Gujarat has reported a sharp rise in home loan disbursals for the fiscal last over (2009-10) as compared to 2008-09. The home loan offtake has gone up to 61% for FY 09-10 although loan accounts have reported merely 13.39% increase for the same period.
The last fiscal saw new loan disbursal by member banks of the State-Level Bankers’ Committee (SLBC) to the tune of Rs3,786.74 crore to 52,307 borrowers, as compared Rs2,344.42 crore to 46,130 borrowers in FY 2008-09, thus showing an increase of Rs1,442.32 crore.
The increase in the number of home loan accounts has been just 6,177 in 2009-10.
Mukesh Kumar Jain, GM of Dena Bank and convener of SLBC said, “People were reeling from global turmoil and hence quite apprehensive of borrowing money. However, with the economic situation improving, demand in the mid and higher segment of housing has also improved. People have stretched their budgets by around Rs5 lakh. Those who were buying home in the range of Rs20-25 lakh, have started buying home ranging around Rs30 lakh”.
Chief GM of the State Bank of India, Gujarat circle, P Nanda Kumaran, said, “In Gujarat, 80% applications for home loans are for houses costing less than Rs30 lakh. Of it, 20% demand is for houses for weaker sections. Even today, people are buying houses for less than Rs5 lakh in suburban areas of Ahmedabad and other rural areas. The demand for premium houses, costing more than Rs30 lakh, is very low in Gujarat.”
Also Read: