Trends in India’s Housing Sector for 2024
The Report on Trends and Progress of Housing in India, 2024, published by the National Housing Bank (NHB), highlights housing market growth, loan trends, and policy impacts. As of September 2024, individual housing loans reached ₹33.53 lakh crore, growing 14% year-on-year. The Housing Price Index rose by 6.8%. Government schemes like PMAY and UIDF aim to improve accessibility. Challenges include regional credit disparities and limited HFC outreach. The future outlook is positive, with PMAY 2.0, urbanization, and digitization expected to drive growth. NHB, established in 1988, supervises Housing Finance Companies (HFCs) under RBI regulation.
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