The National Housing Bank (NHB) and other regulatory entities play a crucial role in influencing housing finance and maintaining market stability, hence promoting a resilient and sustainable housing sector. This thesis analyzes the historical development, roles, and influence of the NHB, founded in 1988 to regulate housing finance institutions and advocate for affordable housing. It additionally examines the roles of other significant regulatory bodies, including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the Ministry of Housing and Urban Affairs (MHUA), in overseeing and advancing the housing market. The research underscores the NHB's function in liquidity provision, credit control, and facilitation of affordable housing programs. It also tackles the issues encountered by the NHB, including operational inefficiencies and critiques from many stakeholders. The thesis analyzes international comparisons of housing finance regulatory regimes in the United States, United Kingdom, and other nations, offering ideas for prospective enhancements in the Indian context. The thesis demonstrates, via case studies, the effects of regulatory interventions on housing projects, market stability, and economic outcomes. It delineates critical areas for improvement, such as fortifying the regulatory framework, enhancing inter-agency collaboration, and adjusting to changing market dynamics. The results provide significant recommendations for policymakers and practitioners to enhance a more efficient and inclusive housing finance system.