Surge in housing loans reflects strong growth in India’s housing market Financial Express
The Reserve Bank of India’s latest data on ‘Sectoral Deployment of Bank Credit’ has unveiled a remarkable trend in the housing sector. With a substantial surge in outstanding loans over the past two financial years, the data underscores the burgeoning growth of India’s residential real estate market and the escalating demand for homes nationwide. According to the Reserve Bank’s data, credit outstanding to the housing sector, primarily comprising home loans, has increased significantly by Rs 10 lakh crore during the last two years to a staggering Rs 27.22 lakh crore as of March 2024, marking a noteworthy rise from Rs 17.26 lakh crore recorded at the end of March 2022.
