Housing Finance Policy

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    A. Legal and Regulatory Framework

    A.1 Legal and Regulatory Framework
    VariableEnd of 2017End of 2016End of 2015SourcesVar ID
    Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Common LawCommon LawCommon Law
    CIA
    		A.1.1
    Are there specific laws that deal with mortgages? YesYesYesA.1.2
    Registration/Transfer of titles:A.1.3
    Does the law clearly define different types of property rights?YesYesYesA.1.3.1
    Typical number of days needed for the transfer of title535347
    WDI
    		A.1.3.4
    Are there legal constraints on mortgage features?YesYesYes
    Reserve Bank of India
    		A.1.6
    Interest rate capsYesYesYes
    Reserve Bank of India
    		A.1.6.1
    Loan-to-Value capYesYesYes
    Reserve Bank of India
    		A.1.6.2
    Are there consumer rights for mortgage lending? YesYesYesA.1.7
    Is there specialized legislation covering:A.1.9
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    VariableEnd of 2017End of 2016End of 2015SourcesVar ID
    Are there subsidized funding sources for mortgage lenders?YesYesYes
    Reserve Bank of India Annual Report
    		B.1.1
    Special government lines of credit YesYesYes
    Reserve Bank of India Annual Report
    		B.1.1.1
    Government supported liquidity facilityYesYesYes
    National Housing Bank Trend and Progress Report
    		B.1.1.2
    Is the lending side of the housing finance system subsidized?YesYesYesB.1.2
    Shared credit risk through public/private mortgage insurance YesYesYesB.1.2.1
    B.2 Subsidies to Households
    VariableEnd of 2017End of 2016End of 2015SourcesVar ID
    Are there subsidies to households on housing finance?YesYesYesB.2.1
    Buy-down of monthly/interest paymentsYesYesYesB.2.1.2
    Down-payment subsidies YesYesYesB.2.1.3
    Mortgage interest deductibility from income taxYesYesYesB.2.1.5
    OtherYesYesYesB.2.1.6
    Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
    C. Taxation
    VariableEnd of 2017End of 2016End of 2015SourcesVar ID
    What taxes apply to Residential Real Estate?C.1
    Tax on property (home-owners) NoNoNoC.1.1
    Tax on capital gains on property YesYesYesC.1.5
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    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: 2010 = 100
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation.
    Notes: Banks are required to adhere to "directives issued by Reserve Bank of India" but there is no hard interest rate cap as a measure of standard macro-prudential regulation. 
    Notes: Both HUDCO and NHB are publicly owned and serve as smaller primary lenders to lower income group (LIG) segments of India's borrowers.
    Notes: Both HUDCO and NHB are publicly owned and serve as smaller primary lenders to lower income group (LIG) segments of India's borrowers.
    Notes: Both HUDCO and NHB are publicly owned and serve as smaller primary lenders to lower income group (LIG) segments of India's borrowers.
    Notes: Both HUDCO and NHB are publicly owned and serve as smaller primary lenders to lower income group (LIG) segments of India's borrowers.
    Notes: Both HUDCO and NHB are publicly owned and serve as smaller primary lenders to lower income group (LIG) segments of India's borrowers.
    Notes: Both HUDCO and NHB are publicly owned and serve as smaller primary lenders to lower income group (LIG) segments of India's borrowers. 
    Notes: Certain special withholding taxes exist for the sale of real property.
    Notes: Certain special withholding taxes exist for the sale of real property.
    Notes: Certain special withholding taxes exist for the sale of real property.
    Notes: Certain special withholding taxes exist for the sale of real property.
    Notes: Certain special withholding taxes exist for the sale of real property.
    Notes: Certain special withholding taxes exist for the sale of real property. 
    Notes: Commercial banks have been the largest mortgage lenders to individuals, whose funds primarily come from retail operations.
    Notes: Commercial banks have been the largest mortgage lenders to individuals, whose funds primarily come from retail operations.
    Notes: Commercial banks have been the largest mortgage lenders to individuals, whose funds primarily come from retail operations.
    Notes: Commercial banks have been the largest mortgage lenders to individuals, whose funds primarily come from retail operations.
    Notes: Commercial banks have been the largest mortgage lenders to individuals, whose funds primarily come from retail operations.
    Notes: Commercial banks have been the largest mortgage lenders to individuals, whose funds primarily come from retail operations. 
    Notes: Defined by the Ministry of Home Affairs as "dilapidated housing units."
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Excludes cooperatives and MFIs
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas."
    Notes: Housing and Urban Development Corporation Limited (HUDCO) is publicly-owned and focuses on "providing long term finance…[to] individual borrowers belonging to all sections of the society in urban and rural areas." 
    Notes: IMGC began business in 2013 as a joint venture between various government agencies and NGOs. Its purpose is to enable lenders to provide higher loan amounts while allowing them to mitigate credit risk.
    Notes: IMGC began business in 2013 as a joint venture between various government agencies and NGOs. Its purpose is to enable lenders to provide higher loan amounts while allowing them to mitigate credit risk.
    Notes: IMGC began business in 2013 as a joint venture between various government agencies and NGOs. Its purpose is to enable lenders to provide higher loan amounts while allowing them to mitigate credit risk.
    Notes: IMGC began business in 2013 as a joint venture between various government agencies and NGOs. Its purpose is to enable lenders to provide higher loan amounts while allowing them to mitigate credit risk. 
    Notes: No comprehensive country-wide system of property tax in effect.
    Notes: No comprehensive country-wide system of property tax in effect.
    Notes: No comprehensive country-wide system of property tax in effect.
    Notes: No comprehensive country-wide system of property tax in effect.
    Notes: No comprehensive country-wide system of property tax in effect.
    Notes: No comprehensive country-wide system of property tax in effect.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. "In-Situ" Slum Redevelopment includes government grants to individuals in order to have their housing unit redeveloped by private developers.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. "In-Situ" Slum Redevelopment includes government grants to individuals in order to have their housing unit redeveloped by private developers.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. "In-Situ" Slum Redevelopment includes government grants to individuals in order to have their housing unit redeveloped by private developers. 
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. Down payment subsidies are available to households for eligible Economically Weakened Section (EWS) families.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. Down payment subsidies are available to households for eligible Economically Weakened Section (EWS) families.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. Down payment subsidies are available to households for eligible Economically Weakened Section (EWS) families. 
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. The Credit Linked Subsidy Scheme (CLSS) is a program that offers a subsidized interest rate of 6.5% for low income group (LIG) homebuyers that take out mortgages from banks, housing finance companies, and other financial institutions.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. The Credit Linked Subsidy Scheme (CLSS) is a program that offers a subsidized interest rate of 6.5% for low income group (LIG) homebuyers that take out mortgages from banks, housing finance companies, and other financial institutions.
    Notes: Part of the Government's PMAY (Housing for All) program for 2015-2022. The Credit Linked Subsidy Scheme (CLSS) is a program that offers a subsidized interest rate of 6.5% for low income group (LIG) homebuyers that take out mortgages from banks, housing finance companies, and other financial institutions. 
    Notes: The Government of India created the Credit Risk Guarantee Fund Trust (CRGFT) in 2012 in order to improve access to loans for Low Income Group (LIG) indivduals and families. The Fund offers mortgage insurance to primary lenders for individual loans that target the poor, thereby reducing the credit risk of the bank.
    Notes: The Government of India created the Credit Risk Guarantee Fund Trust (CRGFT) in 2012 in order to improve access to loans for Low Income Group (LIG) indivduals and families. The Fund offers mortgage insurance to primary lenders for individual loans that target the poor, thereby reducing the credit risk of the bank.
    Notes: The Government of India created the Credit Risk Guarantee Fund Trust (CRGFT) in 2012 in order to improve access to loans for Low Income Group (LIG) indivduals and families. The Fund offers mortgage insurance to primary lenders for individual loans that target the poor, thereby reducing the credit risk of the bank.
    Notes: The Government of India created the Credit Risk Guarantee Fund Trust (CRGFT) in 2012 in order to improve access to loans for Low Income Group (LIG) indivduals and families. The Fund offers mortgage insurance to primary lenders for individual loans that target the poor, thereby reducing the credit risk of the bank.
    Notes: The Government of India created the Credit Risk Guarantee Fund Trust (CRGFT) in 2012 in order to improve access to loans for Low Income Group (LIG) indivduals and families. The Fund offers mortgage insurance to primary lenders for individual loans that target the poor, thereby reducing the credit risk of the bank.
    Notes: The Government of India created the Credit Risk Guarantee Fund Trust (CRGFT) in 2012 in order to improve access to loans for Low Income Group (LIG) indivduals and families. The Fund offers mortgage insurance to primary lenders for individual loans that target the poor, thereby reducing the credit risk of the bank. 
    Notes: The National Housing Bank makes refinancing loans to primary lending institutions at below market rates as a subsidy to lenders. Housing finance corporations, which are second in size only to scheduled commercial banks (SCBs), are primarily funded by loans from other financial institutions.
    Notes: The National Housing Bank makes refinancing loans to primary lending institutions at below market rates as a subsidy to lenders. Housing finance corporations, which are second in size only to scheduled commercial banks (SCBs), are primarily funded by loans from other financial institutions.
    Notes: The National Housing Bank makes refinancing loans to primary lending institutions at below market rates as a subsidy to lenders. Housing finance corporations, which are second in size only to scheduled commercial banks (SCBs), are primarily funded by loans from other financial institutions.
    Notes: The National Housing Bank makes refinancing loans to primary lending institutions at below market rates as a subsidy to lenders. Housing finance corporations, which are second in size only to scheduled commercial banks (SCBs), are primarily funded by loans from other financial institutions.
    Notes: The National Housing Bank makes refinancing loans to primary lending institutions at below market rates as a subsidy to lenders. Housing finance corporations, which are second in size only to scheduled commercial banks (SCBs), are primarily funded by loans from other financial institutions.
    Notes: The National Housing Bank makes refinancing loans to primary lending institutions at below market rates as a subsidy to lenders. Housing finance corporations, which are second in size only to scheduled commercial banks (SCBs), are primarily funded by loans from other financial institutions. 
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans.
    Notes: The National Housing Bank operates as an arm of the Reserve Bank of India, extending loans at concessional interest rates to HFCs, banks, and other co-op institutions against their housing loans. 
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987.
    Notes: The NHB is in control of regulating and supervising housing finance companies in India, as per the provisions of the National Housing Bank Act, 1987. 
    Notes: Up to INR 2 million LTV capped at 90%. From INR 2 million to 7.5 million, capped at 80%--75% for values beyond that.
    Notes: Up to INR 2 million LTV capped at 90%. From INR 2 million to 7.5 million, capped at 80%--75% for values beyond that.