New Delhi, Mar 12 (UNI) Individual housing loans outstanding as on September 2024 stood at Rs 33.53 lakh crore, showing growth of 14% over the corresponding period of previous year, as per a National Housing Bank (NHB) report released on Wednesday.
The report said that India’s residential real estate market is experiencing a surge in activity, fueled by a robust economy and growing demand for luxury living.
Despite global economic uncertainties, the report said that demand for high-end properties in India has shown resilience, underscoring the confidence of affluent buyers in the long-term value of premium real estate.
“Driven by rapid urbanisation and rising income levels, metropolitan landscapes are undergoing significant transformations. This has led to a surge in demand for high-quality housing and a superior lifestyle,” it said.
As per the report, EWS & LIG accounted for 39% of outstanding individual housing loans as on September 2024 while MIG accounted for 44% and HIG accounted for 17%.
Individual housing loan disbursements during half year ended September 2024 were Rs 4.10 lakh crore while disbursements during the year ended March were Rs 9.07 lakh crore.
For the quarter ended September 2024, the Housing Price Index (NHB-RESIDEX) recorded a year-on-year increase of 6.8% as compared to 4.9% during previous year.
