New Delhi:Home loan availability increases by 14 percent, with middle-income groups leading the way,
The NHB report states that
Housing loans in the country have increased by 14 percent, with the total outstanding loans standing at Rs 33.53 lakh crore as of September last year, the National Housing Bank (NHB) has said.
Housing loans in India have increased by 14 percent month-on-month to Rs 33.53 lakh crore as of September last year. Of this, the middle-income group is at the top with a share of 44 percent.
The economically backward and low-income groups are at the second place with a share of 39 percent; and the high-income group is at the third place with a share of 17 percent.
In the six months from April to September last year alone, housing loans worth Rs 4.10 lakh crore were obtained.
The future outlook for the housing sector is good.
The recent Union Budget announcements, including the second phase of the Prime Minister’s Housing Scheme and urbanisation initiatives, are set to strengthen it.
Housing finance companies are playing a key role in meeting the needs of home buyers.
The number of home loan takers has increased due to various reasons including providing certain concessions in determining the eligibility for loans, better customer service and ensuring quick loan availability. This was reported.
Note: It’s not important for middle class people to buy a house, it’s wrong for people to buy beyond their means.
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