If you thought that North India was a quite of a conservative and a debt avoiding society, South India sure gives them a back seat, since in the recent study shows that this region takes the top spot in terms of auto loans, home loans and even a personal loan!
Besides Chennai tops in per capita housing loans of Rs 22,937 and Bangalore in absolute terms Rs 14,222 crore, other credit-friendly districts from the south include Hyderabad, Ernakulam, Pathanamthitta, Coimbatore, Kottayam and Thiruvananthapuram are credit freindly as well.
South India makes a much stronger statement, with seven of the top ten districts, on both per capita as well as total market size, from southern states. Chennai, Bangalore and Kottayam emerge as the top three districts here, with per capita credit of Rs 648, Rs 454 and Rs 328 respectively when it comes to retail consumer credit, which includes auto and durable loans
In north India, Chandigarh and Noida on per capita basis in all India rank two and five, they drop to rank eighth and 10th places respectively on absolute size of their home loan markets. In absolute terms, Chennai takes second spot mopping up housing credit of Rs 10,328 crore with Hyderabad at number three (Rs 7,304-crore).