In earlier times the state government initiated several schemes to promote housing development in the various districts. The schemes for direct provision or promotion of ownership housing include Low Income Group (LIG) and Middle Income Group (MIG) housing schemes, Housing Advance Scheme and Loans for Acquisition and Development of Land.
In the First Five Year Plan as much as 69.44 percent of total plan outlay on housing was allocated to these schemes. In the second and fourth Five Year Plans the percent allocation was 62 and 67 respectively. Since then there has been a significant decline on allocation to these schemes – the allocation dropping down to 18.18 percent in the Seventh Five Year Plan.
Since the Fifth Five Year Plan the emphasis shifted to provision of staff housing to the employees of the Kerala administration, central government and police. In the fifth five Year Plan the allocation on these counts was 42 percent increasing gradually to 50 percent in the seventh five-year plan. The allocation to Industrial Workers Housing Scheme has declined to a mere 0.65 percent in the seventh Five Year Plan.
While a lions share of the funds earmarked for housing development was being spent for developing housing units for government servants, only a small amount of the total funds set apart for the urban poor actually reached the beneficiaries. With the passage of time, the common people lost interest in such schemes and thus the government agencies gradually walked out of housing development. After the liberalization of the Indian economy, the private sector had a major say in the state of affairs. When considering the present demand for apartments Cochin City is witnessing a different trend unseen elsewhere. The investors do not mind paying huge sums of money to get into living spaces of their choice.
In the First Five Year Plan as much as 69.44 percent of total plan outlay on housing was allocated to these schemes. In the second and fourth Five Year Plans the percent allocation was 62 and 67 respectively. Since then there has been a significant decline on allocation to these schemes – the allocation dropping down to 18.18 percent in the Seventh Five Year Plan.
Since the Fifth Five Year Plan the emphasis shifted to provision of staff housing to the employees of the Kerala administration, central government and police. In the fifth five Year Plan the allocation on these counts was 42 percent increasing gradually to 50 percent in the seventh five-year plan. The allocation to Industrial Workers Housing Scheme has declined to a mere 0.65 percent in the seventh Five Year Plan.
While a lions share of the funds earmarked for housing development was being spent for developing housing units for government servants, only a small amount of the total funds set apart for the urban poor actually reached the beneficiaries. With the passage of time, the common people lost interest in such schemes and thus the government agencies gradually walked out of housing development. After the liberalization of the Indian economy, the private sector had a major say in the state of affairs. When considering the present demand for apartments Cochin City is witnessing a different trend unseen elsewhere. The investors do not mind paying huge sums of money to get into living spaces of their choice.
