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Home»Articles»A Study on Consumer Perception towards Affordable Housing Loans

A Study on Consumer Perception towards Affordable Housing Loans

Author : Sachin Warade and Shubhangi Walvekar
Volume 7 No.2 July-September 2018 pp 41-46

Abstract

This paper is an attempt to reviews literature on customer perception for affordable housing finance. While it is evident that India has a huge shortage of affordable houses it also needs the proper financing system for the home loan customers in lower level income group. People who are in the category of annual gross income up to 5 lakhs per annually are considered as low income group customers in housing loan industry. There is a severe need of funding to this income group when it comes to build their own shelter. Even though many private and government financial institutions have come up with schemes financing the need of low income group; it is always a challenging task for them to understand what customers from this income group are perceived about their home loan need. Very few evidences exist in present literature talking about the customer perception and customer behavior in this category of housing loans. Hence; this paper is focused to find out customers perception and its impact on their interest to purchase affordable housing loan.

Keywords

Marketing of Affordable Housing Loan, Housing Loan Sales, Consumer Perception, Consumer Expectation, Affordable Housing Loan, Housing Finance

Full Text:

References

[1] Krishnamachar S M (1980). Mobilization of Finance for Rural Housing. Yojana Publication Division. New Delhi, 26, 6-18.
[2] Basset Keith, JohnR.& Paul Kegam (1980). Housing and Residental Structure – Alternatives Approaches, Boston and Henley.
[3] Lahiri, S.C (1996). Rural Housing-An Overview,Kurukshetra.
[4] Dr. Nair K.N.S. &Jayachandra Raj. (1994). Housingdemandin Kerala by 2001. A.D. Kerala calling.the authoritative English monthly of the Government of Kerala, 5-7.
[5] Manorama Year Book (1992) S.D. Gorangadi-General Manager Housing Bank. Bombay. Focus on Housing – Shelter for Millions. Do you have the money?. 381.
[6] Rangwala S.C. (1977) Town Planning R.C. Patel, Charotar Book Stall, 51-61.
[7] Mrs. LeelammaKuruvilla. (1999). Housing Finance in lndia. Indian Commerce Bullettin, September. 95 – 98.
[8] Bansal, H.S., Taylor, S.F. & James, Y.S., 2005. Migrating to New Service Providers: Toward a Unifying Framework of Consumers’ Switching Behaviors. Journal of the Academy of Marketing Science.33(1). 96-115
[9] Teichert, T. & Wagenführer, D. (2012). Effects of Disruptive Events on Consumer Loyalty: Bank Switching After 2008’s Crisis.Journal of Business and Policy Research.7(3). 195 – 205.
[10] Lohani. M.B and Bhatia. P (2011). Assessment of Service Quality in Publicand Private Sector banks of India with special reference to Lucknow City.International Journal of Scientific and Research Publications, 2(10). 1-7.
[11] Islam. M.A, Khadem. M.K & Alauddin.M. (2011). An EmpiricalAssessment of the Relationship between Service Quality and CustomerSatisfaction in Fashion House.Proceedings of the International Conferenceon Industrial Engineering and Operations Management, Kuala Lumpur,Malaysia,
[12] UdayaBhaskar. N and Raja Shekhar. B. (2011). Assessment of servicequality in apparel retailing, A study of three selected cities.Asian Journal of Management Research, 2(1).24-34.
[13] Gradeyan. R.A & Gbonda.O.O.A (2011). Customers’ preference for E-Banking Services: A Case Study of Selected Banks in Sierra Leone. Australian Journal of Business and Management Research. 1(4).108-116.
[14] http://bankingfrontiers.com/focus-is-on-affordable-housing/
[15] https://realty.economictimes.indiatimes.com/news/allied-industries/art-affordable-housing-finance-to-infuse-over-rs-100-crore-for-expansion-in-fy-18-19/63334232
[16] https://www.tandfonline.com/doi/abs/10.1080/02673039982560
[17] https://www.livemint.com/Politics/hDaqc3PfHKRkaFiv6ov0EP/A-market-solution-to-affordable-housing.html
[18] http://censusindia.gov.in/2011census/hlo/hlo_highlights.html

Asian Journal of Managerial Science (AJMS) is a quarterly international peer-reviewed journal of Managerial Science. One of the objectives of this journal is to disseminate knowledge on various research issues connected with the topics include, but are not limited to:

Accounting, Auditing, Banking, Business strategy, Corporate governance, Entrepreneurship, Financial structure, Capital markets, Health economics, Human resources management, Information systems,Innovation management, Insurance, Marketing, Organization, Production and logistics, Risk management, and Taxation.

This paper is an attempt to reviews literature on customer perception for affordable housing finance. While it is evident that India has a huge shortage of affordable houses it also needs the proper financing system for the home loan customers in lower level income group. People who are in the category of annual gross income up to 5 lakhs per annually are considered as low income group customers in housing loan industry. There is a severe need of funding to this income group when it comes to build their own shelter. Even though many private and government financial institutions have come up with schemes financing the need of low income group; it is always a challenging task for them to understand what customers from this income group are perceived about their home loan need. Very few evidences exist in present literature talking about the customer perception and customer behavior in this category of housing loans. Hence; this paper is focused to find out customers perception and its impact on their interest to purchase affordable housing loan.

Editor-in-Chief
Dr. Tan Fee Yean
Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
[email protected]
Editorial Advisory Board
Dr. Aidil Rizal Bin Shahrin
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. Amalendu Bhunia
Department of Commerce, University of Kalyani, West Bengal, India
[email protected]
Dr. Ahmad Zahiruddin Bin Yahya
Department of Accountancy, University of Malaya, Malaysia
[email protected]
Dr. Anil Govindrao Suryavanshi
Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
[email protected]
Dr. Ong Lin Dar
Department Of Business Strategy And Policy, University of Malaya, Malaysia
[email protected]
Dr.V.Balachandran
Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
[email protected]
Dr. Yeong Wai Chung
Department Of Operation and Management Information, University of Malaya, Malaysia
[email protected]
Prof.V.V.Devi Prasad Kotni
Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
[email protected]
Dr. Quah Chee Heong
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected].edu.my
Dr.Subrata Roy
Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
[email protected]
Dr. Norbani Binti Che Ha
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Tey Lian Seng
Department Of Business Strategy and Policy, University of Malaya,  Malaysia
[email protected]
Dr. Mohammad Nazri Bin Mohd Nor
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Binish Qadri
Research Scholar, Department of Economics, Central University of Kashmir, India
[email protected]
Dr. Khaw Lee Hwei
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. V. P. Sriram
Department of Management, Balaji Institute of International Business, Maharashtra, India
[email protected]
Dr. Yusniza Binti Kamarulzaman
Department of Marketing, University of Malaya,  Malaysia
[email protected]
Dr. Kanagi Kanapathy
Department of Operations and Management Information Systems, University of Malaya, Malaysia
[email protected]
Dr. Abd El Salam Mahmoud Abou Kahf
Department of Commerce, Alexandria University, Egypt
[email protected]
Dr. Wong Sek Khin
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Lee Su Teng
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Phoong Seuk Wai
Department of Operation and Management Information System, University of Malaya, Malaysia
[email protected]
Dr. Dennis Palkon
College of Business, Management, Florida Atlantic University
[email protected]

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    Editorial Note

    Editorial Dr. Tan Fee Yean

    Editor-in-Chief
    Dr. Tan Fee Yean
    Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
    [email protected]
    Editorial Advisory Board
    Dr. Aidil Rizal Bin Shahrin
    Department of Finance and Banking, University of Malaya, Malaysia
    [email protected]
    Dr. Amalendu Bhunia
    Department of Commerce, University of Kalyani, West Bengal, India
    [email protected]
    Dr. Ahmad Zahiruddin Bin Yahya
    Department of Accountancy, University of Malaya, Malaysia
    [email protected]
    Dr. Anil Govindrao Suryavanshi
    Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
    [email protected]
    Dr. Ong Lin Dar
    Department Of Business Strategy And Policy, University of Malaya, Malaysia
    [email protected]
    Dr.V.Balachandran
    Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
    [email protected]
    Dr. Yeong Wai Chung
    Department Of Operation and Management Information, University of Malaya, Malaysia
    [email protected]
    Prof.V.V.Devi Prasad Kotni
    Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
    [email protected]
    Dr. Quah Chee Heong
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected].edu.my
    Dr.Subrata Roy
    Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
    [email protected]
    Dr. Norbani Binti Che Ha
    Department of Marketing, University of Malaya, Malaysia
    [email protected]
    Dr. Tey Lian Seng
    Department Of Business Strategy and Policy, University of Malaya,  Malaysia
    [email protected]
    Dr. Mohammad Nazri Bin Mohd Nor
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Binish Qadri
    Research Scholar, Department of Economics, Central University of Kashmir, India
    [email protected]
    Dr. Khaw Lee Hwei
    Department of Finance and Banking, University of Malaya, Malaysia
    [email protected]
    Dr. V. P. Sriram
    Department of Management, Balaji Institute of International Business, Maharashtra, India
    [email protected]
    Dr. Yusniza Binti Kamarulzaman
    Department of Marketing, University of Malaya,  Malaysia
    [email protected]
    Dr. Kanagi Kanapathy
    Department of Operations and Management Information Systems, University of Malaya, Malaysia
    [email protected]
    Dr. Abd El Salam Mahmoud Abou Kahf
    Department of Commerce, Alexandria University, Egypt
    [email protected]
    Dr. Wong Sek Khin
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Lee Su Teng
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Phoong Seuk Wai
    Department of Operation and Management Information System, University of Malaya, Malaysia
    [email protected]
    Dr. Dennis Palkon
    College of Business, Management, Florida Atlantic University
    [email protected]

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