HOUSING BOARDS IN INDIA

• Housing Board of the various States of India have been founded for the expansion of the property market and development of well planned and ideally located colony.

• With an aim to carry out well organized as well as aesthetically designed development programs all over the nation, these housing boards were incorporated by the Government of different states after hard work and strenuous efforts of many months.

• Housing Board of Indian States is responsible for optimum utilization of the available resources and also for further progressing them towards urbanization.

• In India now days housing loan / loans are available at very convenient interest rates and this has been a major factor in the escalating growth rate of housing demands. The greater demand for houses thus led to the formation of Housing Board to cater to the varied demands of different people in accordance with their budget, comfort and choice.

RURAL HOUSING BOARDS

• With a view to solve the rural housing problems, the states have established RURAL HOUSING BOARDS and such boards shall build houses to cover generally the rural requirements with particular attention to the needs of schedule castes, schedule tribes and other weaker sections of the society.

• The rural housing policy shall be based on the following three principles: ECONOMIC DEVELOPMENT It should be seen that there is all round economic development of the rural areas which will

help the villagers to maintain their houses and to repay the loans taken by them without much hardship.

IMPROVEMENT The existing unfit rural houses should either be improved or reconstructed and for this

purpose, the improvement scheme should be spread over a long period, say 10 to 15 years. SELF HELP The element of self help shall be added to bring down the cost of housing unit. However

adequate technical guidance should be made available.

GRUH

• The Gujarat rural housing finance corporation ltd. was incorporated under the companies act in July 1986 and has been promoted by housing development finance corporation. It is also recognized by the national housing bank as an eligible housing finance company.

• The GRUH provides housing finance to individuals for constructing or acquiring or upgrading developing units in towns and villages of Gujarat.

• It also provides assistance to corporate bodies for construction of staff quarters and employee owned houses.

• It has evolved its own mortgage underwriting standards which are compatible with the nature of the rural economy.

• It has enabled creation of about 15000 dwelling units.• Over 5o percent of the cumulative loan approvals of GRUH have been extended to

the individuals with monthly family income lower than Rs. 2500.

HOUSING AUTHORITIES IN INDIA

• Housing Authorities in India are solely responsible for the rapid development of India real estate market . Formed under the Ministry of Urban Development, there are regional housing authorities at state and city level with pre-determined areas under jurisdiction.

• There are Metropolitan development agencies active in the metro cities like Delhi, Mumbai, Kolkata, Chennai and urban cities like Bangalore, Hyderabad, Pune, Noida, Gurgaon, Ghaziabad, etc. These undertake the mammoth task of providing adequate infrastructure facilities to the masses.

• Any housing authority in India has to draft a development plan called Master Plan for their city that declares the development plans and objectives set forth by the regional housing authority. The implementation of these plans in an efficient and judicious way has enable the regional housing authorities in developing entirely global cities like Noida , Navi Mumbai etc.

• Special housing schemes are rendered for the Lower income groups (LIG), economically weaker sections (EWS) and the middle income groups (MIG).

EXAMPLES OF REGIONAL HOUSING AUTHORITIES IN INDIA

• Ministry of Urban Development In the federal structure of the Indian polity, the matters pertaining to the housing

and urban development have been assigned by the Constitution of India to the State Governments.

The Constitutions (74th Amendment) Act have further delegated many of these functions to the urban local bodies. The constitutional and legal authority of the Govt. of India is limited only to Delhi and other Union Territories and to the subject which State Legislatures authorize the Union Parliament to legislate.

• Delhi Development Authority The Delhi Development Authority was created in 1957 under the provisions of the

Delhi Development Act "to promote and secure the development of Delhi ".DDA has played a vital role in the orderly-yet-rapid development of Delhi. The city has become the residence of choice for more than 11 million people and this number continues to increase.

• Mumbai Metropolitan Region Development Authority Mumbai Metropolitan Region Development Authority is responsible for the development of

Mumbai Metropolitan Region (MMR) which comprises a Megacity of Mumbai - the capital of Maharashtra State - and rapidly growing hinterland. MMRDA was set up on the 26th January, 1975 under the Mumbai Metropolitan Region Development Authority Act, 1974 Government of Maharashtra as an apex body for planning and co-ordination of development activities in the Region.

• Chennai Metropolitan Development Authority CMDA is a (Town) Planning Authority constituted under the Tamil Nadu Town and Country

Planning Act 1971.It is headed presently by the Humble Minister for Housing as its Chairman. It prepares development plans viz. Master Plan/ Detailed Development Plans for spatial development of Chennai Metropolitan Area, with a public consultation process. It identifies, formulates and implements projects including those envisaged in the plans. It also regulates developmental activity in accordance with the rules. It co-ordinates and monitors projects executed through Government Agencies, Non-Governmental Organizations and Community based Organizations.

• Kolkata Metropolitan Development Authority Kolkata Metropolitan Development Authority (KMA), is the statutory planning and

development authority for the Kolkata Metropolitan Area (KMA) under provision of the West Bengal Town and Country (Planning & Development) Act, 1979. Initially formed under a Presidential Ordinance in 1970, it is today the agency for planning, promoting and developing the KMA.

HUDCO - Housing And Urban Development Corporation Ltd

• HUDCO - Housing And Urban Development Corporation Ltd was incorporated on 25th April 1970. HUDCO India was formed to assist various agencies and authorities in upgrading the housing conditions in the country.

• Special emphasis was laid on the development of housing facilities or HUDCO Niwas Yojana for the lower income group (LIG) and the economically weaker sections (EWS) of the society.

• Starting with an initial equity base of Rs. 2 crores, HUDCO India has a net worth of Rs. 3977 crores today. HUDCO Inc primarily aims to provide financing for housing developments. HUDCO Financial Services are the task of HUDCO Bank that has mobilized finances from: Financing institutions like LIC, GIC and other banking institutions

• International assistance from KFW, JBIC, ADB, USAID etc.• Market borrowings through debentures, taxable and tax-free bonds• Public deposits

• HUDCO has been associated with not just housing development but the overall infrastructure development assistance.

The activity areas of HUDCO include:• Urban housing• Rural housing• Staff rental housing• Repairs and renewal• Shelter and sanitation facilities for footpath dwellers• Workingwomen ownership condominium housing• Housing through private builders/ joint sector• Individual HUDCO housing loans and HUDCO home loan for construction and

renovation through 'HUDCO Niwas'• Land acquisition• Valmiki Ambedkar Awas Yojana (VAMBAY)• Jawahar Lal Nehru National Urban Renewal Mission (JLNNURM)• FINANCIAL SERVICES HUDCO Niwas - HUDCO home loans by HUDCO Bank Financing of Urban Development Projects and Industrial Products Projects by HUDCO

Bank.• BUILDING TECHNOLOGY Building centers for technology transfer at grass-roots Building materials industries

HOUSING FINANCE AGENCIES

• HDFC The housing development finance corporation is another notable and premier

housing finance organization of government carrying on appreciable work in the area of housing finance.

It was established in 1976 and today has become one of the major channeling institution which directs the public savings and housing finance to building of housing.

The HDFC has enabled more and more people to purchase houses by offering them financial and institutional supports.

• CIDCO The government of Maharashtra accepted the proposal of the new Bombay and

other areas and accordingly formed city and industrial development corporation under the Indian companies act in march 1970.

The master plan of new Bombay was developed by CIDCO.

The principal activities of CIDCO can be enumerated as:• To build as many houses and community infrastructure to meet the day to day

need of the population.• To develop land and provide the required physical infrastructure such as roads,

drainage, water supply, sewerage, street lighting, landscaping etc.• To make available developed plots at reasonable prices for people to construct.• To promote activities which will evolve a sound economic base for a self

sustained growth.• MUNICIPAL CORPORATION OF INDIA• Municipal Corporation of India is a state government formed department

that works for the development of a city, which has a population of more than twenty thousand. The growing population and urbanization in various cities of India were in need of a local governing body that can work for providing necessary community services like health centers, educational institutes and matters related to housing and property tax.

• Municipal Corporation in India formed under the Corporations Act of 1835 of Panchayati Raj system mainly deals in providing essential services in every small town as well as village of a district/city.