Housing Loan

Housing loans outstanding stood at ₹33.53 trillion at Q2FY25: NHB

Individual housing loans outstanding stood at Rs 33.53 lakh crore at the end of September, a growth of 14 per cent year-on-year, with the MIG segment accounting for the maximum credit, according to National Housing Bank (NHB). NHB, a statutory body under the Government of India, has released the Report on Trends and Progress of Housing in India. "As on September 30, 2024, EWS and LIG accounted for 39 per cent, MIG accounted for 44 per cent and HIG accounted for 17 per cent of outstanding individual housing loans," the report said. It further said individual housing loan disbursements during the half year ended September 2024 were Rs 4.10 lakh crore while disbursements during the year ended March 2024 were Rs 9.07 lakh crore. The report broadly covers the housing scenario and house price movements, flagship programmes of GoI in the housing sector, role of Primary Lending Institutions (PLIs) in providing housing credit, performance of Housing Finance Companies (HFCs) and outlook for

Bajaj Housing Finance Q2 results: Net profit rises 21% to Rs 546 crore

This is the first quarterly earnings report after its equity capital market listing in September 2024

Retail loan growth moderates to 17.8% due to slowdown in unsecured credit

Within the retail segment, credit growth in housing, the largest constituent of the retail category

Housing financier Altum Credo raises $40 mn from Z3Partners, Oikocredit

Affordable housing financier Altum Credo on Thursday announced a USD 40 million (around Rs 332 crore) fundraise in a round led by Z3Partners and impact investor Oikocredit. The 2017-founded company said the Series C round includes a USD 27 million fundraise in fresh equity and USD 13 million in partial exit to Series A investors, a statement said. The Pune-headquartered company plans to deploy the new capital for growing its assets under management, which stood at Rs 830 crore as of March 2024, it said. Apart from the lead investors, the UK's British International Investment and existing investors Aavishkaar Capital, Amicus Capital and PS Pai and family also participated in the new round, it said. It had raised a Series A equity funding of USD 9.8 million in 2018 and USD 12 million in Series B round in 2021. The company focuses on unserved and under-served segments using digital tools, targeting first time homeowners, and 93 per cent of the customers are from the economically weak

LIC Housing Finance to aggressively use OTS, ARC for loan recoveries

The company had written off Rs 544.71 crore during FY23, in comparison to just Rs 23.03 crore written off in the previous year

Housing loans rise 15% to Rs 19.36 trn despite high-interest rates

Housing loans outstanding rose 15 per cent year-on-year to a record Rs 19.36 lakh crore at March-end, notwithstanding the Reserve Bank's rate hike spree since May last year, showed central bank data released on Friday. The housing loan outstanding at March-end 2022 was Rs 16.84 lakh crore, a growth of 12.9 per cent year-on-year. The loan outstanding for housing (including priority sector housing) was Rs 14.92 lakh crore in March 2021. The Reserve Bank has hiked the benchmark rate by 250 basis points since May 2022, leading to a firming up of interest rates on all loans, including for purchasing residential properties. Releasing the data on 'Sectoral Deployment of Bank Credit March 2023', the central bank said personal loans registered a growth of 20.6 per cent (year-on-year) in March 2023 compared to 12.6 per cent a year ago, primarily driven by housing loans'. The personal loans segment includes consumer durables, housing, advances against fixed deposits, credit card outstanding,

Enter longer-duration lease to control hike in home rental rates

Go for house purchase if EMI doesn't exceed 40 per cent of net salary; ensure financial resilience with 12 instalments in emergency fund

Re-examine your theory on housing loan: Chidambaram to Finance Secy

Senior Congress leader and former finance minister P Chidambaram on Sunday urged Finance Secretary T V Somanathan to "re-examine his theory" that a housing loan is not a saving. Somanathan, in an interview to The Hindu while talking about the old tax regime, said that if one looks at the structure of the tax deductions, half of them are for savings and half of them are for dis-savings like housing loan or interest on housing loan. "The Finance Secretary asks 'Is the housing loan a saving?' His answer is 'No'. I wonder how many people will agree with the Finance Secretary," Chidambaram said on Twitter. The payment of interest and the installments of the loan is indeed an expenditure, but it is expenditure which is converted into an asset, which is a saving, the former finance minister argued. "Suppose you spend the same money on a holiday or at a race course: there will be no asset at the end," he said. "The Finance Secretary should re-examine his theory that a Housing Loan is not

High interest rates do not deter home buyers, says BoB research report

High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda. The borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May. The report on 'Housing loan scenario in India' said the housing segment has shown resilience post pandemic. The strong momentum in housing loans by both Public Sector Banks (PSBs) and other financial institutions also points to the same. The government and RBI measure to support this sector, along with lower prices and interest rates helped cushion the impact of the Covid-19 pandemic on this sector. With normalisation of economic activity and a pickup in growth, demand for housing is poised to grow, suggesting more demand for housing loans, said the report authored by Aditi Gupta, ...

HDFC raises Rs 8.7k cr as 'social loan' to fund affordable housing segment

Mortgage lender HDFC Ltd on Friday said it has raised USD 1.1 billion (around Rs 8,700 crore) from a clutch of investors under 'Syndicated Social Loan Facility' to cater to affordable housing

Explained: What is a credit score, why is it important & how to improve it

A credit score is among the first things a financial institution would check in order to sanction a loan

HDFC raises Retail Prime Lending Rate on housing loans by 50 bps

Following the RBI MPC's decision to raise benchmark policy rate by 50 bps, many lenders, including ICICI Bank and BoB, have also raised their external benchmark linked loan rates by an equal amount

Cities with higher circle rates to gain from Sitharaman's new relaxation

While developers hail FM's announcement, they want the govt to exempt the entire interest paid on housing loan from income tax

Covid-19: Housing sales fell 46% in July-Sep; 57% in Jan-Sep on low demand

During the January-September period this year sales have declined by 57 per cent to 87,460 units, from 2,02,200 units a year ago

Huge relief for home loan borrowers if govt bears part of compound interest

The increase in EMI or tenure will be lesser if the government pays the compound interest

Retail credit up by Rs 40,853 cr in July over June, MSME loans up slightly

RBI said on YoY basis, non-food bank credit grew 6.7 per cent in July 2020, the same as June 2020, but lower than the growth of 11.4 per cent in July 2019

Housing finance has key role in making India $5 trn economy: Keki Mistry

For the housing sector, the authorities are aware of the strong linkages it has with the economy.

Festive season pushes retail lending in Sept to 16.6% from 15% a year ago

Consumer durable and housing loan accelerated the most, service sector witnesses a sharp fall in the credit growth rate

Limited loan growth gains for smaller home finance companies

HFCs give smaller-sized loans largely to the self-employed borrowers where banks have a lower presence

Small housing loan biz sees many players

Micro housing finance companies provide loans to people who have little documents to get a bank loan