Housing and Finance in Developing Countries

By Kavita Datta; Gareth A. Jones | Go to book overview

7

BETTER A ‘HUT’ ON THE GROUND THAN A CASTLE IN THE AIR

Formal and informal housing finance for the urban poor in India 1

Robert-Jan BakenandPeer Smets

Institute for Housing Studies, Rotterdam and Vrije Universiteit, Amsterdam, The Netherlands


INTRODUCTION

This chapter deals with the formal and informal housing finance markets in two Indian cities, Visakhapatnam and Hyderabad, in the state of Andhra Pradesh. The chapter concentrates on how formal and informal housing finance relate to the housing conditions of the ‘economically weaker section’ (EWS) households, defined as having an income of less than Rs 1,250 per month (US$ 41), which is regarded as barely sufficient to cover basic needs. 2 This group represented approximately 26.1 per cent of the urban population in 1987-8 (Dandekar et al. 1993:19). Our aim is to examine to what extent each finance market is compatible with the survival strategies of the low-income households by introducing the concept of the ‘finance gap’ and the implications for household debt and displacement. We argue that the form of house construction and the financial arrangements which are part of public housing programmes do not match household survival strategies and that the terms and conditions of informal housing finance are generally more adequate.

The material for this chapter was gathered through two independent research projects conducted in 1993-4. The first was on land and housing market development in Vijayawada and Visakhapatnam. Material from Visakhapatnam, one of India’s fastest-growing cities with a growth rate of more than 60 per cent per decade and a 1991 population of 1.05 million, is used in this chapter to illustrate formal housing finance. The project included a survey of sixty-six settlements, selected on the basis of location, method of land delivery, age, and level of consolidation, as well as the form of government intervention (sixteen

-101-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
Housing and Finance in Developing Countries
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 270

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.