According to the policy experts, housing must be declared as an industry so that institutional finance and other help can be made available to entrepreneurs in both public and private sectors. Laws relating to registration of property developers and builders will have to be reviewed and strengthened to attract entrepreneurs to the housing industry. Apart from laws making loans available on mortgages, it is also necessary to introduce mortgage insurance and provide for speedy foreclosure and develop a secondary mortgage market, thus opening vast possibilities of resource mobilization for investment in the housing sector.
Apart from that, the national government needs to bring about necessary changes in laws relating to registration of developers, laws to control housing related development activities, associated byelaws, regulations and standards concerning housing and physical environments.
With respect to the proliferation of Apartments Ernakulam district is witnessing fast progress mainly due to the investor friendly approach of the city corporation, the municipalities in the district and the local bodies. This approach is rarely seen in other parts of the state. Thus with respect to the increasing height of the skyscrapers, Ernakulam district is now taking the lead in building higher and higher. Even though the skyline of the city centers started changing much earlier, major changes are being seen only now.
Consider the recent sanction given to a particular luxury home in Ernakulam. Normally only single phase or three-phase electricity connection is given for household purposes. All other electricity connections with excessive power consumption are classified as that for industrial purposes. This particular luxury home had high power consuming electricity and electronic gadgets that required special sanction from the legislative authorities. The government finally gave the nod, but at a higher tariff rate.