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Home loan outstanding up by Rs 10 lakh crore in last 2 years; reaches Rs 27 lakh crore in March: RBI data

Money Control · 1y

Outstanding credit to the housing sector in India has increased by nearly Rs 10 lakh crore in the last two fiscal years, reaching a record high of Rs 27.23 lakh crore in March 2024. This growth is attributed to a strong revival in the residential property market following the COVID-19 pandemic. The data indicates a surge in housing sales and prices, particularly in the affordable housing segment. Experts predict that the trend will continue with robust growth in home loans, although it may taper down slightly due to a higher base. The Indian real estate sector is expected to reach a $1 trillion milestone by 2030.