Ranking of Decision Making Criteria for Availing Housing Loan for Affordable Housing among Self-Help Group Women

Main Article Content

PRAVEEN PAUL JEYAPAUL, JAYA CHRISTA S.T.

Abstract

Owning a residential house is considered as an essential requirement by any family across the globe. This gives a sense of security to the whole family especially women and children. However, owning a house may remain just a dream for many owing to the high costs associated with either construction of one or buying it. The government may not be in a position to provide free housing for every family that cannot afford a house. However, it may create an ecosystem where the underprivileged sections of the society may get loans at a cheaper rate so that they may build their own homes. Thus, housing finance is essential to the functioning of housing markets. The purpose of this research is to empirically rank the imperative factors that are considered by women housing loan borrowers attached to self-help groups (SHGs) using Analytical Hierarchy Process (AHP). Data was collected from 195 women with SHGs from Sivakasi taluk in Virudhunagar District of Tamilnadu state of India. Criteria such as Rate of interest for housing loan, Documentation Procedure involved, Processing Speed, Initial Down payment, Processing fee, Repayment Period of loan, Friendly Environment in financial institution branch were considered. It was found that Rate if interest, Friendly environment and Processing speed were the top three factors considered by these women when deciding on an institution for availing housing loan. Implications of the research are that institutions offering affordable housing loan need to focus on the above mentioned factors to better serve the target audience for providing housing loans and realise the dream of housing for all in the country.

Article Details

How to Cite
PRAVEEN PAUL JEYAPAUL, JAYA CHRISTA S.T. (2024). Ranking of Decision Making Criteria for Availing Housing Loan for Affordable Housing among Self-Help Group Women. European Economic Letters (EEL), 14(1), 1029–1037. https://doi.org/10.52783/eel.v14i1.1121
Section
Articles