From the beginning of this world man has three basic needs i.e. food, clothing and shelter. In the modern world, it doesn’t matter that you belong to which class of society, everyman has a desire for his own house where he/she could live safely with his/her family. Therefore, the demand for houses has always been there and will remain as long as there are human beings on this planet.
Housing and development of any country are synonymous to each other as these are mutually supportive. Housing is an important part of strategy of any government for the alleviation of poverty and employment generation and is to be viewed as an integral part of overall improvement and economic development as fifty allied industries such as cement, iron and steel, aluminum, paints, sanitary, carpets, stone crushing etc. depends on this industry alone.
Almost all countries of the world have private and public sectors housing development and finance organization which have mobilized enormous personal factors resources and are contributing frequently to the national economy.
The housing sector requirements and the subjective conditions in Pakistan clearly establish that there is a dire need for such organizations to supplement the present efforts of the government.
Pakistan housing finance sector is highly underdeveloped. In the developed countries on an average housing finance represent over 25% of GDP (Journal of The Institute of Bankers Pakistan) which is quite high as compared to under developing countries
