This article attempts to capture the story of an informally employed low-income household who, with the help of informal financial agents, successfully navigated the informal-formal space of housing finance to buy the house of their choice. The article starts with contextualising the accessibility and affordability constraints for housing finance faced by low-income households. Following this, we discuss a case study of an informally employed home loan borrower, explaining the negotiations playing at the cusp of the informal-formal. Lastly, we deliberate upon the roles of lending institutions, specifically during the COVID-19 crisis and the financial recovery of the home loan industry.
By IHR Team on September 30th 2021
This is the second post in a series on the India Housing Report focusing on digital technology and tech entrepreneurship in housing, where we try and examine what motivates entrepreneurs in this area, the challenges and potential of using digital solutions, and whether India is ready for such innovative products in the informal housing market. In this piece, we interview Ganesh Shankar, Co-Founder of Homehub, about their product and services.
By IHR Team on August 10th 2021
A report on IHR’s first webinar on Friday, 30th July on housing finance access to those with unclear titles. With experience across rural and urban contexts, the panel discussion revealed the complexities of the issue and highlighted potential directions for intervention.
This case study describes a unique product and operational mechanism of mainstream housing finance provision in an environment with absent or poor-quality home ownership titles.
By Malay Kotal on June 16th 2021
Access to land in Indian cities is a major challenge for the urban poor due to the complexity of land tenure, scarcity of land, speculative land prices, and lack of political will. As a result, a majority of them are forced to live in informal settlements without having secure tenure, facing continuous threats of eviction and demolition, which puts them in an unending vicious cycle of poverty. Creation of new housing stock under different housing schemes has been the dominant strategy to address the housing shortage, but remains ineffectual on account of being a time consuming and capital intensive process. The other way to address the problem was to regularize and upgrade the existing housing stock occupied by poor groups. Over the years, state governments have introduced various tenurial measures to address this conundrum of housing and land. This article attempts a nuanced understanding of the effectiveness of these tenurial measures in augmenting and improving the urban poor housing scenario.
The paper uses a boundaries lens to investigate the role of finance and networks of credit in autoconstruction, with a focus on the work of market actors in navigating market–citizen and market–state boundaries, foregrounded against the relatively well-studied politics of state–citizen relations, in Delhi’s unathorised colonies
By IHR Team on December 28th 2020
As the housing finance ecosystem adapts to service low-income housing, targeted interventions that build trust and connect disparate actors in the housing supply chain can bring transformative change. In this Q&A, Institution Builder and India Housing Federation co-founder Manikandan K. P. points out the opportunities and insights that led to a successful housing finance intervention for households availing the beneficiary-led construction (BLC) component of India’s flagship public housing scheme, the PMAY.
By Manikandan KP on December 24th 2020
This case study outlines a collaboration between the Indian Housing Federation (IHF) and the Tamil Nadu Slum Clearance Board, the state level nodal agency for the Pradhan Mantri Awas Yojana – Urban (PMAY-U) in Tamil Nadu, to enhance the availability of micro housing finance for low-income communities through formal channels.