ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Housing provides shelter, obviously, but it also serves other needs in developing countries. Housing is a location for business and provides other intangible emotional and cultural benefits. As in the developed world, housing activities in developing countries have economic benefits beyond the housing sector.

Detailed explanation-2: -Housing remains critical for providing safety, security, identity and space for social interaction for families to live, learn and grow together. Housing is also considered major determinant of quality of life besides major propeller of physical, social and economic development.

Detailed explanation-3: -Housing, or more generally, living spaces, refers to the construction and assigned usage of houses or buildings individually or collectively, for the purpose of shelter. Housing ensures that members of society have a place to live, whether it is a home or some other kind of dwelling, lodging or shelter.

Detailed explanation-4: -Income growth. Inflation. Subsidies. Interest costs. Availability of easy credit. Unemployment. Redevelopment norms. Stamp duty and registration charges.