HDFC sanctions over ₹2 lakh cr. retail home loans in FY22


The sweet spot for housing is still in the 50 lakh to 1 crore price range.

The sweet spot for housing is still in the 50 lakh to 1 crore price range.

HDFC Ltd. announced that it had approved retail home loans worth more than 2 lakh crore between April 1, 2021 and March 21, 2022, the highest ever in a fiscal year. Demand for these loans came from across the country, it said. “In over four and a half decades, I have not seen a better time for the housing sector than now, due to lower interest rates, stable house prices, government push towards affordable housing, improved affordability, favorable demographics, increasing urbanization and rising aspirations,” said Dr. Renu Sud Karnad.

“The government’s push for housing is a recognition that a fast-growing country like India, with a large young population, needs more homes at affordable prices that would allow more households to become homeowners,” she said. Ms. Sud said that the Credit Linked Subsidy Scheme (CLSS) programs under the Pradhan Mantri Awas Yojana (PMAY) have helped immensely in achieving the Housing for All goal. “The residential real estate segment will continue to experience strong traction going forward as housing demand is not just a pent-up need, it is a structural need,” she said. Stressing that demand for housing continues to come from both first-time owners and those moving up the property ladder — generally into larger apartments — she said there is healthy demand in both subways and non-subways affordable as well as high prices. end markets. “The sweet spot for housing is still in the 50 lakh to 1 crore price range,” she said. Affordable housing will continue to be the driving force behind the real estate sector in India, HDFC said. HDFC continues to have the largest number of home loan clients in excess of 2.7 lakhs who have claimed benefits under the (CLSS). As of December 31, 2021, the cumulative loan disbursed by the Company under CLSS is ₹45,914 crore and the cumulative grant amount is 6,264 crore. In the nine months ended December 31, 2021, 30% of home loan approvals by volume and 13% by value went to customers from the economically vulnerable segment (EWS) and low-income groups (LIG), the mortgage lender said.

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