Outlook For The Housing Sector Remains Promising: Nhb Report

Individual housing loans outstanding stood at Rs 33.53 lakh crore at the end of September, a growth of 14 per cent year-on-year, with the MIG segment accounting for the maximum credit, according to National Housing Bank (NHB). NHB, a statutory body under the Government of India, has released the Report on Trends and Progress of Housing in India. As on September 30, 2024, EWS and LIG accounted for 39 per cent, MIG accounted for 44 per cent and HIG accounted for 17 per cent of outstanding individual housing loans, the report said. Individual housing loan disbursements during half year ended 30-09-2024 were ₹4.10 lakh crore while disbursements during the year ended 31-03-2024 were ₹9.07 lakh crore. For the quarter ended September 2024, the Housing Price Index (NHB-RESIDEX) recorded y-o-y increase of 6.8% as compared to 4.9% during previous year. Outlook for the housing sector remains promising, driven by budget announcements on PMAY 2.0, urbanization, transit-oriented development, digitization and other factors, NHB report noted.

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