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Written by Jack » Updated on: November 19th, 2024
According to a report by TechSci Research titled "India Home Loan Market, By Type, By Source, By Interest Rate, By Tenure, By Area of Property, Competition, Forecast & Opportunities, 2024," the home loan market in India is expected to witness substantial growth.
This growth is attributed to the increasing population and the availability of affordable mortgage rates. Typically, individuals seek home loans for purposes such as extension, renovation, repair, or the purchase of a house. Additionally, the rising employment opportunities in tier 1 cities are prompting more people to shift to these cities by utilizing home loans, contributing to the anticipated growth in the India home loan market through 2024.
Report: https://www.techsciresearch.com/report/india-home-loan-market/4237.html
The segmentation of the home loan market in India includes types, sources, interest rates, tenures, areas of property, and regions. In India, both banks and housing finance companies (HFCs) are favored sources for home loans. Banks, having dominated the market in 2018, are expected to continue this trend in the coming years.
This preference is due to banks offering attractive interest rates, especially compared to housing finance companies regulated by the National Housing Bank. Banks adopting the marginal cost of funds-based lending rate (MCLR) model is attracting a significant customer base. The interest rate options are categorized into fixed and floating rates, with fixed rates being the preferred choice for the majority of Indians, given the potential market rate fluctuations associated with floating interest rates.
Report Scope
In this report, India home loan market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India home loan market.
Key players in the India home finance market include housing finance companies and banks.
Download Free Sample Report: https://www.techsciresearch.com/sample-report.aspx?cid=4237
The report highlights the influence of government initiatives like Pradhan Mantri Awas Yojana, income tax rebates for interest repayment, and affordable mortgage rates in driving the growth of the home loan market in India. Furthermore, the low-interest rate scenario in India compared to other countries, coupled with increasing urbanization, is expected to further fuel the growth of the India home loan market during the forecast period. Mr. Karan Chechi, Research Director at TechSci Research, emphasizes the importance of these factors in contributing to the sector's expansion.
The report "India Home Loan Market, By Type, By Source, By Interest Rate, By Tenure, By Area of Property, Competition, Forecast & Opportunities, 2024" comprehensively analyzes the potential of the home loan market in India, providing statistics and information on market sizes, shares, and trends. The report aims to furnish intending clients with cutting-edge market intelligence to facilitate sound investment decisions. Additionally, it identifies and analyzes emerging trends, along with key drivers and challenges faced by the India home loan market.
Get Your Free Sample Report: https://www.techsciresearch.com/sample-report.aspx?cid=4237
About Techsci Research
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research's core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high-value market research and advisory services that help them identify new market opportunities, growth engines, and innovative ways to capture the market share. As a result, TechSci's client leads rather than follow market trends.
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