Influence of Legal Environment on Housing Delivery

Abstract

Developing economies worldwide are pressed by the fundamental need of housing for their citizens. The present study assessed the influence of the existent legal environment in India on the delivery of assets in private housing market. In mass urban housing supply by private real estate promoters/developers, 14 key factors contributing to deficient housing supply were identified from within the framework and interpretation of real estate laws, while 33 factors captured deficiencies in execution of laws. A questionnaire survey was undertaken to gain the viewpoints of relevant sector-specific stakeholders on the identified factors. Statistical analyses were conducted to arrive at factors bearing statistical significance to deficient housing delivery. Gaping loopholes in the framework and interpretation of real estate laws were ascertained to have been further exacerbated by inefficiencies in execution of laws. The findings reflect the pressing need to enhance the efficiency of existent legal environment to optimize housing delivery in India.