ACCORDING to the data released by the study ‘Invest India Incomes and Savings Survey 2007’, homeownership in India is the highest among the people engaged in the agriculture sector.

Of total homeownership in India, farmers and other agricultural workers make for 37.94%. The farmers with marketable surplus grab the top position among homeowners in India and even outnumber businessmen in cities. People in this category are believed to be earning Rs 90,000 a year.

Another interesting fact is that more than 80% of the homes are self financed. The farmers give entire credit to their ability to save which turned their dream of owning a home into reality. Housing loans also turn out to be the saviors providing them with financial aid for buying home. The loans from banks, lenders, and other financial institutions constitute 14% of all home purchases. However, self financing does not mean buying a completely mortgage free property.

There are many farmers who own homes but are planning to sell them as they find it the only way out to pay off their debts. And this is why most of them are in a look out for prospective buyers. This is not the end of their woes. Some farmers find themselves unable to put their house on market as they don’t see the valuation of their property encouraging enough.

As opposed to the current scenario, the farmers and other belonging to the agriculture sector made enormous profits from the real estate boom in the past years. The report shows a considerable increase in asset values of rural properties. It has been increased from Rs 1.7 lakh to Rs 3.2 lakh only whereas the rise in urban assets has touched Rs 23.9 lakh from the mere Rs 11.9 lakh.

India is witnessing a shortage of 19.4 million housing units, of which, 6.7 million in urban and 12.7 million in rural India.


Whether its about Rural India or Urban India, the scenario of owning a home seems to be standing on the back of a single ultimate fact i.e.
To live a dream of owning a home, be prepared to drown yourself into a sea of debts
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