Microfinance for Housing (MFH)
sanjukta mishra, Professor, India, Member
Housing is a basic need of the human being. After eating and clothing, housing is the most important. Nowadays the construction a house is a difficult and costly task. So there are various financial institutions which help household to obtain a house.
The low segment housing sector in many developing countries is undeveloped and constrained by several factors such as:
- Access to housing finance,
- Fund mobilization,
- Stringent regulatory framework,
- Land title,
- Difficulties in procuring building materials,
- Finding skilled construction workers,
- Awareness and access to housing technologies.
Current pro-poor housing policies at national and sub-national level are found insufficient to meet the challenge. In India there is inadequate housing finance at lower segment resulting in a huge gap in demand and supply of housing credit.
A Microfinance for housing (MFH) programme has emerged as one of the sources for housing credit for low-income groups and it is growing steadily in India.