Increasing Home Loans in India Showing a Scary Picture
Generated by meta ai As of late 2022 to mid-2023 data, India had an outstanding home loan (a common form of mortgage) portfolio valued at approximately ₹22.4 lakh crore (about USD 270 billion). The share of housing loans in total bank loans had risen to 14.2% by March 2023. Key Statistics on Indian Mortgage Loans Total Outstanding Value: The outstanding home loan portfolio was around ₹22.4 lakh crore at the end of the Financial Year 2021 (FY21), and the market has shown consistent growth since then. Number of Loans: In 2022 alone, 34 lakh (3.4 million) new home loans were disbursed. It's estimated that only about 10% of Indian households live in owned homes, with a significant potential for market growth. Market Growth: The Indian home loan market grew at a CAGR of 32% betwee...