Home loans witnessed notable growth during Q1 2014-15
The home-loan figures released by home financiers for the first quarter of fiscal 2014-15 have revealed that potential home buyers are no longer postponing their decision to purchase a home.
According to the statistics shared by mortgage bigwig HDFC, the company witnessed a year-on-year growth of 23 percent in its retail home loan book during the first quarter of 2014-15.
Noting that the company’s growth in the 2014-15 first quarter has been “quite widespread,” HDFC said that the encouraging response to retail home loans has persuaded it to promote its home loan offerings by sending mailers to customers to buy their dream homes.
Another home financier to acknowledge that home loans have seen a notable growth in the first quarter of fiscal 2014-15 is Sundaram BNP Paribas Home Finance. The company has revealed that its home loan book recorded a year-on-year growth of 15 percent – from Rs 3,847 crore to Rs 4,413 crore – during the mentioned quarter.
Meanwhile, with the Union Government pushing the affordable housing segment, home financiers are hopeful that home loans business this year will witness a 20 percent growth over the last fiscal.
Towards that end, Deo Shankar Tripathi – President and CEO of Dewan Housing Finance – said: “We expect the real push to come from loans under Rs 15 lakh…. the LIG (low income group) and the EWS (economically weaker section) of the society.”
Source – The Times of India
Affordable housing segment, Deo Shankar Tripathi, dewan housing finance, HDFC, Home finance, home loan, mortgage bigwig HDFC, Sundaram BNP Paribas, Union government
