As per data released by CRIF High Mark, one of the leading credit bureaus in India, the housing loan market has grown at a three-year CAGR of 6.5 per cent. Also, active housing loan borrowers’ base as of December 2020 is nearly five per cent higher than pre-pandemic levels (December 2019).
It is practically impossible to buy a house, and often, even upgrade to a bigger house without a home loan. This is because, by the time most people build up enough savings to buy a house, the inflation rate makes the property even more expensive. Hence, a home loan allows an individual to buy a house with smaller savings at hand. Besides, the pandemic reinforced the idea that the safest place to be at is one’s own home. “Real estate, especially homeownership, is considered safer than the volatility of financial markets. With home loan rates at a multidecadal low and the developers offering indirect discounts/ freebies, the weighted average prices have reduced substantially; thus home-buyers are taking the plunge using the home loan route,” says Vipul Jain, head of products, CRIF High Mark.
Affordable housing drives demand
This story is from the August 07, 2021 edition of The Times of India Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 07, 2021 edition of The Times of India Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
US soccer scrubs Islamic emblem from Iran flag
The federation said in a statement Sunday that it decided to forego the official flag on social media accounts to show “support for the women in Iran fighting for basic human rights.”
Pyar Ke Saat Vachan Dharam Patnii begins on TV tonight
What happens when kismet takes over the lives of two couples belonging to two different sections of society?
Arijit serenades music lovers in Mumbai
Arijit Singh casts a spell with his voice
ARGENTINA LIVE TO FIGHT ANOTHER DAY
Messi's Strike Rattles Mexico And Lusail, Brings Team Back From The Brink
Costa Rica come alive
Los Ticos Stun Japan With Late Fuller Winner
Morocco's moment under the sun
Inspired Atlas Lions Shock Belgium For First WC Win In 24 Years
ON YOUR MARK, GET SET, SOAR
Athletics Icon Usha Set To Become First Woman President Of IOA
Industry body calls for slower rate hikes
CII Asks RBI To Moderate Pace Of Raising Repo As Global Woes May Impact Growth
Insurance reforms may see PE funding surge in sector
Irdai Raises Investment Cap, Allows PEs To Be Promoters
Cut ties with child-killing regime, Khamenei's niece tells world, held
Iranian authorities have arrested a niece of supreme leader Ayatollah Ali Khamenei after she recorded a video describing the authorities led by her uncle as a “murderous and child-killing regime”.
