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- Title
ROSCAs as a source of housing finance for the urban poor: an analysis of self-help practices from Hyderabad, India.
- Authors
Smets, Peer
- Abstract
For the urban poor, housing finance from ROSCAs (rotating savings and credit association) is an alternative to conventional housing finance, which requires conventional collateral. Contrary to conventional housing finance, the creditworthiness of ROSCA participants is determined largely by social factors. Moreover, a link exists between ROSCA participation and house (or shack) ownership. Apart from obtaining short- to medium-term ROSCA finance, participation offers security for obtaining finance from, for example, moneylenders. Notably, auction ROSCAs offer cheaper housing finance than Indian housing finance corporations. The middle classes mainly use this finance, but the poor tend to obtain more expensive finance for incremental building.
- Subjects
HOUSING finance; REAL estate financing; HOME ownership; HOUSE buying; HOUSING finance laws; HOUSING market
- Publication
Community Development Journal, 2000, Vol 35, Issue 1, p16
- ISSN
0010-3802
- Publication type
Article
- DOI
10.1093/cdj/35.1.16