Delhi, 12 March (H.S.): National Housing Bank (NHB), established under the Government of India, has published the Report on Trends and Progress of Housing in India, 2024 as mandated by Section 42 of the National Housing Bank Act, 1987.
The report examines the housing landscape, price trends, government initiatives, the contribution of Primary Lending Institutions (PLIs), the performance of Housing Finance Companies (HFCs), and the sector’s future outlook.
Key findings include individual housing loans outstanding reaching ₹33.53 lakh crore as of September 30, 2024, marking a 14% year-on-year increase. The loan distribution is 39% EWS & LIG, 44% MIG, and 17% HIG. Loan disbursements for the first half of the fiscal year were ₹4.10 lakh crore, while annual disbursements reached ₹9.07 lakh crore for the year ending March 31, 2024. The Housing Price Index (NHB-RESIDEX) saw a 6.8% annual increase.
The report addresses challenges such as regional credit disparities and climate risks, while also highlighting growth opportunities through technological advancements and initiatives like PMAY and UIDF. The outlook remains positive, bolstered by urbanization and digitization efforts.
Hindusthan Samachar / Jun Sarkar
