In India, Housing loan enquiries Jumped by more than 18% in Q1 2012 as compared with Q1 2011, according to a study conducted by credit rating agency CIBIL.( CREDIT INFORMATION BUREAU (INDIA) LIMITED). This clearly indicates that demand for housing loans are on the rise as more consumers are seeking housing loans.
Moreover, housing loan enquiries have more than doubled from Q1, 2007 to Q3, 2011. First 3 quarters of 2011 also showed an increase in number of housing loans enquiries by 21% over the same period last year.
The CIBIL study also showed that the number housing loans taken were linked to the interest rate cycle. In 2008, when interest rates rose, there was a dip in the number of housing loan enquiries. Again, with RBI monetary policy easing, number of loan enquiries increased.
CIBIL data also shows that very low ticket size home loans i.e less than Rs. 5 lakh dropped to 20% of total loans sanctioned in 2011 from 41% of total loans sanctioned in 2007. On the other hand, the number of new loans sanctioned with values more than Rs. 10 lakh increased to 55% in 2011 from 33% of all home loans sanctioned in 2007, while percentage of overall loans sanctioned in the range of Rs. 5 lakh to Rs. 10 lakh has remained stable at about 25%.
Registered Corporate Office :
CREDIT INFORMATION BUREAU (INDIA) LIMITED
Hoechst House, 6th Floor,
193 Backbay Reclamation,
Nariman Point,
Mumbai 400 021
Branch Office :
CREDIT INFORMATION BUREAU (INDIA) LIMITED
Hoechst House, 7th Floor,
193 Backbay Reclamation,
Nariman Point, Mumbai 400 021
Tel : +91 -22 6638 4600, Fax : +91 -22 6638 4666
Moreover, housing loan enquiries have more than doubled from Q1, 2007 to Q3, 2011. First 3 quarters of 2011 also showed an increase in number of housing loans enquiries by 21% over the same period last year.
The CIBIL study also showed that the number housing loans taken were linked to the interest rate cycle. In 2008, when interest rates rose, there was a dip in the number of housing loan enquiries. Again, with RBI monetary policy easing, number of loan enquiries increased.
CIBIL data also shows that very low ticket size home loans i.e less than Rs. 5 lakh dropped to 20% of total loans sanctioned in 2011 from 41% of total loans sanctioned in 2007. On the other hand, the number of new loans sanctioned with values more than Rs. 10 lakh increased to 55% in 2011 from 33% of all home loans sanctioned in 2007, while percentage of overall loans sanctioned in the range of Rs. 5 lakh to Rs. 10 lakh has remained stable at about 25%.
Registered Corporate Office :
CREDIT INFORMATION BUREAU (INDIA) LIMITED
Hoechst House, 6th Floor,
193 Backbay Reclamation,
Nariman Point,
Mumbai 400 021
Branch Office :
CREDIT INFORMATION BUREAU (INDIA) LIMITED
Hoechst House, 7th Floor,
193 Backbay Reclamation,
Nariman Point, Mumbai 400 021
Tel : +91 -22 6638 4600, Fax : +91 -22 6638 4666
This information on housing loan is quite importnt for me.
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