The global cost of disasters is growing: The economic burden of disasters is intensifying. While the direct costs of disasters averaged $70–80 billion a year between 1970 and 2000, between 2001 and 2020 these annual costs grew significantly to $180–200 billion. But the real cost is far higher. Disaster costs …
PNB Housing Finance has raised Rs 500 crore by issuing bonds to World Bank arm IFC for funding its green residential projects. "PNB Housing Finance has issued secured fixed rate NCDs to International Finance Corporation (IFC) to raise Rs 500 crore for funding green residential projects", the company said in …
Every policy relies on explicit or implicit assumptions about how people make choices. Those assumptions typically rest on an idealized model of how people think, rather than an understanding of how everyday thinking actually works. This year’s World Development Report argues that a more realistic account of decision-making and behavior …
The housing shortage in the urban areas has touched 18.78 million units, where 95% of the shortage is in the economically weaker section and low income group, a report by the National Housing Bank (NHB) said. The Report on Trend and Progress of Housing in India - 2013 said the …
The Ministry of Housing and Urban Poverty Alleviation has invited comments/feedback on this draft 'Model State Affordable Housing Policy for Urban Areas ’by October 16, 2013. It aims to create an enabling environment for providing “affordable housing for all” and also promote Public Private People Participation (PPPP) for addressing the …
The World Bank has signed an agreement with the Indian government to provide a USD 100 million loan to help low-income families secure housing loans. "The Loan and Project Agreements for World Bank (IDA) assistance of USD 100 million for low-income housing finance project were signed between Government of India/National …
The paper provides a review of the literature that links housing, housing finance, and economic development. The housing sector may support poverty reduction and inclusive growth in two general ways. First, housing construction contributes to economic output, creates employment, and generates a demand for materials and related services. Second, improved …
Bank Loans To Applicants Have Not Gone Beyond 20% So Far The state government’s ambitious move to scale up the affordable housing project from 1.25 lakh homes to five lakh houses has boomerang, putting the government in a fix. Slated to be one of the biggest housing schemes in the …
RBI has allowed companies to raise up to $1 bn but hedging of costs could make this unattractive for borrowers Though the Reserve Bank of India has allowed real estate developers and housing finance companies to raise up to $1 billion (Rs 5,400 crore) via external commercial borrowing (ECB), hedging …
The government is considering a proposal to allow debt restructuring for real estate projects that face delays due to sovereign clearances. It is also considering creating a sub-category of commercial real estate-housing to allow an extended repayment period to developers. As per the current policy, any loan given to developers …
New Delhi Attributing the housing boom to easy availability of loans, new housing and urban poverty alleviation minister Ajay Maken on Wednesday said that the housing bubble could burst in the absence of proper planning. As per the latest figure, he said, the number of vacant houses in the country …
New Delhi The special extra-commercial borrowings (ECB) window for low-cost housing projects will be subject to a cap of $1 billion to start with. The detailed norms for ECB access to this segment, which is facing a funds crunch, are likely to be announced soon, say government sources. In August, …
The development of rural housing in a manner that results in adequate, quality shelter for inhabitants of Mahatma Gandhi’s “real India” is a challenge before the nation. What are the issues confronting rural housing development in India? The litany of its woes is endless. At first impression, rural housing is …
This paper describes the nationwide “slum” upgrading (Baan Mankong) programme in Thailand, which supports community organizations to find their own solutions to getting land for housing. Between 2003 and 2008, the programme supported 512 upgrading initiatives involving 1,010 communities. Community organizations form their own savings groups and draw on soft …
Housing finance options for low-salary earners and the self-employed poor in India are severely limited and have significantly affected their housing conditions. A recent session of the governing council of UN-HABITAT focussed on this theme and emphasised the need to expand financing options. The Eleventh Five Year plan estimates the …
A. Srivathsan A drastic intervention that combines incentives, subsidies and regulation is required to address the housing crisis. The din of real estate boom in India drowns the stark realities of housing crisis that looms large. About 1.5 million houses are built every year. Home ownership in urban areas has …
This paper tracks the organizational and financial history of the Integrated Village Development Project (IVDP) and the self-help group (SHG) network it supports in Tamil Nadu, India. It describes how the network is connecting and negotiating with a variety of formal sector institutions, paving the way towards aligning the "informal" …
Even after concerted efforts made by central and state governments, housing shortage has assumed frightening proportions. It is estimated that there is a housing shortage of nearly 25 million dwelling units affecting 67 million households. Most of this housing shortage pertains to low income families. Deploying the political economy approach, …
Low-Cost Housing in Developing Countries is a simple, utilitarian and extremely readable book. There is little new in the discussions on appropriate technology, which includes discussions on the economic constraints of the developing world, setting up of housing research priorities, and a well-written section on South-South cooperation in housing. Notwithstanding …
