Mumbai: Word had been around for quite some time now that the real estate market is going through a slump due to almost unrealistic prices. But the growth of the home loan market seems to tell a different story all together. Rapid urbanization, growth of nuclear families and increasing number of double income families has given a boost to house buying in spite of houses being almost beyond the range of affordability of the middle class. Therefore housing loan market is expecting to see a growth of 18 % to 20%. Low income housing loans are expected to grow by 20% to 30%.Housing finances are mostly provided by commercial banks as those are in dominant numbers in India and have more branches than any government bank. HDFC which is India’s largest lender accounts that it has witnessed an 18-20% growth in housing loans this year. This is much lesser than the 31% growth in the first nine months of 2012-13. Yet it is a positive motion. Real estate as an asset class saw a much improved status in the last five years and appreciated by about 10%. Most of the home loan borrowers (90%) are first time home buyers coming from smaller towns or city outskirts.As on March 2102 outstanding loans by banks and various finance companies amounted to Rs 6.20 lakh crore.In March 2001 housing credit amounted for 5% of the overall credit in banks. By March 2006 it rose to 12%. However this rate of growth slowed down after the thriving years of 2006 and 2007. It declined to 8% by March 2012.Harshil Mehta, the CEO of Aadhar Housing Finance, predicted from present market trends that the low-income housing segment with houses with prices varying between Rs 15-20 lakh, will see an immense growth in 2013-14 and rise by 20%.займ на карту без отказов круглосуточновзять кредит онлайн