Home loan growth may rise to 17-19% in FY19, says Icra report
Housing credit grew 16 per cent in FY18, taking the mortgage penetration (housing credit as a percentage of GDP) to double-digit mark of 10 per cent for the first time in FY18, up from 9.5 per cent in FY17. Overall housing credit grew 39 per cent in the year to March 2018, which was pushed by new mortgage players in the affordable housing segment.
Government incentives to boost the residential real estate sector, especially budget housing, may push housing credit growth to 17-19 per cent in the current fiscal year, according to a report. Image source: Reuters