The average growth of home loans in the country between 2018-19 and 2021-22 is 11%, while it is 13% in Tier-3 and 4 cities. home loan : The average home loan growth in the country between 2018-19 and 2021-22 is 11%, while it is 13% in Tier-3 and 4 cities. | NewsBust The average growth of home loans in the country between 2018-19 and 2021-22 is 11%, while it is 13% in Tier-3 and 4 cities. home loan : The average home loan growth in the country between 2018-19 and 2021-22 is 11%, while it is 13% in Tier-3 and 4 cities. | NewsBust

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The average growth of home loans in the country between 2018-19 and 2021-22 is 11%, while it is 13% in Tier-3 and 4 cities. home loan : The average home loan growth in the country between 2018-19 and 2021-22 is 11%, while it is 13% in Tier-3 and 4 cities.

By Amit - September 24, 2022

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  • Hindi News
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  • Home Loan : The Average Home Loan Growth In The Country Between 2018 19 And 2021 22 Is 11%, While It Is 13% In Tier 3 And 4 Cities.

New Delhi37 minutes ago

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The direct impact of the Kovid epidemic has been seen on the domestic housing sector. According to a report by SBI, the annual average growth of home loans in the country was 11% between the financial years 2018-19 to 2021-22. But in the same years, the annual growth of home loans in Tier-3 and Tier-4 cities was seen at 12-13%. The special thing is that women took up to 86% of home loans in small towns.

The report also noted that the average loan size in Tier-3 and Tier-4 cities has also been higher in recent years as compared to Tier-1 cities like Delhi, Mumbai and Tier-2 cities like Bhopal, Indore, Chandigarh. Cities like Aligarh, Baroda, Madurai come under Tier-3 category and rest of the smaller cities come under Tier-4 category. According to SBI, due to the increasing trend of working from home, especially in the Kovid period, more houses were bought by taking loans in smaller cities.

Trend of digital office at home
The report said, ‘Working from home has changed family priorities. Since people had to work from home for a long time, some of them set up digital offices at home. This trend was seen more in Tier-3 and Tier-4 cities. Due to this people felt the need of their own house.

House prices also increased
During the last four years, the demand, price of houses in Tier-3,4 cities has also increased more than the big-medium cities. House prices in cities like Raipur, Surat, Jaipur and Lucknow increased faster than those in cities like Delhi, Mumbai, Chandigarh and Indore.

women on top
Nearly half of the home loans in Tier-4 cities were taken by women. In some cities, more than three-quarters of the loans were taken by women. Women took 86% of new home loans in Dang in Gujarat and 75% in Arwal in Bihar. There is 0.10% subsidy on home loan for women.

36% of loans distributed to smaller towns

  • Tier-3,4 cities accounted for 36% of new home loans between 2018-19 and 21-22.
  • Smaller cities accounted for 32% of the home loans disbursed in 2018-19.
  • Uttar Pradesh, Karnataka and Punjab were the top states in terms of home loan growth in small towns.

There is more news…

Amit

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