Despite the pandemic severely hitting the economy , real estate and housing, the pick-up in home loans is a healthy sign.
According to mortgage statistics, the country’s biggest mortgage lender , HDFC has approved and disbursed record home loans during Covid. Under the PMAY scheme, it approved 50000 subsidized home loans in the last 6 months. And during the last 5 months since April, it has disbursed 50000 home loans. This is quite appreciable as during the full last year, the apex mortgage bank, disbursed one lakh home loans. During the last 5 years, HDFC has approved Rs 47000 crore of home loans under PMAY. It has provided Rs 4700 crore of subsidy to 2 lakh home buyers under CLSS of PMAY.
Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global Group and Chairman, Assocham National Council on Real Estate, Housing & Urban Development, “This is a very encouraging development in this festive season. This shows that despite pandemic setback, the latent demand for housing is getting converted into sales. This will in turn help in realizing the target of Housing for All by 2022.