Housing finance and the urban poor
Smets, Peer
Housing finance and the urban poor - Jaipur Rawat Pub. 2004 - xxix,263p.
Contents
Preface xiii
Introduction xvii
1 The urban poor and housing finance in theoretical and historic perspective 1
1.1 Households 1
1.2 Poverty and livelihood strategies 3
1.3 Social capital 7
1.4 Housing and its financing strategies 11
1.5 Affordability, cost recovery and replicability issues in housing finance 15
1.6 Housing finance policy and its agents 22
1.7 Innovative housing finance schemes 25
Conclusion 31
2 Hyderabad 33
2.I Hyderabad in historic perspective 33
2.2 The land market 43
2.3 The housing market 49
2.4 The housing finance market 53
Conclusion 56
3 Financing strategies of the urban poor 59
3-1 The surveyed urban poor 60
3.2 The importance of a social network 62
3.3 livelihood: a matter of sourcing and budgeting 63
3.3-1 Credit and debt 64
3.3.2 Expenditures 67
3.4 Shelter and its meaning for slum dwellers 73
3.5 Shelter in slums and its financing 78
Conclusion 83
4 Slum dwellers, savings, gifts and their external credit relations for shelter 85
4.1 Sources of housing finance 86
4.2 Savings, gifts and credit relations of slum dwellers 89
4.2.1 Savings 89
4.2.2 Friends, neighbours and relatives 90
4.2.3 Moneylenders and pawnbrokers 92
4.2.4 Chit funds 99
4.2.5 Employers 100
4.2.6 Retirement benefit, life insurance 100
4.2.7 Colleagues 101
4.2.8 Finance corporations 101
4.2.9 Credit co-operatives 102
4.2.10 Gift, dowry 102
4.3 Networking as a necessity for access to credit 102
4.4 Finance for the urban poor's shelter 104
Conclusion 107
s Collective action: finance through chit funds 109
5.1 Chit funds introduced 110
5.2 Rotating savings and credit associations 111
5.3 Savings associations 120
5.4 Accumulating savings and credit associations 122
5.5 Collective action in chit funds 124
5.6 Chit funds and the poor 127
Conclusion 131
6 Public housing finance in housing schemes for the urban poor 133
6.1 Housing schemes for the Economically Weaker Sections and
their agencies 134
6.2 Housing schemes for the Economically Weaker Sections 135
6.2.1 Selection criteria 135
6.2.2 Implementation of housing schemes 136
6.2.3 House construction 137
6.2.4 Financial terms and conditions 137
6.3 Housing schemes and the urban poor 140
6.3.1 The selection of beneficiaries 140
6.3.2 Implementation in practice 141
6.3.3 Building activities 143
6.3.4 Housing finance in practice 146
6.4 Who helps who? 150
Conclusion 153
7 Private housing finance: reaching downmarket? 155
7.1 National Housing Bank 156
7.I.1 Promotion of housing finance corporations 156
7.1.2 Lending regulations 157
7.1.3 Refinancing facilities 159
7.1.4 Home Loan Account Scheme 159
7.2 Housing finance corporations 161
7.2.1 Housing Development and Finance Corporation and the newcomers 162
7.2.2 Lending in practice 163
7.2.3 Refinancing in practice 167
7.2.4 Home Loan Accounts and other deposit schemes 169
7.3 Small man first: successful or not? 173
Conclusion 176
8 NGOs, CBOs and housing finance 179
8.1 Housing finance, NGOs and CBOs in Hyderabad 179
8.2 NGOs, CBOs and housing finance 183
8.3 Scaling up and linking 185
8.4 Alliances with the public sector 189
8.5 Alliances with the private sector 191
8.6 Attempts to capture the dynamics of the actors involved 192
8.7 Down marketing housing finance through scaling up reconsidered 107
Conclusion 201
9 Housing finance and the urban poor in conclusion: future perspectives 203
9.1 Demand 203
9.1.1 Household, livelihood strategies: integrating building and financing strategies 204
9.1.2 Using sourcing and credit as livelihood strategy: terms and conditions 205
9.1.3 Incremental financing discussed 207
9.2 Supply 208
9.2.1 'Informal' sector 210
9.2.2 Semi-formal financial institutions 211
9·2·3 Public sector 212
9.2.4 Private 'formal' sector 212
9.2.5 NGOs and CBOs 213
9.3 Demand versus supply 213
9.4 Innovative housing- finance options 220
9.5 Future perspectives 223
Abbreviations 227
Literature 229
Appendix
1 Map of the surveyed slums and EWS housing schemes 251
2 Sources of housing finance used by interviewed slum dwellers in Hyderabad 253
Index 257
9788170338789
Biology
Low-income housing
India--Hyderabad
Economic assistance
Housing--Finance
363.50954 / SME
Housing finance and the urban poor - Jaipur Rawat Pub. 2004 - xxix,263p.
Contents
Preface xiii
Introduction xvii
1 The urban poor and housing finance in theoretical and historic perspective 1
1.1 Households 1
1.2 Poverty and livelihood strategies 3
1.3 Social capital 7
1.4 Housing and its financing strategies 11
1.5 Affordability, cost recovery and replicability issues in housing finance 15
1.6 Housing finance policy and its agents 22
1.7 Innovative housing finance schemes 25
Conclusion 31
2 Hyderabad 33
2.I Hyderabad in historic perspective 33
2.2 The land market 43
2.3 The housing market 49
2.4 The housing finance market 53
Conclusion 56
3 Financing strategies of the urban poor 59
3-1 The surveyed urban poor 60
3.2 The importance of a social network 62
3.3 livelihood: a matter of sourcing and budgeting 63
3.3-1 Credit and debt 64
3.3.2 Expenditures 67
3.4 Shelter and its meaning for slum dwellers 73
3.5 Shelter in slums and its financing 78
Conclusion 83
4 Slum dwellers, savings, gifts and their external credit relations for shelter 85
4.1 Sources of housing finance 86
4.2 Savings, gifts and credit relations of slum dwellers 89
4.2.1 Savings 89
4.2.2 Friends, neighbours and relatives 90
4.2.3 Moneylenders and pawnbrokers 92
4.2.4 Chit funds 99
4.2.5 Employers 100
4.2.6 Retirement benefit, life insurance 100
4.2.7 Colleagues 101
4.2.8 Finance corporations 101
4.2.9 Credit co-operatives 102
4.2.10 Gift, dowry 102
4.3 Networking as a necessity for access to credit 102
4.4 Finance for the urban poor's shelter 104
Conclusion 107
s Collective action: finance through chit funds 109
5.1 Chit funds introduced 110
5.2 Rotating savings and credit associations 111
5.3 Savings associations 120
5.4 Accumulating savings and credit associations 122
5.5 Collective action in chit funds 124
5.6 Chit funds and the poor 127
Conclusion 131
6 Public housing finance in housing schemes for the urban poor 133
6.1 Housing schemes for the Economically Weaker Sections and
their agencies 134
6.2 Housing schemes for the Economically Weaker Sections 135
6.2.1 Selection criteria 135
6.2.2 Implementation of housing schemes 136
6.2.3 House construction 137
6.2.4 Financial terms and conditions 137
6.3 Housing schemes and the urban poor 140
6.3.1 The selection of beneficiaries 140
6.3.2 Implementation in practice 141
6.3.3 Building activities 143
6.3.4 Housing finance in practice 146
6.4 Who helps who? 150
Conclusion 153
7 Private housing finance: reaching downmarket? 155
7.1 National Housing Bank 156
7.I.1 Promotion of housing finance corporations 156
7.1.2 Lending regulations 157
7.1.3 Refinancing facilities 159
7.1.4 Home Loan Account Scheme 159
7.2 Housing finance corporations 161
7.2.1 Housing Development and Finance Corporation and the newcomers 162
7.2.2 Lending in practice 163
7.2.3 Refinancing in practice 167
7.2.4 Home Loan Accounts and other deposit schemes 169
7.3 Small man first: successful or not? 173
Conclusion 176
8 NGOs, CBOs and housing finance 179
8.1 Housing finance, NGOs and CBOs in Hyderabad 179
8.2 NGOs, CBOs and housing finance 183
8.3 Scaling up and linking 185
8.4 Alliances with the public sector 189
8.5 Alliances with the private sector 191
8.6 Attempts to capture the dynamics of the actors involved 192
8.7 Down marketing housing finance through scaling up reconsidered 107
Conclusion 201
9 Housing finance and the urban poor in conclusion: future perspectives 203
9.1 Demand 203
9.1.1 Household, livelihood strategies: integrating building and financing strategies 204
9.1.2 Using sourcing and credit as livelihood strategy: terms and conditions 205
9.1.3 Incremental financing discussed 207
9.2 Supply 208
9.2.1 'Informal' sector 210
9.2.2 Semi-formal financial institutions 211
9·2·3 Public sector 212
9.2.4 Private 'formal' sector 212
9.2.5 NGOs and CBOs 213
9.3 Demand versus supply 213
9.4 Innovative housing- finance options 220
9.5 Future perspectives 223
Abbreviations 227
Literature 229
Appendix
1 Map of the surveyed slums and EWS housing schemes 251
2 Sources of housing finance used by interviewed slum dwellers in Hyderabad 253
Index 257
9788170338789
Biology
Low-income housing
India--Hyderabad
Economic assistance
Housing--Finance
363.50954 / SME