusion requires reducing practical barriers and improving financial literacy. Policies must address demand-side constraints to ensure not just access, but meaningful and sustained usage of formal financial services.

Suggested Citation

  • Divya Sharma, 2025. "Unlocking housing capital: semi-legal titles & informal credit in Delhi’s unauthorised colonies," Review of Social Economy, Taylor & Francis Journals, vol. 83(4), pages 504-528, October.
    • Handle: RePEc:taf:rsocec:v:83:y:2025:i:4:p:504-528
    DOI: 10.1080/00346764.2025.2540103
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