Micromortgage

The Economic Times explores the growing micromortgage finance industry in India.

From original article:

A study for the National Housing Bank has found that there are over 40 housing developers across seven states in India offering apartments in the '3-10 lakh range, the cheapest of which are affordable to households earning as little as '7,500 per month. This market has huge potential for both social and commercial impact, but many low-income customers are being prevented from buying houses due to the lack of housing finance available for the poor. Enter the "micromortgage" companies.

For additional background on the affordable housing market and micromortgages in India, reference the Building Houses: Financing Homes report from Monitor Inclusive Markets.