Title: An analytical study on the potential investors' perceptions towards reverse mortgage loan in Navi Mumbai Region of Maharashtra State

Authors: Amee Nagar; N. Mahesh; Krishna Kant Dave

Addresses: Pacific University, Udaipur, Rajasthan, India ' A.C. Patil College of Engineering, Kharghar, Navi Mumbai, Maharashtra, India ' Pacific University, Udaipur, Rajasthan, India

Abstract: The reverse mortgage loan scheme is a wondrous income option for 'cash poor and home rich' senior citizens during their old age days. The current Indian demographic and socio-economic changes will increase the demand for the product in the next few years. The present study is to identify and understand the Indian potential investors' perception regarding the financial benefits and virtues of reverse mortgage loans in the Indian market scenario. After a decade since inception, Indians are unable to build an explicit opinion about the product. Their major apprehension is of losing the property at the end, which is leading to feeble perception towards the scheme. To make a successful product, the policymakers, and the loan providers should show a broader picture to the potential investors, and the potential investors should grab this opportunity to understand the product. This will be helpful for them to live their post-retirement life independently.

Keywords: senior citizens; reverse mortgage; cash poor and home rich; reverse mortgage perception; elderly population; retirement plan; old age financial stability; financial literacy; Indian housing sector.

DOI: 10.1504/IJICBM.2022.122725

International Journal of Indian Culture and Business Management, 2022 Vol.25 No.3, pp.283 - 300

Received: 23 Oct 2020
Accepted: 02 Feb 2021
Published online: 09 May 2022 *

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