Increasing population and
government’s push on the affordable housing are driving the Home loan market in
India during the forecast period
According
to TechSci Research report, “India Home Loan Market, By Type, By Source, By
Interest Rate, By Tenure, By Area of Property, Competition, Forecast & Opportunities,
2024”, home
loan market in India is anticipated to grow at a brisk rate on account of
increasing population and affordable mortgage rates. Generally, people seek
home loan for extension, renovation, repair or buying a house. Moreover, owing to
growing employment opportunities in tier 1 cities, more and more people are
shifting to these cities by purchasing home through home loan, which is
anticipated to drive India home loan market through 2024.
Browse market data Figures and Tables spread
through Pages and an in-depth TOC on "India Home Loan Market"
Home loan market in India can be segmented
based on type, source, interest rate, tenure, area of property and region. In
India, bank and housing finance companies (HFCs) are the preferred sources for
home loan. Banks dominated the market in 2018 and the trend is likely to
continue in the forthcoming years as well. This is due to the fact that banks
offer attractive interest rates when compared with housing finance companies
which are regulated by National Housing Bank. Additionally, banks follow
marginal cost of funds-based lending rate (MCLR) model which is attracting a
lot of customers. In terms of interest rate, market can be bifurcated into
fixed rate and floating rate. Fixed rate is the preferred choice by majority of
Indians as floating interest rate is subjected to market interest rate and
repayment might increase if market rates increases.
Major players operating in India home finance
market include housing finance companies and banks. For instance, some of the
major banks in the country include State Bank of India, HDFC Bank, and ICICI Bank,
among others. Another method of housing loan is house financing companies, such
as Bajaj Finance, Kotak Mahindra. The companies operating in the loan market
are offering flexibility in terms of interest rates, service charge & fees
and tenure in order to draw customers.
Customers can also
request for 10% free customization on this report.
“Rising government focus towards housing for all under Pradhan Mantri
Awas Yojana, income tax rebate for interest repayment and affordable mortgage
rates are driving the growth of home loan market in India. Moreover, low
interest rate in India in comparison to other countries along with increasing
urbanization would further steer growth in India home loan market during
forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Home Loan Market,
By Type, By Source, By Interest Rate, By Tenure, By Area of Property,
Competition, Forecast & Opportunities, 2024” has analyzed the potential of Home loan market across the country,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by India Home loan market.
Browse Related Reports
India Consumer Finance Market, By Type (Unsecured Consumer Finance
and Secured Consumer Finance), By Company and By Geography, Forecast &
Opportunities, 2014-2024
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
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