Aspects and Prospective of Low-cost Housing. Innovations in Construction (PDF)

Research Paper (postgraduate) from the year 2022 in the subject Engineering - Civil Engineering, grade: A, , language: English, 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.