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REPCO FOUNDATION FOR MICRO CREDIT FORMAL & INFORMAL LINKAGES IN INDIAN HOUSING SECTOR Presentation by G. Manickasundaram Project Director GROWTH OF THE INDIAN HOUSING SECTOR – IMPACT Engine of domestic growth Backward & forward linkages with over 269 ancillary industries

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repco foundation for micro credit

REPCO FOUNDATION FOR MICRO CREDIT

FORMAL & INFORMAL LINKAGES IN INDIAN HOUSING SECTOR

Presentation by

G. Manickasundaram

Project Director

growth of the indian housing sector impact
GROWTH OF THE INDIAN HOUSING SECTOR – IMPACT
  • Engine of domestic growth
  • Backward & forward linkages with over 269 ancillary industries
  • Second largest employment generator in the country
  • Growth in demand is driven by
          • improved affordability
          • Lower interest rate
          • Fiscal incentives
          • Stable property prices
          • Rising income levels
          • Increasing housing needs
slide3

FORMAL AND INFORMAL LINKAGES

  • Informal
  • Non institutional
  • Private sources
    • Money lenders
    • Traders
    • Relatives & Friends
    • NGOs
    • SHGs
  • Formal
  • Banks
  • Financial Institutions
  • Capital Market
  • Cooperatives
  • NBFCs
sources for finance for house construction
SOURCES FOR FINANCE FOR HOUSE CONSTRUCTION

(% of monetary cost on construction)

Source: NSSO (2004)

slide5

THE REPCO GROUP

  • Headed by Repco Bank- a multi-state Cooperative Sector Institution co- promoted by GOI and Southern States of Tamil Nadu, Andhra Pradesh, Karnataka & Kerala. Head quartered in Chennai, it started operation in 1969 with the main objective of rehabilitating repatriates. The Bank is governed by the Ministry of Home Affairs, Govt. of India.
  • Repco Home Finance Limited (RHFL), a housing finance subsidiary of Repco Bank started its operation in May 2000 and currently having a housing loan portfolio of Rs.1200 crore with 35 branches across Southern India.
  • Repco Foundation for Micro credit (RFMC), an NGO promoted by Repco Bank was registered, under Companies Act 1956 (Section 25). It is a not for profit entity for extending supporting services to SHGs financed by the bank solely with a view to increasing the income level and eventually improving the standard of life of the target group.
  • Repco Infrastructure Development Company Limited (RIDCL), subsidiary of Repco Bank & RHFL came into being in July 2008 with the main objective of implementing PPP projects with Southern State Governments.

5

28-10-2009

slide9

Low Income Housing- Proposed REPCO Model

  • Based on our experience so far in dealing with housing for low income, unorganized sector households, the most striking revelation is that owing to traditionally non-income generating nature of investment for housing (for this strata particularly where rental/ speculation is not relevant) there is lack of motivation on part of the beneficiaries.
  • It is felt that the solution
  • lies in promoting a Group Housing Concept through SHG Mode.
  • Hence, REPCO evolved an integrated model for shelter cum income generation for these households through the parent Bank and its 3 subsidiaries-RHFL, RFMC & RIDCL. The core principle of the model would be somewhat similar to NHB’s PHIRA Scheme with executing agencies taking bigger and more active role in implementation.
  • With group guarantee, even without adequate collateral, mortgage could be created and repayment guaranteed thereby addressing the problems of non-availability of property title and income proof.

9

28-10-2009

slide10

Low Income Housing- Proposed REPCO Model

Working of the Model

Activity

Role

Effectiveness

Organizing SHGs involved in similar activity

  • Promoting SHGs
  • Vocational Training
  • Marketing of SHG Products
  • Income could be assessed based on the prevailing market rates of SHG products and sales volume
  • There would also be credit linkages.
  • Follow up and recovery at lower cost

Construction of Shelter cum work shed

  • Assessing the shelter area requirement and work area requirement
  • Providing technical support
  • Planning the layout
  • Construction & delivery

Preparing estimates / expenditure budget, avoiding delay in construction or abandoning construction , providing technology support, low cost housing

Financial Assistance

  • Providing funding
  • Arranging for refinancing from concerned institutions

Taking care of initial margin requirement through family labour and locally available materials of beneficiary

10

28-10-2009

benefits of the scheme
BENEFITS OF THE SCHEME
  • Provides shelter to the poor downtrodden.
  • Gives opportunity for the unorganized labourers to own houses.
  • To benefit Women Self Help Group members to renovate their houses.
  • Shelter loan improves sustainability and the relationship among their members.