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Models for Financing Mass Housing

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Sustainable Cities and Communities

Part of the book series: Encyclopedia of the UN Sustainable Development Goals ((ENUNSDG))

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Definitions

Mass housing:

This refers to low-cost housing projects, which aim at providing a large number of houses to the poor at affordable prices or providing them on easy financing options.

Mortgage:

It is to obtain loan from banks against submission of title to the property. When the loan is paid, the bank returns the title papers of the property.

Equated monthly installment (EMI):

It is a monthly payment that is paid by the borrower to the bank till the loan is completely paid. The buyer of the house/flat pays EMI to the bank. EMI includes a component of principal amount and a component of interest.

Down payment:

When a person buys a house or a flat, some initial payment is necessary, which may be about 10% of the price of the flat or house. The remaining payment is financed by the bank, so thereafter the buyer of the property makes the payment to the bank in the form of EMI. It is also called margin because banks do not finance 100% of the value of the flat/house. Banks provide...

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Author information

Authors and Affiliations

  1. Ecosystem for Innovation and Entrepreneurship, Suresh Gyan Vihar University, Jaipur, Rajasthan, India

    Trilok Kumar Jain

  2. Manda Institute of Technology, Bikaner and honorary researcher, Knowledge Creators, Rishabh Dev Educational Society, Bikaner, Rajasthan, India

    Nirupa Jain

Authors
  1. Trilok Kumar Jain
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  2. Nirupa Jain
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Corresponding author

Correspondence to Trilok Kumar Jain .

Editor information

Editors and Affiliations

  1. FTZ-ALS, Hamburg University of Applied Sciences FTZ-ALS, Hamburg, Germany

    Walter Leal Filho

  2. Ctr Neurosci & Cell Biology, 1 Floor, Univ Coimbra, Edf Fac Medicina, Coimbra, Portugal

    Anabela Marisa Azul

  3. Faculty of Engineering and Architecture, Passo Fundo University Faculty of Engineering and Architecture, Passo Fundo, Brazil

    Luciana Brandli

  4. Istinye University, Istanbul, Turkey

    Pinar Gökcin Özuyar

  5. International Centre for Thriving, University of Chester, Chester, UK

    Tony Wall

Section Editor information

  1. Federal University of Viçosa, Rio Paranaíba, Brazil

    Samuel Borges Barbosa

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Jain, T.K., Jain, N. (2019). Models for Financing Mass Housing. In: Leal Filho, W., Azul, A., Brandli, L., Özuyar, P., Wall, T. (eds) Sustainable Cities and Communities. Encyclopedia of the UN Sustainable Development Goals. Springer, Cham. https://doi.org/10.1007/978-3-319-71061-7_90-1

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  • DOI: https://doi.org/10.1007/978-3-319-71061-7_90-1

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-71061-7

  • Online ISBN: 978-3-319-71061-7

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