A Study on the Attitute of Borrowers Towards Housing Finance in Sivakasi

Abstract

In highly industrialized economies, the workers’ immigration form one city (or country) to another city (or country) is a common phenomenon. In those societies, people prefer to lease a house instead by its acquisition on ownership basis. In pure capitalistic societies, housing finance is used as a mode of long-term investment. In centrally controlled and planned economies, the housing finance is used for planning and development purposes. In the interest-free Islamic economies the housing finance gives an opportunity to the investors and financial institutions to participate in the rental income and capital gains from the properties. It is noteworthy that housing finance is not simply a matter of funds transfer form lender to borrower; it has multi dimensional aspects. No doubt, it has financial importance and the housing finance institutions test the profitability and feasibility of every agreement for housing finance. This study is made an attempt to analyse the profile of the borrowers of Housing finance and their opinion towards housing finance offered by the commercial banks.