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Showing posts from November, 2009

Tata Housing - Who'll finance 'affordable' housing in India?

Tata Housing - Who'll finance 'affordable' housing in India?

Brotin Banerjee is happy. He has been able to sell a fourth of the 1,500 apartments of his affordable housing project in Boisar, about 100 km from Mumbai, to people who he describes as belonging to the “informal sector”. These are buyers, the managing director of Tata Housing explains, who don’t have a bank account and, therefore, wouldn’t qualify for a bank loan. But thanks to Micro Housing Finance Corporation (MHFC), a microfinance company, they can now hope to own a house.

Tata Housing’s efforts at helping less privileged sections of society are commendable, but after a point it won’t be able to do much for the simple reason that there aren’t going to be enough lenders to give loans to these prospective home buyers. So, the shortage of homes in the “economically weaker segments and low-income groups” — estimated by Ernst and Young at some 26 million by 2012 — could be even bigger. Banks are doing their bit but t…

Affordable housing for the masses - India

Affordable housing for the masses

Director
Red Fort Capital
The new age real estate developer has envisioned a dream — a dream of housing every family in the country. ‘Affordable housing’ is a term that posses the potential to transform this dream, also harboured by millions of households, into reality. Affordable housing includes value housing, which is the need of every middle class family, as well as low income housing, where the most significant need of India lies.
Over a billion people around the world live in appalling conditions. In India alone, about 100 million people live in slums and slum-like conditions without adequate basic facilities. These numbers are expected to touch 200 million by 2020. If the current trend continues, the number of urban dwellers will reach almost 5 billion by 2030. In India, the urban population is expected to reach 576 million in 2030 from the current 328 million. With this rapid urbanisation, one of the biggest challenges will be providing affordable…

Billions for low-cost housing - Thailand

Billions earmarked for low-cost housing - Bangkok Thailand

A Bt3-million fund has been pledged to fund housing projects for low-income earners in a two-year project that runs until next year, Social Development and Human Security Minister Issara Somchai said yesterday.

A request for a Bt1-billion should be tabled and approved at the Cabinet meeting today, said Prime Minister Abhisit Vejjajiva. He was delivering an opening statement at a Bangkok seminar yesterday at the United Nations headquarters. He said Thailand would be part of the UN project aimed at providing low-cost homes for 100 million slum dwellers worldwide by the year 2020.Somchai said another Bt2 billion would be mobilised from the Thai Khemkhaeng fund. The entire Bt3-billion budget will be used to give out as soft loans to people living in 1,000 slums both inside and outside Bangkok. The government has provided such loans to 86,000 families, out of a total of 200,000. Somboon Sing-ging, an advocate for low-cost housing pr…

Shoddy houses for the poor

Sexwale takes aim at housing corruption

HUMAN Settlements Minister Tokyo Sexwale is “sharpening his pencil” to root out corrupt contractors and officials who build shoddy houses for the poor.
A National Housing Audit headed by the Special Investigations Unit had been instituted to find the culprits who had caused “chronic” and “massive” problems in housing, he told journalists in Pretoria.
“The audit deals with issues where the law had been broken.”
Sexwale said recent visits to all provinces, where he heard the concerns of those on the receiving end of low cost housing, and of those on waiting lists, had highlighted the need for an audit.
In the Northern and Eastern Cape alone 3000 houses would have to be destroyed as a result of “shoddy” and corrupt workmanship.
“In response to the situation we face, we have decided we need to take a rigorous look at housing delivery, from top to bottom.
“We need to focus on issues we know are specific impediments: fraud, delays, corruption, absentee contr…

Kenyans need more and quality low cost housing

01 November 2009


Kenyans need more and quality low cost housing

Kenya faces a serious shortage of quality houses for an increasing population that is expected to hit 62 million by 2030. According to the latest Kenya Economic Report, over 60 per cent of this population will be living in urban areas.“Current estimates indicate that the country needs to build up to 150,000 housing units annually... However, only 23 per cent of this demand is being met.”The shortfall, the report adds, is more acute among low-income households whose present demand is about 48 per cent of all new housing required.New houses“Currently, more than 80 per cent of new houses are for high and upper middle-income earners. “However, because more than 60 per cent of the Kenyan population is younger than 25 years, it is clear that the demand for adequate housing will rise steadily as those aged 20 and below reach adulthood and start family life,” the report says.It identifies increasing the volume of funding towards co…

Kenyans need more and quality low cost housing

Kenyans need more and quality low cost housing


Kenya faces a serious shortage of quality houses for an increasing population that is expected to hit 62 million by 2030. According to the latest Kenya Economic Report, over 60 per cent of this population will be living in urban areas.
“Current estimates indicate that the country needs to build up to 150,000 housing units annually... However, only 23 per cent of this demand is being met.”
The shortfall, the report adds, is more acute among low-income households whose present demand is about 48 per cent of all new housing required.
New houses
“Currently, more than 80 per cent of new houses are for high and upper middle-income earners. “However, because more than 60 per cent of the Kenyan population is younger than 25 years, it is clear that the demand for adequate housing will rise steadily as those aged 20 and below reach adulthood and start family life,” the report says.
It identifies increasing the volume of funding towards construction of lo…