By Accommodation Times Bureau
As the Affordable Housing Segment booms in the Indian real estate markets, the home loans below Rs 10 lakh have surged by 43% in the last fiscal year (FY2017). However, the home loans above Rs 25 lakh marginally declined by 1%. Affordable housing refers to housing units that are affordable by that section of society whose income is below the median household income.
According to the industry estimates in the last financial year, the overall housing loans increased by 23%.
The apex financial institution for the segment, National Housing Bank (NHB) has built 18.48 lakh houses in the rural areas for an amount of Rs 29,000 crore and 1.86 lakh houses in the urban area for Rs 7,700 crore, as reported by a national business daily.