India Mortgage Industry
India Mortgage industry until recently was an unorganized sector. But today organized mortgage sector is witnessing steady growth. It is estimated to be US $ 18 billion industry. Huge real estate requirements and its subsequent development has fueled its growth.
- Affordability and
- Accessibility.
Housing finance gives a measure of the socio-economic status of people. It is regarded as a critical sector in terms of policy initiatives and interventions. Financial allocations in the 5 Year Plans and fiscal measures related to housing has been taken and implemented successfully.
To help it grow and fulfill its huge requirements India Mortgage industry needs indirect government participation, as a guardian and facilitator. Private funds and even FDI should be encouraged to see 'India Mortgage' industry grow further. Overall revamping of land laws, rental laws, fast mutation and registration process along with setting up of credit rating organization and mortgage insurance will only help India in realizing its housing dreams. This will accelerate organized growth of 'India Mortgage' market and at the same time will help reach all sections of Indian society.
Last Updated on 5/26/2011
India Mortgage