In India, female homeownership is not common – even among joint heads of households, the owner of the home is generally male. Women lack access to traditional finance institutions, and so increasing homeownership and housing tenure is reliant upon government programs facilitating access.
There have been two government programs focused on increasing women’s access to housing. The first, Pradhan Mantri Awas Yojana (PMAY), aims to provide affordable housing to urban and rural poor with a Credit-Linked Subsidy Scheme. Through PMAY, the government grants a subsidized interest rate of up to 6.5% for low-income residents – but in order to attain the subsidy, the title must include a woman, effectively attracting women as co-applicants for housing loans. The second program is a Special Refinance Scheme for Women, which provides refinance assistance to primary lending institutions at concessional rates so long as the primary borrower is a woman.
Source:
International Finance Corporation. (2020) Her Home – Housing Finance for Women. International Finance Corporation.
Link: https://www.ifc.org/en/insights-reports/2020/her-home-housing-finance-for-women