The issue of extending credit to low-income individuals and impoverished communities who are considered non-bankable is a significant global concern, especially in developing countries. This paper examines the challenges faced by the informal sector, which lacks reliable employment records and monthly income, in securing loans and mortgages due to limited access to land and tenure. The high interest rates offered by local money lenders, ranging from 36% to 20%, pose a burden on the target demographic, requiring low-interest funds and housing cost subsidies. Implementing novel construction methodologies is crucial for cost efficiency. However, the successful adoption of emerging technologies presents obstacles related to awareness, appreciation, and effective implementation. Technology transfer plays a vital role in training personnel, producing components, and providing guidance for the utilization of emerging technologies in housing. The impact of the Indian Building Centre movement is documented, emphasizing the integration of inclusionary measures into local codes, specifications, and procedures to support affordable housing. Government housing policies offer a framework for acquiring resources such as land, finance, materials, and technologies. Reforms focus on enhancing financial stability, expediting approval procedures, and simplifying land and property registration processes. Housing for All programs address the needs of different socio-economic strata through Luxury, Premium, and Affordable Housing options. The effective implementation of Early Warning Systems and National Implementation Guidelines requires financial incentives like subsidies, affordable finance, and access to cost-effective technologies. Social housing allocation is crucial for the lower socio-economic strata.
Aspects and prospective of low-cost housing
Abstract
The issue of extending credit to low-income individuals and impoverished communities who are considered non-bankable is a significant global concern, especially in developing countries. This paper examines the challenges faced by the informal sector, which lacks reliable employment records and monthly income, in securing loans and mortgages due to limited access to land and tenure. The high interest rates offered by local money lenders, ranging from 36% to 20%, pose a burden on the target demographic, requiring low-interest funds and housing cost subsidies. Implementing novel construction methodologies is crucial for cost efficiency. However, the successful adoption of emerging technologies presents obstacles related to awareness, appreciation, and effective implementation. Technology transfer plays a vital role in training personnel, producing components, and providing guidance for the utilization of emerging technologies in housing. The impact of the Indian Building Centre movement is documented, emphasizing the integration of inclusionary measures into local codes, specifications, and procedures to support affordable housing. Government housing policies offer a framework for acquiring resources such as land, finance, materials, and technologies. Reforms focus on enhancing financial stability, expediting approval procedures, and simplifying land and property registration processes. Housing for All programs address the needs of different socio-economic strata through Luxury, Premium, and Affordable Housing options. The effective implementation of Early Warning Systems and National Implementation Guidelines requires financial incentives like subsidies, affordable finance, and access to cost-effective technologies. Social housing allocation is crucial for the lower socio-economic strata.
Introduction
The issue of extending credit to individuals who are considered non-bankable due to their low-income or impoverished status is a topic of worldwide significance, particularly in developing countries [1]. The primary concerns revolve around the informal sector, which is marked by the absence of assured monthly remuneration and employment records. The lack of access to land or tenure poses a significant challenge for individuals seeking to secure mortgages for loan purposes [2]. The prevailing interest rates offered by local money lenders in the area are considered to be excessively high, with a rate of 36%. The range of interest rates applied by home micro financing institutions is between 18% and 20% [3]. The target demographic necessitates access to funds with low interest rates, coupled with a housing cost subsidy. The incorporation of novel and non-traditional construction methodologies is crucial in attaining cost efficiency [4]. The development and successful implementation of emerging technologies pose a notable obstacle in terms of raising awareness, fostering appreciation, and establishing effective modes of implementation. The significance of technology transfer in relation to emerging technologies, training of personnel for their utilisation, production of components, and provision of guidance is of utmost importance. The observed impact of the Indian Building Centre movement has been documented [5]. The integration of inclusionary measures into codes, specifications, and standard operating procedures at the local level can provide advantageous supportive elements [6].
The implementation of Housing Policies by the Government provides a suitable framework for the acquisition of diverse resources, including land, finance, materials, and technologies. The subject matter under consideration encompasses legal and regulatory aspects related to land acquisition, building regulations, development control guidelines, rental laws, and slum rehabilitation issues governed by SRA. The reforms pertain to the enhancement of the financial stability of housing agencies, acceleration of approval procedures, and simplification of land and property registration processes [7]. The Housing for All programme is designed to cater to the housing requirements of various socio-economic strata, such as the High Income Group, Middle Income Group, Low Income Group, and Economically Weaker Section of society (Above and Below Poverty line NIG). The observation has been made that the housing requirements of the High Income Group (HIG) and Middle Income Group (MIG) can be met through Luxury and Premium housing, respectively [8]. The observation has been made that individuals belonging to the Low Income Group (LIG) have a need for Affordable Housing in order to fulfil their housing needs. The effective execution of Early Warning Systems (EWS) and National Implementation Guidelines (NIG) necessitates the provision of financial incentives by the government, such as cash subsidies, subsidised land allocation, affordable housing finance, and access to cost-effective and long-lasting technologies. The lower stratum of the socioeconomic hierarchy encompasses a substantial demographic cohort that necessitates sufficient allocation of social housing [9].
The present study notes that the rise in living expenses, as measured by the WPI and CPI, in emerging economies has resulted in inflationary patterns. Additionally, it has been observed that the expenses linked with the construction of buildings are escalating at a pace that surpasses the inflation rate by 50%. The reason for this can be attributed to the exclusion of 275 building materials and components from the WPI/CPI [10].
Aspects for Low-cost housing
A significant trend worth noting is the increasing disparity between housing expenses and the financial capacity of consumers, as evidenced by nominal income growth. As a result, there is a critical need to incorporate housing technologies that provide economical and durable solutions. Various cost-effective technologies have been identified as substitutes for conventional options in diverse areas of construction, leading to cost reductions that vary from 15% to 40%. The focus of this study is on the effective implementation of technology transfer programmes for housing purposes [11]. The exploration of Hire Purchase ownership structures presents a promising opportunity for the expansion of housing options. This could be facilitated by the provision of Affordable Home loan options. The research findings indicate that an initial payment of 20 to 25% of the total cost would be required from customers. In various developed countries, rental housing options may present a feasible and attractive alternative in situations where obtaining affordable housing is difficult [12]. Recent studies have observed that over 50% of the urban population resides in rental housing. There exists a pressing necessity to advocate for the implementation of institutionalised Public Rental Housing, which is separate from Government or Corporate Rental Housing that is specifically designed for employees. The justification for enacting Rent Control Legislation is also deemed essential for this objective. The tenements and chawls system in India and Council Housing in the UK are instances of this particular phenomenon [13]. The effective maintenance and durability of a property can be achieved through the implementation of a well-executed leave and licence system, in conjunction with periodic rent evaluations.
In the quest for substantial advancements in the field of housing delivery, it has been noted that the conventional method of on-site construction is associated with a particular pace of delivery, usually lasting between 24 to 36 months [14]. The increasing scarcity of land in urban regions has led to a surge in the adoption of prefabricated construction techniques, which aim to accelerate the building process while upholding superior levels of quality and cost-effectiveness. The integration of mechanisation in construction involves the utilisation of contemporary tools and equipment to carry out construction operations across diverse domains. The various components include RMC, plastering, and painting. The incorporation of pre-manufactured doors, windows, and toilet assembly units in the construction process has been found to yield benefits in terms of time management and productivity [15]. The current research delves into the examination of the transfer of rental properties that were previously owned by the public to social housing organisations in the Netherlands and South Africa. The study aims to determine the effects of this transfer on the creation of sustainable human settlements. In both countries, social housing is primarily a rental housing alternative that is subsidised and designed for households with low to moderate incomes [16-18]. The housing units have been strategically positioned to provide a varied selection of housing options. The present working paper explores the complexities of eviction practises, including acquisition and expropriation, in the context of displacement caused by urban development. The paper's analysis of ten case studies reveals the implementation of one or more of the practises being considered in each case. The study recognises the difficulties involved in differentiating between the notions of eviction, acquisition, and expropriation, and situating their interconnections within a given context, with or without appropriate consultation and compensation [19].
The manuscript is organised into three distinct sections. The present study aims to investigate the development of Singapore's public housing programme, spanning from its inception to the contemporary era. The research will scrutinise the fundamental policy objectives and primary policy tools employed in the programme. The current investigation aims to analyse the challenges that have arisen in the recent timeframe and the corresponding alterations in policies that were implemented [20]. The study's final section outlines various policy alternatives and assesses their feasibility in the Singaporean context. The following document serves as a crucial policy framework in the advancement of housing and integrated habitat. The role of the government in housing development has undergone a shift from that of a provider to that of a facilitator and enabler [21]. The current trend involves a participatory approach that engages multiple stakeholders, including individuals, private and public sectors, community and cooperative sectors, corporate entities, and non-governmental organisations. The policy guidelines regarding the procurement of resources, including land, finance, building materials, and technologies, have been discussed. This document presents a basic summary of the decennial census data related to residential units in urban and rural areas. The objective of this study is to evaluate the standard of housing with regards to the type of materials utilised, availability of road networks, water supply, sanitation facilities, and electricity. The research involves an examination of demographic variables, alongside the transition in transport mode from rural to urban regions, and diverse socio-economic metrics [22].
Policies for Low-cost housing
The phenomenon of slums, such as Jhuggi Jhompries and Zoparpattis, has arisen as a result of swift urbanisation and economic growth. The observed phenomenon can be explained by the complex interplay between rural push and urban pull factors. This has led to the migration of individuals and the subsequent formation of settlements in a spontaneous manner. In densely populated urban regions such as Delhi and Mumbai, the magnitude of the problem is significant [23]. The report authored by Dr. presents significant findings that warrant further investigation. The findings obtained and scrutinised indicate possible ramifications for the research domain. The comprehensive overview of the condition of urban slums across all states is provided by the findings of the Pranab Sen Committee on Slum Census of 2011 [24-25]. The findings of the report reveal a noteworthy surge in the quantity of urban slums, with a rise from 28 million in 1981 to 62 million in 2001, and a subsequent increase to 93 million in 2011 [26-28]. The report serves as a valuable contribution towards the formulation of effective strategies to tackle the problem of slum settlements in various states and urban regions [29]. The State Affordable Housing Policy is an initiative with a progressive approach that seeks to tackle the issue of housing scarcity, with a specific focus on catering to the housing needs of economically weaker sections and low-income groups [30-32]. The policy is centred on the development of cost-effective strategies to construct affordable housing [33]. The policy has been formulated with the aim of promoting investment in the field of housing and urban development, with a view to finding effective solutions to the challenges faced in these areas [34]
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- Citation du texte
- R. C. Nivita (Auteur), 2022, Aspects and Prospective of Low-cost Housing. Innovations in Construction, Munich, GRIN Verlag, https://www.grin.com/document/1367900
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