The individual housing loans outstanding as of September 30, 2024, stood at Rs 33.53 lakh crore, marking a 14% growth compared to the same period in the previous year, said the National Housing Bank (NHB) on Wednesday.
According to the report launched by the NHB, on Trends and Progress of Housing in India, 2024, Individual housing loan disbursements were recorded at Rs 4.10 lakh crore during the half-year that ended September 2024, while for the full financial year 2023-24, disbursements reached Rs 9.07 lakh crore.
Further it is said that upto the said period, EWS & LIG accounted for 39%, MIG accounted for 44% and HIG accounted for 17% of outstanding individual housing loans.
For the quarter ended September 2024, the Housing Price Index (NHB-RESIDEX) recorded a y-o-y increase of 6.8% as compared to 4.9% during previous year.
It said that the major initiatives of GoI, such as PMAY-G, PMAY-U, impact assessment of PMAY-U, Urban Infrastructure Development Fund (UIDF), Affordable Rental Housing Complexes (ARHC) scheme, etc. have been covered in the report.
The report identifies regional disparities in credit flow and vulnerability to climate related risks, as some of the key challenges to be addressed by the sector.
It also identifies technological advancements in construction, digitization of land records etc. as some of the factors which will facilitate growth opportunities for the sector.